eSports
Israeli startup raises $2m to develop the next-gen academy platform for Esports teams
Edge Gaming is looking to revolutionize the competitive gaming world, with a new system that analyses and trains players to become professional gamers
Israeli startup Edge Gaming has just announced its pre-seed round, raising $2m to develop an Academy platform for Esports clubs and gamers. Leading the round are AnD Ventures and Stardom Ventures, two early stage Israeli VCs focusing on consumer & media. Prior to raising the round, The company has been part of the IDCX Studio accelerator program.
The Edge academy platform will enable Esports clubs to invite their large global fanbase into a virtual hub of plentiful competitive gaming experiences. Coupled with other content creation and community activities – the academy hub will enable players to develop and enhance themselves in the best way as professional gamers. Players will be able to join a unique “path to pro” program, train and develop their skills at the level required from professional Esports players, earn rewards, climb the leaderboards and create exciting gaming content with their peers. For Esports clubs, the academy is looking to open a whole new dimension for harnessing their powerful brand power and influence, allowing them to build a pivotal new scalable revenue channel, driven by memberships, special items and other gaming monetization channels that Edge is developing.
The platform’s core technology relies on a novel gaming skills engine, which was developed by renowned sports performance experts, neuroscientists, Esports coaches and AI engineers. The engine analyzes the player’s reactions, thought process and playing style, and then creates specific exercise patterns aimed at developing the player’s cognitive and gaming skills.
The company was founded by brothers Asaf Gazit (CEO) and Omri Gazit (COO). Both were previously officers in the Israeli special forces, gaining extensive experience in training cognitive skills for elite performance scenarios. With Edge, they’ve set out to combine their knowledge with their other big passion: competitive gaming.
“In our military service, we prepared soldiers for some of the most complicated situations a person can endure. We found that despite the obvious differences, training scenarios for soldiers and for professional Esports players are actually quite comparable,” said CEO Asaf Gazit.
“In Esports, players are required to process a great deal of information in a matter of seconds. The engine we are developing, which is a first of its kind in the market, is designed to answer that need, and others, through a 4 stage flow. First it deeply analyzes the players’ ability to process information and react, followed by mapping the results using our science-backed cognitive skills models. Next, the engine shows the player where and how they need to improve, with easy-to-grasp visuals and animations, instead of overwhelming statistics. Finally, it automatically builds for each player a set of personalized exercises and a training program. This level of end-to-end training experience is what aspiring players and Esports clubs have been deliberately looking for” Gazit added.
Roy Geva Glasberg, Managing Partner at AnD Ventures: “The Esports space is already generating billions in revenue, and is growing at a double-digit rate year over year. Our investment in Edge was driven by our conviction in the founders and their vision to bring an exciting new experience to the market of 100s of millions of gamers. The Edge Academy and its underlying technology hold a tremendous opportunity to unlock substantial value & growth for the 3 key stakeholders of the industry: the gamers, the Esports organizations and the game publishers.”
Powered by WPeMatico
Angela Bernhard Thomas
CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL
- CSMG will create and operate College Street FighterTM Tour in North America for the 2024-25 academic year
- College conference Street Fighter 6 champions will punch their ticket to the national Collegiate Esports Commissioner’s Cup (CECC) & May Madness in 2025
eSports
R&D rethink needed for sportsbooks to harness esports’ power
Esports betting is still grappling with a perception problem amongst operators. Despite the leaps and bounds in product development made by suppliers – particularly in the last two years – esports hasn’t shaken off the image built in the late 2010s.
Our good friend, Oliver Niner, Head of Sales at PandaScore, has been kind to share the below article with us.
There’s scepticism around esports betting’s value, how well it can actually perform and what’s needed to make it appeal to bettors. A big part of that comes down to perception, which shapes the research and development (R&D) choices made by each operator.
Self-fulfilling prophecy?
Operators who have put the research and development (R&D) resources into esports are seeing excellent growth, while others are still treating it like part of a long tail. The lack of a uniform approach to esports often translates into hesitancy to be bullish and invest in esports.
Whereas in the United States, post-PASPA sports betting has exploded and operators are seeking to capture as much territory and market share as possible because in most cases, you switch the lights on and the money comes in. It’s, of course, good business sense to take opportunities like this – you can apply the same templates used elsewhere on an incredibly lucrative market.
This kind of approach has been attempted for esports and hasn’t found the same success. Granted, the legislation for betting on esports has been somewhat slower than that of sports betting and iGaming.
However, bullish operators have acknowledged the fact that esports hasn’t found the same success in regulated states and asked what can be done differently, while for others, esports has been thrown into the too-hard basket or relegated to the bargain bucket.
For the latter, the fate of the esports vertical becomes a self-fulfilling prophecy – especially if an operator already using a budget esports product that throttles its very growth.
It takes two to tango
When esports is discussed in broader betting circles, you’ll often hear different versions of the same talking point: the problem with esports is no one is doing it well, it doesn’t innovate.
This argument is a case of the pot calling the kettle black. Esports is a driver of innovation, and it is sportsbook R&D that is holding it back.
Multiple suppliers on the market are investing significant resources into R&D, and bullish operators are leveraging these product innovations to acquire new customers and create engagements made for the internet age.
There are understandable reasons why sports betting doesn’t innovate. It’s largely because operators focus on acquisition, entering new territories and spending money on data rights. But the actual R&D on sportsbook products is left lacking, with ever-increasing cost-per-acquisition (CPA) numbers a clear symptom of this.
It means that if an operator does decide to use or acquire an esports specialist supplier but does little to cater its product and attempts to just lay the sports betting template over the top, of course performance will be throttled.
It’s like putting a Ferrari engine in a Prius – no offence to Toyota or Prius owners.
The same problem exists on the platform supplier front. Platforms are understandably focused on compliance and getting customers live, not necessarily improving models or their products.
Even the idea that if you just acquire an innovative company the problem is solved or you have found the solution, doesn’t hold water. In many cases, the company is acquired and plenty of noise is made about it, but there’s little organisational investment in R&D afterwards.
It’s not just in esports
These problems extend to customer acquisition and marketing for most emerging markets, not just esports. There’s a rush to use the same old playbook in newer sectors because it’s easy.
The fantasy vs. house sector in the US is already experiencing an acquisition arms race. As analyst Dustin Gouker points out, deposit match bonuses for new users on fantasy vs house products have jumped from $100 to as high as $500 in some places.
This is the same race that played out in sports betting and despite the costs, there’s little effort from most operators to try something different. There’s less work when you just put the same acquisition template on an emerging sector and call it a day. This seems to be an accepted practice in the industry, for better or for worse.
Esports betting success requires ongoing dialogue
Rather than attempting to wedge esports into hegemonic sportsbook approaches, sportsbooks need to take a completely unique approach.
The fact is the betting sector has barely scratched the surface – communities of esports fans are still dormant. Canadian operator Rivalry has built a successful, esports-first business by embracing the ever-changing internet culture that esports inhabits. French esports organisation Karmine Corp recently sold out a 30,000-person stadium for an event with no prize money up for grabs.
Innovative products developed on the supplier side like microbetting and betbuilders are only half of the equation.
Maximising esports revenues requires institutional investment, ongoing R&D and collaboration between suppliers and operators to create products and experiences. This includes having staff on the operator side that can drive and push the product further, and crucially, rethinking current sportsbook strategies and practices.
Building experiences for betting’s greatest emerging market – one that caters to your future core audience – takes investment, innovation and a willingness to experiment. If the industry wants to make the most of the Millennial and Gen Z audience that will become its primary customers, investment into R&D and close collaboration between suppliers and operators is needed. Many hands makes light work.
eSports
ESIC Announces Establishment of Global Esports Industry Advisory Board
The Esports Integrity Commission (ESIC) is pleased to announce the establishment of its Global Esports Industry Advisory Board, designed to enhance integrity and ethical practices across the esports landscape. The Advisory Board will serve a pivotal role by providing expert advice to ESIC’s Chief Executive Officer on a range of critical industry issues.
The primary function of the Advisory Board is to create a robust framework for integrity and fairness, setting a global benchmark for ethical conduct and fair competition in esports. The board will offer strategic insights, help shape policies governing fair play, liaise with key industry stakeholders, and act as ambassadors advocating for ethical practices.
ESIC has appointed two highly esteemed members to inaugurate this board:
- David Neichel, Senior Vice President of Public & International Affairs at ESL FACEIT Group (EFG), joins the Advisory Board with over fifteen years of experience in the video games industry, including significant roles at Activision-Blizzard and Electronic Arts. David’s profound impact on international and public affairs initiatives makes him an invaluable addition to the board.
- Robbie Douek, CEO of BLAST, also joins the Advisory Board, bringing a wealth of experience from his roles at Google and Disney, along with his leadership through major acquisitions. Robbie is celebrated for his strategic leadership and his instrumental role in elevating esports to a significant global entertainment platform.
The formation of the Advisory Board is an engagement that underscores the commitment of its members to upholding and promoting the highest standards of integrity within the esports industry. The board will meet as required to address strategic challenges and ensure that ESIC’s initiatives effectively meet current and future industry needs.
“Both David and Robbie bring a remarkable depth of knowledge and a passion for advancing the integrity of esports,” said Stephen Hanna, CEO of ESIC. “Their expertise will be crucial as we navigate the evolving landscape of esports and strive to maintain the integrity that our community expects and deserves.”
Robbie Douek, CEO at BLAST, said: “I’m honoured to be given the opportunity to support the Global Esports Industry Advisory Board and ESIC in their ambition to create the best and fairest environment possible for players, teams and fans.”
David Neichel, Senior Vice President of Public & International Affairs at ESL FACEIT Group (EFG) also commented: “It is a true honour to join the Global Esports Industry Advisory Board and support ESIC’s successful journey. Fairplay and integrity are at the core of esports. We owe it to the players and to the fans and for a better endemic industry governance”
The post ESIC Announces Establishment of Global Esports Industry Advisory Board appeared first on European Gaming Industry News.
-
Balkans7 days ago
CT Gaming to Showcase its Latest Products at the Belgrade Future Gaming Exhibition
-
Australia7 days ago
Nerida O’Loughlin Reappointed as ACMA Chair
-
Latest News7 days ago
NetBet Casino Joins Forces with Habanero
-
British Columbia Lottery Corporation7 days ago
SCCG Management Signs Contract with British Columbia Lottery Corporation
-
Asia7 days ago
Indonesia Establishes Task Force to Combat Online Gambling
-
Latest News7 days ago
PRAGMATIC PLAY DROPS CANDY BLITZ BOMBS
-
Africa6 days ago
Kiron Interactive strengthens Ethiopian performance with Hulu Sport deal
-
BiS SiGMA Americas6 days ago
Sportingtech Places New Local Talent Front and Center at BiS SiGMA Americas