League of Legends Championship Series (LCS) franchisees are investing millions, Riot Games earned well over a billion dollars in 2018 in revenue from the title, and yearly media rights are worth over $150 million.
Will Hershey, co-founder and CEO of Roundhill Investments told the Wall Street Journal recently:
John Yao, CEO of Team Secret, a global esports brand that represented two players in the Fortnite World Cup, and John Costas, former chairman and CEO of UBS Investment Bank and now vice chairman of Team Secret, join “Squawk Box” to discuss the rise of esports.
Nearly all established sports are going through some degree of hand-wringing over attracting younger fans as their older core ages out. The death of monoculture and explosion of entertainment options, many accessible without leaving one’s bedroom, have seen attendance drops across the board. MLB and NFL teams have fallen over themselves installing on-site daily fantasy lounges to lure second-screeners. Even the hidebound International Olympic Committee has made transparent plays for youth, most recently with the addition of skateboarding, surfing and three-on-three basketball to next year’s Summer Olympics in Tokyo.
The demographic they’re so thirsty for could be found in droves over the weekend at New York’s Billie Jean King National Tennis Center, where three days of sold-out crowds turned out for the biggest video game competition of all time – the Fortnite World Cup – where a 16-year-old from Pennsylvania named Kyle Giersdorf (aka Bugha) brought home the winner’s share of $3m with a dominant performance in Sunday’s solos competition. It was the climax of a three-day marathon that saw a staggering $30m in prize money doled out.
A walk around the sprawling grounds where the US Open will take place next month raised a pressing question: not whether esports is the future of sports entertainment, but whether there’s any possible scenario where it’s not.
Although the Herosphere project is still relatively new, the brand have already clocked up well over 250,000 customers. Since the start of the year, there have been more than 5,000 contests established on the Herosphere platform and this number is growing at a rate of nearly 45% each month.
In order to create their gaming community where customers can create their own betting contests, Heroscape have partnered up with the Austrian cryptocurrency firm, Coinfinity, to develop the platform’s HEROcoin currency. Already the HEROcoin currency can be brought in the form of crypto vouchers at well over 4,000 outlets across Austria.
In addition to this, the Heroscape platform has integrated the Dash cryptocurrency transfer system so that gamers can easily convert their funds into HEROcoin. All of which has helped customers make virtually instant transactions on the Herosphere.gg site, and this process can be enjoyed without requiring the users to give up control of their betting funds.