Chiliz Group acquires 51% stake in OG Esports

According to ChainCatcher news, the Chiliz Group has announced the acquisition of a 51% stake in OG Esports. Xavier Oswald will serve as CEO, while OG founders Johan "n0tail" Sundstein and Sébastien "Ceb" Debs will be responsible for new strategic projects, focusing on the integration of esports and Web3.

Founded in 2015, OG Esports has achieved consecutive championships in the Dota 2 International tournaments and has now expanded into multiple gaming fields. Its $OG fan token has reached a market value of $100 million, becoming the first fan token in the esports sector to surpass this scale. After the acquisition is completed, Socios.com will serve as the exclusive platform for the $OG token, expanding fan token functionalities into areas such as ticketing, merchandise, and digital content. Through the Chiliz Group's global partnership network, OG plans to expand into international markets and establish a more stable business model. Both parties stated that this collaboration aims to promote the development of the fan economy and apply blockchain technology to the esports industry.