A major Venture Fund has been launched by Play2Live for future investments in the ever-growing world of gaming and esports.
Founded in 2017, Play2Live was launched with the vision to bring a new sense of interaction between streamers, esports tournament organizers, and viewers in a ‘seamless system.’
The service utilizes ‘blockchain’ technology, along with a ‘Level Up Coin’ (LUC) token that can be converted into a collection of different currencies, and allows everyone within the ecosystem to potentially earn money.
In May, it was announced that Play2Live will be launching a venture fund with an initial value of $2 million with the intention of backing various projects relating to esports and gaming.
With the esports industry estimated to reach a volume of $1.5 billion by 2020 in terms of investments, numerous companies and startups are attempting to make their way into the space, however, may require financial assistance to get moving.
Alexey Burdyko, the Founder and CEO of Play2Live, mentioned how they receive a plethora of inquiries from potential startups and groups looking to get into the esports and gaming world, and that it is ‘extremely important’ for Play2Live to help provide support.
“It is extremely important for us to support fast-paced, rich in opportunities esports market. Every day we receive calls from projects preparing for the token sale, or various startups looking for financial investments. To help them in the most efficient way and to identify the most promising ones, we decided together with Play2Live partners and investors to launch a fund and start working right away. And of course, we will consider potential synergy with Play2Live. Our platform provides expanded ecosystem open for partnerships with promising young market players”
Projects from Eastern European countries and CIS will be the main focus of the fund, with a range of $50k to $150k in terms of investments. Developers, gamedev specialists, and blockchain experts will also gather for ‘hackathons’ in areas such as Minsk, Moscow, and Kazan with the aim to find projects in different areas of the gaming field.
Play2Live is set to announce the first investment deals ‘in the coming months’ from the time of writing.
Organizers have revealed the new schedule for Flashpoint Season 2, which will see teams competing for the largest CSGO prize pool of 2020 at $1 million.
The competition has been held completely online since March, due to the ongoing concern surrounding the global health situation, and that will continue for Season 2 as well.
This tournament venture between B Site Inc. and FACEIT kicks off its second season on November 10, 2020, with participating teams and the schedule released in the days leading up to the start.
So, let’s take a look at which teams are playing when, and how you can catch all the action.
Opening matches for Flashpoint Season 2.
The matches will all be streamed on FLASHPOINT’s Twitch channel, and with no in-person attendance and all games being held completely remotely, this will be the only way to watch the matches.
Duncan ‘Thorin’ Shields, who is participating in the leadership of FLASHPOINT’s creative direction, has predicted Group C will definitely be the one to watch, with OG (who are favored by many to win it all) and potential dark horses Cloud9 battling it out, along with Virtus.Pro in the mix as well, who finally seem to be getting in the swing of online play.
In Group B, BIG emerges as a clear favorite, but Thorin added “there will be heavy competition for the second-best team.” Finally, all eyes in Group A will be focused on taking down MAD Lions, who came out on top in first place following Flashpoint Season 1.
How Flashpoints Season 2 will work, from Group stages all the way to the Grand Final.
Flashpoint Season 2 format & schedule
FLASHPOINT Season 2 will start off with a Group Stage where 12 teams will compete in three different Groups. The top two teams in each group will automatically qualify for the Playoffs.