RightBridge portfolio company ESPL launches User Generated Tournament platform supported by an oversubscribed digital token launch, $ARENA.
RightBridge Ventures Group AB ("RightBridge") portfolio company Esports Players League (”ESPL”), announced an oversubscribed USD1.4 million digital token launch, $Arena, to be used in its new web3.0 User Generated Tournament (UGT) platform, ESPL Arena.
ESPL, the global amateur esports tournament platform provider, announced yesterday that it would launch ESPL Arena, the first true Host-to-Earn esports platform geared for Web3. ESPL Arenas platform will introduce its much-anticipated UGT solution to a global audience and offer contestants the ability to win tournament prizes in the form of digital assets.
With over 280,000 active gamers globally and a presence across 17 countries in Southeast Asia and Latin America, ESPL is a well-established Web2 and Web3 amateur esports platform. Hosting over 2,000 tournaments since 2019 and reaching over 33 million global users. ESPL will look to onboard professional and amateur players onto this Web3 esports ecosystem through blockchain technology.
Arena’s User-Generated Tournament (UGT)
The UGT platform is the technology solution powering ESPL Arena’s organisation of tournaments, employing an easy-to-use interface for players to enter, participate and submit scores for online esports events.
UGT is capable of disbursing tournament prizes in a flexible, transparent and secure manner, releasing NFTs and tokens to the winning players’ wallets automatically while intelligently flagging questionable or conflicting submissions.
Utility Token Launched on Pancake Swap
ESPL’s utility token $ARENA has been launched in collaboration with Pancake Swap, one of the largest decentralized blockchain exchanges in the world. The token will be used within the ESPL Arena platform, providing tournament organizers with a transparent and efficient way to bring gamers together for friendly competition. Organizers will be able to charge a fee for tournaments hosted with automatic prize allocation to participants upon the conclusion of competitive events, giving rise to a true Host-to-Earn system.
$Arena’s initial launch, representing 3,5% of $Arenas total token supply, was oversubscribed by 300% and raised USD 1.4 million in total fiat funds in less than 2 hours. Those proceeds will use to the development and marketing of ESPL Arena and its ecosystem of gamers, guilds and game developers.
”Congratulations to the ESPL team! This is a great milestone for ESPL and for the innovative development of the gaming and esports industry. With ESPL Arena, a big leap has been taken toward fans and gaming communities to take advantage of Host-to-Earn, as well as of a community-centric decentralized business model. This fantastic achievement opens up numerous synergies and lessons to other RightBridge portfolio companies. We are taking those lessons as a central part of our synergy puzzle execution across our portfolio companies” says Carlos Barrios, CEO RightBridge Ventures Group.
For further and detailed information:
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
E-post: carlos.barrios@rightbridge.se
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.