RightBridge Ventures Group AB("RightBridge") portfolio company Esports PlayersLeague (”ESPL”),announced anoversubscribed USD1.4 million digital token launch, $Arena, to be used in itsnew web3.0 User Generated Tournament (UGT) platform, ESPL Arena.
ESPL, theglobal amateur esports tournament platform provider, announced yesterday thatit would launch ESPL Arena, the first true Host-to-Earn esports platform gearedfor Web3. ESPL Arenas platformwill introduce its much-anticipated UGT solution to a global audience and offercontestants the ability to win tournament prizes in the form of digital assets.
Withover 280,000 active gamers globally and a presence across 17 countries inSoutheast Asia and Latin America, ESPL is a well-established Web2 and Web3amateur esports platform. Hosting over2,000 tournaments since 2019 and reaching over 33 million global users. ESPLwill look to onboard professional and amateur players onto thisWeb3 esports ecosystem through blockchain technology.
Arena’sUser-Generated Tournament (UGT)
The UGTplatform is the technology solution powering ESPL Arena’s organisation of tournaments, employingan easy-to-use interface for players to enter, participate and submit scoresfor online esports events.
UGT iscapable of disbursing tournament prizes in a flexible, transparent and securemanner, releasing NFTs and tokens to the winning players’ wallets automaticallywhile intelligently flagging questionable or conflicting submissions.
UtilityToken Launched on Pancake Swap
ESPL’sutility token $ARENA has been launched in collaboration with PancakeSwap, one of the largest decentralized blockchain exchanges in the world. Thetoken will be used within the ESPL Arena platform, providing tournamentorganizers with a transparent and efficient way to bring gamers together forfriendly competition. Organizers will be able to charge a fee for tournamentshosted with automatic prize allocation to participants upon the conclusion ofcompetitive events, givingrise to a true Host-to-Earn system.
$Arena’s initiallaunch, representing 3,5% of $Arenas total token supply, was oversubscribed by300% and raised USD 1.4 million in total fiat funds in less than 2 hours. Thosefunds will support the development and growth of ESPL Arena and its ecosystemof gamers, guilds and game developers.
”Congratulations to the ESPLteam! This is a great milestone for ESPL and for the innovative development ofthe gaming and esports industry. With ESPL Arena, a big leap has been takentoward fans and gaming communities to take advantage of Host-to-Earn, as wellas of a community-centric decentralized business model. This fantasticachievement opens up numerous synergies and lessons to other RightBridge portfoliocompanies. We are taking those lessons as a central part of our synergy puzzle executionacross our portfolio companies” says Carlos Barrios, CEO RightBridge VenturesGroup.
For more information about the token launch and ESPL Arena:
Pancake Swap: https://pancakeswap.finance/ifo
$ARENA Lite paper: https://espl.gitbook.io/espl-arena-litepaper/
For further questions, please contact:
Carlos Barrios - CEO RightBridge Ventures Group AB
Telefon: +46 705 112579
RightBridge Ventures is a compounder and investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital media and entertainment industry. For more information visit www.rightbridge.se or get updates by following us on Twitter on Instagram and LinkedIn.
RightBridge Ventures Group AB (publ)'s shares are traded on the Nasdaq First North Growth Market and Amudova AB is a Certified Adviser.