The Canadian eSports industry has been growing fast in recent years and it is attracting various enthusiasts from all fields. The esports market in Canada is projected to hit $2.8 billion in the next three years. It has been drawing massive investments including some from renowned artists.
For instance, Canadian hip-hop artist, Drake co-owns American eSports brand, 100 Thieves. Similarly, The Weekend is one of the highest investors in OverActive Media which owns the Overwatch team, Toronto Defiant. The popularity of eSports has continued to grow with viewership hitting significant numbers.
Torque Esports’ acquisitions are yield results
Various Canadian esports companies have made significant progress in establishing themselves as leaders in the industry. One such company that is making substantial progress is Torque Esports Corp (OTCMKTS: MLLLF). The company has significantly progressed this year in terms of revenue streams, new customers and already its acquisitions are yielding results. Torque’s integration of UMG Media into its business is already yielding fruit and it working on a merger with Frankly Media (OTCMKTS: FRNKF) and WinView Inc.
The company’s new COO, Darcy Lorincz has been working on integrating the tournament business of UMG into Torque. The company has a deal with Microsoft Corp (NASDAQ: MSFT) for the Gears of War game franchise. It is one of the many new partnerships the company expects to announce in the coming days. Also, the company has a new business plan and approach that it will unveil soon that will include a move of streaming eSports tournaments and events throughout the day.
YDX Innovation Corp release a new game
Also, YDX Innovation Corp (OTCMKTS: YDRMF) has also been making strides of its own and it recently gave an update on the projects it has lined up. The company has released a beta version of the Mickey Mouse and the Golden Heart game for piloting and evaluation. The company created the game exclusively for Arkave VR and it will be distributed by YDX and The Walt Disney Company Brazil.
This will be the company’s largest game and will be the first time it is partnering with TWDCB. YDX Innovation CEO Daniel Japiassu indicated that they were delighted and proud to bring such experience to the game. He added that they extended development time as they add more content to the game and more addition with a release date expected to be at the beginning of Q2 2020.
Team Reciprocity signs LOI for a reverse takeover
M&As have been the trend in then eSports industry as companies seek to consolidate operations to operate better. Team Reciprocity is the latest to announce that has signed a letter of intent for a reverse takeover with Rainy Hollow Ventures. The LOI will see Rainy Hollow Acquire all Team Reciprocity’s outstanding and issued securities.
According to the LOI, the companies will enter a definitive agreement but as of now, they are yet to close the deal. If the deal is closed Team Reciprocity will get listed on the TSX Venture Exchange.