Rarespawn Ventures and Spectatr Sign MOU to Develop Fantasy Gaming, Sports, and Esports Platform, Promising Innovative Fan Engagement Solutions
August 20 2024 - 10:48PM
Rarespawn Ventures and Spectatr today announced the signing of a
Memorandum of Understanding (MOU) to develop an innovative fantasy
platform to bolster fan engagement for gaming, sports, and esports
fans worldwide. This partnership merges Rarespawn Ventures’
extensive industry expertise and distribution network with
Spectatr's technical proficiency in product development and
customisation.
Rarespawn Ventures, a next-generation
entertainment group and global venture builder, will leverage its
subsidiaries and robust distribution network to promote and market
the upcoming fantasy platform. The company will also ensure full
compliance with all regulatory requirements for a seamless fan
experience.
Spectatr, recognised for its AI-driven solutions
in the sports and esports industry, will lead the development and
operation of the fantasy platform. The company will also tailor the
platform to meet localised market demands as part of the project’s
go-to-market strategy.
The partnership comes amid a significant surge
in the global online fantasy gaming market, projected to achieve a
robust 21.2% compound annual growth rate (CAGR). Forecasts indicate
the market will escalate from USD 74.7 billion in 2023 to USD 419.9
billion by 2032.1
“We are thrilled to embark on this venture with
Spectatr, merging fantasy gaming, sports, and esports into an
immersive platform that will redefine entertainment,” said
Samson Oh, CEO of Rarespawn Ventures. “Spectatr’s
expertise in crafting tailored gaming experiences, combined with
our industry-leading distribution channels, position us to deliver
a next-generation entertainment platform for fans worldwide.”
“We are delighted to work with Rarespawn
Ventures in pioneering towards a groundbreaking new-age product,
and bringing an innovative and interactive fantasy platform to the
market,” commented Rishabh Bhansali, Founder of
Spectatr. “By combining our extensive experience in
developing fan engagement solutions, with Rarespawn Ventures’
profound industry knowledge, we aim to significantly enhance the
overall fan experience and lay new industry standards for fan
engagement.”
About Rarespawn
VenturesRarespawn Ventures is a next-generation
entertainment group and global venture builder bridging gaming,
esports, and entertainment through cutting-edge technology, premium
content, and strategic media solutions. Rarespawn Ventures is the
holding company of Dynamite Games, GosuGamers, Cargo Studio, and
Decentralised Gaming Ventures. Visit https://rarespawnventures.com/
for more information.
About SpectatrSpectatr is a
dynamic sports tech innovation company driven towards creating
elevated user-centric engagement. Our goal is to empower immersive
viewing solutions for sports and esports patrons. Our products span
across fantasy, AI-driven content solutions, on-stream engagement,
amongst others. Visit us at http://www.spectatr.gg for more
information.
Media ContactShaun LeongPR
& Communications ManagerRarespawn Ventures(e):
shaun.leong@rarespawnventures.com (m): +65 9199 1606
1 Straits Research. "Online Fantasy Gaming Market Size, Share
& Trends Analysis Report." Available at:
https://straitsresearch.com/report/online-fantasy-gaming-market
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9a71038f-34b5-4074-a480-867c28c6e429