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Rick Fox has made a name for himself on and off the court with investments in esports. However, the former NBA superstar could soon be calling it quits with one of his most successful ventures — Team Echo Fox — if one particular investor does not leave the company. A week ago, Fox announced that he would be stepping away from Team Echo Fox, an esports company he helped create, over a shareholder using racist language to describe Jace Hall, the company’s CEO. The news was first reported by gaming site Dexerto . According to Dexerto, racist language being used towards people at Echo Fox is a common theme, but one that Fox could not ignore: “Most shareholders have tried to ignore this in the hope it goes away and this has forced Rick’s hand to leave. He obviously isn’t going to stand for that and was hoping the matter would be addressed on a shareholder level rather than just swept under the carpet.” -Dexerto In a recent interview with TMZ, Fox explained that although he loves what...
The Weeknd has been relatively quiet on the music scene, but now he’s making noise with his latest investments in OverActive Media, Canada’s leading esports organization. OAM owns Overwatch League’s Toronto Defiant and Splyce, making it one of five esports organizations in the world to have permanent spots in both League of Legends and the Overwatch League. “As a big esports fan, I am really excited to be involved in this project,” The Weeknd said in a statement . “I am looking forward to collaborating with OverActive Media in unique and innovative ways.” The Weeknd joins OverActive Media weeks after the company hired two former military professionals to help train some of its esports players. Esports has rapidly expanded, and celebrities have been chucking out investments in hopes of huge returns. Drake, Snoop Dogg and a number of other artists have started dipping into esports, an industry that brought in $43.4 billion in revenue in 2018. With no signs of slowing down, it is no...
Snoop Dogg just added esports to his resume. The hip hop legend has created his own league called the “Gangsta Gaming League,” for Madden NFL 2019 in partnership with Merry Jane, a cannabis-focused news platform. Snoop and eight of his closest gaming friends participated in a Madden tournament that was streamed on Twitch, Mixer, YouTube and Facebook for a $10,000 jackpot. This latest move by the rapper could prove beneficial for him in the long run. According to a report by the Entertainment Software Association and NDP Group, the video gaming industry reached a record $43.4 billion in revenue in 2018, up 18 percent from 2017. For esports alone, the market is set to hit $1.79 billion by 2022, according to estimates from Newzoo. Football has had a special place in Snoop’s heart for quite some time. He served as a youth football league coach for more than a decade and now he’s taking his talents online. Snoop Dogg, along with other rappers like T.I. and Soulja boy are seeing gaming as...
PlayVS, the company working to bring esports to the high school level, today announced it raised just over $30 million in a series B funding round . This comes after it amassed $15 million during a series A just six months ago. PlayVS took a different lane into the esports arena. Instead of focusing on the larger communities across the country already participating in competitive gaming, it focused on high school students–a group somewhat underserved. This investment round was led by groups like Elysian Park Ventures and Science Inc. Adidas also came on as a new investor, making it the first esports investment for the company. Samsung and Sean Combs are two other notable new investors who joined during this round. The growing esports company is also adding two new games, Rocket League and SMITE, which should make it more popular for gamers who want to be a part of the platform. The company also announced several months ago that it was teaming up with League of Legends — an immensely...
Michael Jordan is investing in the esports holding company aXiomatic, making it his first investment in this emerging world of entertainment. “I’m excited to expand my sports equity portfolio through my investment in aXiomatic,” Jordan said in a press release . “Esports is a fast-growing, international industry and I’m glad to partner with this great group of investors.” In 2016, aXiomatic became the parent company of Team Liquid, one of the world’s top esports brands. Jordan has also invested in other ventures like Charlotte Hornets, restaurants and car dealerships in North Carolina since leaving the NBA in 1999. He’s currently worth more than $1.17 billion, which is expected to increase with his investment into aXiomatic. Jordan’s business and financial affairs manager Curtis Polk is also joining aXiomatic as an investor. Jordan, Polk, Capital Declaration, along with existing investing helped aXiomatic secure $26 million in its Series C funding round. Other existing investors...