VANCOUVER, BC / ACCESSWIRE / August 27, 2020 / YDX Innovation Corp (TSXV:YDX)(OTC PINK:YDRMF)(FSE:A2PB03) ("YDX" or the "Company"), is pleased to provide an update on the July 6th news release regarding a strategic partnership with Amuka Esports ("Amuka").
This partnership will see these two companies working together on three (3) core esports projects.
- "Project V" is an initiative where the partnership will co-develop an esports tournament series led and organized by an all-female team. The intention of this tournament will be to support, showcases and empower all aspects of women in gaming. Additionally, we strive to encourage and inspire new female gamers to get involved and participate in the gaming community. Both Companies have support of their current corporate sponsors towards meeting initial goals while generating strong top line revenues.
- The Amuka team will support YDX in creating the roadmap and infrastructure for the [previously announced] Comic Convention International Esports League. This will include monetization from tournament registration, merchandise, event sponsorship, licensing streams and VOD media rights.
- Amuka has committed to building the base for an upcoming tournament framework to launch a completely innovative form of competitive VR gaming, or ‘VSports'. YDX will lend its titles from the Arkave library and from third-party catalogues to support the competitive side format. YDX will also provide its technology and expertise in Virtual Reality, in addition to resources and key industry contact.
"We are in a great position to create several high-value esports assets that will drive strong revenues through its global reach and appeal. We are excited to be working with Amuka Esports to accelerate these initiatives which will start to materialize as early as Q4 of 2020," according Daniel Japiassu, CEO of YDX Innovation.
Amuka Esports has produced over 300+ events, largely in the Tier 1 and Tier 2 gaming titles but sees a new opportunity in the fusion of VR and traditional esports.
Ben Feferman, CEO of Amuka Esports added, "Our goal is not to be evolutionary, but revolutionary. You need to think what the next generation of alternative competitive gaming looks like and I'm convinced that is going to be VR. We want to pioneer and create the foundation for the future esports leagues and with YDX Innovation and their current content partners, we will have a significant head start."
The first YDX Innovation esports initiative, ‘Project V', is scheduled to take place in Q4 of 2020.
About Amuka Esports
Amuka Esports https://amukaesports.com is Canada's leader in esports venues, leagues and tournaments. Last year they produced 200+ events at their venues in Toronto, Windsor and online. In addition they own and operate a tier 2 CSGO team, an esports incubator and an esports lifestyle and content brand.
About YDX Innovation
YDX Innovation Corp. (TSXV:YDX :: www.ydxinnovation.com) is a global leader in the commercialization of immservive new technologies that incorporate virtual reality, augmented reality, esports and gaming. Its core business seeks to monetize through licensing its IP, developing interactive exhibitions and through esports tournaments and content.
Arkave VR Arena - https://sales.arkavevr.com/ - is a proprietary gaming platform that brings location based virtual reality to any location-based event or entertainment centre. Arkave features state-of-the-art free roam technology coupled with a vast library of both in-house and third-party games.
YDreams Global - www.ydreamsglobal.com - has developed over 2,000 interactive and immersive experiences for some of the largest global brands including Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AB InBev, Qualcomm, Unilever, Fiat and the City of Rio de Janeiro.
BEAT Gaming - www.beat.gl - is an industry-leading 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 has reached over 40 million viewers 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: negotiations with sponsors and creation of a major esports brand. 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; adverse market conditions; the inability of YDX to complete the Transaction on the terms announced or at all; the inability of YDX to finance any necessary costs associated with the Transaction; risks relating to the satisfaction of the conditions to closing the Transaction; that future results may vary from historical results; and that market conditions or competition may affect the outcome of the Transaction and the business. 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: YDX Innovation Corp.