Blockchain & AI
VSPN RAISES $100M IN TENCENT-LED SERIES B FUNDING ROUND
eSports
VSPN RAISES $100M IN TENCENT-LED SERIES B FUNDING ROUND
Image credit: VSPN
Versus Programming Network (VSPN) has secured almost $100M USD in its latest Series B funding round.
The total esports solutions provider says the funding round was led by Chinese conglomerate Tencent Holdings, and also saw participation from Tiantu Capital, SIG (Susquehanna International Group), and Kuaishou, while Lighthouse Capital served as exclusive Financial Advisor.
Founded in 2016, Shanghai-based VSPN creates content and organises esports tournaments, in addition to operating a commercial division and offline venues. Illustrating the scope of its business, the company says it has partnered with more than 70% of Chinese esports tournaments, and now has over 1,000 employees.
The company says it will use the new capital to continue to develop its esports products, and create new and innovative experiences.
Commenting on the news General Manager of Tencent Esports, Mars Hou, said:
“VSPN’s long-term company vision and leading position in esports production is vital for Tencent to optimise the layout of the esports industry’s development.”
While CEO of VSPN, Dino Ying, added:
“Thanks to policies supporting Shanghai as the global centre for esports, and with Beijing, Chengdu, and Xi’an expressing confidence in the development of esports, VSPN has grown rapidly in recent years.
“After this funding round, we look forward to building an esports research institute, an esports culture park, and further expanding globally. VSPN has a long-term vision and is dedicated to the sustainable development of the global esports ecosystem.”
VSPN’s 2016 Series A funding round was led by Focus Media Network, and also saw participation from China Jiansheng Sports Industry Fund, Guangdian Capital, and Averest Capital.
AYO.NEWS says:
It’s hard to describe this as anything other than very impressive for VSPN, and once again shows the level of confidence giant businesses like Tencent have in esports as an industry right now. Obviously, not everyone is a fan of Tencent these days (especially US politicians), but its extensive network of video gaming and esports properties and massive reservoir of talent is undoubtedly going to help VSPN scale quicker.
Despite the ongoing, and in many places worsening, COVID-19 pandemic, the esports and wider video gaming industry is still attracting incredible investment. Just last week VENN, the Video Game Entertainment and News Network, announced it had secured $26M in a Series A round, new independent game development studio, Frost Giant Studios, raised $4.7M in a Seed round, and EVOS Esports’ parent company raised $12M in a Series B round.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
With several years experience in the igaming and sports betting industries in Malta under his belt, over the last few years Oliver has developed a passion for blockchain and an interest in esports. He’s also a published novelist and has a background in art and photography.

The Global Esports Federation has confirmed the inaugural Global Esports Games (GEG), has been scheduled for December 2021.
Set to be an annual flagship event, the GEG will feature multiple esports competitions, “world-class” opening and closing ceremonies, the GEFcon thought-leadership convention, and GEFestival celebration of inclusive esports culture, highlighting music, art, technology, fashion, food, and more.
Regarding plans, President of the Global Esports Federation, Chris Chan, said:
“The Global Esports Games serves as a platform to showcase the world’s best athletes, players, industry partners, brands, innovations and the responsible use of technology in esports.
“In parallel, the GEF will stage GEFcon – a multi-platform conferencing showcase for dialogue on responsible gaming, technological advancement and shared learning – bringing people together for the celebration of esports.”
While Co-Chair, Coordination Commission, Global Esports Federation, Angela Ruggiero, added:
“I look forward to ensuring that esports athletes have the optimal conditions to shine. I am particularly interested in the vast potential and diverse opportunities esports can offer the world.
“I believe esports is delivering in new ways, leveraging on technology that can appeal to younger audiences and fans across the world. The Global Esports Games will be an exciting new frontier for the convergence of esports and traditional sports.”
The GEF claims to have received an “unprecedented response” to its global call for expressions of interest to host the Global Esports Games (though, considering its the first such call, this is hardly surprising).
In an official statement, the GEF said it was “positioned to reset the bar and offer a new level for athletes and players and the entire esports community,” and claims the GEF will be “elevating the credibility, legitimacy and prestige of esports.”
AYO.NEWS says:
Blah blah blah. The only thing unprecedented about the GEF is the amount of waffle it spews out. If it wants to be taken seriously it should cut its ties with the Saudi royal family before it preaches about diversity and inclusion. And, guess what? The esports and video game community likely couldn’t care less about your Olympic-style obsession with pretentious committees and ceremonies.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
FirstBlood Technologies has announced a partnership with MakerDAO to bring decentralised stablecoin integration to the FirstBlood Platform.
MakerDAO, the protocol behind the popular DeFi stablecoin Dai, will enhance accessibility for enthusiasts and professional gamers alike, by offering rewards in DAI to competitive gamers playing on FirstBlood.
According to the company, this “signals an immense victory for gamers,” allowing for permissionless cross-border payments to be made in what is one of the most popular DeFi crypto tokens.
Discussing the news Co-founder and CEO of FirstBlood, Joe Zhou, said:
“We aim to leverage the massive DAI community and facilitate blockchain adoption into the world of competitive gaming. With players competing from every continent, payments in cryptocurrencies will simplify barriers to entry for users, and provide a stable and secure environment for players to earn rewards for rising to the challenge.”
While CEO of Maker Foundation and co-founder of MakerDAO, Rune Christensen, added:
“The borderless, decentralized nature of Dai makes it the perfect stablecoin to use as in-game rewards for FirstBlood players. The stability, transparency and ease of use of Dai will let players spend more time focused on competing and less time sorting out how to manage their rewards.”
To celebrate the partnership, MakerDAO is offering 10,000 DAI in prizes to sign-up and compete on FirstBlood.
AYO.NEWS says:
As anyone who’s familiar with this site will guess, we love it when esports and blockchain come together nicely like this! For gamers already using FirstBlood this will make things more convenient, and hopefully it will net the platform a fair few new sign-ups too.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
Image credit: Riot Games
Riot Games has agreed a major esports sponsorship deal with Brazilian telecoms company Oi.
The agreement will see Oi sponsor the country’s First Strike Valorant tournament, the League of Legends (LoL) World Championship 2020 finals, and the Prêmio CBLoL – ceremony honoring the top players in the Brazilian Championship of League of Legends (CBLoL). Oil will also support the All Stars exhibition tournament.
Oi is an active supporter of esports in Brazil, and recently renewed its sponsorship of the Prêmio Esports Brasil 2020, a local awards ceremony, for the third straight year.
Staying with Brazilian esports, earlier today we reported that Brazilian football star Casemiro, who plays for Spanish club Real Madrid, has launched his own esports organisation called CaseEsports, signing a complete Brazilian CS:GO team.
AYO.NEWS says:
While it’s hardly a groundbreaking partnership, it’s great to see Riot has secured support for its first official Valorant tournament in Brazil,
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
Real Madrid and Brazil football star Casemiro has become the latest pro athlete to launch their own esports organisation.
Casemiro’s new organisation, CaseEsports, has already signed a full Brazilian CS:GO team consisting of Paulo “land1n” Felipe, Denis “dzt” Fisher, Felipe Delboni, Yan “yepz” Pedretti, and Vinicius “n1ssim” Pereira.
The players are relocating to Madrid, Spain, where CaseEsports has an office and gaming house, and the team is set to compete in the DreamHack Open qualifiers in December.
Discussing the his new venture, HLTV quoted Casemiro as saying:
“This team was created out of a hobby of mine that I really enjoy. I wanted to take it to a professional level, and just like in my career, I want them to be the best. I know that creating a new team and winning titles will take time and require a lot of work, but I hope that the players and the fans will really enjoy this project.”
CaseEsports hasn’t wasted any time securing commercial sponsorships either, already having deals with peripherals brand HyperX, apparel brand BŮH, gaming chair maker Drift and Spanish eyewear brand Hawkers.
Hoy ya somos más grandes, hoy nace @CaseEsports mi propio equipo de CSGO formado por @yanyepz, @dztfps, @delbonifps, @land1ncs y @n1ssimV. #WelcomeCaseEsports pic.twitter.com/JgMFNGGzD7
— Casemiro (@Casemiro) October 29, 2020
AYO.NEWS says:
The fact that CaseEsports has launched with a CS:GO team, rather than something more predictable given its founder’s background, like FIFA, is notable, and suggests a real seriousness – as does the already impressive list of commercial partnerships.
Recently we’ve seen several pro athletes jump into the world of esports, either as organisation founders or investors. Just yesterday we reported that NBA Champion and LA Lakers Player, Dion Waiters, had invested in Florida-based Centric Gaming, while earlier this month Pittsburgh Steelers player, JuJu Smith-Schuster, launched a new organisation called Team Diverge.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
Image credit: Learfield IMG College & Electronic Arts
Learfield IMG College and Electronic Arts (EA) have announced Level Next – the largest-ever collegiate esports league.
The intercollegiate athletics media and technology services company has teamed up with the video game giant to launch the new multi-year, multi-season league, which will feature at least one of EA’s esports franchise titles per season, along with titles from other publishers.
Involving over 2,500 campuses, Level Next will kick off on 9 November with the Fall Champions Series, featuring EA SPORTS Madden NFL 21. The eight-week competition will consist of a regular season, playoffs, and a championship, and will boast a prize pool of $150K USD.
Discussing the initiative Learfield IMG College President & CEO, Cole Gahagan, said:
“The creation of Level Next is an unprecedented opportunity for all of our partners within the collegiate ecosystem – from brands who wish to target this unique and fast-growing audience, to universities who aim to tap into significant engagement being generated in and around esports.
“Given their unmatched track record of innovation and game marketing, Electronic Arts is the absolute perfect partner to join us in this historic launch, tapping into 1.5 million students, and delivering an entirely new experience to over 185 million nationwide college sports fans.”
While SVP and GM of EA Competitive Gaming Entertainment, Todd Sitrin, added:
“Level Next brings esports into focus for students and universities across the country in a unique way which capitalizes on the excitement and camaraderie of college competition.
“By leveraging EA’s decades of experience at the intersection of traditional sports and esports, and Learfield IMG College’s unprecedented scale and position as the official rights holder for over 200 universities and conferences, this collaboration will establish a much-needed structure within the collegiate esports ecosystem and help to accelerate Madden NFL competitive gaming popularity.”
A social marketing competition will also give camps esports programs the chance to win a share of over $30K.
The Level Next Fall Champions Series will be broadcast on Twitch and the official website, and more outlets are expected to be announced later.
AYO.NEWS says:
The development of a thriving collegiate esports scene is crucial to the long term success of esports, and is becoming a major commercial space in its own right. So, it’s great to see Learfield and EA work together to provide this coherent, large-scale brand framework to what is still a relatively splintered area of esports.
It’s not just in the US that collegiate esports is getting serious. Over the past month we’ve seen Riot Games, Globe Telecom, and AcadArena announce an initiative in the Philippines, Riot reveal Valorant collegiate plans across Southeast Asia, and FACEIT partner with Gaming in Turkey to launch a collegiate CS:GO league.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
NBA Champion and Los Angeles Lakers player, Dion Waiters has invested in Centric Gaming.
The Miami-based esports and lifestyle brand, which recently signed four Fortnite players for its re-entry into esports, says it is looking to focus on Waiter’s hometown of Philadelphia, and give back to the community there.
Talking to Esports Insider, Waiters said he “esports had always been a healthy escape” for him, and that he can see himself being involved in the scene for a long time, bringing “that Champ Cheese Swag to esports.”
Waiters is just the latest pro athlete to get involved with esports. Shaquille O’Neil and Alex Rodriguez have teamed up with NRG Esports and Magic Johnson with Team Liquid, while ReKTGlobal, parent company of Rogue and London Royal Ravens, have attracted investment from a string of big sports names including tennis prodigy Taylor Fritz, NFL player Landon Collins, and the NBA’s Rudy Gobert.
AYO.NEWS says:
It’s not just high-profile athletes keen to get a piece of the esports and video gaming pie these days, music artists are enthusiastic too. Earlier today we reported that rapper Swae Lee has become the first artist to invest in recently formed Boston-based esports organisation and lifestyle brand XSET.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
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