GEMS has announced that it has secured a $50 million Investment Commitment from GEM Digital Limited (GEM Group), a digital asset investment firm based in The Bahamas. GEM Group actively sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally.

The new capital will be used to further enhance GEMS products and expand the ecosystem globally, with a primary focus in Asia.

GEMS, the Esports 3.0 Platform, currently has more than 80 blockchain and Esports companies as partners, most of which are pioneer, top-tier investors or world class leaders in the industry. As its expansion plan is inclusive and aggressive, GEMS welcomes new GameFi partners to join in.

“GEMS is a promising Esports 3.0 GameFi Platform with a unique O2O (online-to-offline) system. It propels Esports into 3.0 by integrating GameFi, Metaverse and SocialFi elements,” a spokesperson for the GEM Group said.

“We are about to experience fundamental change in how we perceive the blockchain and Esports world. We definitely see great potential in GEMS Esports 3.0 platform and would like to give our ultimate support to GEMS.”

“We are honored to sign the $50 million Investment Commitment agreement with the GEM. This agreement with GEM notably positions us for our next stage of development as we continuously innovate and evolve our products. GEM’s capital commitment provides strong support to future development and expansion of our platform, especially in Asia. Part of the capital will be used to fund user acquisition,” Andy Koh, CEO of GEMS, said.

“The $50 million funding commitment from GEM will foster the growth of GEMS, as well as its partners. With LABS Group and Arena Esports Hotel as our founding partners, our next step is to wisely deploy these capitals to nurture our O2O ecosystem, as well as explore new and exciting opportunities for GEMS,” Yuen Wong, co-founder of GEMS and CEO of LABS Group, said.

Partnership will focus on establishing a national esports industry framework  

Esports entertainment company BLAST and Dansk Industri (DI) will team up to support the long-term development of esports and establish a unified voice for the industry in Denmark.

BLAST and DI will work together to help shape and support a framework to develop and further cement Denmark’s status as a leader in esports, an industry that is now valued at over a billion dollars and is on course to have a global esports viewership of 577 million by 2024.

Denmark has an illustrious history in esports, and has grown to become one of the most dominant esports nations in the world. The country is a world-leader in Counter-Strike and is the birthplace of a number of the game’s biggest talents.

The country’s esports success and strong fan following has created a fast-growing industry that is opening up career and business opportunities, to underpin this growth the sector is in need of a ratified and unified esports strategy to help realise Denmark’s true market potential.

DI is Denmark’s largest, most representative and most influential business and employers’ organisation, covering manufacturing as well as service industries across sectors such as transport, energy, IT, health, trade and professional services.

Frederikke Emily Wacker, Head of Relations at BLAST, said: “Denmark has grown to become a market-leader in esports over the last few years thanks to first-class teams, players and tournaments, along with a hugely passionate fanbase. We still see plenty of room for growth and are targeting a higher ceiling for long-term success, this development requires an esports framework and mainstream voice to help support and accelerate the industry. Working with Dansk Industri will allow us to collaborate on creating a common goal and structure to help establish a sustainable top-to-bottom vision to further cement Denmark’s position as a global leader in the space.”

Maria Krüger Torp, Head of DI Tourism and Attractions, said: It is an absolute pleasure to be a part of BLAST’s impressive journey, step-by-step intensifying the way that esport presents itself live. Denmark has achieved a unique position within esports, built with an incredible effort by enthusiasts and entrepreneurs. Now it is time to take it to the next level with unconditional support from the business community and the political decision-makers. The potential is massive.”

BLAST is an esports entertainment company that creates live and digital experiences in a number of games including Counter-Strike and Fortnite. The Danish-based company is tasked with producing the competitive Fortnite esports scene for 2022, along with operating the year-long global Counter-Strike tournament series BLAST Premier, where the best teams and biggest stars compete for ultimate glory and a multi-million-dollar prize pool.