Singapore’s Esports Players League Bags $1 Million in a Fundraiser

Singapore-based Esports Players League secured $1 million in a fundraising round graced by American Venture Capital firm 500 Startups early in the week.

Also known as ESPL, Esports Players League announced their website, saying 500 Startups contributed a “significant portion” of the money raised.

ESPL plans to use the funds raised to sponsor its first global league scheduled to run from April to November this year.

ESPL: Who they are and What they do

Based in Singapore, Esports Players League is “a global esports tournament and media network.” It plans to hold its first season starting this April in 16 countries around Asia, Europe, and America.

ESPL is partnering with renowned esports events organizers to make the tournaments a success. Crucially, it’s targeting a relatively untapped market: amateur gamers in countries where eSports is underappreciated.

The startup plans to use a hybrid online and land-based model when it comes to scouting talent and holding competitions. That way, it will be able to reach online gamers easily but also create awareness about eSports where Internet penetration is low.

An Internet presence is particularly crucial for ESPL if it wants to attract financiers. Esports sites to bet on, for example, might want to sponsor the competitions. However, they can only chime in if ESPL makes it possible for bettors to access its data online.

Mobile Gaming First

In addition to targeting amateur players, ESPL will also pay more attention to mobile eSports. That makes sense. The company is targeting underappreciated gamers by giving them a platform to compete for prizes, fame, and sponsorships.

And what group of gamers are more underappreciated than mobile players? The plan also makes sense business-wise. Some of the countries where the Singapore-based startup hopes to set shops have populations dominated by mobile gamers and few PC and console gamers.

Of course, ESPL doesn’t rule out plans to support console and PC gamers. In fact, the company officially has plans to hold tournaments for these players. However, its business model is built to prioritize mobile over PC gaming.

Sponsors and Partners

ESPL is hoping it attracts more sponsors along the way. But presently, its biggest partner is Linear TV, an Internet-based media network focused on eSports.

The station will broadcast a select number of competitions throughout the ESPL league. What’s more, it will feature at least one reality TV show centered on ESPL adventures around the world.

ESPL also has a similar partnership with EGG, one of the biggest eSports TV networks in South Asia. ESPL sealed the deal a few days after its fundraiser. And considering EGG has two million active monthly viewers, it’s a major deal that could elevate ESPL’s brand in Asia.

Being a new company, ESPL might take time before it convinces more eSports financiers to join hands. However, it’s working to partner with ESL, an event organizer with connections on some of the best eSports sponsors out there.

Still, the Michael Broda-owned company has high hopes of securing more sponsorships later this year. And sure enough, the eSports industry is gearing up for more investments down the line.

Up to 47% More Investments

An eSports survey published on foley.com predicts eSports sponsorships will increase by up to 47% this year. That’s a sharp increase from the 39% rise witnessed in 2018. According to experts, improved investments are indications investors believe eSports will be around for a long time.

Foley’s Bobby Sharma says the anticipated growth of eSports is also a sign the industry has become part of the mainstream culture.

“It is a clear sign that traditional investors believe in the longevity of the space and have made the financial judgment that eSports is now part of the culture,” Bobby Sharma recently told foley.com.

For better or for worse, it’s not just eSports that will benefit from investments. According to foley.com, experts believe financiers will also partner with traditional sports teams and leagues.

Promoting eSports Integrity

Although often overlooked, eSports has a cheating problem. Last November, a famous Fortnite player, Jarvis Kaye, disappointedly left his lavish apartment in Los Angeles to live with his parents back in the UK due to a cheating scandal.

Kaye, who’s also a pro-gamer, was banned for life. According to Epic Games, Kaye was caught using a bot that improves the accuracy skills of a player. Sadly, the 17-year-old also took a break from broadcasting to over 2 million YouTube subscribers

Kaye isn’t alone when it comes to famous gamers banned for cheating in eSports. In the last two years, several professional gamers have been banned temporarily or permanently for using cheat bots.

It will be intriguing to find out what approach ESPL will use to curb cheating at the grass-root level. Nurturing professionally-minded talents at the amateur stages might elevate its reputation and turn it into a global brand.