The eSports industry is growing in popularity all over the world and it is attracting a lot of fans. The industry has been gaining traction in Canada with cities such as Montreal leading the Charge. Esports is becoming increasingly influential in the gaming market in Canada and they even launched an eSports academy and Esports Central gaming complex in Montreal. Montreal has become an eSports hub for big names such as Ubisoft (OTCMKTS:UBSFY) and Electronic Arts (NASDAQ:EA) among others.
eSports industry presents an opportunity for Canadian law firms
As the industry continues to grow Canada is at the center of the industry’s legal developments. There is a growing number of eSports companies on the Canadian Securities Exchange (CSE) and the Toronto Stock Exchange Venture Exchange (TSXV). Evans Kubes a Toronto-based lawyer indicated that the Canadian capital markets have been vital in the growth of the esports industry in the world.
It is easier to go public in the Canadian exchanges compared to doing so on the New York Stock Exchange. Kubes indicates that more eSports entities will continue listing in Canada going forward. As a result, this is an opportunity for Canadian law firms as the industry is still growing with regulation lagging behind. Kubes who is the co-founder of the first eSports focused law firm stated that player rights and uniformity in contracts are still under development.
Enthusiast listed in the US’s OTCQB Venture Market
With the industry growing eSports companies are also expanding their reach. Recently Enthusiast Gaming Holding Inc. (OTCMKTS:ENGMF) announced that its common shares will be trading in the US on the OTCQB Venture Market under the symbol “ENGMF”.
The company’s shares will also continue trading on the TSX Venture Exchange under the symbol “EGLX”. Burns Figa and Will Pc law firm acted as the sponsor of Enthusiast. This is a big step for the company and an opportunity to diversify its stockholder base with enhanced liquidity and brand visibility.
Torque creating a streaming frontline in eSports
Streaming is a vital aspect of the esports industry and Torque Esports (OTCMKTS:MLLLD) is creating a new front line in the gaming sector. The company has secured a position in data analytics in the eSports sector through the purchase of Stream Hatchet. YouTube and Twitch are the popular streaming sites for the industry and already Twitch has over 15 million daily active esports enthusiasts. Torque’s Stream Hatchet is disrupting the esports sector and already it is bursting at the seams with throngs of data.
Stream Hatchet is among the leading data options for the gaming sector and most advertising revenues rely on this data. It is a strong player in data whereby anyone wishing to grow in th3e eSports industry will have to go through torque at some point. The data that Stream Hatchet handles is vital in the $200bn gaming industry and ad revenues. Global esports revenue could reach $1.1 billion this year with 40% of it coming from sponsorship and this is where companies can leverage Stream Hatchet’s data analytics to reap.