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Animoca Brands partners with venture accelerator Brinc for gaming and esports opportunities

The gaming and esports accelerator to be jointly established by Animoca and Brinc will tap into the burgeoning global esports market.

Global esports market is estimated to be worth US$1.1 billion in 2019

Animoca Brands Corporation Ltd (ASX:AB1) has entered into a series of agreements for collaboration with and investment in global venture accelerator Brinc Limited and its subsidiaries.

The company will invest about $1.06 million of its stock into Brinc via a mutual investment and is also leading the pre-seed investment round into Brinc’s subsidiary Brinc AOA Ltd with a commitment to purchase about $1.06 million of Brinc AOA convertible notes.

Animoca and Brinc will also collaborate on the establishment of an esports and gaming accelerator program.

READ: Animoca Brands plans to consolidate and manage growth in 2019

Brinc is one of the world’s leading venture accelerators, operating seven comprehensive acceleration programs in Hong Kong, the Middle East, Europe, and India.

The company accelerates startups focused on Internet of Things (IoT), connected hardware, drones, robotics, and food technology startups. To date, Brinc has invested in 60 startups from 26 countries.

READ: Animoca Brands invests in blockchain games developer Experimental

Animoca co-founder and chairman Yat Siu said: “Here at Animoca Brands and Zeroth we are thrilled to be working with Brinc, the other major accelerator in the immediate region.

“Brinc’s presence and network significantly increase our pathways into Europe, the Middle East, and China.

“The collaboration with Brinc is the first stage of the establishment of a new ecosystem of accelerators and startups that places us at the epicentre of regional startup activity.”

Multiple opportunities

The gaming and esports accelerator to be jointly established by Animoca and Brinc will tap into the burgeoning global esports market, which is estimated to be worth US$1.1 billion in 2019, a 26.7% year-on-year increase from 2018.

The goal of the new accelerator program will be to assist gaming and esports startups through a combination of equity investment, intensive mentoring, and connections to the top sports and esports business executives, sponsors, game developers, publishers, marketers, and investors that are already within the network of Animoca.

Notably, the global audience for esports is estimated to exceed 450 million in 2019, a 15% year-on-year increase, and will reach 645 million in 2022.

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