Esports is all about strategy, skills, communication and reaction, and like traditional competitive sports at world class level, it is an engaging and action-packed entertainment product. It is for this reason that we are seeing so many recognisable brands trying to grab a foothold in this nascent industry.
Last Friday, we discussed the impending esports market correction, and the factors it could have on the industry. In particular, we identified that while the industry as a whole may suffer financial losses, the grassroots players would bear most of the brunt. For those that have not already, you may want to read our article pertaining to this market correction.
This article will narrow its focus onto the establishment of teams, taking the process, benefits and costs for doing so.
Intergalactic Gaming’s Social Competitive Gaming Platform
In celebration of exceeding 6000 Twitter followers, we recently revealed three videos of the IG platform so far! This provides an insight into what we have built and sheds further insight on the future direction of our online social competitive ecosystem.
Video One: Creating a Profile
- This video demonstrates the ease of creating a profile on the IG platform.
- The platform will only accommodate PS4 and Xbox at this stage of development; it makes sense as majority of FIFA gamers play on these consoles, and FIFA is the first game supported.
- Soon, our platform will support PC & Mobile gamers as we look to increase our player base through diversification of games supported.
Video Two: Establishing a Team
- The second video demonstrates the smooth process of establishing a team on the platform, also showing utility of our IG Gold token.
- Fee for establishing a team = 1,000,000 IGG (this figure may change as our platform progresses).
Video Three: General Overview of Platform
- The final video provides a more general overview of the current platform. The platform has shown to be intuitive and easy to use, which has also been confirmed by player feedback.
- Present features include:
— User Profile
— Settings
— Notifications
— Player/Team/User Search
— Team Invitation/Request
— P2P Chat
If you like what you see, be sure to head over to our official Twitter to Like and Retweet!
Esports Organisations & Teams
Venture Capitalists, businesses and various other stakeholders may join competencies, experience and capital, to create an esports organisation. To date, many sports and entertainment powerhouses have given backing to some teams due to the industry’s astronomical financial and viewership projections, and there will certainly be more. With esports’ ability to connect with generations unlike ever before, organisations are beginning to field multiple teams to diversify their value propositions helping the organisation thrive in such a dynamic environment.
It is important to clearly distinguish the difference between organisations and teams:
- Organisations refer to the overarching company that may have multiple teams that compete, typically under one single brand.
- Teams refer to a group of players competing in their chosen esport together; for example, a Call of Duty team of five players.
Esports organisations and teams seek to pay for the top players, coaches, and managers to increase their chance of winning big tournaments, prize pools, and thus build a better brand. Another revenue stream comes from media coverage of the team, which results in an increase in advertisement, merchandise and sponsorship deals. However, with the rising wage demands for the top players, and most organisations paying for their players living costs, as well as salaries, operational costs for organisations without VC investment can be significant and a barrier to entry.
Organisations and teams will play a critical role within our competitive gaming ecosystem; however, the former will be prevalent further along our roadmap schedule. In the coming months, we will see the proliferation of grassroots, and semi-professional teams providing a multitude of opportunities for gamers within the IGGalaxy. This is in line with our mission to nourish the competitive gaming industry, which is significantly larger than the esports segment of the colossal gaming industry.
We intend to nurture collaboration and growth that will foster the creation, management and scaling of teams and organisations with a focus on community, competition and development. The IGGalaxy will therefore provide the infrastructure to facilitate more grassroots gamers, coaches, managers, content creators, and so on, becoming more familiar with the industry.
Why Teams Should Join the IG Platform
With an initial focus on teams, some of the notable features and benefits for establishing teams on the IG platform include:
Intergalactic Online Profile
The IG platform will provide enhanced online visibility to the team, their other profiles (Twitch, YouTube, Twitter and other social media platforms), achievements and much more! This customisable page will serve to act as each teams public central hub. In terms of community and fan engagement, this will provide valuable exposure for teams, organisations and wider brands. In addition to this, we will begin to build a centralised grassroots base that will unite game communities all across the world.
Access to Ranked and Practice Tournaments
Teams will be able to compete in ranked tournaments to increase their standings within the IGGalaxy. These tournaments will often have prize pools and will enable competition with similar ranked teams. In addition, teams will be able to host and/or compete in scrim (practice) matches so they are fully prepared for any upcoming tournaments! The consistent competitions will help provide teams with the practice they need to improve their skill and climb the rankings. To employ the old cliché, “practice makes perfect”; this feature alongside the regular tournaments will undoubtedly increase the overall skill level of players and teams.
Automatic Tournament Prize Payouts
An important feature of the IG platform is the automatic tournament prize pool distribution, providing certainty to teams and players. With a built-in wallet, teams and players will be able to receive any tournament winnings almost instantaneously.
IGG Payment Solutions
Smart contracts will enable the secure execution of all payments. Our solution, powered by the TRON protocol, will ensure fast, free, and secure transactions, which provide certainty for payment to players, staff and various other stakeholders the team may enter into a relationship with.
Player Transfers
Teams will be able to sign and sell players at the Galactic Grand Exchange (GGE) transfer market. This will further incentivise team owners and other stakeholders to invest in grassroots players to support their development.
Advertising, Media and Sponsorship Sales
Advertising, media and sponsorship sales will be facilitated via the IG platform, connecting the teams to brands of various sizes will be a key objective of the platform. We intend to make this feature accessible and user friendly.
Team Ownership
Anyone will be able to establish a team on the IG platform; this feature will not be exclusive to gamers. On the contrary, we intend to provide the tools to support people who foresee competitive gaming as the future of entertainment. The IG platform will help those who would love to participate and support the esports industry, but may be unsure about operating this dynamic landscape!
Team ownership provides the opportunity for a return on investment, which is essential to any business model. To incentivise team establishment and investment to grow we will be utilising the blockchain and smart contracts to enable the secure transfer of value. Depending on the team’s activity, team owners, managers, and wider spectators alike will have access to a number of metrics including team earnings, history and their social media presence.
With this, our platform has begun to introduce the concept of team ownership. Teams will be bought and sold via smart contracts to adhere to our (IG’s) ethos of certainty and transparency.
Teams may have multiple owners, but as of yet, this feature has not been implemented. As all teams will have an allocated wallet, teams with multiple owners will require a multi-signature, which again will be implemented to the joint ownership feature.
Having the opportunity to converge the multi-billion dollar digital assets industry with the competitive gaming space will enable value to flow to the competitive grassroots, and subsequently esports landscape. Later, the introduction of organisations will enable the management of multiple teams under one brand.
Revenue Sharing Agreements
Eventually through our competitive infrastructure, we hope to monetise various leagues and tournaments. Once we have fully planned how this would function in the IGGalaxy, including long-term sustainability, then revenue generated from competitions, media rights, micro-transactions may be shared among the participating teams. Notwithstanding, we do not envisage this feature being added in the immediate future.
Business Tools and Services:
Eventually, the IGGalaxy will present itself with the opportunity to provide an array of analytics, management, as well as all other recruitment services at all levels within teams and organisations. However, to reiterate again, this feature will not be included in the immediate future as we will need to thoroughly plan how we would deploy this effectively.
Cost for Establishing a Team on the IG Platform
The present fee set for establishing a team on the IG platform is 1,000,000 IGG ($100~).
From this fee, the 1,000,000 IGG will be automatically distributed as follows:
Burn: 50% (500,000 IGG) burned from existence.
As we implement additional features and make the proposition of establishing teams on the platform more attractive, we expect more teams on the IG platform. Naturally, the amount of IGG burned from the circulating supply will simultaneously increase as the number of teams established increases. This automated burn function will serve as one of our many planned deflationary mechanisms.
Retained: 50% (500,000 IGG) retained by Intergalactic Gaming.
Please note that this distribution may be subject to change. We will ensure notification to our community regarding changes to the automated distribution of the fee taken for establishing teams on the IG platform.
A Look Ahead
As more and more casual gamers join the IGGalaxy, playing, socialising and building a sustainable competitive gaming ecosystem, we guarantee a nutritious gaming experience. Our focus on grassroots gaming will essentially house these gamers, encouraging them to establish teams to take their passion and skill for gaming to the next level.
In addition, anyone who holds IGG will be able to enter the esports industry by establishing a team on the IG platform, utilising our innovative framework to navigate through the vast and complex landscape. As previously stated, and highlighted in previous articles, our infrastructure will also entice and incentivise those who are not gamers, or brands, to join the movement through the certainty, scalability and security of our solution.
To keep up to date with developments, please follow us on our various social media channels:
Website: www.iggalaxy.com
Twitch: https://www.twitch.tv/igg_esports
Discord: https://discord.gg/5kx4tKR
Reddit: https://old.reddit.com/user/Intergalactic_Gaming
Twitter: https://mobile.twitter.com/IG_Galaxy
LinkedIn: https://www.linkedin.com/company/intergalactic-gaming
Telegram: https://t.me/IGG_Official
