The status of the Esports industry has once again increased as the NBA legend, Michael Jordan, invests in Axiomatic, and Epic Games pulls in $1.2 billion in funding.
If you want to increase your status, and biologically, all of humanity is designed to do so, then it pays to have people of a high-status advocate for your cause.
The world is like a game of snakes and ladders.
Team up with the people standing at the top of the tallest pieces of wood, and avoid the ones who have ended up sniffing a snake’s crotch.
One type of person who perennially stands at the top of the tallest ladder is a legend, and Michael Jordan fits that bracket as snugly as a cockroach inside a twinkie.
Jordan, a six-time NBA Champion, transcends the sport of basketball. The 55-year-old is a veritable legend of the game, and when he puts his backing behind a product or brand, the competition starts citing their last rites.
Air Jordan, anyone?
The former Chicago Bulls star is the latest NBA legend to invest in Esports, after becoming involved in aXiomatic’s most recent round of funding. aXiomatic is the parent company of Team Liquid, and they recently raised $26m with Jordan having a piece.
Jordan called the Esports industry the fastest-growing industry in the world and said he was glad to expand his sports equity portfolio through his investment with aXiomatic.
The decision by Jordan to invest in aXiomatic sees him join fellow NBA legend, Magic Johnson. Johnson is a part owner of aXiomatic, as are the Golden State Warriors co-owner Peter Guber, and Washington Wizards co-owner Ted Leonsis.
Forbes estimate Team Liquid’s worth to be in the realm of $200m.
Jordan isn’t the only star investing in Esports this week. The three-time Grammy Award winner, Drake, has invested in the Esports apparel company, 100 Thieves, as has the entrepreneur and talent manager Scooter Braun. 100 Thieves founder, Matt “Nadeshot” Haag has now raised $25m in funding this year.
Epic Games Drags in $1.26 Billion.
If you think price tags of $26m & $25m are expensive, then hold that thought.
Epic Games, the developer of the grossly popular Battle Royale game Fortnite, recently held a $1.26 billion investment round. Interestingly, aXiomatic were amongst the investors. Not bad for a company founded in Tim Sweeney’s basement, back in 1991.
The Chinese gaming giant, Tencent, bought a 40% interest in Epic Games back in 2012 when the company was worth an estimated $825m. Between Sep 2017 and May 2018, Epic Games hauled in $1.2 billion in revenue, with 125 million people playing the game across all devices.
Bloomberg value the company at $14 billion.
These investments are fantastic news for the gambling industry, with the likes of Unikrn, Pinnacle, and Luckbox sure to grow as a direct result of the popularity in the sport that’s moving faster up the ladder than any other in the world.
How long before traditional sports land on a very long snake?