Posted by AGORACOM
at 12:20 PM on Friday, March 29th, 2019
WOLLASTONITE
St-Onge-Wollastonite Deposit located approximately 90 kilometres Northwest of the city of Saguenay, in St-Onge township, in the Saguenay-Lac-St-Jean region of Quebec, Canada.
Vertical is researching the use of Wollastonite as a soil additive for optimizing marijuana growth
Phase Three trials involving cannabis grown with wollastonite (CaSiO3)
as a soil additive at BC Bud Depot’s (BCBD) ACMPR-licenced Research and
Development facilities in Vancouver, BC
Phase Three trials measured and recorded significant improvements
in root mass, powdery mildew control and pest elimination.
In every case
the most optimal results occurred with an admixture rate of 10% to 15%
wollastonite to the growth medium
Posted by AGORACOM-JC
at 11:32 AM on Friday, March 29th, 2019
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—————————
The Trade Desk, A Fast-Growing Ad-Tech Company, Opens For Business In China
Search engine Baidu partners with the Trade Desk in China.
The Trade Desk, the fast-growing programmatic advertising platform, flung open its doors in China on Tuesday
Several months after announcing partnerships with key Chinese Internet players, officially offer global brands a shot at the country’s 800 million Internet users.
(That’s 20% of all internet users in the word.) And, 788 million of them are mobile.
The Trade Desk, the fast-growing programmatic advertising platform, flung open its doors in China on Tuesday. Several
months after announcing partnerships with key Chinese Internet players,
it can officially offer global brands a shot at the country’s 800
million Internet users. (That’s 20% of all internet users in the word.)
And, 788 million of them are mobile.
Marketers are eager to tap the massive opportunity of China’s
1.4 billion population and expanding middle class. In an announcement,
the Trade Desk described an active period of beta testing that delivered
multi-channel campaigns to Chinese audiences in sectors ranging from
hospitality, luxury retail and education to food, beverage and biotech.
Trade Desk clients can tap into China on the same proprietary Trade Desk platform they use for the rest of the world.
Programmatic advertising automates buying and selling. The
Trade Desk’s platform helps marketers analyze, locate and target
audiences and optimize pricing across markets and devices. The
platform’s capabilities, user interface and planning tools were updated
last summer in an AI-driven package called the Next Wave that’s had
quick uptake by clients and helped drive robust financials in 2018.
The ad-tech company reported full-year revenue of $477 million,
up 55% year-on-year. Net income jumped to $88 million from $50 million.
It expects revenue to continue rising this year to $637 million. The
Trade Desk was founded in 2009 in Ventura, California. It went public in
2016.
International accounted for 15% of total sales. That’s a big
jump from three years ago, CEO and founder Jeff Green told investors
this month, but it’s well short of where the company wants to be.
China’s a major step in that expansion. “We have made a significant
investment in the country over the past few years,†Green said in the
statement, “and are confident in our ability to be the trusted
programmatic partner to help multinational brands grow in China.â€
At the Mach 6 investor event, Green described an even bigger
mandate he sees. “We are not just there to ride the wave [of a rising
middle class], but to empower it. Helping people decide for the first
time what kind of laundry detergent to washing machine to buy.â€
The Trade Desk now has some 50 employees in offices in mainland
China and Hong Kong and is looking to hire about 20 more. According to
its latest 10k, it has 724 clients around the world, mostly advertising
agencies or divisions within them.
In an interview, Tim Sims, SVP of inventory partnerships,
shrugged off Wall Street jitters over China’s slower growth because the
market is just so big and the number of connected consumers growing so
fast. “What’s so incredible to me is that, in a relatively short period
of time, in less than a generation, [the population equivalent of] two
United States are getting access to the internet.â€
Sims said myriad deals beyond those with the big four partners
the company announced had to be set up over the course of a challenging
several years. In the US and Europe, he noted, media, tech and data
companies often serve multiple markets. “In China, every single partner
is new to us,†he said.
Posted by AGORACOM-JC
at 10:29 AM on Friday, March 29th, 2019
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———————–
Simplicity set to open five esports gaming centers
Simplicity has identified locations for five esports gaming centers, representing around 9,000 square feet of space with over 150 gaming stations.
The first center will be located in Boca Raton, which is scheduled to have its grand opening in April of this year.
Logo credit: Simplicity
Simplicity
has now opened its franchise partner program, allowing the centers to
be opened in new locations by partners while retaining the
organisation’s branding. The centers are said to “feature cutting edge
technology including high performance PCs.â€
Jed Kaplan, CEO of Simplicity discussed
the venture in a statement: “I am excited to announce the opening of
our first Esports Gaming Center and the locations of our next four. Our
goal is to open 15 locations by year end and a total of 50 nationwide in
the next 24 months. Additionally, we offer attractive opportunities for
advertisers and sponsors to connect with our audience via our digital
and physical real estate.â€
In late 2018, Simplicity was acquired by SMAAASH Entertainment. In a statement given at the time of the deal, F. Jacob Cherian, CEO of SMAAASH Entertainment revealed that the company aimed to build “brick and mortar esports centers.â€
Following
the merger, Kaplan joined SMAAASH Entertainment as its Co-CEO and is a
minority owner of NBA team Memphis Grizzlies and Welsh football club
Swansea City.
Simplicity is currently partnered with esports apparel company Raven GG and competes in PUBG, SMITE, Gears of War, and NHL.
Esports
Insider says: More and more companies and organisations are looking to
open centers, either for internal use or aimed at the public. As gaming
and esports continue to be gradually embraced by the general public,
there’s potential for these establishments to become mainstays all
around the globe. These plans sound very ambitious considering
Simplicity’s centers are unproven in terms of popularity so we’ll have
to see how things pan out after the Boca Raton center opens.
The Startup On A Mission To Create A Truly O2O Edtech Ecosystem
According to a study conducted by KPMG and Google, India’s online education market will grow to $1.96 billion by 2021.
Online to Offline or O2O segment in India is heating up with Reliance planning to foray into e-commerce backed by its 7500+ offline stores and Paytm scaling down its Paytm Mall to focus on the O2O space, led by its acquisition of NearBuy.
Bengaluru: The Online to Offline or O2O segment in India is heating up with Reliance planning to foray into e-commerce backed by its 7500+ offline stores and Paytm scaling down its Paytm Mall to focus on the O2O space, led by its acquisition of NearBuy.
A recent report by The Boston Consulting Group pegged 5% of volume
and 16% of value of purchases in the Indian retail space to O2O
channels. The Indian customer is now smartphone savvy and uses the
online world for discovery but prefers an offline experience before
buying, especially in high ticket segments. The trend is clear with all
major players now having offline presence, across every segment such as
fashion (Myntra, YepMe), furniture (UrbanLadder, PepperFry), kids
(FirstCry), opticals (LensKart), jewellery (CaratLane),fitness
(Cure.fit) and more.
Education, especially outsourced to help for K-12 parents, has one of
the greatest needs for an O2O experience but that remains largely
untapped. According to a study conducted by KPMG and Google, India’s
online education market will grow to $1.96 billion by 2021. However, the
average rate of completion of online courses is less than 10%. Hence,
there is a strong need for an offline learning centre with a teacher or a
coach to help in learning and doubt solving.
The sweet spot in outsourced learning help lies in the Blended
Approach of digital content with offline consumption. PlanetSpark, one
of India’s fastest growing edtech startups is working on this huge O2O
opportunity in the K-8 edtech space. The company has developed highly
engaging and gamified digital learning content for children that can be
consumed at any of its offline experience centres across the country,
thus providing a seamless learning experience.
The parents discover the content through PlanetSpark’s free learning
app loaded with thousands of learning games, learning cartoons and
quizzes. “After parents discovers us online through our app, they have
the option to take up a premium learning plan or experience the learning
content at any of our experience centres in the presence of a
PlanetSpark certified teacher. Many parents opt for a classroom learning
and digital content plan. However, a visit to the offline experience
centre also helps parentsin decision making for the purchase of the ‘at
home’ digital planâ€, said Kunal Malik, Co-Founder of PlanetSpark.
An O2O (online to offline) strategy has helpedPlanetSpark to optimize
students’ experience. The students can learn at home using digital
content through a PlanetSpark ‘child safe’ tablet or a mobile app. They
can then visit their nearest experience centre to get mentorship and
support from a certified teacher.
“We operate in two models. First, we have home based learning
centres, completely managed by our top teachers. Second, we have
partnered with several space-sharing companies to lease safe and
asset-light shared learning spaces to set up a PlanetSpark experience
centre that can accommodate 50-100 students while keeping the capex
minimal. We have already set-up over 300 experience centres and are now
live in 7 cities across India. We are on a rapid expansion mode and aim
to be the largest player in the O2O edtech space by the end of 2019.â€,
says Maneesh Dhooper, Co-Founder of Planet Spark.
Backed by FIITJEE, India’s largest Education company, PlanetSpark
will use the funds to aggressively grow its online learners to 5 million
and its offline experience centres across 5 more cities.
Posted by AGORACOM-JC
at 10:00 AM on Friday, March 29th, 2019
SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by
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——————-
Blockchain Spending in 2019 to Grow to $2.9 Billion, 88.7% Growth Since 2018
The amount spent on blockchain technology by businesses seeking to utilise the trust-enhancing features of distributed ledgers is expected to grow to $2.9 million in 2019
This would represent a growth of 88.7% over the $1.5 billion spent on the technology during 2018
By: Rick D.
The amount spent on blockchain technology by businesses seeking to utilise the trust-enhancing features of distributed ledgers
is expected to grow to $2.9 million in 2019. This would represent a
growth of 88.7% over the $1.5 billion spent on the technology during
2018.
The reported figures come from the International Data Corporation
(IDC) who recently updated its “Worldwide Semiannual Blockchain
Spending Guide.†According to a representative for the IDC, the tech has
moved out of the design phase and into actual use and this shift will
drive a lot of the expected spending through the next ten months.
New Industries Finding New Ways to Use Blockchain
The IDC report states that the financial sector will continue to
account for the lion’s share of the spending on blockchain technology
during 2019. The estimated figure here is $1.1 billion. This will come
from a variety of interests, including: banking, securities and
investment services, and insurers.
Another notable sector expected to be a part of the group of biggest blockchain spenders is that of manufacturing and resources.
These industries will reportedly account for $653 million combined.
They are also expected to see the largest growth in spending over the
entire five year period with a CAGR of 77.6%.
Coming close behind manufacturing and resources is the distribution
and services industries. Firms doing business in these industries are
expected to spend $642 billion on exploring and implementing blockchain
technology during 2019.
Blockchain technology is being explored by a range of industries.
According to IDC vice president of the Customer Insights and Analysis
programme, Jessica Goepfert, the technology is still very much in its
infancy and businesses are still at the phase of explosive innovation
when it comes to its implications:
“The use cases that comprise the blockchain opportunity are
developing as swiftly as the technologies enabling it. While spending
for more developed use cases in the financial sector like trade finance
and cross-border payments is still healthy and growing strong, relative
to six months ago we’ve seen an acceleration in spending across a
variety of other areas, such as energy settlements and warranty claims.â€
As part of the report, documenting the five year period between 2018
and 2022, the IDC states that it expects the total spent on blockchain
to reach $12.4 billion by the final year of the sample.
A director of research at Worldwide Blockchain Strategies, James
Webster, commented on the projected growth in spending on blockchain:
“Blockchain is maturing rapidly, and we have reached an inflection
point where implementations are moving quickly beyond the pilot and
proof of concept phase.â€
According to Webster, the figures gathered by the IDC reports will
give crucial insight into over the technology is being adopted by
different industries and where it is having the largest impact.
Posted by AGORACOM-JC
at 10:00 AM on Friday, March 29th, 2019
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—————
Marijuana edibles: Is Canada on track to legalize them?
In a second wave of recreational legalization in Canada, cannabis edibles will be permitted for legal sale no later than Oct. 17, 2019, Health Canada has confirmed. And the market is up for grabs.
The edibles industry is expected to be worth $4.1 billion in Canada and the United States by 2022, according to a report by a marijuana market research company called The Arcview.
In a second wave of recreational legalization
in Canada, cannabis edibles will be permitted for legal sale no later
than Oct. 17, 2019, Health Canada has confirmed. And the market is up
for grabs.
The edibles industry is expected to be worth $4.1 billion in Canada
and the United States by 2022, according to a report by a marijuana
market research company called The Arcview.
As of now, in Canada, you can make
cannabis-infused food at home but it is illegal for anyone to buy and or
sell them to the public.
Canada’s proposed edible pot regulations
have been published by Health Canada and the 60-day consultation
process has come to an end. The public health agency is now reviewing
the responses.
The draft regulations
Under the proposed federal rules, a single serving would be limited to 10 milligrams of THC, the psychoactive ingredient in cannabis, and each serving must be individually wrapped. This is considered a low to moderate dose of THC.
This dosage limit is stricter than in
Colorado, Washington or California, where multiple servings are allowed
per package. So for example in a chocolate bar, each breakable square
can contain 10 milligrams each for a total of 100 milligrams.
Pot meant for ingestion cannot have alcohol, have limited caffeine and come in a plain, child-resistant package. The draft regulations say the products must not be appealing to youth and the packaging can’t advertise dessert or confectionery flavours — so no gummies shaped like bears.
The proposed rules are an attempt to address one of the main concerns
with edibles: making sure it doesn’t pose a risk to public health,
especially for those who are underage.
“In other jurisdictions, which
legalized marijuana just like the states in the U.S., one of the
problems, [with] legalizing edibles, were kids. So kids came into the
kitchen saw this wonderful nicely coloured marijuana edible and
as kids do, try it out,†said Dr. Jürgen Rehm, a senior scientist at the
Institute for Mental Health Policy Research at CAMH.
However, some are worried the black market will continue to thrive
with such strict regulations. In California, for example, which
legalized recreational marijuana and edibles last year, industry experts
say the illicit market continues to boom.
One major cannabis edibles
manufacturer in California says it’s been difficult to navigate within
the legal market because there is still so much competition in the
illicit market.
“People that are heavy consumers of
THC and like to ingest it, can ingest hundreds if not thousands of
milligrams of THC in a day and so if they have products that are
available in the illicit market that are much cheaper and have a higher
potency, they’re going to tend to go towards that rather than paying
significantly more for less THC, which is what they’ve used to consume,â€
Bryce Berryessa said, the president of La Vida Verde.
WATCH: Is marijuana good or bad for you? Everything we know about the health effects of cannabis
Berryessa says your body builds up a
pretty quick tolerance when ingesting edibles. So a lot of those people
who are currently used to consuming a higher amount of THC are still
participating in the illegal market to get access to products with
higher potencies.
Rehm who has been working on the
field of mental health and cannabis consumption says it’s better to have
an incremental approach when it comes to edibles.
“The problem with edible marijuana is
that people are not used to it. A lot of the people once they smoke
marijuana. They feel the effects pretty quickly. With edibles, the
effects can be later. And people say ‘Oh, I have now done this edible
marijuana and I feel nothing’ and they have more and more,†Rehm said.
To avoid putting people at risk, it
would be better to start with a low dosage and once we have clear
evidence the black market is still thriving, then we can re-evaluate it,
he added.
“So with all the legislation, with
all the upper limits of THC or other points, we have to be in a way so
we can reap the benefits of legalization (i.e safer product and not lose
some of the consumers to the black market). And frankly, I think there
will be a lot of trial and error in the next one to two years.â€
Health Canada confirms that they have
received 7,000 responses from Canadians, industry representatives, the
provinces and the public health community on the proposed edibles draft
regulations. Now, the agency is reviewing the comments and considering where adjustments can be made.
Those in the marijuana industry, however, are skeptical the
government will make the edibles deadline set for themselves. When it
came to recreational pot, legalization was first promised on Canada day,
but the actual date wasn’t for a couple of months later.
Health Canada could not comment on
when we will see the updated draft but confirmed that cannabis products
will be permitted for legal sale no later than Oct. 17, 2019.
Posted by AGORACOM-JC
at 9:43 AM on Friday, March 29th, 2019
Veteran Sales Executive to Lead Los Angeles Sales Office for Fastest Growing Gaming Property
Announced that it has hired David Newman as Vice President of Sales.
David brings more than 18 years of experience across multiple disciplines, including sales, marketing, business development, and public relations, and is expected to play a key role in driving the national sales strategies
TORONTO, March 29, 2019 — Enthusiast Gaming Holdings Inc. (TSXV: EGLX) (OTCQB: EGHIF), (“Enthusiast†or the “Companyâ€), a gaming company building the largest community of authentic gamers, is excited to announce that it has hired David Newman as Vice President of Sales. David brings more than 18 years of experience across multiple disciplines, including sales, marketing, business development, and public relations, and is expected to play a key role in driving the national sales strategies for Enthusiast Gaming in an attempt to achieve its revenue objectives.
Prior to joining Enthusiast Gaming, David served as the Director,
Brand Partnerships for Machinima (Warner Media / AT&T), based in LA,
California. Previous to Machinima, David spent a number of years as the
Director, Sales for Vox Media and CBS Interactive, where he led
National Sales teams to deliver exceptional results year after year,
including activations and partnerships with Microsoft Xbox, Activision,
2K Games, Qualcomm and Modelo.
David will be heading the Los Angeles office and will focus on
building out key activations for brands and agencies looking to target
Esports and video game verticals. His extensive sales experience across
various media and advertising industries will be instrumental in helping
execute the long term direct sales strategy of Enthusiast Gaming, and
in helping develop and foster key advertising partnerships.
Recently ranked as the fastest growing gaming property in North
America by ComScore, Enthusiast Gaming believes the addition of David is
a significant step in strengthening its direct sales team and in
driving revenue and key partnership growth.
Menashe Kestenbaum, CEO of Enthusiast Gaming commented, “We
are thrilled to welcome David to our North America sales team. His
experience in media and advertising sales and proven track record of
delivering results is invaluable to the growth of Enthusiast’s key
partnerships. One of our main focuses for 2019 is to build out a
successful direct sales strategy to drive revenue, and David will be a
valuable asset for Enthusiast to do so.â€
Founded in 2014, Enthusiast is the fastest-growing online community
of video gamers. Through the Company’s unique acquisition strategy, it
has a platform of over 80 owned and affiliated websites and currently
reaches over 75 million monthly visitors with its unique and curated
content and over 50 million YouTube visitors. Enthusiast also owns and
operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo,
EGLX, (eglx.ca) with over 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com.
CONTACT INFORMATION:
Investor Relations: Julia Becker Head of Investor Relations & Marketing [email protected] (604) 785.0850
This news release contains certain statements that may constitute
forward-looking information under applicable securities laws. All
statements, other than those of historical fact, which address
activities, events, outcomes, results, developments, performance or
achievements that Enthusiast anticipates or expects may or will occur in
the future (in whole or in part) should be considered forward-looking
information. Such information may involve, but is not limited to,
comments with respect to strategies, expectations, planned operations
and future actions of the Company. Often, but not always,
forward-looking information can be identified by the use of words such
as “plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or
variations (including negative variations) of such words and phrases, or
statements formed in the future tense or indicating that certain
actions, events or results “may”, “could”, “would”, “might” or “will”
(or other variations of the forgoing) be taken, occur, be achieved, or
come to pass. Forward-looking information is based on currently
available competitive, financial and economic data and operating plans,
strategies or beliefs as of the date of this news release, but involve
known and unknown risks, uncertainties, assumptions and other factors
that may cause the actual results, performance or achievements of
Enthusiast to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information. Such factors may be based on information currently
available to Enthusiast, including information obtained from third-party
industry analysts and other third-party sources, and are based on
management’s current expectations or beliefs regarding future growth,
results of operations, future capital (including the amount, nature and
sources of funding thereof) and expenditures. Any and all
forward-looking information contained in this press release is expressly
qualified by this cautionary statement. Trading in the securities of
the Company should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
The securities of the Corporation have not
been and will not be registered under the United States Securities Act
of 1933, as amended and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirement. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
Tags: esports, gaming Posted in Enthusiast Gaming Holdings Inc. | Comments Off on Enthusiast Gaming $EGLX.ca Hires Former #CBS Interactive and #Vox Media Sales Director as VP of Sales $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca
Posted by AGORACOM-JC
at 8:13 AM on Friday, March 29th, 2019
Pandora royalty was part of the assets that Monarch acquired from Richmont Mines in October 2017
In return for the Pandora royalty, Monarch’s payments for the McKenzie Break and Swanson properties will be reduced by $800,000
MONTREAL, March 29, 2019 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report that it has sold a 0.5% Net Smelter Return (NSR) royalty on the Pandora property (the “Pandora royalty”) to Agnico Eagle Mines Limited.  The Pandora royalty was part of the assets that Monarch acquired from Richmont Mines in October 2017. In return for the Pandora royalty, Monarch’s payments for the McKenzie Break and Swanson properties will be reduced by $800,000, as follows:
Dates
Payment
Original Agreement
Amended Agreement
Status
December 21, 2017
Payment in shares
$600,000
$600,000
Paid
December 21, 2018
Cash payment
Payment in shares
$400,000
$600,000
$400,000$600,000
Paid Paid
December 21, 2019
Cash payment
Payment in shares
$400,000
$600,000
$400,000–
December 21, 2020
Cash payment
Payment in shares
$400,000
$600,000
$400,000$400,000
December 21, 2021
Cash payment
Payment in shares
$400,000
$600,000
$400,000$600,000
Total
$4,600,000
$3,800,000
“This is a great deal for Monarch, allowing us to reap even more
benefits from the Richmont transaction by monetizing a non-core asset,”
said Jean-Marc Lacoste, President and Chief Executive
Officer of Monarch. “The McKenzie Break property has gained tremendously
in value since we started drilling in 2018, as we have been able to
expand the deposit and confirm its high-grade potential. As mentioned in
our March 20, 2019
press release, we are presently analyzing the results of the 2018
drilling on McKenzie Break and planning the follow-up program for 2019.”
Monarch Gold Corporation (TSX: MQR) is an emerging gold mining
company focused on pursuing growth through its large portfolio of
high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map),
including the Wasamac deposit (measured and indicated resource of 2.6
million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson
advanced projects and the Camflo and Beacon mills, as well as other
promising exploration projects. It also offers custom milling services
out of its 1,600 tonne-per-day Camflo mill.
Forward-Looking Statements The forward-looking
statements in this press release involve known and unknown risks,
uncertainties and other factors that may cause Monarch’s actual results,
performance and achievements to be materially different from the
results, performance or achievements expressed or implied therein.
Neither TSX nor its Regulation Services Provider (as that term is
defined in the policies of the TSX accepts responsibility for the
adequacy or accuracy of this press release.
Posted by AGORACOM-JC
at 6:14 PM on Thursday, March 28th, 2019
10 years – that’s how long Lomiko Metals has been predicting, waiting and preparing for the the Electric Vehicle explosion that is now set to take place over the next 10 years.
The Company is in the enviable position of having a high purity Graphite deposit that is also located just 1.5 hours outside of Montreal.
Watch CEO Paul Gill discuss why Lomiko is positioned to now become a major player in the battery metals space.
Posted by AGORACOM-JC
at 2:50 PM on Thursday, March 28th, 2019
SPONSOR: Enthusiast Gaming Holdings Inc.
(TSX-V: EGLX) Uniting gaming communities with 80 owned and affiliated
websites, currently reaching over 75 million monthly visitors. The
company partial 2018 reported revenue of $7.4 million representing a
625% increase over the same period in 2017.
Drake — along with media and tech heavyweights Marissa Mayer, Strauss
Zelnick and others — is investing $3 million into the seed funding
round for Players’ Lounge,
an esports platform where gamers can play their favorite video games
against others for prizes straight from their living room.
Why it matters: It’s the latest example of a celebrity investing in esports. NBA superstar Chris Bosh joined
esports franchise Gen.G as a player management advisor last year. Other
big names, from Michael Jordan to Steph Curry, are investing in
professional esports teams.
Other investors include Comcast, Macro Ventures, Canaan, RRE, and Courtside VC.
The details: Players’ Lounge allows gamers to
compete in skill-based esports competitions for cash prizes. Its mission
is to create a social platform for casual gamers to connect, get
matched, and compete without having to be a pro.
This is different from platforms like Twitch or YouTube gaming that focus on streaming tournaments.
Like Instagram, Players’ Lounge is hoping to give average people a
platform to compete and win money on esports games, in hopes of
eventually popularizing winners and leveraging their influencer status
to grow the brand.
Players can compete on PS4, Xbox One or PC devices. Anyone can make
an account and deposit funds into their Players’ Lounge account via
credit card, PayPal or cryptocurrency.
Once the scores are verified, the winner receives the prize money
from the pool players invested in upfront. These are usually small sums
that players can compete for incrementally, although the company does
also host bigger tournaments.
Players’ Lounge says it gives out millions of dollars worth of cash prizes each month.
The big picture: Players’ Lounge is making it easy
for casual gamers to earn cash from esports. Otherwise, the only way to
make money in esports is to go pro, which takes a lot of time and
resources, or to become a streamer via Twitch or Youtube, which focuses
more on personality than gaming skills.
“It’s kind of like the intramural network for esports. There’s a huge community potential.”
— Austin Woolridge, cofounder and CEO of Players’ Lounge
Bottom line: Esports is still a fledgling industry
compared to professional sports, but big names are investing in it
because it’s growing so fast, and the upside looks promising.
Celebrities, and especially celebrity athletes, see this as a way to
connect with hyper-engaged sports fans, who may not have the appetite to
participate in real sports but still want to compete with peers and
develop a community around game play.
