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Canadian Blockchain Company Helping Further eSports Development

https://coinsquare.com/register/?r=80UMM

Nova Scotia-based technology startup Ubique Networks, Inc. partnered with Sri Lanka’s national telecommunications provider Sri Lanka Telecom (SLT) to use blockchain to power eSports for Sri Lankan gamers.

Originally reported by gaming new site Gaming Post, the two parties signed a formal agreement in November 2018 at the Sri Lankan-based Canadian High Commission.

Ubique Networks will provide it’s Swarmio technology, based on its “Q Network” blockchain protocol to provide a decentralized gaming platform for Sri Lanka. The Swarmio dApp, according to reports, is already used by around 25,000 eSports players.

Swarmio’s goal is to allow gamers or eSports players to compete against each other globally with zero lag or latency using its blockchain and intelligent technology.

The technology will be used to meet Sri-Lankan gaming demand from millenials. eSports players will be able to organize and play in competitions based on Ubique’s blockchain technology. There currently appear to be three games available on the platform.

The Q Network uses distributed ledger technology (DLT) and artificial intelligence (AI) to provide real time interactive services. As well as the Swarmio dApp technology, Ubique Network’s is exploring its blockchain protocol’s application for 5G mobile internet of things (IoT).

The Q Network blockchain also has a native dApp called Q Node which allows normal PC users to peer-to-peer share idle resources. Users can choose to allocate unused storage space or processing power when their systems are not in use. Decentralized resource sharing could eventually begin to replace massive centralized data centers by using a connected network of many smaller devices which share power and resources where needed.

Ubique Networks hopes to build a hyperconnected, yet decentralized, computer network using its Q Network blockchain.

The company was created in 2015 by CEO Vijai Karthigesu. The organization received funding from investment from Toronto-based venture capitalists Extreme Venture Partners (EVP) and Nova Scotia’s Innovacorp. The company also won an “Export Achievement Award” from Nova Scotia’s Sydney Chamber of Commerce in 2017.

On top of equity investments and prize winnings, the company received a repayable investment of $500,000 from the Atlantic Canada Opportunities Agency’s Business Development Program in June 2018. This last funding was to expand its team from 14 to 24 and help with commercializing the platform and upgrading data centres.

In December 2018 Ubique added a third Canadian office at Volta Labs in Halifax, Ontario.

Image credit: Ubique Networks logo

SOURCE: Coinsquare

URL: https://coinsquare.com/register/?r=80UMM

OVERACTIVE MEDIA GROUP Raises over $22 Million in New Round of Funding

Toronto-based esports organization expects to close Splyce acquisition; adds more investors to their roster

January 14, 2019 (TORONTO, CANADA) — OverActive Media (“OAM”), announced today it has closed its latest round of equity funding, raising over $22 million. The announcement follows OAM’s $21.5M initial round of equity funding closed in October, 2018. The proceeds from the funding will be used to fund the operations of OAM’s Toronto Defiant Overwatch League franchise; to fund OAM’s Splyce-branded franchise in the League of Legends European Championship (“LEC”);  to finalize OAM’s acquisition of Splyce Inc.;  and for general working capital and business development purposes.

This new round of funding was completed by current and new shareholders, including institutional, corporate and private investors. It was completed on a non-brokered basis.

“This is another key milestone in the evolution of OverActive Media into a premier global esports ownership platform,” said Chris Overholt, President and CEO of OverActive Media. “We are humbled by the enthusiastic response from investors and partners around the world. We look forward to pushing ahead with our core franchise strategy, and to building out our already-strong fan communities with our players, sponsors and partners.”

In November, OAM announced it had entered into an Agreement in Principle to acquire global esports stalwart, Splyce Inc. (“Splyce”). The deal saw OAM take ownership of multiple international esports teams including the newly-awarded Splyce franchise in the LEC. The acquisition is expected to close in the next thirty days.

OverActive owns the Toronto Defiant of the Overwatch League and a franchise in the European League of Legends. In addition, OverActive has competitive teams that participate in a number of different titles, including: Call of DutySmite, Rocket League and Starcraft II.

Paulo SenraVice President, Content and Communications, OverActive Media

ABOUT OVERACTIVE MEDIA GROUP

OverActive Media Group (“OAM”) is an integrated company delivering esports and video game entertainment. We’re combining team ownership with audience engagement to better connect with our fans, franchise partners and corporate sponsors around the world. OAM is headquartered in Toronto, Ontario, Canada. OAM owns the Toronto Defiant of the Overwatch League, a League of Legends European Championship series franchise and Splyce Inc.

ABOUT SPLYCE:

Splyce, founded in 2015, is home to top level teams across multiple esports titles around the globe. Since its inception, the organization has grown to include teams in League of LegendsCall of DutyRocket LeagueStarcraft IIHaloSmite and Paladins.

Splyce is headquartered in Rochester, NY with a global reach, with players and staff based out of Europe, North America and Asia. By investing in quality resources, infrastructure and support for our teams, we create a solid platform for players to devote themselves to competition and also set the standard for the rest of the industry. We seek to foster talent and build the best teams possible through hard work and innovation.

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