EXCLUSIVE: Staking On Esports Talent - 1v1Me's Innovative Approach Gains Traction In Gaming Community (UPDATED)

Editor's Note: This article has been updated to more accurately reflect 1v1Me's service as "staking" rather than "betting." 

In the dynamic world of esports, 1v1Me has emerged as a distinctive platform that is transforming competitive gaming and providing opportunities for players to monetize their skills.

Founded by engineers Anthony Geranio and Alexander Emmanuel, this platform goes beyond the conventional esports model, fostering a community-driven ecosystem where gamers can showcase their abilities while fans have the option to place bets on their preferred players. With its innovative approach and potential to reshape the industry, 1v1Me has garnered significant attention in the esports sphere, hosting over 250,000 users.

In an exclusive interview with Benzinga, Geranio revealed the inspiration behind the platform's creation. "When COVID hit, my co-founder and I wanted to start a company together. We noticed that while traditional sports were put on hold, there was a surge in people playing video games. It was during that time when I joined a Call of Duty lobby where players were competing for thousands of dollars. This experience sparked the idea of creating a platform that would enable gamers to compete against each other for money."

See Also: What Are Esports And Where Is The Industry Going? Everything You Need To Know

The vision behind 1v1Me went beyond traditional revenue streams in esports. Anthony explained: "We wanted to help all gamers make a living from their passion for gaming, whether they were highly skilled players or enthusiastic fans. Our goal was to create an additional revenue stream beyond content creation or competitive gaming. That's how 1v1Me came to be—a platform where players could engage in head-to-head video game competitions for money."

A Unique Staking Experience

1v1Me distinguishes itself from other esports platforms through its exceptional staking functionality. "We are the only platform that allows fans to wager on someone else's performance in a game," Geranio highlighted. 1V1Me also possesses a verified roster of players available for staking, while offering an opportunity for anyone to sign up and compete. Unlike competing platforms, 1v1Me doesn't impose fees for head-to-head competitions. Instead, their revenue is derived from the wagers made by fans on other players.

"For every dollar wagered on someone else, we retain a 10% cut. This allows us to sustain the platform and support both players and fans on their gaming journey," Geranio said.

Currently catering to games like Electronic Arts Inc.'s "NBA 2K23" and "Madden," 1v1Me has plans to broaden its offerings to include popular titles such as "UFC," "MLB," and Epic Games' "Fortnite" in the near future.

The platform's user-friendly interface and community-focused approach have been pivotal to its success. In terms of demographics, 1v1Me is primarily focused on the United States market, and its user base mainly consists of males aged 18 to 24.

See Also: Esports Betting: Which Games Are People Wagering On? New Report May Surprise You

Driving Success: Achieving Milestones And Attracting Investors

The CEO compared 1v1Me to "a Robin Hood for esports" and identified some of its achievements, like having a 4.8-star rating in the App Store and garnering a thriving community of gamers, with over 250,000 followers on TikTok. "We go beyond being a mere tournament or wagering platform; we deeply engage with the gaming community and strive to offer a seamless experience through our platform."

1v1Me has already achieved significant milestones in terms of funding. Prominent figures such as Anthony "Pomp" Pompliano, known for his expertise in blockchain and cryptocurrency, have recognized the platform's potential. Other notable investors include Bettor Capital, Village Global, Valhalla Ventures, and individuals like Ian Borthwick and Austin Rief. In addition, 1v1Me has support from notable esports competitors such as NoisyButters and JGod.

"To date, we have raised $4 million, and we plan to raise a Series A funding round later this year to further accelerate our growth and expand our operations," Geranio revealed.

The Future Of The Esports Industry

In the face of recent challenges in the esports industry, such as the scarcity of investors and layoffs (for example, two of the most valuable esports organizations according to Forbes - Team SoloMid and 100 Thieves - have recently made staff cuts that amount to dozens of positions in total), Geranio expressed optimism.

1V1Me’s CEO believes that esports has the potential to become as prominent as traditional sports. "As the current generation of young gamers grows up, esports will naturally expand. When these kids grow older, they might look up to esports stars like Ninja instead of traditional athletes like LeBron James."

Geranio highlighted the advantages of being a platform rather than a team in the current esports scenario. "During COVID, many professional gaming teams raised significant amounts of money but struggled to demonstrate their revenue-generating capabilities. In contrast, 1v1Me is a platform that offers a complete system."

"We control the platform, the advertising opportunities, and provide technology for users to make money. This positions us well to capitalize on investor interest in the esports space," he added.

See Also: Could The Hype Around eSports Be Fading? Find Out Why Some Experts Think So

To learn more about 1v1Me, visit their website here.

Image courtesy: 1V1Me