The youngest action superstar, Tiger Shroff ensured Bollywood’s foray into the Indian Esports industry with his decision to invest an undisclosed amount in Revenant Esports, one of India’s fastest-growing esports teams. The decision was announced in a joint press release on Monday.
This strategic investment comes as a huge boost to Revenant Esports who now plans to utilize the latest funding to bolster their Esports rosters, content creators, and bootcamp infrastructure as well as invigorate their ambition of cementing Revenant Esports’ name as the finest Esports organization in India and expanding its footprint globally.
“We are delighted to welcome Tiger Shroff to the Revenant Esports family. Everyone is well aware of his fondness for gaming and connects with the millennial and Gen Z audience. In Revenant he has the perfect platform to be more actively involved with the Indian gaming community. The entertainment industry starting to set foot in the world of gaming is massively beneficial to the industry as it helps spread awareness about its potential and importance among the not-so-informed Indian population. Tiger’s massive fanbase and his zeal for gaming will accelerate our vision of creating an enriching and engaging ecosystem for our organization as well as for the Esports community as a whole,” said Rohit Jagasia, CEO and Founder of Revenant Esports.
First-gen entrepreneur, Rohit initially started with a single-game roster in BGMI for Revenant Esports in 2021 which has now grown many folds with the organization presently having multiple content creators and multi-game rosters that not only compete in innumerable major Esports tournaments but also win laurels for the country.
Tiger Shroff shares a great passion for fitness, games, and MMA and is also an avid Esports enthusiast had made his passion for gaming known by engaging in various gaming activities in the past. The young superstar’s decision has initiated the coming together of the two most powerful genres in cinema and esports-a cocktail of which has all the ingredients to be the most successful brand alliances.
Speaking on what this association means to him, Tiger Shroff said, “Revenant Esports is one of the biggest names of the Esports landscape in India and I am delighted to be a part of it. They have achieved commendable success in such a short span and with the gaming and Esports revolution taking the country by storm I am confident that Rohit’s and my passion, knowledge, and vision will help us to achieve remarkable success and experience. Being an ardent gamer myself and having followed the industry closely, I also hope to use this association as a launchpad to more meaningful growth in the sector.”
Revenant Esports boasts of being home to some of the country’s best Esports talents as well as the leading content creators. The organization has proved its mettle on the regional and international stage by triumphing in multiple international tournaments such as the BGMI: Master Series(Star Sports) Valorant: Valorant Challengers League South Asia, Pokemon Unite: Asia Champions League 2023, Brawl Stars: ESL Masters Japan, Apex Legends: ALGS Split 2 playoffs, and CODM: World Championship 2021.
In recent times, they have brought on-board three of the most watched content creators in the Indian Gaming scene which are Emperor Plays, Bitty and Ayush is live and plans to add more valuable creators in the upcoming months.
Last year, their Pokemon Unite roster became the very first Indian team to represent the country at the Pokemon Unite World Championships in London.
As per the recently launched FICCI-EY report “Windows of Opportunity”, the number of Esports players across all competitive level games in India increased from 600,000 in 2021 to 1 million in 2022, and it is expected to reach 2.5 million in 2023. The number of brands investing in Esports in India grew from 72 in 2021 to 80 in 2022, and it is estimated to reach 100 in 2023.
Revenant had recently onboarded high-profile brand associations with global brands like AMD, PUMA, CORSAIR and CYBEART. This investment from a key Bollywood icon further proves how the entertainment industry can leverage the Indian Esports industry with its limitless potential.
LEC Introduces Sporting Financial Regulations
To support the long-term financial stability and competitive balance of the LEC, the league is going to introduce new financial regulations – known as Sporting Financial Regulations (SFR) – for the start of the 2024 LoL Esports Season.
The LEC SFR will encourage teams to maintain the total sum of its five highest-paid player salaries below a certain threshold, with teams exceeding the threshold having to pay an excess fee (SFR Fee).
In doing so, the LEC seeks to create a financially sustainable environment for its pro players, partnered teams, and the league itself, allowing all parties to grow at a healthy and scalable pace, and protect the ecosystem from unsustainable spending practices. In addition, the framework will support the league by creating a better competitive balance and more engaging competition, further enhancing the experience for players and fans.
“In the current economic climate, we are dedicated more than ever to creating a sustainable future for our players, teams, and the LoL Esports ecosystem in EMEA as a whole. The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come,” said Maximilian Peter Schmidt, Director of League of Legends Esports EMEA.
SFR will encourage each team to maintain the total sum of salaries (known as SFR Spend) paid to the top five highest-paid players in a team within a certain range. The range includes both an upper spending threshold (SFR Threshold) and a lower spending threshold (SFR Floor), with the lower spending threshold amounting to 50% of the SFR Threshold. Meanwhile, the SFR Threshold is calculated based on a number of considerations, including LEC player salaries, League Revenue Pool of the current and forecasted years, team financial data – such as revenue and expenses – and other market indicators. Teams that exceed the SFR Threshold will be imposed with an SFR Fee.
An exception will be made to teams if a player enters into a contract with the team either during or before the end of the 2023 LEC Season Finals. In this instance, the SFR Spend will be reduced by one-fifth of the SFR Threshold or the actual salary amount; whichever is lower.
The policy will be introduced starting from the 2024 LEC Global Contract Start Date (21 November 2023), with the first cycle running until the 2024 LEC Global Contract End Date (18 November 2024).
Abios Powers Nigerian Esports Betting Brand Oyawin with Data and Widgets
As part of Kambi Group, Abios powers Nigerian sports betting brand Oyawin with odds and statistics from the largest matches and tournaments in esports.
Oyawin, the newly launched mobile-first sportsbook, allows Nigerian esports fans to access a wide range of statistics, as well as streams and odds from top esports matches, directly on their phones.
Abios has supplied 1337Pro with data and statistics for the largest esports titles, including CS:GO, Dota 2 and League of Legends, for years. The organisation has expanded from being a media platform to include a sportsbook solution and Oyawin, a sports betting brand registered in Nigeria.
With the help of Abios’ product portfolio, Oyawin can provide a comprehensive esports solution to Nigerian bettors. It is focused on tier 1 esports titles, including CS:GO, League of Legends and VALORANT. With access to Abios’ full portfolio, Oyawin can engage their audiences with engaging content such as player props, data visualisations and embedded streams.
It also features Abios’ esoccer solution, allowing fans to engage with engaging around-the-clock content supported by widgets and streams.
Oskar Bonnevier Fröberg, CEO and Founder of Abios comments: “To support the growth of esports in Nigeria, we’re delighted to supply Oyawin with our esports odds, statistics and data visualisations. It allows Nigerian bettors to discover and get access to engaging content for the largest tournaments in esports.”
Jason Foster, Managing Director of 1337Pro Bet: “Abios data has powered 1337pro.com for years, from fixtures, statistics and results to live stream links. We have now extended this success with full odds and trading integration for Oyawin. The platform’s successful launch has given us complete confidence in Abios and our products. We look forward to delighting our sportsbook operators.”
Global Esports Federation Attends UN and Commonwealth Meetings
The Global Esports Federation (GEF) has attended the 10th Commonwealth Youth Ministers’ Meeting (#10CYMM) in London and the United Nations 78th General Assembly (#UNGA78) in New York City. The GEF actively supports the United Nations Sustainable Development Goals (#GlobalGoals) and emphasises its commitment to youth empowerment and a more connected world.
At the UN Headquarters, the GEF engaged with global youth, world leaders, and organisations showcasing its dedication to the #GlobalGoals. It underlined the opportunity and role in empowering youth and making a societal impact.
As a partner of #SDGdigital, and alongside the ITU Secretary General, Doreen Bogdan-Martin, the GEF presented the GameChangers Award, recognising youth-led organisations with innovative solutions for societal challenges.
“Sharing the messages of our community from London to New York City this week has been truly inspiring. Meeting world leaders and members of our global community, we conveyed the message that gaming and esports can be a powerful force for positive change in society, particularly for our youth. While many of us are connected, there are still 2.6 billion people who are not connected and therefore are left behind. The GEF is committed to working with partners worldwide to unlock the full potential of esports for a brighter future for all in our global community,” Paul J. Foster, CEO of the Global Esports Federation, said.
The GEF Vice President, Adrian Lismore, joined the Commonwealth Secretary-General, Rt Hon Patricia Scotland KC, at the 10th Commonwealth Youth Ministers’ Meeting in London. The Ministerial Outcome Statement included the acknowledgment of the “economic value to the member states and welcome partnership with the Global Esports Federation and other stakeholders to further develop initiatives and projects.”
The summit brought together over 400 delegates, including Ministers, Government and Senior Officials as well as young leaders, to ratify the Marlborough House Commitment, inspiring hope among Commonwealth youth.
The Commonwealth Youth Ministers acknowledged the potential of esports in driving youth engagement, innovation and economic growth, welcoming partnerships with the GEF. They also recognised the role of start-ups, including esports, in employment generation, innovation and technological advancement, pledging support for their growth.
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