Blue Star Capital , a holding company with a focus on new technologies in payments, media and gaming, issued an update on its 13%-owned investee company Dynasty Gaming & Media.
Dynasty advised that its recently completed US$3m fundraise, combined with material cost reductions and its move from technology supplier to operator (B2C), should fund it to breakeven with free cash flow generation by “no later than July 2024”. Additionally, Dynasty announced a proposed merger with Googly Media, another Blue Star investee company.
Dynasty says it has built the “the leading and most comprehensive gaming/esports platform globally”, incorporating a wide range of features, licences and accreditations in one product. The technology is powered by an enterprise-grade esports tournament engine, endorsed by major international games publishers including Riot, Activision and Supercell.
The esports platform and gaming shop supports international pro esports tournaments for both PC and Mobile, optimised for “mobile first” markets like India. Dynasty says the platform can deliver and launch a fully-branded and fully functional partner platform within only 4 weeks. This has been enabled by a single code cloud-based code structure.
The platform features a payment wallet, subscription engine, and digital voucher and top-up shop. A new User Generated Tournament (UGT) engine also allows users to create entry fee and prize pool tournaments, sharing in platform monetisation – this feature is patent pending.
Following the pivot to B2C, Dynasty now has live platforms in several key markets including Googly in India, Lets Play Live in Australia and New Zealand, and Paidia Gaming in North America. Dynasty also announced an impending launch in the Philippines, expected in early December 2023.
As Dynasty has worked closely with Googly over the past 12 months on opportunities in India, and with prospects of extending the partnership into other markets, the boards of the two companies are considering an equal merger. Further details will be disclosed as the transaction develops, with shareholder approval expected before end of 2023. Blue Star has a 13% interest in Dynasty and 0.6% interest in Googly.