SINGAPORE, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Rarespawn Ventures and Spectatr today announced the signing of a Memorandum of Understanding (MOU) to develop an innovative fantasy platform to bolster fan engagement for gaming, sports, and esports fans worldwide. This partnership merges Rarespawn Ventures’ extensive industry expertise and distribution network with Spectatr's technical proficiency in product development and customisation.
Rarespawn Ventures, a next-generation entertainment group and global venture builder, will leverage its subsidiaries and robust distribution network to promote and market the upcoming fantasy platform. The company will also ensure full compliance with all regulatory requirements for a seamless fan experience.
Spectatr, recognised for its AI-driven solutions in the sports and esports industry, will lead the development and operation of the fantasy platform. The company will also tailor the platform to meet localised market demands as part of the project’s go-to-market strategy.
The partnership comes amid a significant surge in the global online fantasy gaming market, projected to achieve a robust 21.2% compound annual growth rate (CAGR). Forecasts indicate the market will escalate from USD 74.7 billion in 2023 to USD 419.9 billion by 2032.1
“We are thrilled to embark on this venture with Spectatr, merging fantasy gaming, sports, and esports into an immersive platform that will redefine entertainment,” said Samson Oh, CEO of Rarespawn Ventures. “Spectatr’s expertise in crafting tailored gaming experiences, combined with our industry-leading distribution channels, position us to deliver a next-generation entertainment platform for fans worldwide.”
“We are delighted to work with Rarespawn Ventures in pioneering towards a groundbreaking new-age product, and bringing an innovative and interactive fantasy platform to the market,” commented Rishabh Bhansali, Founder of Spectatr. “By combining our extensive experience in developing fan engagement solutions, with Rarespawn Ventures’ profound industry knowledge, we aim to significantly enhance the overall fan experience and lay new industry standards for fan engagement.”
About Rarespawn Ventures
Rarespawn Ventures is a next-generation entertainment group and global venture builder bridging gaming, esports, and entertainment through cutting-edge technology, premium content, and strategic media solutions. Rarespawn Ventures is the holding company of Dynamite Games, GosuGamers, Cargo Studio, and Decentralised Gaming Ventures. Visit https://rarespawnventures.com/ for more information.
About Spectatr
Spectatr is a dynamic sports tech innovation company driven towards creating elevated user-centric engagement. Our goal is to empower immersive viewing solutions for sports and esports patrons. Our products span across fantasy, AI-driven content solutions, on-stream engagement, amongst others. Visit us at http://www.spectatr.gg for more information.
Media Contact
Shaun Leong
PR & Communications Manager
Rarespawn Ventures
(e): shaun.leong@rarespawnventures.com
(m): +65 9199 1606
1 Straits Research. "Online Fantasy Gaming Market Size, Share & Trends Analysis Report." Available at: https://straitsresearch.com/report/online-fantasy-gaming-market
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9a71038f-34b5-4074-a480-867c28c6e429
