Crypto-currencies meet e-Sports and raise $27 million

    chiliZChiliZ, a new startup created by poker legend Alexandre Dreyfus, utilized the use of private placements and managed to raise an impressive $27 million. By taking advantage of the latest developments in blockchain technology in their platform, they enable fans to participate in the crowd-management of eSports teams. Dreyfus, who has turned into a reputable persona in the poker industry during the past 10 years, being directly involved in well-established ventures such as Hendon Mob, the Global Poker Index and Global Poker League, managed to bring the best of both worlds, namely eSports and Crypto, with chiliZ.

    With the intent of democratizing the eSports vertical and being inspired by crowd management practices seen in Real Madrid and FC Barcelona, where fans play an important role in key decisions such as president elections, Dreyfus quickly realized how that could also be applied in eSports as well. The goal was to find a way through use of all the latest advancements in blockchain to grow revenue out of the existing eSports fan base, by allowing them to “call the shots”.

    Dreyfus enthusiastically noted that this new venture gives fans a voice through a lucrative medium that will set new standards in the industry. All of the funding until now has come from Asian investors, which proved to be quite demanding given the decrease in the prices of many Cryptos lately. Dreyfus mentioned that the faith they have in their robust business model will overcome such hindrances in the long run.