The Ledger Group has announced that it has invested a planned $1.5 million USD in esports organisaton Splyce, the latest of a series of investments the company has made in the world of esports. What's more is that they will be rebranding to OverActive Media to focus on their esports efforts.
"Our core thesis and enthusiasm for blockchain continues, however after extensive due diligence on the esports industry we are optimistic that it represents a significant opportunity for our shareholders," said Adam Adamou, Chief Executive Officer of The Ledger Group. "We continue to encourage our portfolio companies to deploy blockchain technologies where it makes sense, however it will no longer be a component of our investment criteria. We believe that technology is a means to an end, but that compelling ideas should be unshackled from the technologies that delivers them."
Will more companies invest in esports organisations?