YDX Innovation

YDX Innovation Corp is a Canadian enterprise with interests in augmented reality and virtual reality (AR/VR) gaming experiences, experiential design, and esports. It acquired Beat Gaming (May 2020), an esports event organizer across titles such as Dota 2 Overwatch, Quake, and PUBG esports, reporting more than 40 million viewers since 2011. The company announced that it had entered a letter of intent (LOI) with regards to a business combination with Moshun Media Development Corp. (Moshun Media), a company involved in esports, gaming, and live entertainment, in March 2021. 

It also offers other esports related services through the acquisitions of Purple Mage Advisors (acquired in June 2020), which is an esports data analytics and player recruitment agency, and Render (acquired in September 2020) which is an esports production studio that provides content management services for streamers on YouTube, Twitch, Facebook, etc. 

Additionally, YDX entered a joint venture with Comic Convention Latin America (organizer of annual comic book conventions) to launch the “Spartans League” in October 2020. YDX will hold 20% equity in the Spartans League and will be in charge of production, including tournament organization, engaging with potential sponsors, creating streaming content, and live broadcast. The inaugural Spartans League event is scheduled to be held in Panama in November 2021 and is expected to be one of the largest global open registration competitions.

In January 2021, the company closed a private placement of shares with gross proceeds of around USD 550,000. Net proceeds are to be allocated for marketing, working capital, and growth in its esports division.