- Ignite Tournaments will use $10 million to create an innovative play-to-earn gaming platform
- The money comes from the company’s latest funding rounds
- Ignite Tournament’s envisioned platform can turn any mobile title into a play-to-earn experience
Ignite Tournaments will use the $10 million it earned in its latest funding rounds to create an innovative mobile play-to-earn platform.
Ignite Tournaments Will Put Its Proceeds into Use
The play-to-earn esports company Ignite Tournaments announced that it will use the money from its latest funding rounds to create the world’s first play-to-earn mobile esports tournament organization and streaming platform with payouts in crypto and NFTs. The company plans to put $10 million into this project.
The money was raised through Ignite Tournaments’ latest funding rounds. The first one took place in December 2021 and garnished the company $3 million. The second one came in February and got Ignite Tournaments an additional $7 million. The latter was co-led by the Hong Kong-based game software company Animoca Brands, the cryptocurrency fund Infinity Ventures Crypto and the venture capital fund Moon Holdings Fund.
The chief executive officer of North America for Animoca Brands, Robby Yung, is delighted by the opportunity to support Ignite Tournaments’ vision. He remarked that his company’s success stems from its clever investments in promising projects both within and outside of the gaming industry.
“It is under this exciting context that we are eager to both invest in as well as to explore integrating our games with Ignite Tournaments.”
The Company Has a Clear and Innovative Vision
Ignite Tournaments has a visionary approach to play-to-earn gaming and is excited to put the money into good use. It plans to create a platform that can transform virtually any mobile title into a play-to-earn experience. The company has big plans and cannot wait to start building its visionary business.
Ignite Tournaments is oriented towards mobile gaming for a reason – mobile titles have enjoyed unparalleled success in Asia and beyond. The tendencies have pushed some of the biggest esports game developers to release mobile versions of their games. Titles like PUBG Mobile, Call of Duty Mobile, and League of Legends: Wild Rift, among others, have enjoyed great success in the mobile market. Riot Games has even announced an upcoming mobile version of its first-person shooter VALORANT.
With more and more people seeking to make their passion for gaming worthwhile by betting on esports or playing play-to-earn games, Ignite Tournaments’ vision is a recipe for success.