Following rising momentum in the growth of user numbers of its flagship Mogul Arena platform, which have now reached “in excess of 300,000”, eSports media company Esports Mogul (ASX: ESH) has announced it has divested its equitable interest in German-based eSports company ChallengeMe Esports GmbH (ChallengeMe) to US-based company Unikrn Inc.
The divestment means the existing platform licence agreement it had with ChallengeMe is terminated, effective immediately.
The move allows Esports Mogul to focus on its own gaming tournaments platform, Mogul Arena, and removes the need for further resources to be allocated towards developing ChallengeMe.
The decision also means Esports Mogul will earn a net sum of around A$465,000 in proceeds: a mixture of cash and Unikrn shares which also means that the company will benefit commercially upon the future success of ChallengeMe in the US.
According to the terms of the deal, Esports Mogul will receive A$280,000 in an upfront cash payment, followed up by A$45,000 in a deferred payment with a duration of two years. The up-and-coming eSports company will also receive 71,650 shares in US-based Unikrn Inc valued at A$140,000, also deferred for two years.
“Esports Mogul is supportive of the transaction between ChallengeMe and Unikrn. Our focus since partnering with A$5.5 billion Razer Inc in August 2017 has been to build our own online eSports tournament platform – Mogul Arena. We look forward to applying the proceeds to further developing Mogul Arena features as we now look to monetise the platform,” said Gernot Abl, managing director of Esports Mogul.
More about Mogul Arena
Mogul Arena is Esports Mogul’s proprietary platform allowing gamers to compete in gaming tournaments online and share their experiences via innovative service features.
As a result of its strong game-publisher relationships, Mogul Arena is already deeply integrated with the leading global eSports titles and is the only platform that allows completely automated tournament play, able to assimilate results across multiple games.
Its “top-class technology stack” enables eSports fans to compete and organise tournaments directly from their PC’s and facilitates the growing popularity of eSports as a spectator sport.
Enthusiasts can follow live “streamers” and elite eSports results from around the globe with Mogul Arena facilitating game title APIs (application programming interfaces) and collaborative features to provide gamers with engaging user experiences, including, multiple tournament modes, immersive eSports communities, lifetime player statistics, achievements, ranks and rewards.
In many respects, the platform mirrors (and combines) what is currently being done by online gamer communities such as Xbox Live, PlayStation Network and Twitch, a live streaming service used by millions of gamers.
According to Esports Mogul, Mogul Arena can also provide “semi-automated brackets for any game including mobile titles such as Vainglory and console titles such as NBA 2K”.
Mogul Arena is currently available in English although there are plans to roll out localised versions with Thai, Spanish, Portuguese, Vietnamese, Chinese and Indonesian language compatibility “in the next 90 days”.