Source: SportsHero
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • SportsHero (SPO) signs its first commercial agreement for China with Wuhan Monster Technology
  • The three-year, legally binding term sheet is with the commercial and operating arm of the Wuhan Esports Association, the second-largest gaming association in China
  • The parties have agreed that all revenue generated from all sources will be distributed evenly, including memberships, subscriptions, advertising and sponsorship
  • SportsHero says it’s now well positioned to benefit from the continued rapid revenue growth of the Chinese gaming sector
  • SportsHero pauses trading with shares last trading at 2.7 cents

SportsHero (SPO) has signed its first commercial agreement for China with Wuhan Monster Technology.

The three-year, legally binding term sheet is with the commercial and operating arm of the Wuhan Esports Association, the second-largest gaming association in China.

Through the contract, SportsHero’s app, including its artificial intelligence prediction competitions, will be promoted on WeChat to all of Wuhan Monster Tech’s (WMT) leagues, teams registered gamers and their existing and potential partners within the city of Wuhan and the greater Hubei region.

WeChat is amongst the world’s most popular apps with over one billion monthly active users.

Along with developing and operating the Chinese app, SportsHero will provide relevant tournament and registration management technology, including artificial intelligence predictors for esports on WeChat.

In return, WMT will promote, engage, and activate all its leagues, teams, registered gamers and promote SportsHero’s app amongst all existing and potential partners.

The parties have agreed all revenue generated from all sources will be distributed evenly, including the memberships, subscriptions, advertising and sponsorships.

SportsHero said it’s now well-positioned to benefit from the continued rapid revenue growth of the Chinese gaming sector, which is currently the largest esports gaming market in the world.

SportsHero has paused its trading with shares last trading at 2.7 cents.

SHO by the numbers
More From The Market Herald
Cavalier Resources (ASX:CVR) - Executive Technical Director, Daniel Tuffin

" Cavalier Resources (ASX:CVR) begins PFS at Crawford

Cavalier Resources (ASX:CVR) has begun a pre-feasibility study (PFS) at the Crawford Gold Project within the…
Ten Sixty Four (ASX:X64) - Outgoing Managing Director, Paul Ryan Welker

" Ten Sixty Four (ASX:X64) terminates services agreement of former MD, Paul Ryan Welker

Ten Sixty Four (ASX:X64) has terminated the executive services agreement of former Managing Director Paul Ryan…

" M3 Mining (ASX:M3M) identifies drill targets at Edjudina

M3 Mining (ASX:M3M) has identified prospective gold-in-soil anomalies at the Edjudina gold project 150 kilometres northeast…

" Good Drinks Australia (ASX:GDA) commences the sale of Molson Coors and Magners

Good Drinks Australia (ASX:GDA) begins to sell the Miller Chill, Miller Genuine Draught, Coors, Molson Canadian…