Weyland Tech Advances Joint Venture with eSports Company to Provide Payment Platform for Fan Specific Goods and Services
HONG KONG–(Marketwired – Nov 9, 2017) – Weyland Tech, Inc. (OTCQX: WEYL) (“Weyland” or “Company”), a provider of mobile business applications, announced today that its joint venture discussions with FuntaseSports Entertainment (“Funtase”), a leading provider of eSports content and fantasy sports games in South Korea, are making significant progress and the companies have reached terms for cooperation.
“As I’ve said recently, eSports is an exciting growing part of the digital economy that presents huge opportunities for Weyland. Esports revenues are expected to grow to $1.5 Billion in the next three years. Partnering with Funtase is going to give our CreateApp platform access to a market that is rapidly growing and barely even existed 10 years ago,” commented Weyland CEO Brent Suen announcing the news.
“The preliminary terms we are finalizing with Funtase, will give us an early edge in providing the ‘picks and shovels’ for eSports related m-commerce consistent with our vision for the CreateApp platform. In our view the various leagues, teams, and players will be the SMB’s in this marketplace and with limited modifications we can provide the benefits of CreateApp to them in a similar fashion to our offerings to SMB’s in other markets.”
“Funtase has agreed to provide us access to their data on those market participants as part of a cross platform marketing strategy. That is a huge win, because we will not need to spend time identifying all the games, leagues, teams, and players. Instead we will be able to focus on providing these eSports market participants with the ability to reach their customers — fans and sponsors — with information and merchandise through the CreateApp platform. As AtoZPay comes online, we will also be able to provide a payments platform for those goods and services, generating additional user revenue.”
Funtase’s CEO, Jerome Park, commented “Weyland is well positioned to enter the eSports market as their user base is highly complementary to eSports with similar demographic profiles. Both of our companies are focused on a young demographic that is mobile-native and mobile-first, in a very complementary way.”
“The companies are also discussing Weyland’s ability to provide digital payments capabilities for the Funtase platform directly, which we will provide updates on as progress is made,” concluded Mr. Suen.
Weyland and Funtase are also exploring near term opportunities for deploying Funtase’s platform to Weyland’s CreateApp users as a ‘white-label’ app that enables daily fantasy sports for a new, younger eSports audience on a gamified platform that will differ radically from the current draft fantasy sport market offerings.
Funtase provides gamified daily fantasy draft games for the mobile and PC platforms in the Asia market based around several of the world’s leading eSports titles. Funtase and Weyland are also in discussions to provide their offerings for the non-Asia international markets.
About FuntaseSports Entertainment
Funtase was founded in early 2017 in Seoul, Korea and is made of games industry veterans from Nexon, Neople, and eBay. The platform is currently in alpha stage and planning its beta launch in the summer 2018.
About Weyland Tech Inc.
Weyland Tech’s CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 12 languages, enables small and medium sized businesses (“SMB’s”) to create native mobile applications (“APP”) for Apple’s iOS and Google Android without technical knowledge or background. Empowering SMB’s to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
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