An official update issued by the M80, the prominent gaming company, on May 31, confirmed to raise $3 million in a seed funding round. The M80 team announced that the funding round was led by the ExpertDojo team in partnership with VT Tech firm and Practical venture capital.
The company revealed that the funds generated would stimulate Web3 growth. Additionally, the M80 team plans to widen its market presence by introducing competitive esports and improving content creation. The funds would be redirected to branding the consumer’s products.
M80 Funding Round
Over the past, the M80 has gained popularity due to the creative esports groups integrated into best-performing games such as the Valorant, Siege, Rocket League, and the recently launched Street Fighter. The M80 team has occupied a significant market dominance in gaming since the firm has employed professionals who worked in the best-performing esports company.
Reportedly the current chief executive of M80, Marco Mereu, and Nate Schanker, work at the XSET, a world-class esports organization.In a recent study conducted to examine the suitability of the current export ecosystem, Mereu believes that soon the industry will overcome the prolonged storms.
Recently the esports sector has been battling layoffs, stock price fluctuation, teams of sale, and changes in striking players. In an email conversation, Mereu regretted that the unbearable economic pressure had limited the expansion of the esports industry.
He stated that the existing economic uncertainty had compelled key players in the esports sector, including the publishers, and brands, to explore effective strategies to support the firm operations. However, Mereu noted that in the past few months, multiple changes have been implemented to improve the sustainability of the industry.
Strategies to Improve Esport Industry
In an interview with Startland News, Mereu announced that despite having a small group, the M80 has strived to maintain strong financial stability. He mentioned that, unlike larger corporations with a higher overhead cost, M80 had invested more in building customer relationships to retain existing fans and attract new ones.
The M80 team has implemented a unique approach to boost customer experiences. Most esports firms have primarily adopted follower count and hyper-growth strategies to reach a larger audience.
Besides the strategies applied to increase the number of clients, the M80 team has adopted a friendly culture to motivate the stakeholders to support the growth of the esports sector. The M80 has implemented the latest Web3 technologies to revolutionize the gaming sector.
In an earlier report, the M80 team revealed plans to explore the decentralized autonomous organization (DAO) technology. A DAO is a decentralized community with similar interests and the right to vote using the crypto token.
The M80 team plans to invest in developing packaged goods with features corresponding to digital products with real-time utility. Such packaged goods will utilize Web3 blockchain technologies to meet market needs.
Mereu confirmed that the gaming and esport sector would continue to grow to serve a large group of audiences across the world. He stated that roughly 3 billion people depend on the gaming and esports sectors.
Elsewhere the chief executive of the community gaming Chris Gonsalves stated that the crypto and tech sector has massive potential to transform the esports industry. However, Gonsalves has urged firms to explore practical strategies to improve the esports sector.