ESE Announces Major Expansion with Launch of Digital Motorsports Business, Virtual Pitstop
VANCOUVER, British Columbia, March 17, 2021 (GLOBE NEWSWIRE) — ESE Entertainment Inc. (TSXV: ESE) (OTCQB: ENTEF) (the “Company” or “ESE”) is excited to announce that it has launched Virtual Pitstop, a new business unit dedicated to simulation racing (“sim racing”). Virtual Pitstop will provide technology for video game developers, racing fans, and gamers to engage in motorsport related esports across the globe.
Some of the highlights of the Virtual Pitstop will include the following:Precise design of cars and tracks using 3D laser scanning technology.Development of 3D models of real-life racetracks, which can be implemented into video games.Development of virtual reality (VR) and augmented reality (AR) content.Research and development into non-fungible tokens (NFTs) applied to sim racing.Creation of animations, skins, visualizations for promotional or architectural purposes.Organization and execution of international digital motorsport events.The business unit will build on ESE’s existing client base and generate new revenue streams, and the Company is confident it will secure ESE’s position as one of the leading esports companies in the sim racing space.Sim racing is one of the fastest growing esports and has been supported by the International Automobile Federation (FIA) for over two years. FIA reinforces sim racing by endorsing esports competitions, cooperating with game publishers and encouraging local organisations to explore the esports side of racing. A ground-breaking decision was made by FIA to officially recognize digital racing as one of the disciplines in which the Federation’s members can run virtual tournaments of the country’s Championship, under the formal name of Digital Motorsport.Konrad Wasiela, CEO of ESE commented, “We are excited to announce the expansion of our digital Motorsport business with the launch of the Virtual Pitstop brand. Our past successful partnerships and business collaborations with Porsche, Kia, and Orlen are just the beginning. With overwhelming positive feedback from our clients, we have decided to double down on technology and to scale this business unit significantly in 2021. We see a significant opportunity to implement fast growing technology and monetization via AR/VR, NFTs, skins, and more. The digital motorsport sector continues to grow around the world, and we are thrilled to be a become a key part of that growth.”“Professional drivers have been using racing simulators in their training routine for a long time. Now, esports has become a discipline in the Polish Automobile and Motorcycle Federation. We are thrilled to be able to cooperate with a top esports company such as ESE that was a vital part in the very first edition of Polish Digital Motorsport Championship sponsored by automotive legend, Porsche,” says Michał Sikora, the President of Polish Automobile and Motorcycle Federation.Virtual Pitstop is now offering comprehensive technology and services in sim racing. The website with more information can be viewed at www.virtualpitstop.gg.About ESE
ESE is a Europe based entertainment and technology company focused on gaming, particularly on esports. ESE consists of multiple assets and world-class operators in the gaming and esports industries. Capabilities include physical infrastructure, broadcasting, global distribution for gaming and esports-related content, advertising, sponsorship support, and a growing esports team franchise, K1CK Esports. ESE is focused on bridging Europe, Asia and North America. | www.ese.ggForward-Looking Statements
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that ESE anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements with respect to (i) the launch of the Virtual Pitstop; (ii) the anticipated features and offerings of the Virtual Pitstop; (iii) the anticipated revenue streams created by Virtual Pitstop; (iv) the anticipated growth of the sim racing market, and ESE’s position within it. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of ESE to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Among other things, there can be no assurance that the Transaction will be completed or that the anticipated benefits from the Transaction will be achieved. Such factors may be based on information currently available to ESE, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the securities of ESE should be considered highly speculative.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.SOURCE ESE Entertainment Inc.
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