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Esports Tournament Platform XY Gaming Announces Multi-Million Funding Round
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XY Gaming, one of the world’s largest global esports tournament platforms where users compete for cash prizes, announced a $2.5 million USD seed funding round co-led by KB Partners and Varga Capital. XY Gaming organizes asynchronous esports tournaments using its proprietary technology, to create a convenient and hassle-free global arena for gamers to compete in some of the world’s top games, including League of Legends and Dota 2, with support for Fortnite, Rocket League, CSGO and additional titles coming soon. The company has worked with HyperX, GFuel, PaySafeCards, Sennheiser and Pinnacle, and has hosted more than 16,000 tournaments and 12.5 million games to date, catering to gamers of all skill levels.
“The majority of the esports market has few opportunities to compete for cash prizes,” said XY Gaming co-founder and CEO Aaron Fletcher. “Through our simple, free, and one-click to enter and play platform, we enable gamers of all skill levels to take their gaming to the next level in a fair and secure environment.”
The worldwide gaming market includes 2.5 billion active gamers. While most tournaments target the top one percent of gamers, XY Gaming creates a space for all gamers that want to play competitively. The company automatically tracks players’ in-game statistics and awards scores based on performance. Payouts are distributed via Paypal, credit cards, or credit for purchases in the marketplace. Unlike some tournaments which only divvy up earnings to players in the top one percent, XY Gaming divides cash awards between 30-40 percent of all participants in a tournament to increase participation rates and odds of winning.
XY Gaming also offers brands unparalleled engagement and advertising access to its more than 100,000 registered users. The company will use the new capital to enhance its advertising offering by developing a new branded tournaments model and expanding its advertising vertical, to better enable direct brand engagement.
“Numerous brands have indicated a great disparity between what current tournament platforms offer and what brands expect, and I am excited that we now have the capital to grow XY Gaming and create this new marketing vertical that is global, inclusive and scalable,” added Fletcher.
Funds will also be used to expand the team, create marketing campaigns, partnerships and influencer sponsorships to grow the site, and add new well-known game titles including Fortnite, Apex Legends, and Rocket League.
About XY Gaming:
XY Gaming is the world’s largest global esports tournament platform where users compete for cash prizes across games like League of Legends and Dota 2 with support for Fortnite, Rocket League, CSGO and additional titles coming soon. XY Gaming organizes asynchronous esports tournaments, automatically monitoring players’ in-game statistics and awarding scores based on performance to create a convenient and hassle-free competitive arena for gamers of all skill levels. The company has hosted over 16 thousand tournaments and 12.5 million games to date and has attracted more than 1 million people in a single tournament. The company was co-founded in San Francisco. For more information, please visit www.xygaming.com.
About KB Partners:
KB Partners is a suburban Chicago based investment firm focused on early-stage venture capital investments. KB’s principals take an active approach in helping to build dominant new enterprises by working in partnership with talented entrepreneurs and experienced managers. The firm is currently investing out of KB Partners Myriad Opportunity Fund, which invests in passionate innovators at the intersection of sports and technology.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Esports Tournament Platform XY Gaming Announces Multi-Million Funding Round
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REEVO Announces Strategic Partnership with YEEBET Gaming
REEVO, a leading innovator in the iGaming industry, has announced a strategic partnership with YEEBET Gaming, a trailblazing game provider renowned for delivering cutting-edge, immersive entertainment experiences. This partnership marks a significant step forward in REEVO’s mission to connect players with world-class gaming content while providing unparalleled value to its partners.
“At YEEBET Live, our commitment to innovation and delivering the highest-quality iGaming experiences drives everything we do. Our partnership with REEVO is a testament to our shared vision of enhancing player journeys and redefining what online gaming can be. Together, we are setting a new benchmark for entertainment excellence,” said Michael Lee, Chief Executive Officer of YEEBET Live.
Through this partnership, YEEBET’s cutting-edge content will be seamlessly integrated into REEVO’s aggregation platform, offering operators a diverse and innovative portfolio designed to captivate players worldwide. This collaboration empowers both companies to leverage their unique strengths, driving the evolution of the iGaming landscape.
Daniel Cuc, Head of Account Management at REEVO, said: “Our collaboration with YEEBET aligns perfectly with REEVO’s vision of delivering extraordinary gaming experiences through innovation and creativity. By bringing YEEBET’s groundbreaking content to our platform, we are enabling our partners to offer players an experience that goes beyond expectations. This partnership is a bold step forward in shaping the future of iGaming, and we couldn’t be more excited about what lies ahead.”
The post REEVO Announces Strategic Partnership with YEEBET Gaming appeared first on European Gaming Industry News.
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Go on an intrepid slot adventure with Jenny Nevada and the Diamond Temple
Embrace the spirit of adventure in Jenny Nevada and the Diamond Temple, the latest slot from the in-demand content provider, Rival.
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Ryan Maclean, Head of Games at Rival, said: “Jenny Nevada and the Diamond Temple takes players on a thrilling adventure in search of precious gems and big wins. Those who venture deep into the temple will find the greatest treasures and will be helped on their quest by some gripping bonus features.
“Wilds, Free Spins and the Temple Maze Bonus Round promise to get the adrenaline pumped with the extreme volatility bringing unprecedented anticipation to each.
“As will all Rival slots, Jenny Nevada and the Diamond Temple has been developed and produced to the highest standards, ensuring a quality player experience from the first game round to the last.”
The post Go on an intrepid slot adventure with Jenny Nevada and the Diamond Temple appeared first on European Gaming Industry News.
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The Spanish gaming regulator (DGOJ), in collaboration with the Public Treasury and the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences (Sepblac), has held the first Sectoral Conference on the prevention of money laundering and terrorist financing with online gaming operators.
The meeting, which took place at the headquarters of the DGOJ on February 6, brought together representatives of authorised online gaming operators and regulatory and supervisory bodies to address current challenges in the prevention of money laundering, related to the area of regulatory compliance and the main risks of the activity.
The meeting was inaugurated by Mr. Mikel Arana, Director General of Gaming Regulation, together with Ms. Irene Sánchez Pérez, advisory member of the Public Treasury.
Arana then moderated the various presentations in which leading experts from Sepblac, the Financial Intelligence Unit and the Supervisory Authority for the Prevention of Money Laundering and the Public Treasury analysed the latest regulatory developments and sanctions at European and international level, presented the main findings in inspections of operators and spoke about the role of financial intelligence in the prevention and detection of risky operations, among other topics.
This was followed by a round table discussion, attended by experts such as Alberto Navarro, deputy assistant director of inspection at the DGOJ, and representatives of Sepblac and the Public Treasury, where the questions and doubts raised by online gaming operators were resolved.
The post DGOJ Holds Conference on Prevention of Money Laundering appeared first on European Gaming Industry News.
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