Esports platform GEMS announced a $50 million investment commitment from Bahamian digital asset firm GEM Digital Limited (no connection). According to the company, these new funds will help further enhance GEMS products and expand globally, with a primary focus in Asia.
“We are honored to sign the $50 million Investment Commitment agreement with the GEM,” said Andy Koh, CEO of GEMS. “This agreement with GEM notably positions us for our next stage of development as we continuously innovate and evolve our products. GEM’s capital commitment provides strong support to future development and expansion of our platform, especially in Asia. Part of the capital will be used to fund user acquisition.”
In addition to receiving their $50 million investment, GEMS also raised another $7.46 million through its latest token raise.
GEMS currently has over 80 blockchain and esports companies as partners, which has helped boost their reputation as one of the top launchpads in the world.
(All information was provided by Cision PR Newswire)