Chiliz Group has acquired a 51% controlling stake in OG, one of the most popular esports teams in the world, both parties announced on September 16th. Chiliz Group is a Malta-based company that is the blockchain provider for Socios.com, a platform that allows sports fans to buy and sell Fan Tokens.
The deal will see Xavier Oswald, former OG co-owner and Chief Revenue Officer, return to the organization as CEO. Oswald is no stranger to Socios.com, as he was OG’s CRO when OG first partnered with the platform in 2019.
Meanwhile, OG founders Johan “N0tail” Sundstein and Sébastien “Ceb” Debs launch “a new strategic project consolidating the team’s competitive foundation.”
As for the business implications, Socios.com will become the exclusive platform for $OG Fan Tokens, positioning it as a showcase for “blockchain-based utility.”
Alex Dreyfus, CEO and founder of Chiliz Group, and Xavier Oswald commented on what this acquisition means to OG via a press release:
Alex Dreyfus:
OG has always been about community and innovation, and since 2020 it has demonstrated that Fan Tokens can create genuine economic value and meaningful engagement.
With a $100 million fan token economy already established, OG represents the perfect case study for what’s truly possible when we place Fan Tokens at the centre of the fan economy. This acquisition allows us to showcase the next evolution – Fan Tokens 2.0.
Xavier Oswald:
This marks the start of a bold new era for OG. With Chiliz as our majority partner, we can scale our teams, grow our global community, and unlock a new dimension of engagement through the $OG Fan Token.
We’ve always believed that fans should be at the centre of everything we do, and now we have the tools and the backing to make that vision a reality.
Ceb and N0tail are also happy with the acquisition of OG. The Dota 2 pros agree that the acquisition will benefit OG, with the former going as far as to say that this “marks the beginning of a new competitive cycle” for OG.
OG, which was founded in 2015, became known worldwide after winning back-to-back Dota 2’s The International championships in 2018 and 2019. Since then, the organization has expanded into various games.
Nowadays, OG invests in Dota 2, CS2, Honor of Kings, Mobile Legends: Bang Bang, and EA Sports FC.
Feature image credit: © Chiliz Group/OG
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