Esports is one of the more unusual things that we have seen rising from the digital revolution. The fact that millions of people would tune in to watch other people playing video games competitively might sound like a strange concept. But there is little denying the basic fact that esports has made a small number of entrepreneurs very rich. As such, it’s worth taking a quick look to see how some small business owners have turned their companies into gold as a result of being quick to jump on the esports bandwagon.
The sheer speed with which esports has grown to become a world-beater has taken many people by surprise. The competitive gaming phenomenon only really took off in South Korea less than 20 years ago, and since then the esports industry has expanded dramatically to cover all continents, and is expected to be worth a whopping $1.7 billion by 2021. Whilst the rise of esports has alarmed many in the traditional sporting world, a few enterprising individuals managed to get in there early to make a quick buck off the back of competitive gaming.
Many entrepreneurs were already working in the video gaming industry when they realised just how potentially lucrative esports could be. Take Kevin Chou who sold his Kabam mobile gaming company to Netmarble and Fox for over $800 million and was quick to put some of his profits into esports. Chou realised that the Blizzard Entertainment game, Overwatch, was set to become one of the breakthrough games in esports, and with the fact that its parent company was setting up an official league, Chou purchased the rights to the South Korean Overwatch League franchise, Seoul Dynasty.
Of course, you don’t have to own and sell a successful mobile gaming company to make it big in esports. Take the inspiring story of Sean ‘Day9’ Plott who went from being a massive gaming fan to an acclaimed Starcraft II commentator. Plott’s Day9 Daily show has clocked up well over 60 million views on YouTube and it has become the go-to place for anybody who is a fan of StarCraft II. It’s Plott’s sheer enthusiasm for gaming that has helped him carve a career in a rapidly growing industry. By taking the plunge to set up initiatives like the After Hours Gaming League, Plott has managed to open up the world of esports to people who may have had little initial interest in gaming. And by anticipating exactly what gaming fans want to see, he has shown that sheer passion can be a massive asset for any entrepreneur.
So far we have looked at games developers and video gaming fans who have made it big in the esports industry. But esports has grown to be such an all-encompassing phenomenon that it has created many interesting spin-off industries. From esports betting resources like www.lolbettingsites.com to competitive gaming influencer agencies such as Upfluence and Viral Nation, it seems there’s plenty of room for being a little creative when it comes to this rapidly growing industry.
But as always, there remains the question of how do you get your kickstarter project funded. Thankfully, esports is such a promising industry that many established firms are setting up investment projects to help aspiring entrepreneurs take their project to the next level. For example, the heirs to the Adidas sports brand launched a start-up accelerator open to esports that offered up to €25,000 to any entrepreneurs with a promising concept. Whilst Adidas is famous seen as a sports brand, the fact that it is taking steps to help esports grow shows just how seriously the competitive gaming realm is being taken.
As such, it’s clear that esports opens up plenty of possibilities for anyone who is keen to take their home business to the next level. Whether you are a gaming fan like Whinston who was in his early twenties when he set up the hugely profitable Immortals esports team, or are a venture capitalist like Foy who has set up many enterprising esports projects like Instant eSports, it shows that the competitive gaming realm has plenty of fascinating possibilities for all aspiring entrepreneurs.
