- Market boost can bring more attention to burgeoning industry, indirectly benefitting the talented players from Asian country
Recent developments in the burgeoning Esports industry are seen as a welcome infusion in providing a platform to world-class gamers, especially in Pakistan and the UAE.
Coming up this month in the United States is a public listing from Gamer Pakistan Inc, a month after the rising youth Esports icon Arsalan ‘Ash’ Siddiqui talked about the problems faced his ilk from the Asian country. A three-member team from Pakistan, including Ash, defeated South Korea to win Gamers8 Tekken 7 Nations Cup in Saudi Arabia in early July.
UAE companies have invested or sponsored rising Esports talent from Pakistan and continue to do so. In June, the second edition of Dubai Esports and Gaming Festival concluded with more than 26,000 spectators visiting. But the platform of opportunities has some catching up to do, according to Ash who told Geo TV: “Even with all the talent in the world, we don’t have anyone pushing individuals to take that leap of faith to enter the global arena.” The Tekken champion’s meteoric rise started from the UAE in 2018 when he won the OUG Tournament, his first career win, and was sponsored by an Emirati Esports company Vslash before Red Bull signed him up.
On the financial markets front, the IPO listing can be seen in the same context as a unique boost. Managed by Click IPO, US brokers licensed from the Securities Exchange Commission, the listing will, for the first time in history, allow investors access to a Pakistani business on the Nasdaq exchange.
The company’s name is K-2 Private Limited and is funded and owned by the US parent Gamer Pakistan Inc. The company produces Pakistan’s largest National University & college tournaments broken down into geographical regions culminating in one national championship team. K-2, in affiliation with Esports Exclusive, has its teams compete against India’s top team through the Rival Nations Network.
According to a Forbes report last year in America, the top 10 ranked teams in the world are worth $1/4 billion USD each. Pakistan already has 2 players ranked in the top 25 in the world. Recently the Pakistan government recognized Esports as an identifiable sport and business area for growth.
Esports is one of the fastest growing sports regarding participation and viewership in the history of the world. Microsoft’s $69-billion deal to purchase US gaming giant Activision Blizzard is going ahead, it was confirmed in July after clearing legal hurdles.
Past precedent in the US has Esport stocks enjoy meteoric first-day pops – 507 percent in one example of Esports Technologies in 2021, and going further up to 700% – with Asian markets commanding a dominant share. A 2022 Statista report studied first-day IPO stock performances from 2008 to 2021 and observed the majority rate of positivity around them.
Up until recently, the public common investor typically did not have access, nor could purchase IPO shares. These New Issue shares were typically reserved for very large retail investors with accounts of $10 million or more – or Institutional Investors. Today, thanks to the internet and the rise of the fin-tech industry, companies like Click IPO have emerged. Through the mobile application of Click IPO, any investor can download and purchase shares of companies going public.