Blue Star's Googly teams up with Caribbean Premier Cricket League for esports venture
() , a holding company with a focus on esports and payments, noted a recent announcement by investee Googly Media Holdings to launch a new E-sports Caribbean Premier League (ECPL) in partnership with Caribbean Premier Cricket League.
Googly is an India-based esports and gaming platform, and Caribbean Premier League (CPL) is a major sporting league, drawing over 720 million annual viewers for its T20 cricket competition.
In this year's Caribbean Premier League tournament commencing on August 16th, fans will have the opportunity to engage in the ECPL on Googly, enabling them to represent their preferred teams. The ECPL will span 7 weeks and 3 stages, and feature a US$25,000 prize pool.
Each CPL team will hold open qualifiers on Googly's platform to discover their mobile esports representatives. The CPL teams are the Barbados Royals, Guyana Amazon Warriors, Jamaica Tallawahs, St Kitts & Nevis Patriots, Saint Lucia Kings, and Trinbago Knight Riders.
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More good news from Blue Star's growing esports portfolio, while the partnership with Caribbean Premier League should be a major launch pad for Googly in the rapidly growing Indian esports market. Googly is a Blue Star investee and business partner of Blue Star's portfolio company Dynasty Gaming and Media with whom it shares 50% of profits. Blue Star currently holds a 0.6% interest in Googly.
It should be noted that one of the supporting partners of the inaugural ECPL on Googly is Nextwave Multimedia - publishers of World Cricket Championship, which is the official game of the ECPL with 80 million downloads.
Tying esports leagues to "real-world" sporting competitions has been a growing trend in the industry and a winning strategy for Blue Star's esports ventures. Most recently, Blue Star's Guild Esports entered the fast-growing world of sim racing with its participation in the British F4 Esports Championship, after signing a partnership with Fanatec for a new Sim Racing Facility.
Blue Star's investment in aforementioned gaming company Dynasty has also proven a major success. To date, Blue Star has invested £968k in Dynasty, and based on Dynasty's last valuation of US$50m, Blue Star's holding is now valued at £5.4m.
Overall, the value of Blue Star's quoted portfolio held on 31 March was approximately £147k. 's NAV per share as of 31 March was 0.2p, compared to its current share price of 0.12p. This represents an attractive entry point, especially in light of the upcoming 3rd party valuation process for SatoshiPay - Blue Star's other major investment - that is expected to reveal a significant increase in valuation before end of 2023.
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