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Enthusiast Gaming $EGLX.ca Reports 625% Revenue Growth YTD in Third Quarter 2018 $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 11:33 AM on Tuesday, November 27th, 2018

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  • Announces highest revenue generating quarter with $2.8 million in revenue compared to $659 thousand in 2017
  • YTD revenue of $7.9 million representing a 625% increase over the same period in 2017
  • Completed seven strategic acquisitions YTD, contributing significant user and revenue growth

TORONTO, Nov. 27, 2018 — Enthusiast Gaming Holdings Inc. (“Enthusiast” or the “Company”) (TSXV: EGLX), a digital media company building the largest community of authentic gamers, today, reported its unaudited financial results for the three and nine months ended September 30, 2018.

Enthusiast is pleased to report a significant increase in revenue as compared to the same period in 2017. Total revenue in Q3 2018 increased to $2,818,337 compared to $659,333, the same period in 2017 or an increase of 327%. For the nine months ended September 30, 2018, revenues increased to $7,387,850 as compared to $1,018,770 for the nine months ended September 30, 2017.  The increase in revenues in 2018 is primarily as a result of Enthusiast Gaming executing on its growth strategy through a combination of organic growth and strategic acquisitions. There was a significant increase in the number of websites joining the network of which the Company monetizes. Enthusiast also acquired the assets associated with numerous online websites already on the platform, enabling the Company to capitalize on 100% of the revenues generated by the websites. Both factors support the significant growth in revenue.

Menashe Kestenbaum, CEO of Enthusiast Gaming commented, “The last quarter was significant for Enthusiast. Not only did we continue building operational momentum while achieving corporate milestones, like closing the RTO and listing on the Toronto Venture Stock Exchange, we were able to continue delivering on our growth strategy, which is evident in the increase in revenue during third quarter.” He continued, “typically in our business, the fourth quarter is the largest revenue generating quarter, and we are well positioned to deliver significant growth and outperform our annual revenue projections of $10M.”

Third Quarter 2018 and Recent Company Highlights

  • Completion of the Business Transaction (“RTO”) with Tova Ventures II Inc. and concurrent private placement. In connection with the Transaction, the Company consolidated its common shares on the basis of one post-consolidation share for each 4.2 pre-consolidation shares (the “Consolidation”) and changed its name to “Enthusiast Gaming Holdings Inc.”
  • On October 4, 2018,  the Company listed on the Toronto Venture Stock Exchange (“TSXV”) under the symbol EGLX.
  • On June 22, 2018, the Company acquired all the assets of “Gameumentary”, a video games journalism outlet that produces video game documentaries.
  • On July 3 2018, Enthusiast acquired Escapist Magazine (“Escapist”), and brought back founding Editor, Russ Pitts, as Editor-in-Chief. Escapist is a leading online magazine covering mostly video games as well as movies, comics, TV, and more.
  • On July 6, 2018, Enthusiast acquired the IncGamers Brand (“IncGamers”), including PC Invasion and Diablo and purchased all related assets. IncGamers is a leading online video game news, analyst, opinion, and overall entertainment venue for gamers.
  • Completion of  an oversubscribed, non-brokered private placement of convertible debenture units for total gross proceeds of $9,000,000 on November 8, 2018
  • On November 14, 2018, Enthusiast acquired the assets of Operation Sports LLC (“Operation Sports”), one of the largest online sports video gaming news and community forums.
  • Enthusiast Gaming Live Expo, EGLX, was held on October 26-28 at the Metro Toronto Convention Centre. EGLX is the largest video game expo in Canada. Over the three events, over 30,000 people attended, and the expo was sold out and at capacity on Saturday.

Financial Highlights

  • For the three months ended September 30, 2018, revenue increased to $2.8 million from $659 thousand in 2017
  • For the nine months ended September 30, 2018, revenues amounted to $7,387,850 as compared to $1,018,770 for the nine months ended September 30, 2017
  • Cash losses for the 9 month period were  $4,011,748, largely attributable to expenses associated with the RTO and cost of the acquisitions
  • As of September 30, 2018, the Company had $7.23 million in cash and cash equivalents, not including the $9 million raised through the issuance of convertible debentures in November 2018.

About Enthusiast

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. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (www.eglx.ca). Over 30,000 people attended EGLX in October 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

Eric Bernofsky, COO & SVP Finance
[email protected]

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.

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Esports Entertainment Group $GMBL Appoints CFO $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 8:15 AM on Tuesday, November 27th, 2018

  • Announced the appointment of Christopher Malone, CPA/CMA as Chief Financial Officer
  • Mr. Malone is the founding Director of PrOasis, a professional consulting firm, where he has spent the past 26 years managing the firm which focuses on executive management, corporate finance, strategic planning and governance for major Canadian SME organizations.

ST. MARY’S, ANTIGUA / November 27, 2018 / Esports Entertainment Group, Inc. (GMBL: OTCQB) (or the “Company”), a licensed online gambling company with a specific focus on esports wagering and 18+ gaming, is pleased to announce the appointment of Christopher Malone, CPA/CMA as Chief Financial Officer.

Mr. Malone is the founding Director of PrOasis, a professional consulting firm, where he has spent the past 26 years managing the firm which focuses on executive management, corporate finance, strategic planning and governance for major Canadian SME organizations. He currently holds the positions of Chief Financial Officer and Director for an OSC registered Fund Manager, as well as, an IIROC registered Broker-Dealer member.

Mr. Malone has an extensive listing, regulatory reporting and governance experience with private businesses and public companies on Regulatory organizations and Exchanges in Canada and the United States. His experience stems from over 35 years of senior financial and information technology systems roles in some of Canada’s largest domestic and multi-national organizations. He has held senior-level financial executive positions in food processing, telecom, media advertising, document management, and financial service organizations.

Mr. Malone holds a CPA/CMA designation and graduated from the University of Western Ontario with a B.A. in Commerce and Economics.

Grant Johnson, CEO of Esports Entertainment Group stated “We are very pleased with the addition of Chris to our senior management team. His experience at the highest levels of finance and information technology organizations, with stringent reporting requirements to regulators on both sides of the border, will be invaluable now that our Company has secured financing and embarks on aggressive growth plans within the global esports industry.”

This press release is available on our Online Investor Relations Community for shareholders and potential shareholders to ask questions, receive answers and collaborate with management in a fully moderated forum at https://agoracom.com/ir/EsportsEntertainmentGroup

Redchip investor relations Esports Entertainment Group Investor Page:

http://www.gmblinfo.com

About Esports Entertainment Group

Esports Entertainment Group Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers bet exchange style wagering and pool betting on esports events in a licensed, regulated and secure platform to the global esports audience. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from online gambling and the video game industries, and esports. The Company holds licenses to conduct online gambling and 18+ gaming on a global basis in Curacao, Kingdom of the Netherlands and the Kahnawake Gaming Commission in Canada. The Company maintains offices in Antigua, Curacao and Warsaw, Poland. Esports Entertainment Group common stock is listed on the OTCQB under the symbol GMBL. For more information visit www.esportsentertainmentgroup.com

.FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

Corporate Finance

1-268-562-9111

[email protected]

Media & Investor Relations Inquiries
AGORACOM
[email protected]
http://agoracom.com/ir/eSportsEntertainmentGroup

 

 

U. S. Investor Relations

RedChip

Dave Gentry

407-491-4498

[email protected]

SOURCE: Esports Entertainment Group, Inc.

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Posted in All Recent Posts, Esports Entertainment Group, Esports Entertainment Group Inc., eSports Investing, Featured | Comments Off on Esports Entertainment Group $GMBL Appoints CFO $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Esports Entertainment Group $GMBL – All in the game: Taking #Esports to the masses

Posted by AGORACOM-JC at 11:52 AM on Monday, November 26th, 2018

SPONSOR: Esports Entertainment Group (GMBL:OTCQB) The esports betting site trusted by over 176 esports teams from around the world. Click here for more information.

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  • The professional Dota 2 eSports team, OG, caused a major upset by winning the richest eSports tournament to date, The International 2018
  • Held at the 20,000 seat Rogers Arena in Vancouver, the $25 million tournament was witnessed by a capacity crowd over its six-day run and live-streamed by a peak audience of close to 15 million people

eSports is pioneering workflows that could be picked up by mainstream sports coverage, and with rising interest and growing prize pots, the influence of eSports looks set to increase.

On August 25, the professional Dota 2 eSports team, OG, caused a major upset by winning the richest eSports tournament to date, The International 2018. Held at the 20,000 seat Rogers Arena in Vancouver, the $25 million tournament was witnessed by a capacity crowd over its six-day run and live-streamed by a peak audience of close to 15 million people.

In many respects, despite a total airtime of 122 hours, an eSports tournament workflow for an event such as T18 looks very similar to a conventional sporting event, as the graphic below from Newtek shows. The only real difference lies in swapping the cameras and audio that would normally be capturing physical sporting action for gameplay capture, with production cameras being deployed essentially for cutaways, commentary and reaction shots.

NewTek’s eSports workflow

With little or no heritage of using legacy broadcast circuits, IP-based workflows are increasingly dominant in the eSports field as is remote production, which is becoming commonplace even at an intercontinental level. Coupled with the growing use of cloud-based tools, there’s a sense that eSports is pushing workflows that will become mainstream in regular sports coverage not too far down the line.

This can inevitably entail the use of serious amounts of bandwidth and fewer and fewer productions are happy to be using the public internet, preferring to rent large pipes for their exclusive use.

As a case in point, The Switch supplied the 12th BlizzCon last month with 800Mbps of connectivity between California’s Anaheim Convention Centre to AWS, not to mention a 50Mbps link for ESPN to handle content for Twitter.

Private networks also minimise the problem of latency. Aside from the desire to attract audiences — and BlizzCon, for example had 40,000 attendees — one of the main reasons that tournaments take place in arena settings rather than having players log in from home is to provide an even playing ground when it comes to connectivity. Lowest costs circuits are not always the best nor the most direct route, a factor which contributed to League of Legends developer Riot Games building its own dedicated backbone, Riot Direct.

This is a move more commonly associated with major tech companies such as Google and Facebook, but provides a much more direct route. The diagram below shows the impact when the return path, marked here in red, from Chicago to a player in Portland was computed by the standard Border Gateway Protocol.

Solo streamer
eSports is, however, about more than the tournaments, with influencer-based social video a key component on platforms such as the Amazon-owned Twitch, the Microsoft-owned Mixer, Smashcast, Caffeine, and an increasing number of other outlets.

Monetised by a combination of adverts and subscriptions, some of the players are becoming genre stars in their own right, led by the Fortnite-playing Ninja, who currently has over 12 million followers.

The tech behind connecting player to audience tends to be the standard value-end of broadcast kit list as developed and refined on YouTube over the years, with added computing grunt and specialist live-streaming and video mixing apps such as player.me, XSplit or OBS to allow broadcasters to intercut the gameplay. Additional specialist broadcasting software such as StreamLabs, StreamElements, Muxy and OperaEvent provide an impressive and constantly evolving array of engagement and monetisation tools.

Over 200 third-party extensions are now available for Twitch alone, which generate customisable onscreen info about everything from player stats to avatars to viewer polls, provide tipjar functionality, enable charity donations, viewer-chat and a whole lot more.

Sports crossover
Viewer chat and the live, interactive and communal nature of game streaming is considered by many to be one of eSports’ killer apps and live viewing is very much where the action is. Data from the most recent Nielsen eSports Fan Insight survey suggests that in the past 12 months 72% watched a live streaming event online, dropping to 48% for a pre-recorded match.

So far, so normal sports, but one of the dangers of mapping traditional sports paradigms onto eSports is that it is a very different mindset.

“Monetisation remains problematic when measured against an established culture of free content”

According to Nielsen data, eSports fans are, in general, video game fans first and foremost. They may spend on average 8% of their media time consuming eSports, but they spend nearly a quarter of their time playing video games themselves.

The reason they watch eSports is primarily to become better players themselves; they are active participants in the same games in a way that traditional sports organisations trying to build grassroots fanbases can only dream about.

This has implications. First, despite the draw of live events, there is a huge audience for VOD highlights and replays. Add in that factor and YouTube actually overtakes Twitch as the most popular source of eSports programming, at least in the US market. It means there is distinct demand for clips and highlights, and a real opportunity for analysis and annotation.

Second, it will necessarily impact on the way that the increasing amount of eSports athlete data being captured is presented. Traditional sports player stats such as metres run or tackles made, serve to highlight the difference between the elite athletes and the watching viewer. But given the different levels of engagement with eSports, the sense is that data should be presented more as aspirational: you can do this too if you practice hard enough.

As an example of the sort of metrics that are starting to feed into the game, Turner Sports has started to use eye-tracking technology to track individual player’s focus of intent during games which are then analysed post-match. The broadcaster is also adding the sort of sports science analysis that has become a staple of traditional sports in recent years, measuring factors such as response times and the visual acuity of the players.

Monetisation, ads, and evolution
One interesting current trend in eSports broadcasting is the demand of the narrative, which is stemming less from a traditional sports model and more from a sports entertainment perspective. This demands both additional resource on behalf of the streaming services for capturing content specific to it, as well as more input at the tournament planning stage to ensure the ‘right’ personalities end up pitted against each other. Whether this will become the dominant format becoming further emphasised moving forward or whether eSports will default to what can be considered a more purist, skills-first model will depend on the audience sizes achieved.

As will monetisation. As with much of the online media space, monetisation remains problematic when measured against an established culture of free content. Nielsen data suggests that as many as 1 in 3 eSports viewers would refuse to pay anything to watch any eSports content, though that has to be contrasted against culture that is happy to crowd-fund the huge purse on offer at T18, for instance.

Happily for continuing to fund the expansion in eSports, a similar figure suggested they would pay for ad-free video. This might be tested sooner rather than later though. Amazon-owned Twitch drew criticism for ending ad-free viewing on Twitch Prime (essentially a suite of benefits for Amazon Prime subscribers) in September, directing those who wanted an ad free experience to the $8.99 monthly Twitch Turbo service.

Measuring the impact of that will be instructive, though, of course, apart from revealing that over a million people are watching at any given moment, like its owner Twitch tends to keep its viewing figures to itself. It continues to innovate to stay ahead of a surging market though, for example announcing the forthcoming karaoke-style interactive Twitch Sings that allows viewers to request songs through chat only last month.

Speaking at the October TwitchCon 2018, Twitch CEO, Emmett Shear, said: “I think we’re still at very early days on Twitch. It still feels like the start of the streaming world.”

And with eSports revenues predicted to hit $905 million or more this year and still rising, the real tournament is only just starting.

Source: https://www.ibc.org/delivery/all-in-the-game-taking-esports-to-the-masses/3463.article

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Esports Entertainment Group $GMBL Announces Closing of $2 Million Private Placement $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 8:21 AM on Monday, November 26th, 2018

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  • Announcd the closing, on October 18, 2018, of a private placement of Notes, which resulted in gross proceeds of $2.2 million, before deducting placement agents” fees and estimated offering expenses.
  • Company issued senior secured convertible promissory notes bearing interest at 5% per annum.
  • The Notes, with a principal value of $2,200,000, were purchased at a 10% discount for $2,000,000 and mature 12 months from the closing date.

ST. MARY’S, ANTIGUA / November 26, 2018 / Esports Entertainment Group, Inc. (OTCQB: GMBL) (or the “Company”), a licensed online gambling company with a specific focus on esports wagering and 18+ gaming, is pleased to announce the closing, on October 18, 2018, of a private placement of Notes, which resulted in gross proceeds of $2.2 million, before deducting placement agents” fees and estimated offering expenses.

The Company issued senior secured convertible promissory notes bearing interest at 5% per annum (the “Notes”). The Notes, with a principal value of $2,200,000, were purchased at a 10% discount for $2,000,000 and mature 12 months from the closing date. The holders of the Note would be entitled at any time after the requisite 144 holding period, to convert all or any amount of the principal face amount of the Notes then outstanding into common shares at a price of $0.60 per share. 100% warrant coverage would be exercisable for a period of 3 years post issuance at an exercise price of $0.75 per share.

Grant Johnson, CEO of Esports Entertainment Group stated “This is a major milestone for our company. After announcing our engagement of Joseph Gunnar & CO and Dinosaur Financial Group as our exclusive investment bankers in July, we now have our first successful financing and I want to thank them for this great vote of confidence. This financing will allow us to significantly accelerate our growth plans, which have already seen us sign affiliate agreements with 176 esports teams in the last several months, and will see us embark on a campaign to further partner with influential esports groups. Our shareholders should be very excited about this and have much to look forward to in the coming weeks and months.”

Joseph Gunnar & Co., LLC acted as Placement Agent

The securities offered and sold by the Company in the private placement were not registered under the Securities Act of 1933 or state securities laws and may not be offered or sold in the United States absent registration with the U.S. Securities and Exchange Commission or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock, including shares of common stock issuable upon exercise of the warrants, to be issued in the private placement. Any resale of the Company”s securities under such resale registration statement will be made only by means of a prospectus.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

About Esports Entertainment Group

Esports Entertainment Group Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers bet exchange style wagering and pool betting on esports events in a licensed, regulated and secure platform to the global esports audience at our website, vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from online gambling and the video game industries, and esports. The Company holds licenses to conduct online gambling and 18+ gaming on a global basis in Curacao, Kingdom of the Netherlands and the Kahnawake Gaming Commission in Canada. The Company maintains offices in Antigua, Curacao and Warsaw, Poland. Esports Entertainment common stock is listed on the OTCQB under the symbol GMBL. For more information visit www.esportsentertainmentgroup.com.

This press release is available on our Online Investor Relations Community for shareholders and potential shareholders to ask questions, receive answers and collaborate with management in a fully moderated forum at https://agoracom.com/ir/EsportsEntertainmentGroup

Redchip investor relations Esports Entertainment Group Investor Page:

http://www.gmblinfo.com

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

Corporate Finance

1-268-562-9111
[email protected]

Media & Investor Relations Inquiries

AGORACOM
[email protected]
http://agoracom.com/ir/eSportsEntertainmentGroup

U.S. Investor Relations

RedChip
Dave Gentry
407-491-4498
[email protected]

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Posted in Esports Entertainment Group, Esports Entertainment Group Inc., eSports Investing, Featured | Comments Off on Esports Entertainment Group $GMBL Announces Closing of $2 Million Private Placement $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Esports Entertainment $GMBL – League of Legends #LOL stars move into new #Esports town in China $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca

Posted by AGORACOM-JC at 9:38 AM on Friday, November 23rd, 2018

SPONSOR: Esports Entertainment Group (GMBL:OTCQB) The esports betting site trusted by over 176 esports teams from around the world. Click here for more information

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  • Hangzhou government planning 14 esports venues before 2022 Asian Games
  • A new Â¥2 billion RMB (US$280 million) ‘esports town’ has opened to the public in China, according to a report from People.cn.
  • The complex – apparently one of the biggest projects of its kind in China – has been unveiled in Hangzhou, the capital of China’s Zhejiang province, and will be managed by the local government.

By: Steven Impey

Getty Images

A new ¥2 billion RMB (US$280 million) ‘esports town’ has opened to the public in China, according to a report from People.cn.

The complex – apparently one of the biggest projects of its kind in China – has been unveiled in Hangzhou, the capital of China’s Zhejiang province, and will be managed by the local government.

The project is expected to reel in ¥1 billion RMB (US$140 million) in tax revenue, according to the report, and attract more than 10,000 aspiring esports professionals.

Around ¥15.45 billion RMB (US$2.22 billion) has been earmarked for the multi-venue project, which will reportedly involve various esports facilities including an academy, hotel, theme park, a business centre, and also a hospital for esports players.

LGD Gaming, which signed a partnership with Allied Esports to build the facility in Hangzhou, will make the venue home to the League of Legends Pro League (LPL).

Overall, the Hangzhou government plans to build 14 esports venues before it hosts the 2022 Asian Games, which is set to include an esports medal event for the very first time.

Hangzhou was also recently named as one of the expansion cities for the second season of Activision Blizzard’s Overwatch League.

Source: http://www.sportspromedia.com/news/league-legends-esports-town-china

 

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Atlanta Bought an #Overwatch #Esports Team. Here’s Why You Should Care As A $GMBL investor $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 10:04 AM on Thursday, November 22nd, 2018

SPONSOR: Esports Entertainment Group (GMBL:OTCQB) The esports betting site trusted by over 176 esports teams from around the world. Click here for more information

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Esports is one of the fastest growing sports in the world—and Atlanta is becoming its Southeast hub

By Joe Reisigl – November 15, 2018

The London Spitfire won the championship in Overwatch League’s first season.Photograph courtesy of Overwatch League

It was pure pandemonium in Brooklyn’s Barclays Center. Confetti sprinkled through the sky, a roar ran through a crowd of thousands, and a team of six, the London Spitfire, all took their hands off their keyboards and mice to embrace each other in celebration of their victory while their opponents, the Philadelphia Fusion, hung their heads in defeat.

The venue was sold out, with more than 20,000 tickets sold, while live TV and online streams from Disney XD, ABC, Twitch.tv, and, most notably, ESPN, brought in an additional 860,000 viewers per minute from around the globe.

All of this just to watch 12 millennials compete professionally in a video game called Overwatch. With ESPN airing the game during primetime television (7 p.m. on a Friday), the July 27-28 event was huge for showcasing the rise of eSports.

Atlanta is going all-in on the phenomenon. The city will soon have its own Overwatch League team, the first eSports team to officially represent Atlanta. The team was purchased in July by consulting firm Province, Inc. and Atlanta-headquartered Cox Enterprises. The two companies created a joint venture, Atlanta Esports Ventures, which is assembling the team, named the Atlanta Reign.

The official logo of Atlanta’s Overwatch League team, Atlanta Reign.Photograph courtesy of Atlanta Reign

Cool, you might say, but who cares about watching other people play video games? While many are still unaware of what eSports is or don’t take it seriously, the industry is more than YouTube personalities and Twitch streamers making millions of dollars a year for screaming at monitors and guzzling energy drinks—it’s a force to be reckoned with.

With more than $500 million dollars coming in from advertising and sponsorships this year, a projected $1 billion revenue in 2019, and a staggering 38 percent year-to-year revenue growth, eSports is one of the fastest growing sports in the world. And there’s a reason why: businesses want to appeal to young people.

“[Esports] is outpacing any other sport—traditional or not—by a wide margin,” says Paul Hamilton, president and CEO of Atlanta Esports Ventures. “You’re seeing a huge number of eyes in a demographic that, traditionally, has been hard to reach.”

Paul Hamilton, president and CEO of Atlanta Esports Ventures, went to the Overwatch League Grand Finals at Barclays Center. “I’m a total sports nut, and the energy in that room was as loud and energized as any championship in any sport I’d ever been to,” he says.Photograph courtesy of Cox Enterprises

However, eSports has had problems in its players lacking professionalism, making sponsors hesitant to invest in a league with improper behavior, or one with a lack of structure that makes it difficult for for casual viewers to follow along with their favorite games. That’s where Overwatch League comes in.

By copying the format of professional sports leagues, Overwatch League is the first eSports league that seems to be doing everything right. It franchises teams by city—from Los Angeles to London to Seoul to Shanghai—which increases local interest by giving fans a home team to rally around. It organizes games similar to the NBA and NHL with a preseason, regular season, all-star break, and playoffs, creating a format that’s easy to comprehend. It keeps the production value of its brand and events top-notch, with codes of conduct for its players and coaches (which it is enforcing), energetic announcers, enthusiastic fans, and primetime TV spots. And the league gets sponsorships and offers large sums of money to winning teams—$3.5 million was the prize pool in 2018.

What’s most important: Overwatch League is turning eSports into a financially viable option for businesses to invest.

“It helps [Cox Enterprises] align with a new demographic,” says Dallas Clement, executive vice president and chief financial officer of Cox Enterprises. “Young folks who are enormously enthusiastic about eSports and gaming will possibly think of Cox as a place to come and work.”

Photograph courtesy of Overwatch League

“Within the next two to three years, Atlanta will probably be the hub of eSports,” says Mustafa Aijaz, chief operating officer of SoaR Gaming, a gaming organization that’s housed in metro Atlanta because of its booming eSports potential.

The number of gaming companies and opportunities in Atlanta is astounding. Thanks to the same entertainment tax credits that apply to the film industry, hundreds of gaming companies have moved to the metro Atlanta area, including video game developer Hi-Rez Studios; Scuf Gaming, which creates custom game controllers and accessories; and KontrolFreek, which creates thumb grips for gaming controllers. In 2016, Turner Broadcasting opened ELEAGUE, which broadcasts competitive eSports on TBS on Fridays at 11 p.m. In August, the Atlanta Hawks announced they would be purchasing a franchise named Hawks Talon Gaming Club to join the NBA’s eSports league, the NBA 2K League. Georgia State University has joined the National Association of Collegiate Esports and the Georgia Esports League, where it’s providing scholarships and assembling a team to play League of Legends and Smite competitions. SCAD posted a job position for an eSports head coach to supervise its Overwatch and League of Legends teams. Every day, gamers go to bars like Battle & Brew or Joystick Gamebar and every year they pack the Georgia World Congress Center for expo and competition DreamHack. Even Atlanta’s culture icons are getting into gaming: Lil Yachty played the world’s most popular game at the moment, Fortnite, with Ninja, the game’s most popular player, to create a video that garnered 11 million views on YouTube. And Waka Flocka has performed at DreamHack and competed in a FIFA 18 tournament for this summer’s MLS All-Star Game.

With the world’s largest airport in its back pocket and the perfect geographical location to be a center point for gamers in the Southeast, Aijaz thinks Atlanta is the third largest area for eSports, behind California and Texas.

Photograph courtesy of Overwatch League

“There are so many opportunities in Atlanta, it’s only going to get bigger and bigger,” he says. “Starting with this Overwatch League, I’m only waiting to see what’s to come.”

“Esports is just something that needs to be culturally accepted, and time will be the only thing that will allow that,” says Michael “Makz” Maknojia, SoaR’s founder and CEO. “Being on top of these things first rather than waiting is huge, and it’s good that Atlanta got into it now.”

Source: https://www.atlantamagazine.com/news-culture-articles/atlanta-bought-an-overwatch-esports-team-heres-why-you-should-care/

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#Dota 2 tournament showed me the future of #Esports $GMBL $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 10:26 AM on Wednesday, November 21st, 2018

The three-day event laid out why competitive gaming is in the future of entertainment, though the contest wasn’t without its flaws.

Aloysius Low/CNET

Despite being a huge fan of esports, and Dota 2 in particular, I’ve never actually sat down at an esports competition from beginning to end. I’m a journalist. I usually have a job to do: Running about, doing interviews and meeting executives to hear them talk about the future of competitive gaming.

Dota 2 is a multiplayer online battle arena (MOBA) game that pits two teams of five against each other. The aim of the game is not to kill the other team’s heroes, of which there are 115 to pick from, all with different skill sets, but to destroy the enemy’s main building. And with each hero sporting their own unique abilities, the game can often be confusing and chaotic for a new viewer. But I digress. Where were we?

Oh yes. The future of esports. I’m always talking about the future of esports.

This time, however, I committed to the present. At this year’s first competitive Dota 2 Major tournament in Kuala Lumpur, Malaysia, I found myself sitting down. Enjoying the experience. Instead of, you know, doing work.

Casters and analysts of the Dota 2 Major were celebrities in their own right.

Aloysius Low/CNETAnd it was then that I realised what I’ve been missing out the entire time I’ve been covering esports: The event itself. The exhilarating atmosphere that you’d only experience by sitting with a massive crowd and cheering for your favorite team. The present.

I’ve watched Dota 2 tournaments from home on my comfortable couch, with my two cats beside me, whooping as my team kicked butt. I found myself wondering if I had wasted time and money flying up from Singapore, unable to go through with my planned interviews.

Fans gather around the Dota 2 logo outside the arena for a photo.

Aloysius Low/CNETBut it was a lower-bracket game, a battle between two hot favorites, Evil Geniuses and Ninjas in Pyjamas, that had the crowd unified in excitement. Regional Southeast Asia teams had been eliminated, so with no local team to root for the crowd took the initiative and cheered everything. Every single play, every kill. They drowned the Axiata Arena in wild hoots of excitement. Watch the clip to hear just how hyped up the crowd was.

I sat up, fists pumping and screaming with the crowd as one team’s plays cancelled out the other team’s lead. Even though the in-game AI predicted a 97 percent win probability for NIP, things quickly turned around and EG took the lead.

Soon we were set for a third game. A toilet break and dinner beckoned, but no one wanted to give up their seats to the touch-and-go match. And go it went. NIP made yet another play, resetting the game. The crowd screamed as the tables were turned.

It ended in a loss for NIP in game three. The team was eliminated from the tournament but fans were satisfied, calling it the best series so far. And that was even before the grand finals were due to be played on the last day.

Malaysian player Yeik “MidOne” Nai Zheng (second from left) plays on Team Secret, which features an international lineup and is based in Europe.

Aloysius Low/CNETWith Russian team Virtus.pro beating Evil Geniuses in the semifinals, the crowd picked Team Secret by default to root for in the grand finals, as it featured star Malaysian player Yeik “MidOne” Nai Zheng. But Virtus.pro drew plenty of cheers for some amazing plays as well.

I was sitting next to a Malaysian blogger, who’d brought her husband along. She told me they had met through Dota, and that while she was rooting for Virtus.pro, her husband was cheering for Secret.

She laughed at her husband as Virtus.pro drew first blood, taking the first game. Her husband teased her as Secret took the lead, winning games two and three. With Virtus.pro winning game four in style, I jokingly told her the losing supporter had to sleep on the couch tonight — she told me he’d be sleeping there anyway.

Virtus.pro fought off Secret in style, clinching the top spot in a nail-biting match, and my newfound friend couldn’t be happier. And it’s memories like this that I found myself taking away from the event.

Russian team Virtus Pro celebrates on winning the first Dota 2 Major in this new Dota Pro Circuit season.

Aloysius Low/CNETIt was exactly the same atmosphere as you’d find at any other sporting event: Some crowd members glowed with delight, others were disappointed. People discussed the players’ mistakes as we streamed out of the arena. There’s been so much buzz about how esports is shaping up to be a multibillion dollar industry in the near future, but in terms of passion and excitement the future is already here, and we’re on track to watch it all unfold.

Fans of League of Legends, Overwatch and CS:GO’s competitive leagues will know exactly what I’m talking about, we’re already passionately devouring the content produced, lining up to meet players and talent, who have become stars and idols in their own right. We’ve developed our own memes and jokes, laughed or cried when our teams won or lost.

There’s no need to wait until esports becomes an official Olympic sport, or for the rest of the world to realise what it’s missing out on. Sure, games could be made more accessible — Dota 2 is complicated and somewhat hard to pick up — but I’d argue the same thing about cricket or football’s offside rule.

So take the plunge, head to one of the big events coming up in your area, and discover a whole new world.

Victory means $350,000 for the winning team, and an almost secure spot for the $25 million International next year.

Aloysius Low/CNETSource: https://www.cnet.com/news/dota-2-kuala-lumpur-major-virtus-pro-team-secret-evil-geniuses-nip/

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With investors knocking, #PlayVS opens the door to a $30M Series B #Esports $GMBL $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 11:22 AM on Tuesday, November 20th, 2018

  • PlayVS, the company bringing esports infrastructure to high schools across the country, has today announced the close of a $30.5 million Series B financing.
  • The round was led by Elysian Park Ventures, the investment arm of the L.A. Dodgers, with participation from five existing investors including New Enterprise Associates, Science Inc., Crosscut Ventures, Coatue Management and WndrCo.

Jordan Crook

PlayVS, the company bringing esports infrastructure to high schools across the country, has today announced the close of a $30.5 million Series B financing. The round was led by Elysian Park Ventures, the investment arm of the L.A. Dodgers, with participation from five existing investors including New Enterprise Associates, Science Inc., Crosscut Ventures, Coatue Management and WndrCo.

New investors also joined in on the round, including Adidas (the company’s first esports investment), Samsung NEXT, Plexo Capital, as well as angel investors such as Sean “Diddy” Combs, David Drummond, DST Global partner Rahul Mehta, Michael Dubin and others.

It’s certainly worth noting that PlayVS raised a $15 million Series A just six short months ago. Founder and CEO Delane Parnell explained that this Series B was an opportunistic raise, as the company received a lot of inbound from investors to get a slice of the next round.

“This gives us much more stability and runway so that we can hire more senior employees and leadership,” said Parnell. “It also gives us a bit of a war chest to let the team go out and work their strategies.”

Alongside the raise, PlayVS also announced new game partnerships, bringing Rocket League and SMITE into the company’s portfolio. Rocket League and SMITE join League of Legends, which was added to the platform two months ago.

PlayVS launched early this year with a relatively novel approach to the esports world. Instead of focusing on the current esports space, PlayVS realized that there was a huge opportunity to bring infrastructure to the esports landscape in high school. As more and more esports careers are created through investment by colleges (via scholarships) and esports orgs, PlayVS gives students a place to show off their skills and get in front of recruiters.

The first step in the process was establishing a partnership between PlayVS and the NHFS, which is essentially the NCAA of high school sports. Through that partnership, PlayVS handles team schedules, district league schedules, coaching clinics, referees, and sets up an in-person live spectator event for the State Championship at the end of the year.

Right now, the company is in the midst of its Season Zero, testing out the platform with a small number of states — Connecticut, Georgia, Kentucky, Massachusetts, and Rhode Island — in preparation for the official Inaugural Season, which will begin in 2019. Today, PlayVS is adding Alabama (AHSAA), Mississippi (MISSHSAA), and parts of Texas (TCSAAL) to the program.

But the growth of the company is largely dependent on states and school districts, which is why PlayVS is announcing the launch of Club Leagues. Club Leagues is identical to the PlayVS sports league product, except there is no State Championship at the end. Still, students who do not yet have access to the official PlayVS sports league can create teams, join up, and play matches.

Eventually, Parnell says, the company will phase out Club Leagues as soon as official sport leagues are available to those players.

Source: https://techcrunch.com/2018/11/20/with-investors-knocking-playvs-opens-the-door-to-a-30m-series-b/

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#HyperX and Allied #Esports Announce HyperX Esports Arena Las Vegas $GMBL $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 1:58 PM on Friday, November 16th, 2018
  • HyperX, the gaming division of Kingston Technology Company, Inc. and Allied Esports, a global esports entertainment company, today announced an exclusive naming rights partnership and multiyear agreement
  • Under which Allied Esports’ global flagship property, located at the Luxor Hotel & Casino, was newly named the HyperX Esports Arena Las Vegas
  • The first dedicated esports venue on the Las Vegas Strip.

FOUNTAIN VALLEY, Calif. — HyperX, the gaming division of Kingston Technology Company, Inc. and Allied Esports, a global esports entertainment company, today announced an exclusive naming rights partnership and multiyear agreement under which Allied Esports’ global flagship property, located at the Luxor Hotel & Casino, was newly named the HyperX Esports Arena Las Vegas, the first dedicated esports venue on the Las Vegas Strip.

HyperX and Allied Esports announce HyperX Esports Arena Las Vegas, naming rights partnership the first for a dedicated multipurpose esports arena in North America @hyperx

“HyperX and Allied Esports share a strategy centered on a ‘We’re All Gamers’ mindset, and with this first-of-its-kind partnership we can accelerate opportunities to engage fans and create influential content,” said Simon Temperley, Allied Esports Chief Revenue and Marketing Officer. “This dynamic relationship is a direct result of Allied customers’ excitement to use the best gaming equipment on the market and HyperX’s belief in our vision for content creation.”

The partnership is comprised of co-branded experiences and events, including unique opportunities with HyperX’s personalities, esports athletes and influencers; co-branded content and collateral in-venue, online and on social platforms; marketing, promotion and product activations; and a prominent retail presence in Las Vegas. The HyperX Esports Arena Las Vegas branding will be integrated across all social media platforms starting today.

“HyperX’s commitment and dedication to all things esports has helped to propel the brand to become a favorite for professional and casual gamers. Attaining the naming rights for HyperX Esports Arena Las Vegas allows us a great opportunity to grow our audience,” said Daniel Kelley, director of marketing, HyperX. “Allied Esports is a respected esports partner for us and we look forward to announcing more successes with them.”

The new deal expands on an already robust partnership between Allied Esports and HyperX. Earlier this year, HyperX became the Official Peripheral and Arena Partner of the Las Vegas arena, equipping gamers with HyperX headsets, keyboards, mice and mouse pads for esports tournaments, special events and daily play.

HyperX was also an Official Partner of Allied Esports’ North American mobile esports truck this summer with stops at various events, including the 2018 Electronic Entertainment Expo (E3) in Los Angeles, VidCon 2018 in Anaheim, and Comic-Con 2018 in San Diego.

The new HyperX Esports Arena Las Vegas opened in March 2018 and has quickly become a global destination for esports fans, players and streamers, and teams. The venue has staged some of the most popular esports entertainment events and productions of the year across a variety of game genres and titles, including Ninja Vegas ’18, starring streaming sensation Tyler “Ninja” Blevins, and recently announced two more major events in December: League of Legends All-Star 2018 (Dec. 6-8) and Capcom Cup 2018 (Dec. 14-16). The arena’s nightly tournaments, including Friday Frags and Saturday Night Speedway, have become the epicenter of Las Vegas’ growing competitive video gaming scene. HyperX Esports Arena Las Vegas was recently named Venue of the Year at the 2018 Tempest Awards, a part of the Esports Business Summit.

As part of the partnership, HyperX will be sponsoring events at HyperX Esports Arena Las Vegas. From January 9-12 during CES 2019, HyperX is planning a variety of social and marketing activities that will include the newly announced HyperX Esports Arena Las Vegas. More information on the CES activations and other HyperX-sponsored events currently in the planning stages will be available closer to the event dates.

About HyperX
HyperX is the gaming division of Kingston Technology Company, Inc., the world’s largest independent memory manufacturer, with the goal of providing gamers, PC builders, and power users with high-performance components. For 15 years, the HyperX mission has been to develop gaming products for gamers – high-speed memory, solid state drives, headsets, keyboards, mice, USB flash drives, and mouse pads – to the gaming community and beyond. The award-winning HyperX brand has carved its name atop the leaderboard by consistently delivering products that deliver superior comfort, aesthetics, performance, and reliability. HyperX gear is the choice of pro gamers, tech enthusiasts, and overclockers worldwide because it meets the most stringent product specifications and is built with best-in-class components. HyperX has shipped over 60 million memory modules and 5 million gaming headsets worldwide.

Join the global #HyperXFamily at facebook.com/hyperxcommunity, and learn how HyperX products can enhance your console experience and boost performance for both you and your PC at hyperxgaming.com. Whatever your skill level, whatever genres you play, we embrace all gaming enthusiasts everywhere with our core belief — We’re All Gamers.

Website: http://www.hyperxgaming.com/
Twitter: https://twitter.com/HyperX
Instagram: https://www.instagram.com/hyperx/
Facebook: http://www.facebook.com/hyperxcommunity
Youtube: https://www.youtube.com/user/kingstonhyperx

About Allied Esports
Allied Esports is a premier esports entertainment company with a global network of dedicated esports properties and content production facilities. Its mission is to connect players, streamers and fans via integrated arenas and mobile esports trucks around the world that serve as both gaming battlegrounds and every day content generation hubs. Allied Esports is a subsidiary of Ourgame International (SEHK:899), owner of WPT Enterprises, Inc., the operator of The World Poker Tour.

The Allied Esports Property Network currently spans ten properties in the top three esports markets across the globe: North America’s HyperX Esports Arena Las Vegas, Esports Arena Orange County, Esports Arena Oakland and Esports Truck “Big Meta”; Europe’s ELC Gaming, Esports Truck “Big Betty” and Esports Studio in Hamburg, Germany; and China’s Lianmeng Dianjing in Beijing, Lianmeng Dianjing SEG Arena in Shenzhen, Lianmeng Dianjing Tianjin Arena and Lianmeng Dianjing Gui’an Arena.

For more information, visit AlliedEsports.gg and follow @AlliedEsports on social media.

Editor’s Note: For additional information or executive interviews, please contact Mark Tekunoff, Kingston Technology Company, Inc. 17600 Newhope Street, Fountain Valley, CA USA 92708, 714-438-2791(Voice). Press images can be found in Kingston’s press room here.

Kingston, the Kingston logo, HyperX and the HyperX logo are registered trademarks or trademarks of Kingston Technology Corporation in the U.S. and/or other countries. All registered trademarks and trademarks are property of their respective owners.

Source: https://business.financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/hyperx-and-allied-esports-announce-hyperx-esports-arena-las-vegas

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#Esports And Casual Games Race To The #Blockchain $GMBL $ATVI $TTWO $GAME $EPY.ca $TCEHF $Game.ca $EPY.ca

Posted by AGORACOM-JC at 11:43 AM on Thursday, November 15th, 2018

  • We’re by no means oracles at Crypto Briefing, but the future usage of cryptocurrency and blockchain in the video game industry looks as inevitable as the marriage of internet and gaming
  • It wasn’t that long ago that most video games were played offline, with online modes only sometimes being haphazardly added on.
  • These days, online gaming rules the roost.
  • Even more specifically, mobile gaming is predicted by Newzoo’s 2018 Global Games Market Report to account for over half of all gaming revenue.

By Brian Penny

We’re by no means oracles at Crypto Briefing, but the future usage of cryptocurrency and blockchain in the video game industry looks as inevitable as the marriage of internet and gaming.

It wasn’t that long ago that most video games were played offline, with online modes only sometimes being haphazardly added on. These days, online gaming rules the roost. Even more specifically, mobile gaming is predicted by Newzoo’s 2018 Global Games Market Report to account for over half of all gaming revenue.

Meanwhile, Newzoo’s 2018 Global eSports Market Report predicts approximately $900 million in revenues generated by eSports. The viewership for professional gaming is around 380 million people watching over 46 billion minutes of Twitch streams every month alone.

But will it be the blockchain or cryptocurrency that’s accepted by the video game industry first, and will it be casual games or esports that powers it?

The answer lies in the business model powering the gaming industry’s revenue.

Crypto Meets Esports

Cryptocurrencies are already making headway into Esports. The United Masters League has announced its backing for the first professional gaming tournament with a crypto pot. Sponsored by Unikrn, a global gambling and Esports brand backed by Mark Cuban, players in the ChallengeMe tournament will vie for prizes totalling $290,000, to be paid out in the company’s native cryptocurrency, Unikrn Gold.

The ChallengeMe tournament will last three months, and be fought between fourteen European teams in matches of Counterstrike:Global Offensive, Unikrn revealed in a press release.

With over 400 hours of gameplay and broadcasts in eight languages, the tournament indicates a serious shift towards virtual currencies and assets within the space of online gaming. Nor is it a one-off event; Unikrn had already begun a long-term pivot towards digital assets when it attained licensing for cryptocurrency as well as fiat betting last month.

Mobile Games Made Developers Depend on Microtransactions

While “hardcore” gamers ignored mobile gaming in its early days, revenues by mobile developers like Rovio, Supercell, and King made legacy console and PC developers take notice. It wasn’t long before Electronic Arts, Square Enix, and longtime holdout Nintendo were developing mobile games.

These mobile upstarts proved a freemium business model that was unheard of outside of South Korea’s online gaming market. Games and apps on mobile devices are developed and released in sprints, using an Agile development method. This allows them to be released to the consumer market and start generating revenue earlier in the development cycle.

Mobile games are often given away for free.

Over 80 percent of games today are free-to-play with in-app purchases, called microtransactions. When executed correctly these freemium models are very profitable – Candy Crush Saga and Clash of Clans (the two highest-grossing mobile games of all time) are pulling in approximately $1 million a day.

Anyone who’s played a video game on either mobile, PC, or console (which I have to assume from the statistics is everyone) knows the familiar format of earning gems or coins to purchase items within a game. Using those currencies to make real-world purchases would be a big deal to gamers everywhere.

This is what gaming platforms like GameCredits and LootForge are trying to do, but developers and publishers like Blizzard want to keep it in their own ecosystem with proprietary digital currencies like WoW Token.

It’s unlikely anyone will ever make any real money playing video games any time soon, aside from the professionals. But there’s still hope for video games and blockchain.

Blockchain Can Bring Games to the Next Level

The blockchain is about more than just cryptocurrencies. It also provides an immutable digital ledger that can be decentralized or distributed. Using blockchain technology, tracking video game scores, stats, and assets in everything from first-person shooters like “Call of Duty” and “Fortnite” to MMOs like “Minecraft” and “Fallout 76” can be done across all platforms, whether mobile, PC, or console.

This can be a big win for developers, who often have to deal with the servers of Microsoft, Sony, and Nintendo’s consoles, along with Valve’s Steam PC marketplace and Google and Apple’s mobile markets.

Cross-play isn’t made easier when the platform owners resist. Sony made waves in 2018 for hesitating to allow its PS4 players to play with gamers on other consoles. It finally succumbed to the bad press and released a press announcement in September, revealing that it’s considering cross-play on more of its games.

And tracking on the digital ledger isn’t all – thanks to Ethereum’s ERC-721 non-fungible token standard and the ERC-1155 reference implementation, digital collectibles can be created, tracked, and traded on the blockchain.

Games like “Fortnite” and “World of Warcraft” have a variety of items of varying rarity and value.

Roll chances on bosses determine drop rates of items, and this can all be calculated via blockchain for a much more enhanced loot distribution system. It’s not just currency – clothing, weapons, and other collectible items can be found in games.

Online black markets for resources in some games have existed as long as the games themselves. Platforms like Wax and OpenSea are already looking into these systems, and Decentraland built a blockchain specifically for VR using the concept of nonfungible tokenized smart contracts.

But let’s not forget the distribution system of the games themselves. Piracy is responsible for an estimated $8.1 billion in annual losses to the video game industry. Most games these days are sold through digital keys, and thefts of those keys have ravaged everyone from Valve’s Steam marketplace (a 2016 hack resulted in the loss of 33 million game codes) to developers like Gun Media (limited edition Friday the 13th Kickstarter codes were stolen in February 2018).

And anyone buying a game on the secondary market often loses out on most of the valuable online functionality.

Blockchain-based tracking of these codes can help combat piracy. In fact, the public/private key transaction system used in blockchain can secure game codes better, while the digital ledger helps trace who uses them.

Whether blockchain or cryptocurrency penetrates gaming first isn’t clear, but both technologies are poised gain acceptance from gamers before anyone else. Miners and gamers are forever conjoined in the battle for graphics cards with powerful GPUs, and it’s time everyone starts working together.

Source: https://cryptobriefing.com/esports-games-race-blockchain/

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