VANCOUVER, BC / ACCESSWIRE / July 6, 2020 / YDX Innovation Corp (TSXV:YDX)(OTC PINK:YDRMF)(FSE:A2PB03) ("YDX" or the "Company"), is pleased to announce that it has entered into a partnership agreement with Amuka Esports, a leading Canadian esports venue, league and tournament provider. Both companies will be developing a suite of tools that focus on building social gaming communities, online tournaments and live broadcasting technologies.
YDX has already made significant inroads this year in building a diversified esports ecosystem. With the recent acquisitions of Beat Gaming and Purple Mage Advisors, the company is ramping up its footprint within the growing esports industry. "Esports and gaming are a core functions of our mission to create cutting-edge immersive experiences. We are excited to partner with Amuka Esports, who have already built out a large base of active gamers in Canada, to change the way gaming and technology converge," according to Daniel Japiassu, CEO of YDX Innovation.
COVID-19 adjusted forecasts for the esports industry still see it rising to $1.11B in 2020 (Source: Business Wire https://bwnews.pr/31MHO4C). While many live events have been cancelled or postponed, the industry has thrived in an online environment and according to Ben Feferman, CEO of Amuka Esports, that's where the biggest opportunity lies. "We've been able to run online tournaments that are seeing 10x more participants than a comparable live event. We know the demand is there, but the technology and tools are lacking for competitors, teams and content creators. Utilizing YDX's expertise in game development, VR, immersive experiences and esports, we are really excited about what we can develop together."
The first product in development, currently dubbed ‘Project K1ND,' will be an online social platform that aggregates online gameplay with customizable leaderboards, amateur and pro-league integration and performance and mental health resources. The platform will be built with strict community monitoring of all forms of harassment, abuse and toxic gameplay.
Project K1ND is slated to go live in 2021.
About Amuka Esports - https://amukaesports.com.
Amuka Esports is Canada's leader in esports venues, leagues and tournaments. Last year they produced 200+ events at their venues in Toronto, Windsor and online.
About YDX Innovation
YDX Innovation Corp. (TSXV:YDX) (www.ydxinnovation.com) is a technology company that develops products and services and is an expert in immersive technologies like Augmented and Virtual Reality, eSports events and Interactive Exhibitions under the following four divisions:
Arkave VR Arena - https://sales.arkavevr.com/ - a gaming platform that brings the most immersive Virtual Reality experience to Location-Based venues with a highly scalable business model. Developed as an all-in-one gamers haven featuring state-of-the-art free room tech right down to the most nostalgic gaming systems.
YDreams Global - www.ydreamsglobal.com - have developed over 1,300 interactive experiences for clients all over the world such as Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AmBev, Qualcomm, Unilever, City of Rio and Fiat.
BEAT Gaming - www.beat.gl -Founded in 2011, BEAT Gaming is an experienced Canadian esports company that has organized internationally recognized events such as the Dota 2, Overwatch and PUBG BEAT Invitational. Since its creation, BEAT has organized over 30 professional and semi-pro esports events, which have reached over 40 million views globally.
Purple Mage Advisors - www.purplemage.com - Purple Mage Advisors (PMA) is a research and data analysis firm that specializes in player recruitment and development in the gaming industry. PMA helps esports and gaming companies with industry reports, player recruitment, player training, data analysis and relevant statistical reporting.
Director and CEO
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation: the belief that Company has a bright future that depends on strategic investment in new technologies; the intention to build a sustainable and conscientious company; the intention that YDX will have a stronger presence online through new products in esports and VR; and the intention to bring Virtual Reality to consumers directly and offer expertise in immersive technologies to allow companies to better operate during the new reality of the COVID-19 pandemic. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Company's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Company's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Transaction, including: that the Company's assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and VR; the inability to bring Virtual Reality to consumers directly and offer expertise in immersive technologies; and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Company, including its results and financial condition. Except as required by securities law, the Company does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: YDX Innovation Corp.