FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “FORTNITE WORLD CUP Dominated by UMG Series Competitors.”
Legends were made and champions were crowned this weekend in New York City at the Fortnite World Cup. With over $30,000,000USD awarded to players in the Solos, Duos, Creative and Pro/AM World Championships, countless lives were changed from a few flights on Fortnite’s Battle Bus.
UMG Online is an eSports website, a high-quality next-generation gaming experience. With origins as a LAN event provider, the company is now set to branch out into the online gaming world. The daily source for tournaments and ladders, offered on multiple games across various platforms.
The company’s professional staff will provide the best and fairest gaming services for all users. As gamers themselves, UMG understands the mechanics of good gameplay and what is needed to ensure an enjoyable, competitive atmosphere. UMG Online is community based, users and their needs will always come first.
This past weekend, 16-year old teenager Kyle “Bugha” Giersdorf dominated the Fortnite World Cup Solo Finals and took home the USD 3 Million grand prize. The Fortnite World Cup took place at the Arthur Ashe Stadium in Queens, New York over a three-day period. The first day was the Creative Finals and the Celebrity Pro-Am. The second day hosted the World Cup Duos final, where Norway’s Emil “Nyhrox” Bergquist Pedersenand Austria’s David “aqua” Wang won the USD 3 Million prize pool. However, many gamers focused on the World Cup Solo Finals where popular names like Turner “Tfue” Tenney, Noah “Vivid’ Wright, Danny “Dubs” Walsh, and Harrison “Psalm” Chang competed for the championship. Despite their efforts, Bugha prevailed and came out on top by a large margin. For the entirety of the tournament, Bugha kept a lead ahead of his competitors and dominated until the end, showcasing his aggressive and unique gamestyle. Throughout the weekend, an overall prize pool of USD 30 Million was split among over a hundred players, making it one of the largest payouts in eSports history. A decade ago, South Korea’sLee “Jaedong” Jae-Dong was the highest earner in eSports prize money, collecting USD 86,265 from StarCraft: Brood War over the entirety of the year, according to ESPN. Now, Bugha completely reshaped the eSports scene after winning USD 3 Million in just one day from the most competitive tournament. Times have drastically changed throughout the recent years, when back then most players would compete for a couple of thousands of dollars. Today, becoming a professional eSports player has become a viable career option and many teenagers and young adults are actively pursuing a career. Many chasing after an eSports career undergo tedious regiments in order to become top players in the industry. And as the eSports industry continues to develop, more and more people could potentially pursue a career for tournaments that could pay even more than the Fortnite World Cup years later. According to data compiled by Technavio, the global eSports market is projected to increase by USD 1.2 Billion between the forecast period from 2018 to 2022. Additionally, the market is expected to grow at a CAGR of 28% during the forecast period.
Bugha’s winnings place him at the Top 10 of the all-time highest overall earnings lists, according to esports earnings. The teenager was able to surpass hundreds of other professional players from Dota 2, Counter Strike, and League of Legends. To date, Bugha has accumulated USD 3.02 Million in earnings from tournaments. According to a Goldman Sachs eSports report, it is estimated that total prize pools will grow to USD 256 Million in 2019, increasing by 50% year-over-year. Although prize pool growth is expected to slow down in the shortcoming years, Goldman Sachs still estimates that 2022 will boast a massive overall prize pool of USD 413 Million. The majority of tournament prize pools stems from crowdfunding, which is typically from players purchasing in-game products, which are more commonly known as microtransactions. Henceforth, the larger the player base, the larger the prize pool is expected to be. Specifically, Fortnite owner Epic Games was able to hold the largest tournament because of its 125 million global player base, making it one of the largest monetized games in the world. According to the Wall Street Journal, Epic Games currently a valuation of approximately USD 15 Billion as of late 2018, thanking a large portion of its success to Fortnite. As audiences and player bases continue to grow each year, tournaments are starting payout more than sports such as football, baseball, or basketball. In some instances, industry experts believe that eSports will threaten the livelihood of traditional sports. International Olympic Committee President Thomas Bach says that eSports can become a competitive threat to sports, but he also believes that eSports can complement it. “We don’t have trending data so far back we can say there is a significant shift, but we have asked respondents that when you started watching eSports, has this dug in to traditional sports — and, yes, they watch less traditional sports, especially in the future because traditional sports are behind paywalls, so it’s easier for younger kids browsing YouTube or Twitch to get in touch with eSports,” Per Pieter van den Heuvel, head of eSports at Newzoo said. “It’s definitely a threat for traditional sports – it takes time from those who watch sports and younger people have lower barrier of entry.”
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