A Danish company just became the first eSports team to file an IPO. Astralis Group made its stock market debut at $1.33 per share yesterday.
What are eSports? Competitive, organized gaming. eSports is a $1.1 billion market.
- #Lootboxes. eSports revenues are expected to grow by roughly 26% this year.
Play games, make…millions? A 16-year-old that goes by the name of Bugha took home $3 million after winning the Fortnite World Cup at a sold out stadium.
(That’s more than the $2.07 million Tiger Woods took home for winning the Masters).
How Does It Affect My Wallet?
Astralis generates revenues through sponsorships and tournament prizes like Bugha’s loot.
Watch this. Millions of people are tuning in. The 2019 League of Legends World Championship topped out at 2.9 million viewers and Twitch.tv has more than 15 million active users per day that watch people play video games.
Backed by ESPN. “We believe eSports is ascending and in the spirit of us attracting a younger audience, esports has got to be a priority of ours.” – ESPN president Jimmy Pitaro.
- Astralis Group’s IPO will be a good gauge of investor demand for eSports stocks.
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