Tech: eSports Mogul nabs ‘industry first’ collab with Alliance, readies cap raise
It is a watershed day for micro cap tech play eSports Mogul (ASX:ESH), which has signed a deal with one of esport’s most recognisable franchises before bunkering down in a trading halt as it prepares a capital raise.
The company, which refers to itself as Mogul for short, told investors this morning that it will provide its esports tournament platform to Alliance, allowing Alliance to establish its own annual tournament series and membership offering.
The Europe-based Alliance franchise is well-known, with a host of iconic industry competitors playing games such as Super Smash Bros, Fortnite and Dota 2.
The agreement will see Mogul and Alliance targeting 100,000 monthly subscribers — who will pay $US5 dollars per month for the privilege — under a shared revenue model. Mogul describes the ability for a franchise to host its own tournament as an “industry first” as it boosts its reach in Europe in the international esports market globally.
Alliance CEO — and renowned esporter — Jonathan ‘Loda’ Berg said he was stoked to be partnering with the $14 million Australian-listed business.
“Alliance could not be more excited to be working with Mogul on the planning of a world-class online tournament series and membership offering to support our fan base and grassroots esports across Europe,” he said.
“This partnership represents an opportunity to create entirely new revenue streams for both Mogul’s market-leading technology and the Alliance brand. Together we have devised industry-first value creation strategies and a genuine innovation in commercialisation models for esports teams.”
“The diligent work on Mogul’s value proposition for various segments of the industry is now beginning to crystallise, demonstrated by the advocacy and commitment of a global esports powerhouse the likes of Alliance in this milestone deal,” he said.
ESH shares are currently in a trading halt as Mogul prepares to release a follow-up capital raise announcement.
Blockchain stocks continue to rise. Two blockchain stocks — DigitalX (ASX:DCC) and Fatfish Blockchain (ASX:FFG) — are on the rise this morning. DigitalX is up 16 per cent, with the company yesterday announcing a $3.8 million cap raise, while Fatfish is up 23 per cent. The price of Bitcoin has been on the up.
Flamingo AI (ASX:FGO) gets tax refund. The company received $1.1 million through the government’s research and development tax incentive program, boosting Flamingo’s cash position to $5.4 million.