Counter-Strike’s best team looks to introduce first eSports team IPO
A high-profile win sends the team to the front
Counter-Strike: Global Offensive (CS: GO) is a shooting game played in the first person that has become very popular in recent times. An eSports team from Denmark is looking to establish itself in a stock exchange and list its shares publicly after having won several millions of dollars from tournament prizes. Astralis Group is currently ranked as the number-one team in Counter-Strike, and functioning as well as a media company in alliance with huge brands like Audi and Logitech. They now also have teams to compete in the League of Legends’ league and FIFA from EA sports and want to capitalize on their status financially.
As of December 9, the listing will be available on a NASDAQ exchange located in Copenhagen that is dedicated to receiving small companies. Astralis plans are to raise around $18 to $22 million offering each share for almost $1(8.95 kroner).
CS: GO competitions have been going on for years now, more specifically since the ’90s, however, since the rise of platforms like Twitch or Youtube where you can stream your gameplay things change. Now, spectators can watch their favorite competitors playing regular events as well as championships, which will bring several opportunities for making good profit from marketing and sponsorship.
The current numbers show that the eSports market is projected to generate around $2 billion in profits by 2022 with the vision of it reaching $595 million in that same year. In this industry, there are already superstars recognized and followed by thousands, like the hundreds of thousands of spectators that were online just to watch this 16-year-old player win the Fortnite World Cup final in New York.