The sports arm of Alibaba Group will launch multiple e-sports tournaments in collaboration with YuuZoo Corporation.
Alibaba Group Holding is expanded in several subsidiaries and its business is extensive. Almost everyone is familiar with the financial arm and the media arm of the company but Alibaba also has an infamous sports subsidiary known as Alibaba Sports Group (ASG).
Established in September 2015, it has been quiet and not making much news. It is never too late to get a big breakthrough. According to sources, the Singapore-based social networking firm, YuuZoo Corporation, has agreed a deal with Alibaba’s sports arm to the e-sports sector this year.
The deal suggests that Alibaba Sports Group collaborates with Yuuzoo Corporation that will launch multiple e-sports tournaments for various games and titles in the coming weeks. The tournament will be named AliSports World Electronic Sport Games (WESG), which will be the highest paying e-sports tournament in the world. The e-sports tournament will showcase Counter Strike: Global Offensive, Dota 2, Hearthstone, and Star Craft 2. It is expected to begin in April.
Being the world’s highest paying electronic sports tournament, the prize money for the winners is exceptional. Players who participate for the CS:GO and win will receive $1.5 million as winners and the same hefty cash prize will be awarded to the winners of Dota 2 as well. The winners of StarCraft 2 will get $400,000 for winning whereas $300,000 will be rewarded to the winners of Hearthstone.
YuuZoo Corporation said in a statement, “Through this deal, YuuZoo will gain a significant number of new users, who will be added to YuuZoo's fast-growing user base. Further, YuuZoo will generate additional revenue from promotional fees, advertising revenue, and e-commerce sales”. According to the agreement signed by both parties, the Chinese joint venture of YuuZoo, known as YuuGames, will receive millions of dollars in fees for this mega e-sports tournament.
Alibaba Group debut its sports division last year as it planned to improve its present in the markets other than e-commerce. The plan revolving around Alibaba Sports Group was ambitious. The company said in a statement that its sports division would be able to compete in different sports sectors such as copyrights, media, events and ticketing.
This move will help Alibaba in increasing its growth in the e-sports industry as well as the overall tech market. The famous games such as Counter Strike and Dota etc. have already led several event organizers to launch million dollar tournaments in the region.
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