Fandom Sports secures exclusive rights of esports platform DataBioniX

Fandom Sports Media Corp. announced that it has entered into a definitive license agreement with Intellect Dynamics for its DataBioniX platform.

Intellect Dynamics is a firm that specializes in the development of technology solutions and services focusing on real-time analytics, artificial intelligence, business process automation, and decision support.

The license agreement provides for the exclusive use of the platform for wagering and predictions and is a critical component of the company’s Unified Information Access (UIA) platform and its application to esports, sports, and streamed content. 

The CEO and President at Fandoms Sports Media David Vinokurov, said: “After connecting our APIs to the top game publishers, we quickly saw a differentiating advantage emerge relative to our peers in the number of predictions/wagers we could generate, the dynamic statistical system reconciliation, the modular applications of various data presentations, and the deep analytics which we could use for intelligent analysis. Through the course of product demonstrations to 3rd party vendors and industry participants across both Esports and Sports wagering, the conversation always steered towards the inevitable - How can we apply these capabilities to our business, and can we get a license? I’m proud to say that Fandom Sports is now in the position to be a solutions provider to Esports, Gaming, Sports, and Streaming industries for predictive data capabilities. We are excited to put the cornerstones in place for the long-term success of our business together with our friends and partners at Intellect Dynamics.”

The CEO of Intellect Dynamics and Chief Strategy Officer of Fandom Sports Christian Gravel, commented: “This is the first time that Intellect Dynamics has granted an exclusive use industry license for the DatabioniXTM platform. Our experience in health care, facilities management, supply chain logistics, insurance, and telecom deployments has shown us the impact that the DatabioniXTM platform has had on mission-critical, data-intensive, and security-focused industries. We are eager to make a transformative impact across the industries covered under the terms of this agreement with Fandom Sports. Furthermore, we are thrilled to be able to share and participate in the success of Fandom Sports, both as active management and shareholders of the Company.”

Vinokurov added: “We are fortunate to have Intellect Dynamics as a cornerstone investor and to have all of our long-term interests aligned. Having recently completed the installation of our own server infrastructure, securing the IP has been our next critical item of business in advance of the launch of our wagering and all-ages Esports prediction platforms. Most importantly, we can commence the development of interfaces that will expand our reach beyond professional Esports to streamed and broadcasted gaming and sports content. I’m very proud to say that Fandom Sports is a unique platform in the industries it operates and will operate in. We’re even more excited to deploy the innovative NFT rewards solution that our development team is working on. What you see now is just the tip of the iceberg and we have a robust development pipeline that continues to evolve and grow.”

On August 4, 2020, the Company entered into a Letter of Intent (LOI) with Intellect Dynamics, which originally envisioned a single-use, non-exclusive license for deployment for Esports wagering and predictions. Since that time, Fandom Sports’ management has secured the exclusive rights to use the UIA platform for deployment for esports wagering and predictions, sports wagering and predictions, and programmed television and streaming.

According to the Gambling Global Market report of 2021, regarding COVID-19’s impact and recovery to 2030, the global gambling market is expected to grow from $465.76 billion in 2020 to $516.03 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%. The market is expected to reach $674.7 billion in 2025 at a CAGR of 7%. 

Fandom Sports is now positioned to enter into this lucrative market as a market participant and technology provider to change the way that data is presented and transacted upon in this multi-hundred-billion-dollar industry, the company said in a press release.  

Under the terms of the License, Fandom Sports has the option to pay licensing fees and maintenance and support costs to Intellect Dynamics in cash or through the issuance of common shares based on a price of $0.30 per share or the 20 days weighted average trading price of the common shares of Fandom Sports for the period leading up to the due date for such payment. 

Initial payments of $1,375,000 due to Intellect Dynamics under the License will be paid through the issuance of 4,583,333 common shares at a price of $0.30 per share, which is a premium to the close of trading on Wednesday, May 19. 

Shares issuable under the License will be subject to resale restrictions under applicable securities laws as well as any required stock exchange or securities regulatory consents or approvals.