South Korean game publisher Smilegate has made a strategic investment and become a partner in Absurd Ventures, a game studio founded by Rockstar Games cofounder Dan Houser.
Houser spent more than 20 years at Rockstar games and drove the creative direction of the Grand Theft Auto and Red Dead Redemption franchises, which have collectively sold more than 550 million units worldwide. (Theoretically, that’s about $33 billion worth of games). Houser left Rockstar Games in 2020.
Through this agreement, Smilegate will have the opportunity to partner on Absurd Ventures’ new intellectual property, which has been in the works since Houser started the studio in 2021. I am looking forward to seeing the creative output of this combination, as Houser was part of a talented team at Rockstar that rose to the pinnacle of the game industry. This is a test as to whether he can do more of the same, this time with a South Korean juggernaut behind him instead of Rockstar and Take-Two Interactive.
Another GTA veteran, Leslie Benzies (pictured below left), has also struck out on his own — leaving Rockstar and starting up the Build A Rocket Boy studio — and is working with IO Interactive on a game called Mindseye as well as a larger game universe dubbed Everywhere.
In a statement, Houser said, “This collaboration with Smilegate was borne from a mutual respect and a philosophical alignment with founder (Hyuk-bin) Kwon, and the great passion he and his team bring to making AAA games. We both want to build interesting worlds and new player experiences.”
It’s a big opportunity for Smilegate — the maker of games such as Crossfire and Lost Ark — to team up with Houser, who creatively oversaw globally successful IPs that are cultural cornerstones and rooted in immersive storytelling.
Joonho Sung, CEO of Smilegate, said in a statement, “We are thrilled to collaborate with the developers behind globally renowned series that have millions of fans worldwide. Together with Absurd Ventures, Smilegate aims to deliver games that players across the globe will love. This partnership marks a critical milestone in Smilegate’s journey toward becoming a global IP powerhouse.”
As the creative director and lead writer of Rockstar’s biggest games, Houser conceived indelibly rich worldbuilding, captivating and sometimes heart-breaking stories, and created iconic characters like
Tommy Vercetti, Arthur Morgan, Trevor Phillips and John Marston to name just a few.
Houser’s team at Absurd Ventures includes key leaders and talent from his time at Rockstar Games as well as executive game development veterans who worked on Call of Duty, Pokemon Go! and many other triple-A franchises.
Based in Santa Monica, California, (with offices in Marin County, California), Absurd Ventures is currently at work building a bold new vision with diverse new IP universes across a wide array of mediums, including video games as well as live-action and animated TV and film, audio fiction podcasts, books, comic books and more.
While Absurd Ventures’ video game projects are in early stages of development, the team did release a hit audio fiction series this year set in a new science-fiction universe. The series, A Better Paradise, debuted at No. 1 on Apple’s Fiction charts. And Absurd Ventures will also be introducing its American Caper crime-fiction universe as an original comic book series in 2025.
A third IP universe from Absurd Ventures will also be revealed soon. Smilegate is the creator of the blockbuster franchises Crossfire, which was released in 2007 as a first-person shooter game and it has a billion registered gamers (eight million concurrent) in 80 countries. Lost Ark debuted in 2018 in South Korea in 160 countries and it’s still going strong with over 1.32 million concurrent players on Steam.
As part of this investment, Smilegate is is steadily solidifying its position as a global IP powerhouse. Smilegate and Absurd Ventures will each leverage the strength of the other into new and sustainable business opportunities.
Smilegate will benefit from Houser and his team’s proven narrative, triple-A game and business
expertise in the Western market, while Absurd will benefit from Smilegate’s expertise in the Asian market. The two companies will pool each other’s strengths in areas such as online/live service, given Smilegate’s success with Crossfire and Houser and his team’s experience overseeing the wildly successful Grand Theft Auto Online.
Smilegate was advised by DLA Piper and Absurd Ventures was advised by Grubman Shire Meiselas & Sacks, P.C. with respect to the transaction.
