Thirty Five Ventures has partnered with Andbox, a premier New York esports organization. The move hopes to capitalize on New York’s large market for media-driven entertainment.
Thirty Five Ventures is a business portfolio owned by former NBA MVP Kevin Durant and his manager, Rich Kleinman. According to Business Insider, Durant, who currently plays for the Brooklyn Nets, plans to work with Andbox on several initiatives. Meanwhile, Andbox hopes to showcase and amplify its esports franchises to a mainstream audience.
Farzam Kamel is the co-founder and president of Andbox. He recently spoke to Business Insider about the deal. “There hasn’t been an offline experience in New York when it comes to esports, a place to congregate and meet like-minded people and attend events. That was a big part of early fandom that we saw,” said Kamel. “An organization like us is bringing investment into the ecosystem here. We’re getting sophisticated capital that’s investing in all the different touchpoints that consumers want in the medium — events, consumer and digital products, content, things that are new to the audience here and create a much more rich and meaningful connection between fans and esports brands.”
The Profit‘s Take:
It’s no secret that Andbox has been trying to raise money for months now. It’s also no secret that virtually every investor turned them away, given the poor management, lack of any tangible results, no ownership of the NY market, and an apparel strategy that is confusing at best (who wants to wear Andbox hoodies?). Maybe Kevin Durant is the savior they need. Clearly his money will keep their business afloat for a while longer. But unless he has a major impact and they fundamentally change their management team and how they operate, Andbox is destined for the failure bin.
(All information was provided by Business Insider)