Briefly
The Chiliz Group has acquired a controlling stake in OG Esports, a outstanding aggressive gaming group.
OG Esports unveiled its personal fan token on Chiliz’s Socios.com platform again in 2020. It lately hit an all-time excessive worth.
Chiliz has teased varied future team-related advantages for OG token holders, together with a brand new Web3-related undertaking.
The Chiliz Group, which operates the Socios.com crypto fan token platform, introduced Tuesday that it has acquired a 51% controlling stake in OG Esports, the aggressive gaming group based in 2015 by Dota 2 legends Johan “nOtail” Sundstein and Sébastien “Ceb” Debs.
OG made historical past as the primary workforce to win consecutive titles at The Worldwide—the annual, high-profile Dota 2 world championship event—in 2018 and 2019, and has since expanded into a number of video games together with Counter-Strike, Honor of Kings, and Marvel Rivals.
The workforce was additionally the primary esports group to affix the Socios platform with the 2020 debut of its personal fan token, which Chiliz mentioned lately turned the primary esports workforce token to exceed a $100 million market capitalization.
OG was lately priced at $16.88, up almost 9% on the day following the announcement. The token’s worth peaked at a brand new all-time excessive of $24.78 final week forward of The Worldwide 2025, the place OG didn’t compete this 12 months.
Following the acquisition, Xavier Oswald will assume the CEO position, whereas the co-founders will flip their consideration to “a brand new strategic undertaking consolidating the workforce’s aggressive basis [and] driving innovation on the intersection of esports and Web3,” per a press launch.
No additional particulars had been supplied concerning that undertaking.
“Bringing OG into the Chiliz Group is a serious step towards additional strengthening fan experiences, one the place the neighborhood doesn’t simply watch from the sidelines however will get to form the journey,” Chiliz CEO Alex Dreyfus advised Decrypt. “With the workforce’s legacy, founders like Johan and Ceb nonetheless entrance and middle, and a digitally native fanbase, we’ve the right basis to discover a next-gen mannequin for esports engagement.”
“Working with the OG founders, we’ll discover making the $OG store a window [into] what fan tokens can carry to fan communities,” he added. “That would imply token-based governance, NFT ticketing, unique drops, or on-chain loyalty techniques, and presumably even progressive concepts like tying buybacks to workforce income and event prizes.”
OG presently has the very best market cap of any fan token on the Socios.com platform, in accordance with information from CoinGecko. Socios has additionally launched official tokens tied to conventional sports activities giants like Juventus, FC Barcelona, and Paris Saint-Germain F.C., together with the UFC preventing league.
Socios.com will function the unique platform for OG fan tokens, positioning the token for instance of the evolving fan financial system that integrates real-world belongings, merchandise, and membership revenues.
“We’re nonetheless early on this partnership, however the aim is obvious: to align OG’s aggressive success with actual, on-chain worth for his or her international fanbase,” mentioned Dreyfus. “That is the place esports and Web3 can really come collectively.”
GG E-newsletter
Get the newest web3 gaming information, hear instantly from gaming studios and influencers protecting the area, and obtain power-ups from our companions.
