Nations Ventures has announced a strategic investment in real-time platform and sports marketplace Obsesh. 

Though financial details have not been disclosed, the venture capital fund, which is majority-owned by We Are Nations, says the investment will help Obsesh develop products, launch its marketplace, and acquire athletes.  

Obsesh, which was co-founded by female entrepreneurs Tracy Benson (Home Depot, Best Buy and Monster) and Jonalyn Morris (Beats by Dre, Disney Interactive and Loot Crate) aims to solves a problem that many of today’s athletes, across both traditional sports and esports, face; that its very difficult to turn followers into paying customers and make a decent living.

Currently Obsesh, which is also backed by Stadia Ventures and Newchip, is focused on traditional sports, though it does have an esports section, giving fans the chance to play video games against their favourite sports personalities. 

Discussing the news, Patrick Mahoney, Nations Ventures General Partner, said: “The Obsesh team is well-positioned in the sports market and has taken a unique approach to a historically ignored group of skilled sports talent. At Nations, we look for companies with a great product, strong team, and a go-to market strategy, and we see Obsesh as having the ability to effectively accelerate across both sports and esports. 

“In addition, we saw right away the synergy with Obsesh and several of our portfolio companies including Insiders, Echelon and A8 esports. We are also already implementing We Are Nations as their scalable merch solution for both retail and custom athlete integrations.”

While Tracy Benson, CEO and Co-founder of Obsesh, added: “From the minute we met Patrick, Dan Cardell and the team at Nations, we knew there was a shared vision to not only build Obsesh as the number-one platform for sports fans, but to take the platform into esports.

“Nations without a doubt hit on the manpower, network and industry knowledge to help us scale our business and accelerate our vision to become the number-one go-to marketplace for all sports.”

AYO.NEWS says:

Though Obsesh has so far focused on helping traditional sports athletes monetise their brands, it’s easy to see how it could make a big impact in the gaming and esports worlds too – where the difficulties in turning popularity into an income are just as great. It will be interesting to see if there’s a noticeable shift in focus for Obsesh over the next year.

Las Vegas-based gambling and esports betting company GameCo has announced a new financing round, as it looks to accelerate growth. 

Financial details of the round have not been disclosed, but it is being led by gaming technology giant Playtech and Jason Ader-led SpringOwl Asset Management, and is aimed at funding the development of new gaming products designed to attract new demographics to casinos. 

Additionally, GameCo has also entered a long-term distribution agreement with Playtech, with a view to commercialising its content globally. The deal gives GameCo immediate access to Playtech’s extensive network of hundreds of online casino brands, and will allow the company to build iGaming products on the next-generation Gaming Platform as a Service (GPAS) system, while leveraging Playtech’s advanced tech and extensive distribution footprint.

During 2020, GameCo launched an esports-dedicated brand, iGameCo, and an esports wagering solution. It also teamed up with US Bookmaking and Sky Ute Casino Resort, to launch an esports-first sportsbook in Colorado. Germany-based esports data supplier GRID provides integrated data and streaming solutions for GameCo’s betting solutions. 

Last week GameCo appointed former Goldman Sachs executive Adam Rosenberg as new Chief Executive Officer, taking on the role from former CEO Blaine Graboyes. Rosenberg is already very familiar with the company, having been a board observer with GameCo since 2018.

Discussing the financing round, GameCo CEO, Adam Rosenberg, said: “GameCo was founded with the intention of attracting and monetising younger gamers and gamblers who, unlike older generations, want interactive and varied digital gambling experiences both at casinos and from the comfort of their homes. COVID-related shutdowns and the need for large portions of the global population to be remote accelerated these trends.”

Jason Ader, CEO of SpringOwl, added: “There are very few market segments which are completely global, totally consumer-facing and instantly scalable. The intersection of skill and gambling online is rapidly emerging as a massive opportunity, and GameCo is uniquely positioned as one of the most innovative players in the industry.SpringOwl is always looking to invest in the next generation of trailblazers, and we believe GameCo is exactly that for the regulated gaming industry.”

And, Playtech CEO, Mor Weizer, commented: “We have followed GameCo’s progress for some time and have been very impressed with its innovative and creative content. GameCo’s expansion into digital markets comes during a period of great industry growth and potential. Today, players at U.S. online casinos alone spend over 30 million minutes daily playing games. GameCo’s entry into the regulated iGaming market is extraordinarily well timed, and we are delighted to be supporting its growth with our investment and our platform.”

Canada-based, Toronto Stock Exchange-listed esports company Enthusiast Gaming has partnered with ByteDance’s short-form video platform TikTok. 

The agreement will see Enthusiast Gaming make its platform of video game and esports fan communities available to drive adoption of TikTok in the gaming and esports space. 

Several activations are planned, including product and logo placement, along with promotional activities featuring Luminosity Gaming influencers, and co-branded video content on the organisation’s Twitch account, social media channels, and other Enthusiast Gaming properties.

Financial details of the agreement have not been disclosed.

Discussing the partnership, Adrian Montgomery, CEO of Enthusiast Gaming, said: “We are delighted to be partnering with TikTok, a revolutionary company that is dominating mobile media, to provide them with an integrated approach to increase awareness and engagement by delivering unique and creative content to our loyal fan communities,

“Our recognition by Comscore as the largest mobile entity in the United States in the Gaming Information category validates the extensive reach we have into the elusive Gen Z and Millennial gaming market. We are excited to work together to create value for the TikTok community.”

As reported earlier today, ByteDance is acquiring Mobile Legends: Bang Bang developer Moonton in a deal thought to be valued at around $4B USD. 

Last week, Enthusiast Gaming revealed it had entered an agreement to acquire Vedatis SAS, owner of World of Warcraft guide platform Icy Veins.

AYO.NEWS says:

TikTok is already a dominant force among younger users, and its growth has been nothing short of phenomenal, but many would argue it still needs to develop a broader footing in order to secure long-term sustainability. Partnerships like this are definitely a step towards achieving that.  

Element Partners has significantly increased its offer for Allied Esports Entertainment, following Bally’s Corporation’s $100M bid. 

Allied Esports Entertainment had originally agreed a $78.3M deal ($68.3M + $10M over three years) with Element Partners in January 2021, however, earlier this month major US casino and racetrack operator Bally’s Corporation jumped in with a $100M offer. 

As previously reported, it looked like Allied was going to go with Bally’s, but now Element has come back with an improved offer worth $90.5M, and the companies have agreed a revised stock purchase agreement. Notably, the revised offer from Element increased the initial deposit from $4M to $10M, and ditched the guaranteed revenue share over three years part, instead making the full balance payable at closing. 

Though Bally’s offer was slightly larger, the Allied board of directors, after consulting financial and legal advisors, unanimously agreed to accept the revised offer from Element Partners – considering the terms more favourable. Subject to shareholder approval, the transaction is expected to close in late April 2021. 

To guard against history repeating itself, the new Element offer also comes with an increased termination fee, in addition to an extension for the termination – giving until 30 September 2021 for the companies to pull out of the deal if any of the terms of the agreement are not met. 

The Reno5 Pro 5G and Reno5 5G from Chinese brand OPPO have been announced as the designated smartphones for PUBG MOBILE Esports in the Middle East and Africa region (MEA) in 2021.

OPPO says it has tailored the latest variants of the Reno5 series, which are now available for pre-order in the UAE, for gaming with features like Gaming Shortcut Mode, Gamer Mode, Bullet Screen Messages and Adjustable Gaming Touch. 

“OPPO’s strategy is focused on engaging with our users’ passions in the UAE. In line with the huge popularity of mobile gaming in the region, we invested in bringing the ideal gaming platform to our customers through our latest Reno5 series of smartphones. Selecting the new Reno5 Series as the official smartphone partner for PUBG MOBILE Esports in the Middle East and Africa region, is a testament to the extraordinary and immersive gaming experience offered by our Reno5 Pro 5G and Reno5 5G smartphones,” Ethan Xue, President of OPPO Middle East and Africa, said.

“At PUBG MOBILE, we’re committed to bring the ultimate fun and enjoyment for passionate, adventurous trendsetters and eSport enthusiasts. Leveraging on our experience and expertise in eSports, we’re thrilled to join hands with OPPO to enhance the ever-growing mobile gaming landscape,” John Lacey, Head of Tencent MENA office, said.

Kinguin has announced a partnership with CS:GO pro Maikel “Maikelele” Bill and his new community gaming platform Plearn, which gives gamers the opportunity to join events and compete in a variety of challenges to win prizes. 

Maikelele and Kinguin have a long-standing friendship, stemming from the days Maikelele played under the Team Kinguin banner, winning Gaming Paradise 2015 and placing in the top 8 at the ESL One Cologne 2015 Major.

In addition to Team Kinguin, Maikelele has also played for teams including G2 Esports, FaZe Clan, and Ninjas in Pyjamas. 

Now Kinguin and Maikelele are joining forces in a community-driven partnership for Maikelele’s platform, Plearn, where Kinguin will be providing prizes for challenge winners and participants. Kinguin is a long-time supporter of the CS:GO scene and this partnership is a natural next step for the company to strengthen its bond with the community.

Plearn will host weekly Kinguin-branded challenges where top winners will be granted Kinguin gift cards, while a number of participants will receive exclusive Kinguin discount codes. Furthermore, CS:GO related products available at Kinguin.net will be promoted on Plearn.gg and affiliated sites in the form of affiliate links.

The first Kinguin-branded event will begin this Thursday, March 25 with Maikelele himself live streaming the challenges together with some Plearn members. The live stream will begin at 18:00 CET over at www.twitch.tv/maikelele 

Maikel “Maikelele” Bill, Plearn Founder said: “I am thrilled to be partnering with Kinguin, a company I share fond memories of, going back to my professional CS:GO career. Without the support of the community, I wouldn’t be where I am today – this is my way of giving back. Plearn is a passion project aimed at motivating players to bring their game to a whole new level while also having the chance to win great prizes. Given my history with Kinguin, and their continuous involvement and support of the CS:GO scene, they are the perfect partner for Plearn.”

Viktor Romaniuk Wanli, Kinguin Founder and CEO said: “We are beyond excited to be partnering with a great platform led by such a great player and friend. CS:GO is a much loved game and we have always cherished its community so it is important to Kinguin to play a part in bringing this project to life. We are looking forward to helping grow a platform that puts fun and players first.”

Currently focused on CS:GO, Plearn plans to expand into more PC and console games in the future, making it possible for players of all kinds to play and earn with Plearn.