Studio founded to develop bespoke esports title

Former head of esports at US talent agency WME-IMG Tobias Sherman has announced the launch his own game studio.

Foundry IV, co-founded by Sherman and his former WME-IMG colleagues Simon Abitbol and Lilia Russo Sherman, is looking to build an esports title from the ground-up.

Sherman himself has experience in the esports sphere, having been heavily involved in founding Eleague in September 2015.

Foundry IV is looking to set itself aside from the giants of esports, such as League of Legends, Dota 2, and Overwatch by stepping away from the loss-leading, marketing focused model.

"Historically, for publishers, esports has been used as a marketing tool, always secondary to traditional game development," said Sherman.

Sherman and his colleagues aim to build global casual competitions, professional leagues, and tournaments with franchises and revenue sharing, something which esports industry leaders Riot Games has struggled with in the past.

"Franchise owners will gain an equity stake in every game we develop and all revenue streams associated, whether it's sales on PC, sponsor partnerships, media or the league itself," said Sherman.

According to ESPN, Foundry IV has already secured seed funding from MGM Resorts International and is currently working through Series A funding. Additionally, the newly founded company is attracting interest from publishers, though co-founder Abitol said he does not see the "value in being beholden to one."