Today, Riot Games announced that they will be allowing fans to purchase in-game skins through the official LoL Esports shop using two different currencies. If you dont know these sales will go towards an overall prize pool for all participating teams at international events, which was previously crowdfunded by players purchasing unique digital icons called team banners. These team banners, despite releasing more than two years ago, still constitute the majority of crowdfunding at events such as Worlds and MSI.
This change should be viewed as the first of many steps towards a sustainable future for LOL esports. High-profile investors have recently come into organizations to provide much needed capital investments, but the past few years have still seen numerous organizations fold and player salaries either slashed or non-existent.
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Talking about LOL Esports in deep details:-
Meanwhile, traditional sports teams such as the Philadelphia 76ers and Miami Heat have dipped their feet into esports waters by investing in the near future. This is not just for monetary reasons; professional athletes want to enter a business that they understand, which goes beyond simply owning a team. Traditional sports clubs understand the business of hosting events, selling merchandise, and creating content.
While esports is still heavily focused on video games, it has slowly started to become more like traditional sports every day. The NBA 2K League will be an interesting experiment in whether or not you can build something sustainable without having players actually play the game itself.
Details Regarding LOL Esports Success in Deep:-
As LOL esports continues to grow, so will the number of organizations looking to get involved in some way. The next step is making sure that growth happens without putting people out of work or slowing down potential progress. Riot has laid the groundwork for this with moves like implementing five-man teams and creating revenue sharing opportunities.
Now, they need to finish it by creating a system that allows those who poured their savings into esports to see some return on investment. It is the only way we can truly call this a success as a whole. Esports is now a multi-million dollar industry. Not only are there more gamers, but there are more people willing to pay attention to the esports scene as well. This has caused many companies to want a piece of the pie by investing in teams or running their own leagues.
But that wasn’t the only thing that caused issues for teams and organizations. Over time more and more leagues popped up which meant more tournaments and more money to be had. In order for a team to compete at the highest level, they needed a lot of funding. While this helped out smaller teams, it became harder and harder for bigger teams with investors to make enough money to keep going.
This also caused issues as organizations continued poaching star players from other teams often times offering them salaries that were too good to be true. Since a team needed a certain number of star players to compete with the best teams, this forced many organizations to pay their players more and more money.
In order for LOL esports as a whole to continue moving forward, Riot needs to make changes in how teams work together. In the traditional sports circuit, players are contracted to a team and can not be poached from other teams unless there is a trade involved. This would help organizations from folding but also allow for players to have stable salaries without worry about being poached or their contract running out.
The next step for Riot is very important as it needs to lay out how esports will work in the future now that more money is being poured into it from billionaires and investors. This time around, Riot needs to make sure that the growth is sustainable and allow those who were there from the start, companies like Cloud 9 for example, to reinvest in their organizations rather than slowly bleed out.
Talking about LOL Esports Investors:-
As the LOL esports industry continues to grow, many investors, such as the Philadelphia 76ers, will continue to open their wallets and invest in esports teams. This will not only include teams under their brand but also many esports organizations looking to partner with traditional sports brands.
But as long as Riot takes their responsibility towards players and organizations seriously, I predict League Of Legends esports will not only survive but thrive in the coming future.
mindmingles