Late last week, small cap mobile gaming stock SPYR Inc (OTCQB: SPYR) announced big progress to turn its flagship game Pocket Starshipsinto a major force in the eSports market as the game now includes new player vs. player (PvP) features. Getting into eSports will be key for SPYR Inc as according to Newzoos 2017 Global Esports Market Reportreleased earlier this year:
The coming year will see theEsports Economygrow to $696 million, a year-on-year growth of 41.3%. Brands are expected to spend $517 million, broken down into $155 million on advertising, $266 million on sponsorship, and a further $95 million on media rights. Brand investment will double by 2020, pushing the total market to $1.5 billion. Consumer spending this year on tickets and merchandise will amount to $64 million. Another $116 million is invested by game publishers into the esports industry through partnership deals with white-label organizers.