FANDOM SPORTS Media Corporation to Explore Esports Fantasy Gaming
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2020) - FANDOM SPORTS Media Corp. (CSE: FDM) (OTC: FDMSF) (FSE: TQ43) ("FANDOM SPORTS" or the "Company"), is pleased to announce that it will be focussing its efforts on esports and fantasy gaming. The existing Fandom Esports Platform is well-positioned to leverage this massive market potential.
Esports is competitive video gaming growing at a massive pace with global esports revenues expected to surpass USD one billion in 2020 and have an audience of close to 500 million people by 2020 (source: Newzoo Global Esports Market Report 2020). If esports maintains its current growth rate, total annual revenues could total USD$2.3 billion by 2022 - far surpassing that of traditional sports like Formula One and UEFA Champions League (source: Forbes - "Global Esports Revenue Reaches More Than $1 Billion As Audience Figures Exceed 433 Million", December 3, 2019). Like traditional sports, esports is developing a betting component with worldwide estimated revenues nearing USD$13 billion in 2020 (source: research firm Eilers & Krejcik Gaming).
Ian McGregor, CMO at Green Man Gaming, said: "Esports is a spectator phenomenon that has arrived with a bang. Many mainstream media have started paying more attention to the topic but this is old news for the gaming community. The industry has been attracting players, teams and fans at a fast pace, filling up large stadiums to capacity and driving ever-increasing online viewership numbers. It's now a serious global rival to major sporting franchises. It's clear that esports has captured the imagination of its ever-increasing audience."
"Canceled events impact a certain aspect of the fan experience, but unlike traditional sports where the live event is a financial and economic driver of the overall experience, esports is different in that, from a broadcast perspective, so much of broadcast is focused on online and not as dependent on the live audience," said Kent Wakeford, Co-founder of Gen.G, an esports organization, and a member of the board of directors for FLASHPOINT, a new league for the game Counter-Strike: Global Offensive. "For the League of Legends World Championship at the Bird's Nest in China there were 40,000 people, but 100 million people were watching it online. And [those] 100 million people that are fueling the growth of the esports ecosystem to a much greater degree than the actual events."
The Company's core platform is the Fandom Esports Platform with Blaze Blockchain protocol which can function as, among other things, the payment structure for micro transaction-based revenue opportunities for FANDOM SPORTS. Blaze means faster transactions, cheaper service deployment and better end-user experience. The Company's platform can process 50,000 blockchain transactions per second for its players and is a natural fit for esports as the platform suits ideally to fast, low-valued micropayment transactions.
The Company will explore methods to monetize global esports debates as well as potential fantasy gaming and esports betting with a partnership-based business model. Company's intention to add critical advisors around the Esports fantasy and associated betting segments which will provide guidance and direction in the buildout of a unique fan offering that blends Esports debate socialization with fantasy Esports gaming.
Henri Holm, CEO FANDOM SPORTS, comments, "Fantasy Esports is one of the fastest-growing fantasy game categories, and our technology is ideally suited to support a high-volume micro-transaction gaming model. The Company's technology partner Deqode has several years of fantasy gaming experience and skillset to understand end users' and figuring out how to make a fantasy sports app successful and engaging. With DraftKings going public at a Unicorn-valuation, it only makes sense for us to assess high-value opportunities. As it is, we believe our current technology architecture is well suited to esports, and we are making strategic decisions to optimize shareholder value."
About FANDOM SPORTS:
"PLAY. PREDICT. GET REWARDED."
FANDOM SPORTS Media is an entertainment company that aggregates, curates and produces unique fan-focused content.
Fandom Esports Platform is all about micro-payments with Blaze blockchain technology that offers unbeatable speed and high industry adaptability. Because of its unparalleled speed and industry-defining structure. Using Blaze as a payment structure for Fandom Esports Platform will open up new micro transaction-based revenue opportunities for FANDOM SPORTS.
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The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company's control. Some of these risks and uncertainties may be described in the Company's corporate filings (posted at www.sedar.com).
The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events. This press release contains forward-looking statements about FANDOM SPORTS. Forward-looking statements may be identified by the use of words like "believe," "expect," "anticipate," "estimate," "plan," "consider," "project," and similar references to the future. Forward-looking statements reflect FANDOM SPORTS' good-faith evaluation of information available at the time the forward-looking statements were made. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to FANDOM SPORTS' annual and quarterly reports filed on SEDAR for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.
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