• Esports and lifestyle apparel brand 100 Thieves announced plans to develop a video game, which is currently dubbed “Project X, in collaboration with its content creators and esports professionals. 

• In line with this, the team hired former Telltale Games (a US video game developer) CEO Pete Hawley as its chief product officer; he will be in charge of setting up and overseeing the development studio. 100 Thieves Chief Operating Officer John Robinson also revealed plans to hire engineers, designers, and artists. 

<ul><li> Analyst QuickTake: 100 Thieves’ bet on game development could be risky, given the unique challenges it brings, but the hiring of Hawley brings in some much-needed experience to the organization. None of the large esports organizations, at least in North America, have attempted a similar move. Nonetheless, 100 Thieves is known for taking risks and it's a major contributing factor to its success. With one of the most diversified portfolios in the industry, which includes a very successful lifestyle clothing line, the move signals further diversification of income opportunities. It seems that 100 Thieves is putting its USD 60 million Series C funding to good use.</ul>