Briefly
- The Chiliz Group has acquired a controlling stake in OG Esports, a outstanding aggressive gaming group.
- OG Esports unveiled its personal fan token on Chiliz’s Socios.com platform again in 2020. It not too long ago hit an all-time excessive value.
- Chiliz has teased numerous future team-related advantages for OG token holders, together with a brand new Web3-related challenge.
The Chiliz Group, which operates the Socios.com crypto fan token platform, introduced Tuesday that it has acquired a 51% controlling stake in OG Esports, the aggressive gaming group based in 2015 by Dota 2 legends Johan “nOtail” Sundstein and Sébastien “Ceb” Debs.
OG made historical past as the primary group to win consecutive titles at The Worldwide—the annual, high-profile Dota 2 world championship event—in 2018 and 2019, and has since expanded into a number of video games together with Counter-Strike, Honor of Kings, and Marvel Rivals.
The group was additionally the primary esports group to hitch the Socios platform with the 2020 debut of its personal fan token, which Chiliz mentioned not too long ago grew to become the primary esports group token to exceed a $100 million market capitalization.
OG was not too long ago priced at $16.88, up practically 9% on the day following the announcement. The token’s value peaked at a brand new all-time excessive of $24.78 final week forward of The Worldwide 2025, the place OG didn’t compete this 12 months.
Following the acquisition, Xavier Oswald will assume the CEO function, whereas the co-founders will flip their consideration to “a brand new strategic challenge consolidating the group’s aggressive basis [and] driving innovation on the intersection of esports and Web3,” per a press launch.
No additional particulars have been supplied relating to that challenge.
“Bringing OG into the Chiliz Group is a serious step towards additional strengthening fan experiences, one the place the group doesn’t simply watch from the sidelines however will get to form the journey,” Chiliz CEO Alex Dreyfus advised Decrypt. “With the group’s legacy, founders like Johan and Ceb nonetheless entrance and heart, and a digitally native fanbase, we have now the proper basis to discover a next-gen mannequin for esports engagement.”
“Working with the OG founders, we are going to discover making the $OG store a window [into] what fan tokens can deliver to fan communities,” he added. “That might imply token-based governance, NFT ticketing, unique drops, or on-chain loyalty methods, and presumably even progressive concepts like tying buybacks to group income and event prizes.”
OG at the moment has the very best market cap of any fan token on the Socios.com platform, in keeping with knowledge from CoinGecko. Socios has additionally launched official tokens tied to conventional sports activities giants like Juventus, FC Barcelona, and Paris Saint-Germain F.C., together with the UFC combating league.
Socios.com will function the unique platform for OG fan tokens, positioning the token for example of the evolving fan economic system that integrates real-world property, merchandise, and membership revenues.
“We’re nonetheless early on this partnership, however the aim is evident: to align OG’s aggressive success with actual, on-chain worth for his or her world fanbase,” mentioned Dreyfus. “That is the place esports and Web3 can really come collectively.”
GG Publication
Get the most recent web3 gaming information, hear instantly from gaming studios and influencers masking the house, and obtain power-ups from our companions.