The gaming business is largely dominated by China and the US, two of the most powerful nations in the globe. The US is also seen as being economically strong in all industries.
The peculiar assertion made by several media publications is that the hype around the US eSports industry is waning. Let’s examine those elements in greater detail:
As a result of the general economic downturn, most organizations in the country are currently contracting. Additionally, the industry operates in venture capital mode and is heavily reliant on profits and cryptocurrencies, which are ultimately collapsing because these two elements were seen as essential in terms of backing.
2. The Evil Geniuses disbanded their North American team and completely relocated their operations to South America, making them one of the oldest Esports organizations.
3. Ben Spoont, the founder and CEO of Misfits Gaming Group, sold the company’s right to enter a team in the League of Legends European Championship in July, saying, “We have been operating our esports teams at a loss since conception.” I had anticipated seeing enough evidence by 2022 to state, “We are there” or “We’ll get there in the next year or two.”
4. FaZE Clan, a company recognised for esports gaming personalities and professionals, went public via SPAC in July. However, its stock subsequently fell by roughly 80%, signalling the decline of esports.
5. According to data compiled by Esports charts, League of Legends Championship Series viewing is at a five-year low. As a result, broadcasting and viewership arrangements, which are becoming less prevalent for US and European esports leagues, have been impacted.
