<div>
  <ul>
    <li>
      <p>
        Esports team organization Misfits Gaming Group (MGG) announced the launch of&nbsp; a USD 20 million creator fund called the &ldquo;Misfits Creator Fund.&rdquo; The fund, which will target creators and influencers, will provide tools, personnel, and the required infrastructure to implement new projects.&nbsp;
      </p>
    </li>
    <li>
      <p>
        Through the fund, Misfits will finance a range of new projects, including live events, conferences, merchandise, television, and streaming shows. Further, they will also provide creators with services such as HR, marketing, finance, and operational resources.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake</b>
        : The move indicates a shift in the company&rsquo;s strategy to focus on digital content creation. Its most recent funding round came in 
        <a href="https://sp-edge.com/updates/5658">
          September 2021
        </a>
        , where it also struck a partnership with broadcasting firm &lsquo;The E.W. Scripps Company&rsquo; and provided broadcasting rights to its content to be distributed through Scripps&rsquo; television channels across the US. The company also 
        <a href="https://sp-edge.com/updates/11906">
          sold
        </a>
         80% of its League of Legends European Championship (LEC) franchise slot to Spanish esports organization Team Heretics, reducing its exposure to the pure play esports space.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://esportsinsider.com/2022/11/misfits-gaming-group-launches-20m-creator-fund">
      Esports Insider
    </a>
  </p>
  <p>
    <a href="https://venturebeat.com/games/misfits-launches-20-million-dollar-creator-fund/">
      VentureBeat
    </a>
  </p>
  <p>
    <a href="https://www.tubefilter.com/2022/11/03/misfits-gaming-group-creator-fund/">
      TubeFilter
    </a>
  </p>
</div>


Esports

Misfits Gaming Group announces USD 20 million creator fund

PROMINENT_CATEGORY

<div>

 <p>OverActive Media has teamed up with Spanish car manufacturer CUPRA to become an official partner of its League of Legends teams, including MAD Lions KOI and Movistar KOI. As part of the partnership, CUPRA's logo will be displayed on the player jerseys. This deal also reinforces the relationship with SEAT, the parent company of CUPRA and a previous sponsor.</p>

</div>

OverActive Media secures sponsorship from car manufacturer CUPRA, a Volkswagen Group subsidiary

<div>

<p>The UK esports company, Fnatic, has landed a seven-figure sponsorship deal with cryptocurrency casino, Betify, for its Counter-Strike 2 team. The agreement incorporates collaborative content, event activations, and the display of Betify's logotype on team jerseys, signifying Betify's initiation into the esports field. However, Betify's platform is not yet accessible in the UK.</p>

</div>

Fnatic secures seven-figure sponsorship deal with cryptocurrency casino Betify

<div>
 
 <p>Infinite Reality revealed its purchase of Drone Racing League (DRL) for USD 250 million, a transaction projected to close in Q2 2024. DRL, known for developing the DRL SIM esports game accessible on PlayStation, Xbox, and PC, will be valued at USD 3.5 billion post-acquisition. DRL's CEO, Nicholas Horbaczewski, is set to become the global president of Infinite Reality.</p>
 
</div>

Esports team owner Infinite Reality acquires Drone Racing League for USD 250 million to expand portfolio

INCUMBENTS_PRESENT

<div>
 
 <p>MOONTON, a subsidiary of ByteDance, has launched new esports tournament support tools for Mobile Legends: Bang Bang, compatible with platforms such as Battlefy, Challonge, and Toornament. The new features comprise the MLBB Tournament Tool, facilitating the organization of compact tournaments through QR codes or distinct IDs. Additionally, there is a Major Community Tournament License Application designed for larger events, granting extra resources and specialized server access.</p>
 
</div>

MOONTON introduces esports support features for Mobile Legends: Bang Bang

<div>
 <p>Activision Blizzard, managing the Call of Duty League, is waiving all franchise entry fees and refunding collected fees previously. This will enable teams to make higher profits from in-game sales like Team and Champs bundles. Additionally, franchises hosting major events such as Majors, Opens or Champs will receive increased subsidies. </p>
</div>

Call of Duty League eliminates franchise entry fees among other structural changes

<div>
 
 <p>ESL FACEIT Group has introduced a new free competitive platform known as "ESL Featuring Fortnite." This platform offers new team-based modes like 4v4, specialized classes, strategic gameplay, along with various game modes like "Capture the Flag," "Hardpoint," and "Shrinking Zone." The platform is developed in collaboration with 404 Creative, providing an alternative to the FNCS format.</p>
 
</div>

ESL FACEIT Group launches ‘ESL Featuring Fortnite’ competitive experience

<div>
 
 <p>Blizzard Entertainment has reestablished its alliance with NetEase for re-launching its games in the Chinese market this summer after a short break. Additionally, the company is also investigating potential chances to bring new NetEase games to Xbox and other consoles through a partnership with Blizzard's parent company, Microsoft.</p>
 
</div>

Blizzard Entertainment and NetEase renew partnership to return games to China

<div>
 
 <p>Elixir Games, a Web3 gaming distribution platform based in Spain, has raised USD 14 million in a seed funding round. Square Enix, Shima Capital, and the Solana Foundation participated in this round. </p>
 <p>The company will use these fresh funds to create and launch its gaming ecosystem, which is expected to become operational by the second quarter of 2024. Part of the funds will also be used to support the introduction of its "ELIX" token.</p>
 <p>Alongside providing a Web3 gaming distribution platform, Elixir Games is also planning to launch a Launchpad &amp; Incubation Program. This program will support Web3 developers and simplify game launches within their portfolio. The company also offers a white-label solution for enterprises.</p>
 
</div>

Elixir Games raises USD 14 million in seed funding for product development

<div>
 <p>Esports organization Ninjas in Pyjamas (NIP) has formed a partnership with Chinese automotive company BYD to increase both brands' global presence. After a prior exclusive deal in China, NIP will now globally promote BYD's products and technology. The partnership entails creating fan experiences and activations, with details to be released in the future.</p>
 
</div>

Ninjas in Pyjamas and BYD form global strategic partnership to promote electric cars

<div>
 <p>The National Development Fund (NDF) of Saudi Arabia and the Social Development Bank (SDB) have revealed the creation of two venture funds worth USD 120 million. The announcement was made at the LEAP 2024 technology conference in Riyadh. The funds form part of the Gaming and Esports Financing Programme, which aims to provide funding for gaming and esports companies through equity investments. They are intended to develop a gaming accelerator and draw private investment into local gaming and esports.</p>
 
</div>

All Updates