The Esports Advocate
Esports business news: deals, legal, and governance.
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Raidiant Announces Star Chasers Showdown Featuring Rocket League
Raidiant, an esports broadcast operator and division of New Meta Entertainment, has partnered with developer Psyonix to launch the Star Chasers Showdown, a competitive Rocket League tournament series.
- Raidiant is partnering with Psyonix to host the Star Chasers Showdown, a $30,000 Rocket League tournament dedicated to women and marginalized genders.
- The tournament will feature up to 32 teams from North America and Europe, with qualifiers scheduled for October 14–15 and the main event for October 28–29, 2023.
- The event includes an amateur bracket with its own grand final, alongside a free agent pool designed to facilitate team building for individual participants.
ICYMI: Monumental Sports & Entertainment Scored an Investment From the Qatar Investment Authority
The Qatar Investment Authority (QIA), the sovereign wealth fund of the Qatari government, has acquired a minority stake in Monumental Sports & Entertainment (MSE).
- The Qatar Investment Authority (QIA) acquired a minority stake in Monumental Sports & Entertainment (MSE), a deal previously reported to be valued at $4 billion.
- MSE is the parent company of aXiomatic Gaming, which holds a controlling interest in the esports organization Team Liquid.
- The investment also impacts MSE’s esports operations, which include NBA 2K League teams Wizards District Gaming and Caps Gaming.
Shopify Rebellion Joins the LCS
Shopify Rebellion has officially entered the League of Legends Championship Series (LCS) following a transaction to acquire the league slot previously held by TSM.
- Shopify Rebellion has officially joined the League of Legends Championship Series (LCS) for the 2024 season.
- The organization acquired the LCS slot from TSM, which announced its departure from the North American League of Legends scene at the end of the 2023 season.
- The transaction for the LCS slot is estimated to be valued between $10 million and $15 million USD.
Republic of Senegal Supports Initiative for Nationwide Esports
The government of the Republic of Senegal has initiated a strategic effort to formalize and expand the esports landscape across the African continent.
- The Republic of Senegal is spearheading the establishment of the PanAfrican Confederation to formalize and support nationwide esports activities and competitions.
- A Constitutive General Assembly is scheduled for September 24–27, 2023, in Dakar, bringing together government-mandated delegates from 45 African countries.
- The initiative aims to prepare African youth for digital, cultural, and creative economies, positioning the continent as a leader in the global electronic games and immersive sports market.
Bunyan, ibMedia in Pact to Bring Esports and Gaming Education and Consulting Services to Saudi Arabia
Bunyan, an educational development firm based in Jeddah, Saudi Arabia, has entered into a strategic partnership with Singapore-based consulting company ibMedia.
- Jeddah-based Bunyan and Singapore-based consulting firm ibMedia have formed a joint venture to provide esports and gaming education and consulting services in Saudi Arabia.
- The partnership aims to address the growing demand for skilled talent within the Saudi gaming sector as the region experiences a surge in industry interest.
- The joint venture will focus on developing educational programs to equip local talent with industry-specific skill sets and providing specialized consulting services.
Zach Braaten Named Chief Strategy Officer of Fenworks
Fenworks, a North Dakota-based company specializing in scholastic esports and drone racing, has appointed Zach Braaten as its new Chief Strategy Officer.
- Zach Braaten has been appointed as the Chief Strategy Officer of Fenworks, a North Dakota-based company focused on scholastic esports and drone racing.
- Braaten previously spent over four years at LeagueSpot, where he held leadership positions including VP of Sales and VP of Client Success.
- Fenworks is a STEM.org accredited, for-profit organization that facilitates after-school video game and drone racing competitions for K-12 students.
Amazon Veteran Cristina Carranza Joins GGTech
GGTech Entertainment, a Spain-based organization, has appointed Cristina Carranza as its new head of global sales.
- GGTech Entertainment has appointed former Twitch and Amazon executive Cristina Carranza as its new head of global sales to lead the company's expansion into the United States.
- Carranza brings nearly a decade of experience from Amazon and Twitch, where she most recently served as an account director helping develop global programs like Amazon GAMERGY and Amazon University Esports.
- This leadership hire follows a $12.4 million investment secured by GGTech in June 2023 from Glisco Partners and Heart Beat, intended to support the company's international growth.
HBCU Esports League Season Four Launches
The HBCU Esports League, operated by Cxmmunity Media, officially launched its fourth season in September 2023.
- Cxmmunity Media launched the fourth season of the HBCU Esports League on September 17, 2023, featuring students from 15 Historically Black Colleges and Universities.
- The league is offering a total prize pool of $170,000, which will be awarded to students as educational scholarships.
- Former NFL wide receiver Chad “OchoCinco” Johnson has joined the league as an official ambassador to support its mission of diversifying the gaming industry.
Ampverse Acquires Championfy
Ampverse, a Singapore-based web3 gaming company, has acquired the technology and intellectual property assets of Championfy, a startup specializing in cloud gaming and competitive casual gaming platforms.
- Singapore-based web3 company Ampverse has acquired the technology and intellectual property assets of gaming startup Championfy.
- The acquisition is intended to bolster Ampverse Labs, the company's division focused on developing data-driven game-tech solutions for the Southeast Asian and Indian markets.
- While specific financial terms were not disclosed, Championfy characterized the deal as a multi-million dollar investment.
Team Bliss Esports Officially Acquires The Chiefs Esports Club
Team Bliss Esports has officially finalized its acquisition of The Chiefs Esports Club, marking a significant consolidation within the Australian competitive gaming landscape.
- Australian esports organization Team Bliss Esports has officially acquired and merged with The Chiefs Esports Club.
- The acquisition was finalized through a $1M AUD ($650K USD) purchase price paid to SQID Technologies Limited for ICON Esports, the parent company of The Chiefs.
- The deal includes a tiered revenue share agreement where SQID will receive 10% of ICON's EBITDA for the first two years and 8% in the third year.
One Up x NBA 2K24 Championship Series
The One Up x NBA 2K24 Championship Series represents a strategic collaboration between the on-demand esports platform One Up, 2K Games, and 20 professional NBA players.
- One Up has partnered with 2K Games and 20 NBA players to launch the 'One Up x NBA 2K24 Championship Series,' a public competitive gaming tournament featuring a $1 million total prize pool.
- The tournament begins on September 23, 2023, and concludes with an in-person championship event in Miami on February 15, 2024.
- The series includes 20 online qualifying tournaments, each hosted by an NBA player, with the top 16 finalists advancing to an online tournament on February 3-4, 2024.
National Student Esports Renews Partnership With HoYoverse
National Student Esports (NSE) has renewed its partnership with HoYoverse, the developer behind the popular open-world action RPG Genshin Impact.
- National Student Esports (NSE) has renewed its partnership with HoYoverse for the 2023/24 academic year.
- The agreement allows NSE to utilize the game Genshin Impact to host various challenges, activities, and events throughout the academic year.
- Under the partnership, NSE will provide support for third-party partners to host their own independent Genshin Impact events.