The eSports industry has taken the world by storm and in the last decade, it has continued to expand to unexpected levels. In Canada, the industry has grown to be a big business and it plays an important role in the country’s economy. The industry is booming and it seems that it will not stop any soon with the country boasting around 23 million gamers. Various eSports companies such as Versus Systems Inc. (OTCMKTS: VRSSF), Fandom Sports Media (OTCMKTS FDMSF), Enthusiast Gaming Holding Inc. (OTCMKTS: ENGMF) and Axion Ventures Inc. (OTCMKTS: AXNVF) among others are shaping the eSports space in Canada.
Advances in technology boosting the growth of eSports
Advances in mobile technology especially with smartphones have fuelled the growth of the eSports industry in Canada. The age of the 4G network and the latest ongoing deployment of 5G has made it possible for everyone with a smartphone to access online games. The development of the latest mobile networks has significantly enhanced browsing speed which has resulted in better gaming experience for eSports enthusiasts.
The 4G network has enhanced speeds relative to 3G but the newest and latest 5G will be more effective and will enable cloud gaming effortless without latency issues. The 5G deployment will make it possible for consoles to be built in portable devices and will thus increase the number of electronic games available online. Equally, it will address lagging which is a challenge that affects virtual reality on eSports thus improving the virtual reality experience.
Equally the Canadian eSports industry has benefitted from the growth of the online gambling sector. The country is among the first countries to legalize online gambling on several sports including eSports. The gambling industry in Canada is huge and it generates around $31 billion annually with online gambling accounting for $4 billion in revenue.
Celebrities investing in the eSports industry
The eSports industry is booming with massive opportunities and this has attracted the attention of various investors including some A-listers. Celebrities such as Drake have made some investments in the eSports industry that was thought to be worth around $1 billion by the end of last year.
Drake has invested around $25 million in 100 thieves and he is one of the celebrities who has invested in the industry without a sports background. Investments from the various celebrities in the industry globally are estimated to be around $200 million which is an indication of the confidence various enthusiasts are having in the industry.
eSports franchise Toronto Defiant Partners with SkitpTheDishes
Sponsorships are one way through which the industry generates revenue and various companies and eSports teams have partnering with various companies. Recently Overwatch League franchise Toronto Defiant signed a multi-year agreement with SkipTheDishes. OverActive Media has selected the food delivery network to be the franchise’s official food deliverer.
OverActive Media VP Global Partnerships Tyler Keenan indicated that the food category is a very competitive partnership and they are delighted to welcome SkipTheDishes to be the company’s partner. He added that the Toronto Defiant team’s home games this season will have the highest expression and thus partnering with SkipTheDishes will be an amazing experience for fans.