- Chiliz Group has acquired a 51% controlling stake in OG Esports, a leading competitive gaming team.
- OG Esports released its fan token on the Socios.com platform in 2020, which recently reached a record price.
- The OG token became the first esports token to exceed a $100 million market cap and achieved a price high of $24.78.
- Chiliz announced new benefits for OG token holders and a forthcoming Web3-focused project.
- Socios.com will remain the exclusive platform for OG fan tokens, connecting digital assets with team merchandise and club revenues.
The Chiliz Group, which operates the Socios.com crypto fan token platform, acquired a controlling 51% stake in OG Esports. Founded in 2015 and known for its professional Dota 2 team, OG Esports expanded into multiple other gaming titles and has established itself in the competitive gaming industry.
The team launched its OG fan token on Socios.com in 2020. Following the announcement of the acquisition, the price of the OG token rose to $16.88, a 9% gain, and peaked at an all-time high of $24.78 in the week prior. According to Chiliz, the OG token became the first esports team token to surpass a $100 million market capitalization.
After the acquisition, Xavier Oswald will become CEO of OG Esports. Co-founders Johan “nOtail” Sundstein and Sébastien “Ceb” Debs will focus on a new project aimed at strengthening the team’s focus on competitive gaming and exploring innovation in Web3 technology. No additional details about this new project have been provided.
Chiliz CEO Alex Dreyfus stated, “Bringing OG into the Chiliz Group is a major step toward further strengthening fan experiences, one where the community doesn’t just watch from the sidelines but gets to shape the journey.” Dreyfus also commented on plans to align OG’s competitive accomplishments with on-chain value for fans, noting possible developments such as token-based governance, NFT ticketing, exclusive digital items, and new loyalty systems.
According to CoinGecko data, OG currently holds the largest market cap of any fan token listed on Socios.com, which also supports tokens for major sports teams like Juventus, FC Barcelona, Paris Saint-Germain, and UFC. Socios.com will continue to serve as the exclusive provider of OG fan tokens, integrating them further into the evolving fan economy that connects digital tokens to physical team assets and revenue streams.
Dreyfus said, “We’re still early in this partnership, but the goal is clear: to align OG’s competitive success with real, on-chain value for their global fanbase. This is where esports and Web3 can truly come together.”
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