Introducing Duely: The esports stock market with Blockchain technology
A revolution in esports.
Duely is a new ecosystem that uses Blockchain technology to provide greater access to global investment on esports, facilitating community participation and increasing market liquidity.
At present, the sports industry presents serious difficulties for electronic sports clubs. Over the years the snowball generated has forced teams to look for capital beyond the sponsors.
Two years ago, the esports exploded in the public gaze-in the eyes of the public. For two consecutive years ESPN started with a full-time esports section and hosted the Street Fighter V finals inside the 2016/17 EVO tournament on the ESPN 2 television channel. Turner Broadcasting produced a Counter Strike: Global Offensive league (CS:GO), which is broadcast on TBS, the US television network, as well on different streaming platforms. Also the popular title of Riot Games, League of Legends, sold the broadcast rights of the LCS to BAMTech by 300 million dollars until 2023. BAMTech is a company of streaming technology formed by Baseball Advanced Media, The Walt Disney Company and the National Hockey League. The company manages the online rebroadcasts of HBO, MLB, NHL and WWE. Even Big Four accounting firms like PricewaterhouseCoopers and Deloitte are distributing industry reports.
No doubt electronic sports are booming, video game developers and tournaments organizers improve the industry every year, which has made non-endemic companies such as Gillette, Coca-Cola, BMW, Audi or Mercedes Benz join in the esports.
We could write ten pages with all the national and international companies, traditional sports organisations and even governments of some countries that have submerged in the esports, in the future we’ll talk about it. But amidst the flurry of statistics about millions of dollars and an audience whose growth makes it on pace to rival the NFL’s by 2017, one particularly critical number has been floated by SuperData: 74 percent of all revenue within esports is indirect, meaning sponsorships and advertising.
The raw value of that 661 million dollars advertising spend is impressive: SuperData pins it at only 11 percent less than the NBA 2014/2015 season. The NBA makes some 2.6 billion dollars from their broadcast contracts, and another billion in merchandise. Those numbers don’t include ticket sales, which represent another 1,5 billion approximately. While the whims of advertisers represent life or death for esports, for the NBA it’s a measly 15 percent more or less of its income.
The problem lies in the proportions. It represents an enormously disproportionate amount of the cash flow in esports, and a serious liability to the long-term viability of the entire scene. Put very bluntly, esports cannot sustain the trajectory that it is currently enjoying without transitioning to a model where fans carry some portion of the costs.
Esports, blockchain and cryptocurrency are the three pillars of Duely. The platform is currently in development with clear objectives.
The purpose for Duely is grant the possibility to invest in players and teams of esports. Teams get more followers as the esports audience grows, professional players receive higher incomes and demand better regularization. Duely confirm and solve one of the problems facing the esports clubs. The platform wants to cover all the angles for users and professionals in this sector. Offering the possibility of investing in a players and teams of esports and gaining profits depending on the performance of the player or team.
How will it work? In short, the platform is a stock market, we are an organization that provides the necessary tools for users to enter orders, and negotiate buying and selling in the value of the player or team. These actions represent the economic right of the club or player in question, so the price of the buy/sell action depending on the supply and demand.
Duely not only provides the opportunity for users and companies of all sizes to invest in their favorite stars with extremely lucrative returns, but also represents the solution to a real problem for esports organizations, whose existence is mainly subject to money from sponsors. Thanks to Duely, organizations will be able to receive capital and expand without losing control of their companies.
We want to be transparent as water, listen and understand the community, so we have opened different channels and we are excited to contact and discuss with us. We will explain how we use blockchain technology in esports, as well our cryptocurrency and ICO. Also we will publish in our blog different contents.
Join our community, in the next articles we will answer the questions you leave us in this introductory post and in our community, we will also explain in detail our Whitepapper and all our advances.
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