The competitive video gaming field continues its expansion with rising popularity and worldwide-known celebrities appear to enjoy what it has on offer. Canadian rapper Aubrey Drake Graham, also known as Drake invested a substantial amount in the eSports startup Players’ Lounge. The seed funding phase managed to amass some CA$4,028,130 which would boost the platform’s development.
Over the past years, eSports popularity is growing at breakneck speed with more and more people getting to know the opportunities for entertainment it offers. Betting is only one of the attractive features that comes with competitive video gaming and enthusiasts around the globe can enjoy. The added thrill of watching professional gamers perform stellar on stage at the live tournaments and online elevated the experience to a whole new level.
eSports Betting Platform Seeks Funding
Drake is known for his interest in betting and gambling which explains his willingness to make a move and support a company that has yet to showcase its full potential. The seed funding ended up being a success for the eSports betting platform and reached millions of dollars that would be used for the growth of the startup company.
At a later stage, the business could see Series A, B, and C funding rounds for additional support. Drake is among the investors that recognized potential and wanted to support the company. Among them are big names and brands to the likes of Zelnick Media Capital founder Strauss Zelnick, Comcast, Macro Ventures, Canaan, RRE, Courtside and co-founder of Lumi Labs, Marissa Mayer.
The platform itself makes it possible for competitive video gaming enthusiasts to get a taste of the action. It aims to focus and cater to regular people with a 9 to 5 job with amateur gaming skills. In this sense, Players’ Lounge wants to differentiate itself from other already existing eSports betting platforms including professional players.
Competitive Video Gaming Increasingly Popular
Up until this point, the startup has been able to host events in Manhattan, Brooklyn, Queens, San Francisco, and Toronto. Competitive gaming tournaments are accessible by anyone interested and have already taken place in bars across the US and Canada, an idea welcomed by bar managers willing to diversify their offerings. Now the second phase is well on its way, boosted by the investment of major names in the industry.
Online tournaments that allow live betting on the teams and their performance is going to raise the popularity of Players’ Lounge and attract even more enthusiasts. Canadians are interested in eSports and according to a recent study conducted by Mintel, some 22 percent of them compare it to traditional sports when it comes to importance. Games such as Call of Duty, CS:GO, Dota 2, Fortnite: Battle Royale, and Halo, to League of Legends, NBA 2K, Overwatch, and PUBG are preferred.
Furthermore, this year is projected to see the official launch of the first Canadian eSports stadium called The Gaming Stadium, constructed in Richmond. Myesports Ventures Ltd is currently working on the construction of the groundbreaking project that has the potential to make Canada the next eSports hub.
It should also be taken into account that ever since October 2018, Drake is the co-owner of 100 Thieves eSports organization. It managed to amass some US$25 million over the span of a year. Scooter Braun, talent manager linked to celebrities to the likes of Ariana Grande and Justin Bieber was also part of the investment.