On Demand Esports App One Up Announces Launch and $2 Million Raise
One Up, an esports startup that instantly connects video gamers around the world to play for real cash prizes, is in the midst of initially launching its on demand mobile application. It officially was released on the App Store for iOS devices in late September and instantly connects video gamers that want to compete for money on games that include NBA 2K, Madden, NHL, and FIFA.
Additionally, One Up will provide features such as fast matchmaking, the ability to invite and compete against friends, a rewards system with perks and incentives for reaching different milestones and a tracking system that informs users of their real-time earnings providing instant payouts through a current selection of four options. Systems currently supported by One Up include Xbox One and PS4.
“There are approximately 1.2 billion esports gamers around the world who invest a lot of time and money on video games, but currently do not have a way to monetize their skills into profitable opportunities,” says One Up founder Brandon Pitts. “Our fundamental goal and mission is to provide a simple, safe and secure way for gamers to earn income every single time they play a video game, with the click of a button.”
The launch of One Up’s mobile application coincides with the company’s closing of a $2 million seed round led by Boston-based Three Curve Capital.
“With the rise of esports, I’ve seen unparalleled year-over-year growth across viewership, advertising revenue and total hours played,” says Stu Porter, One Up’s Chief Operating Officer. “To me, this indicates that the demand for competition has never been higher. That is why One Up is on a mission to make playing video games for money as simple and entertaining as possible.”
Market intelligence firm NewZoo predicts, as of August 2018, that the global games market will generate $180.1 billion in revenues by 2021, with esports being a major source for same. It believes that esports will generate more revenue than rugby within the next three years. One Up’s strategy is to leverage the continued growth in esports by offering a valuable service at no charge with its free iOS application. It will take a small commission from each transaction in order to drive its sole stream of revenue.