Wamba Technologies Receives 1 Million Dollars in Funding for eSports Platform

Wamba Technologies announced that they have received funding of just under $1 Million dollars from private investors. Wamba Technologies will utilize the funds to further development of their eSports platform and anticipates a beta release by the end of 2018.

Phoenix, United States – January 30, 2018 /NewsNetwork/ —

Wamba Technologies has conceptualized a new eSports platform which is being designed by Andy Ashcraft (God of War 2, Disney’s Cars 2, Warhawk, Grand Turismo 4, Tron: Legacy and more), Gary Denham (CEO of Wamba Technologies), and with assistance from Brian Upton (Tom Clancy: Rainbow Six, Tom Clancy: Ghost Recon).

Wamba Technologies announced that they have received funding of just under $1 Million dollars from private investors. Utilizing the funds to further the development of their eSports platform, CEO Gary Denham sees a bright future for the eSports industry. While Wamba Technologies is keeping most of their eSports product features confidential for the time being, at the core of their business model is a desire to meet the needs and demands of the average casual gamer, not just the professionals.

CEO Gary Denham said, “In 2016, online eSports generated less than $1 Billion in revenue. When you have a video game industry that, according to some analysts, has around 2.6 billion participants, and generates less than $1 Billion in gross total revenue from the professional side of that industry online, my only question is: ‘who on earth screwed up?’. There is just no good excuse for those dismal numbers. The players are there. The demand is overwhelming. Why does it look like Activision and EA Sports screwed this up? What went so horribly wrong?”

Denham continued, “Fifteen percent of Americans like to put up money on a consistently regular basis for various games featuring cash prizes if they believe they can win money back. For them to do so requires confidence in their ability to win and trust that the game will be fair. Presently, both Activision and EA Sports appear to have really missed the mark in presenting the casual game player with eSports games featuring these two components. Instead, they gear their eSports platforms toward the diehard professional gamers. The problem with this is that the average American cannot compete with that high caliber player and has virtually no chance of winning money if they try…and they know it!

The issue with this is that the overwhelming majority of online gamers are casual players, not paying eSports competitors. By catering to the very small number of “professional” eSports players, we feel that EA and Activision have really missed the much larger market who, if given the right environment, would likely convert into paying eSports competitors. In our opinion, that larger market is far more lucrative if we can gain their trust and confidence. If the online portion of this industry is going to virally explode and cross into the range of tens of Billions of dollars in annual revenue, it is crucial to gain the trust and confidence of the casual gamers to get them converted into eSports competitors.

Aside from a surprisingly large percentage of matches with unevenly paired players (based on skill level), another issue which we feel has not been properly addressed is cheating. Right now, to the best of my knowledge, there are no other eSports platforms with anti-cheating measures comparable to what we are building into our platform. Without going into specifics, I can state with absolute certainty that it would be tremendously difficult and laborious to even attempt to cheat when playing on our platform.

When the average player is offered a chance to compete with other players of a similar skill level, and any significant money is involved in the competition, then cheating can occur. Cheating can sour a player against eSports permanently. Due to these issues, the casual players tend to stay away from eSports.

We believe that by addressing problems such as fair matchups, cheating, and a host of other peripheral issues in a single piece of software, we will instill a lot of confidence and trust in the players who will be using our platform. We feel that this confidence and trust will lead to a higher rate of conversion at a faster pace from casual gamers to paying eSports competitors, effectively growing the eSports industry in a significantly shorter timeframe.”

Wamba Technologies has used the funds received to put key project leaders and teams in place:

– Andy Ashcraft as Chief Designer for the eSports platform

– Brian Upton as an eSports platform consultant

– Joe Bagdon as Chief Security Officer (formerly security project lead for the US Military Intelligence, security consult for IBM, Chief Security Officer for Rally Software, lead security software development engineer for Fidelity, and more).

– 8 person development team to build the eSports platform

– Programmers, graphic artists, and animators for Triple A video game design and development

– 20 contractors working on the various projects

Wamba Technologies platform is currently under construction and is anticipated to see a beta release by the end of 2018. For more information, click here.

(Press Release Reissued Due to Missing Words)

Contact Info:
Name: Ben Willardson
Organization: Wamba Technologies
Address: 5800 North 19th Avenue, Suite 204, Phoenix, AZ 85015, United States
Phone: +1-801-857-4778

Source: NewsNetwork

Release ID: 293720