It's been a busy first few weeks on the job at Mogul. Many acquaintances have asked, "what exactly is Mogul, anyway?". The answer to that question has already evolved in just a few short weeks, and as we quickly move to plan our global expansion, I'm excited to talk about who we are, what we're doing, and our unique proposition amidst the booming emerging industry that is esports.
In simplest terms, Mogul.gg is a tournament platform; a place for gamers to compete in cash and prize tournaments online. But Mogul is so much more than that. Publicly listed on the Australian Stock Exchange (ASX:ESH) with our largest strategic shareholder being Singapore-headquartered Razer Inc., Mogul has already delivered technology for the qualifiers of a USD $300,000 tournament powered by Singtel, and has just wrapped up an AUD $275,000 tournament series in the region which entailed the running of a mammoth 1500 tournaments in a single month. Achieving those successes are thanks to our market-leading tournament administration and automation tools developed over numerous years. Paired with our globally distributed tournament operations team, these combine to create unmatched efficiencies and an unrivaled quality of experience in this space.
Of course, there's much more in store in that regard. That kind of activity is set to continue locally and globally, with some big brands involved – we're looking forward to revealing more about these over the coming months. As exciting as running these kinds of events is, there are even larger opportunities on the horizon. To be clear, those opportunities don't relate merely to bespoke series and ad-hoc tournaments. Rather, those larger opportunities can be explained by outlining the plans that compliment attracting players directly. These plans are about how we support organisations around the world - teams, event organisers, leagues - by way of mutual financial benefit so they can do bigger and better things for their communities.
Mogul exists to support esports organisations as an economic accelerator for the entire industry.
Of even greater significance than providing players with the opportunity to compete in cash and prize tournaments at Mogul is our new commitment to the event organisers, league operators, and team organisations to whom those players are aligned. Mogul is poised to become an economic accelerator for esports, partnering with strategically important organisations to deliver new revenue streams to them. Mogul enables these organisers to run tournaments and community building activity that supports them financially, with brand new ways for them to engage their audience and grow it, providing novel opportunities for charitable events, as well as seeder series' to uncover the best new talent.
That's not where the support ends, however, these organisations will share in our success when bringing in their community, increasingly so as time continues. For every gamer that any of these organisations activates by way of referral to Mogul or participation on the platform, they'll build capital to help them do bigger and better things for their community. For ticketed tournaments that their referrals enter, they'll see further reward each time, in perpetuity. Adding to the money they make from Twitch streaming, from event prizes, and from sponsors, now they can make money simply by mobilising their community for active participation in addition to passive viewership. This model means organisers are incentivised to do more with more with people, which in turn creates more activity at Mogul, and drives success for everyone involved. These are just some of the mechanisms for mutual benefit devised, and more are in development as I write this.
Right now, this means bringing on more legendary teams like Legacy Esports, owned by the Adelaide Crows, to partner on cornerstone collaborations in each market we enter. Next, it means on-boarding influential grassroots bodies, and entire leagues. Later, it means opening the program underpinning such partnerships to any and every organisation who wishes to sign up to use our market-leading tech and create mutually beneficial outcomes together. It even means creating a referral system that financially incentivises every player for bringing their teammates and friends to Mogul and playing with them, further amplifying our generation of network effects.
Mogul will continue attracting new players directly and we’ll keep running big tournaments for brands, but these are not the only ways to generate activity. There’s another efficient way to garner the interest of the hundreds, thousands, or tens of thousands of gamers within each existing community of interest - and that’s to support those communities.
Everyone has the opportunity to have a share of Mogul’s success, literally.
The single most powerful way that we are creating alignment with organisations and individuals is be by giving them an opportunity to redeem an ownership stake in Mogul. Whether they're a streamer, a team, or a league organiser, everyone will have the option to convert revenue generated on the platform into equity. In doing so, we are moving towards a company that will become what is truly one owned by gamers, for gamers.
It’s great to be back in esports, but it’s not all fun and games - this industry is almost overnight very serious business. As someone who played with Australia’s top-ranked CS team almost 20 years ago, it’s clear in hindsight I was born 10 years too early for financial success as a player. Now, as an entrepreneur with 20 years in business experience instead, it’s clear to me that the time is right and that we have the opportunity to deliver competitive players the financial opportunity to truly go pro. We can do so in ways that everyone wins; in ways not possible in 2002.
Those who succeed in this emerging industry will not be the value extractors, but the value creators. That’s Mogul, and we couldn’t be more excited about the value we’re creating.