CAPSL Chooses ICO Route To Fund AR/VR Future of ESports
By Jett Li | Like many budding entrepreneurs and experienced Founders who use Initial Coin Offerings (ICOs) and cryptocurrency to power their companies and projects, former Zynga China Executive Producer Paddy Markham started CAPSL Entertainment in 2016. CAPSL is a gaming and eSports company that aims to provide a platform for fans to enjoy the experience through the use of Virtual/Augmented Reality (VR/AR) technology.
Markham chose to base CAPSL in Hong Kong due to it being ‘the heart and soul of the games industry’, as well as a premier location for budding entrepreneurs due to its large startup community.
Most Founders would immediately begin development and marketing in order to get their company out there as soon as possible, and to do so they would require funding or investments. This is where CAPSL differs. While Markham did consider traditional crowdfunding methods such as IPOs, he also recognized the potential and versatility of ICOs.
To Markham, the ICO is not just a way of fundraising, it is also a way of distributing tokens to users who will use them on CAPSL’s platform. Through these token sales, it will be possible for CAPSL to achieve its goals: allow users to connect to and view eSports in a way they were unable to previously, increase game studio growth, and help amateur competitive gamers to establish their careers.
The long-term goal of CAPSL is to introduce VR/AR technology to eSports. “VR is still a nascent market in terms of adoption,” Markham says. “However, a combination of home VR experiences and location-based experiences (LBEs) such as VR Arcades are set to change what consumers expect from immersive play. That obviously translates to competitive play, and we see the rise of a new generation of VR eSports stemming from that.”
By 2020, CAPSL expects there to be around five new VR-based eSports set up, and a healthy community surrounding each one. In order to achieve this, CAPSL plans to do three things with its platform: ensure that players will not be scammed and are able to securely monetize their gaming skills through smart contracts and blockchain technology, actively protect players through a decentralized player ID with complete ownership and control over it, and ensure that all virtual goods on the platform are minted with CAPSL’s tokens.
Currently, CAPSL is working on securing partners and launching the beta version of the platform. In the near future, you can anticipate the rise of an entire VR eSports industry – with CAPSL leading the crowd. capsl.cc
About Paddy Markham With 18 years’ product experience and having led Zynga’s China-based mobile studio of 50+ people, overseeing six globally recognized game titles – including Zynga’s first mid-core mobile title, War of the Fallen – Paddy started CAPSL Entertainment in 2016 with the vision to ignite the next generation of e-sports heroes. CAPSL is launching a revolutionary competitive gaming platform, merging eSports with blockchain-powered tournaments in AR & VR.