Isaac Childres, the founder of Cephalofair Games and designer of its runaway successes Gloomhaven and Frosthaven, is stepping down from his role as CEO to focus exclusively on game design at the company.

Cephalofair’s long-time chief operating officer Price Johnson has been promoted to CEO at the publisher, while industry veteran Julie Ahern has been hired from Van Ryder Games as its new COO.

Childres founded Cephalofair in 2014 to self-publish his first game, Forge War, and struck huge success with his follow-up design, fantasy co-op campaign design Gloomhaven, which raised about $4m for its second printing on Kickstarter in 2017.

Three years later the company broke the Kickstarter funding record for a tabletop game with Childres’ successor design Frosthaven, which pulled in almost $13m from more than 83,000 backers.

Childres has led the company since inception, seeing it growing from a one-person operation to overseeing a team handling design, development, writing, art direction, promotion, publishing and fulfillment.

New CEO Johnson, who joined Cephalofair in a business development role in 2017, oversaw strategic initiatives such as mass market placement of Jaws of the Lion, as well as managing marketing and production of Frosthaven as the heavily-delayed project navigated the huge disruption caused by the Covid-19 pandemic.

He has also been a high-profile voice in campaigning against US tariffs imposed by President Donald Trump over the last year, and aiming to highlight the heavy financial burden it has placed on tabletop game publishers – many of which rely on Chinese manufacturing for their titles.

Johnson will continuing to oversee strategic initiatives, business development, sales and marketing, and catalogue growth at the company following his promotion to CEO.

He said, “Working with Isaac since the early release days of Gloomhaven to grow both Cephalofair and our community has been an absolute privilege and highlight of my career.

“We have come a long way since the early days of indie game design and crowdfunding, while learning a lot about ourselves and this industry in the process.

“I can’t wait to share the exciting plans we have creatively and organizationally in this next chapter with our fans, but that starts by putting in the hard work alongside our amazing team, whom I thank for their trust and support.

“With confidence, there is no place I’d rather be… epic strategy awaits!”

A statement from Cephalofair said Childres would now focus solely on his role as lead game designer at the publisher, overseeing design and development on its entire line of games.

Julie Ahern, who replaces Johnson as COO, most recently spent almost four years as senior director of operations at Van Ryder Games, which is best known for solo horror game series Final Girl and murder mystery title Detective: City of Angels.

She previously spent almost 12 years at Greenbriar Games as COO and vice president, overseeing day-to-day of business operations and game development while contributing to the Folklore: The Afflication and Zpocalypse product lines.

Childres said, “Julie is my absolute favorite person in the board game industry (sorry Price!), and I could not be happier to welcome her to the team.

“I think she is the perfect fit for a needed role in this transition that allows me to focus on my core passion: designing epic, strategic games. Thanks Julie!”

Johnson added, “Growing as an organization means surrounding ourselves with professionals who not only compliment our core strengths, but exceed many of our own.

“Julie Ahern is one of those professionals I’ve long admired as a leader, innovator, and tabletop enthusiast. From coffees at conventions to shared manufacturing trips in China, I’m thrilled to finally have the opportunity to work directly alongside her as Cephalofair enters its next chapter.”

Ahern said, ““I have known and respected Isaac and Price for many years. While I loved my time at Van Ryder Games, it is a genuine pleasure to start this new adventure.

“I am thrilled to delve into the Gloomhaven universe with all its deep lore and challenging campaigns.”

Cephalofair’s most recent crowdfund saw it raise more than $5m on BackerKit for Gloomhaven Grand Festival – one of the highest-profile campaigns on the crowdfunding site to date – which included a second printing of Frosthaven, second edition of Gloomhaven and several other designs such as small-box release Gloomhaven: Buttons and Bugs.

That campaign has suffered heavy delays compared to its original timeline, however, due to both production delays and the volatility caused by US tariff policy.

The new edition of Gloomhaven, for example, only began fulfilling in May last year, despite initial estimates that it would begin fulfillment in March of 2024.

Cephalofair is currently on Wave 4 of production for the project, working on the Gloomhaven RPG, which it originally estimated would be fulfilled in July 2024.

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Financially-troubled board game publisher CMON is pinning its future on a push into video game development and blockchain-based projects, beginning with a $2.1m investment in NFT game maker Blissful Link.

CMON’s board said it planned to transition its titles such as Massive Darkness and Super Fantasy Brawl Reborn into “high-quality digital assets”, adding that it believed integrating its board games with digital and Web3 technologies “would enhance the long-term commercial value of the group’s portfolio”.

The company has kicked off that shift by agreeing to acquire a 2.2% stake in Blissful Link, which operates Capverse, a play-to-earn video game built on blockchain technology in which players buy NFT ‘Sumer’ characters to battle with online.

CMON’s investment values British Virgin Islands-incorporated Blissful Link at more than $95m. Blissful Link made a loss of about $197,000 in 2024, on revenues of just over $408,000, and had net liabilities of about $889,000, according to unaudited figures provided by CMON. It did not include finances for 2025.

A statement from CMON’s board supplied to the Hong Kong stock exchange, where the board game publisher is listed, said, “Over the years, traditional board and other table top games have merged with digital ones providing digital convenience, offering online multiplayers, automated rules and apps that enhance physical play.

“The company believes that in order to continue to be relevant in the games industry and to expand the group’s revenue stream, the group would need to conduct digital transitioning and venture into video game development and Web3 projects.

“Digital transitioning would have the benefits of enhanced visual effects, have apps that handle scoring, timing etc, would enable a diversified number of players and are more accommodating to players not within the same vicinity.

“Added to this, entering into Web3 projects often emphasise social responsibility and ethical practices such as transparency and fairness on decision marking. By participating in Web3 projects, the company can demonstrate its commitment to social responsibility and sustainability.

“However, the group would continue to supplement this digital transformation as physical games would still offer a ‘screen break’ for individuals as well as foster direct face to face interaction.”

Non-fungible tokens, or NFTs, are digital assets which represent specific items – such as an illustration, trading card or piece of music – each with an individual signature stored via blockchain technology, which includes information such as who created it, who owns it, who sold it and for how much.

NFTs, which emerged out of cryptocurrency technology such as Bitcoin, exploded into the public eye in 2021 thanks to big-money speculative purchases – such as an NFT of Twitter founder Jack Dorsey’s first tweet selling for $2.9m.

That speculative bubble had already burst a year later, however with many of the digital assets involved losing more than 90% of their peak value. The Dorsey tweet NFT, for example, received a high bid of $6,800 when it was put back on the market in April 2022.

Other board games that have pushed into NFTs are few and far between, with one of the highest profile examples being SolForge Fusion, which allows players to mint decks as digital assets in addition to playing the game in physical form.

Two years ago CCG project Wonders of the First had to pull a $1.4m campaign from Kickstarter after falling foul of the crowdfunding platform’s ban on NFTs. The game went on to raise about $1.2m after relaunching without NFT content.

CMON, a long-time heavyweight in board game crowdfunding thanks to games such as Zombicide, Blood Rage and Cthulhu: Death May Die, slumped to a loss of more than $3m in 2024 due to falling sales for its crowdfunding campaigns.

That loss was almost double CMON’s total profits from the prior three years – but the figure was dwarfed by the $19.9m annual loss the company announced in its 2025 financial results.

CMON’s $23m losses across 2024 and 2025 are now almost 5.5-times larger than its profits from the preceding nine years combined, and have pressed the company into a string of asset sales as it attempts to fulfill more than $14.3m of as-yet-undelivered crowdfunding campaigns.

Those IP sales included parting with its most famous and profitable title Zombicide – which has raised more than $40m on Kickstarter since its 2012 launch – to Asmodee, as well as Blood Rage, Rising Sun and Ankh to Tycoon Games.

It followed those by selling the IP for former Mythic Games titles Anastyr and Hel: The Last Saga to Don’t Panic Games in September, and parting with the lucrative Cthulhu: Death May Die IP to Asmodee a month later – the latter a series which has raised almost $10m from backers to date.

Last month an independent auditor hired by the company questioned whether it CMON had the resources to stay in business for the foreseeable future, saying the publisher’s $19.9m annual loss, its net liabilities of more than $3.5m and contract liabilities of over $7.5m “indicate a material uncertainty which may cast significant doubt about the group’s ability to continue as a going concern.”

CMON’s directors had a different view, however, saying in the company’s 2025 financial report that it “should be able to continue as a going concern” thanks to a trio of factors.

They include financial support from some of the directors “sufficient to finance CMON’s working capital requirements”, the roughly $2.4m proceeds from selling its Singapore office that it received in January, and about $1.25m of gross proceeds from a successful share sale in February.

CMON’s hefty liabilities are largely due to its eight undelivered crowdfunding campaigns, which are not recognised as revenue on the company’s books until they are fulfilled to backers.

They include DC Super Heroes United, which raised more than $4.4m, and DCeased, which brought in over $2.5m. Both campaigns were initially due to be delivered last year, but are now expected to be delivered in Q4 of 2026, according to CMON’s latest estimates.

CMON also has several undelivered pre-order campaigns on its books, including Dune Desert War and the Assassin’s Creed Role Playing Game.

The company pulled the plug on crowdfunding launches and new game development just over 12 months ago, citing the economic uncertainty created by US tariff hikes – which at the time had reached 145% for China, where the vast majority of hobby board games are manufactured.

But CMON announced last month that it plans to relaunch its halted crowdfunding operations later this year.

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Toy and game maker Hasbro has delayed its quarterly results by almost a month after suffering a cyber attack, but said it expects to post Q1 revenues of up to $985m thanks to continued strong performance of Magic: The Gathering.

Hasbro said it identified “unauthorized access” to the company’s network on March 28, but believes that access has been “contained” – adding that Magic’s shipments and release cadence had continued unaffected.

The company expects Q1 revenue to be between $970m and $985m, a rise of between 9% and 11% compared to the same period last year – while operating profit is expected to reach $235m to $245m, a 38% to 44% jump.

Those preliminary results are expected to be solidified when Hasbro eventually releases its full Q1 financial report, which is now scheduled for May 20.

Magic continues to underpin Hasbro’s fortunes, with the veteran trading card game’s revenue having soared 59% last year to mark its strongest annual performance yet.

Hasbro saw its wider 2025 revenue rise almost 14% to $4.7bn, driven by a record 45% growth in its Magic, D&D and digital gaming division Wizards of the Coast, the company revealed in February.

Magic’s record-breaking year was capped off by a storming fourth quarter, which saw revenues from the game up 141% compared to Q4 2024 on the strength of the Avatar: The Last Airbender and Final Fantasy releases.

That stellar performance of Wizards, and Magic in particular, was in stark contrast to Hasbro’s consumer products segment – which includes Nerf guns, Transformers and Peppa Pig toys.

That segment saw revenues drop 4% last year “amongst macro and retailer volatility brought on by tariff announcements in Q2″ – and unlike for Magic, Hasbro said that the cyber incident would likely impact second quarter revenues and operating profit in consumer products due to expected order processing, shipping and invoicing delays.

Hasbro added that it still expects full-year revenues to rise between 3% and 5% in 2026. Hasbro CFO and COO Gina Goetter said in February that the company expects Wizards of the Coast to deliver mid-single-digit revenue growth in 2026, “supported by a healthy release cadence and continued engagement across the Magic ecosystem”.

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The American arm of high IQ society Mensa has unveiled the latest crop of board games winning its Mensa Select seal, which are voted on by hundreds of organisation members during an annual four-day gaming marathon.

Alex Cutler and Peter C Hayward both saw two of their creations win the seal this year, including their co-design Critter Kitchen, Hayward’s Things in Rings and Cutler’s A Place for All My Books – which he co-created with Michael Mihealsick.

Things in Rings publisher Allplay also saw its title Twinkle Twinkle, designed by Ammon Anderson, pick up a Select seal, while other winners this year included Matthew O’Malley and Ben Rosset’s Fromage, Yoann Levet’s Got Five and Tomáš Holek design Galileo Galilei.

Entries to the annual Mensa Mind Games are judged on aesthetics, instructions, originality, play appeal and play value, Mensa says, with the award aiming to highlight games that are original in concept, challenging and well-designed.

Not all games released during the past year are eligible for the award, however – entries carry a fee of several hundred dollars each, and games up for consideration need to have an average play time of 90 minutes or less.

Barnes & Noble and other major retailers have previously given special consideration to games bearing the Mensa Select seal, while winning games are also featured by American Mensa’s official online retailers and on its website.

Fromage is the most decorated of this year’s seal winners, having previously won the Origins Award for best light strategy game, as well as picking up nominations for medium game of the year, most innovative game and best artwork in the 2024 Golden Geek Awards.

Things in Rings was previously nominated in both the Golden Geeks and Origins Awards in the best party game category.

Last year’s Mensa Select seal winners included Agueda: City of Umbrellas, Diatoms, Hutan, In the Footsteps of Marie Curie and Farms Race: Deluxe Edition.

This year’s Mensa Select seal winners in full:

• A Place for All My Books – designed by Alex Cutler and Michael Mihealsick (published by Smirk & Dagger Games)
• Critter Kitchen – Alex Cutler and Peter C Hayward (Cardboard Alchemy)
• Fromage – Matthew O’Malley and Ben Rosset (R2i Games)
• Galileo Galilei – Tomáš Holek (Capstone Games)
• Got Five – Yoann Levet (Blue Orange Games)
• Things in Rings – Peter C Hayward (Allplay)
• Twinkle Twinkle – Ammon Anderson (Allplay)

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