By Faith Ashmore, Benzinga
After a tough year for the cryptocurrency market, after much anticipation the U.S. securities regulator approved the first U.S.-listed exchange-traded funds (ETFs) to track Bitcoin. This is a big move in the direction of institutionalizing cryptocurrencies as an asset class, one that can offer investors exposure to Bitcoin without directly holding it. One analyst shared that these ETFs could draw $50-$100 billion in 2024 alone. Companies in the space are seeing this as a major win for cryptocurrency, including ESE Entertainment (OTCQX: ENTEF) (TSXV: ESE), a leading global technology company that operates primarily in the gaming and esports industry.
In the gaming industry, ESE provides crucial technology solutions to video game developers, publishers and brands, and the company is actively involved in fan engagement services globally. It also operates its own e-commerce channels. Significantly for the company, earlier this year ESE announced a strategic partnership with Metapro, a blockchain company, which marks a significant step for ESE in expanding its technology services to blockchain and cryptocurrency companies.
Metapro has recently unveiled its all-in-one cryptocurrency wallet, designed to cater to the needs of gamers, developers and creators who wish to manage their cryptocurrencies across multiple blockchains. This mobile application acts as a non-custodial wallet, enabling users to store and transact with cryptocurrencies like Bitcoin, Ethereum, Solana and more, as well as tokens and metaverse assets.
Micha Bartczak, CEO of Metapro, shared, "2023 was a landmark year, and our work with ESE was pivotal in reaching these milestones. As we step into 2024, the cryptocurrency market has been growing fast and our focus is on developing and deploying new technologies. ESE has become a strategic partner with Metapro and we are excited to work together to enter new markets and execute on existing contracts and business globally."
Excitement surrounds ESE and Metapro as they look forward to capitalizing on this momentum. The newly formed partners plan to introduce innovative gaming activations to attract users and expand their presence into new regions, particularly Saudi Arabia and UAE, which are rapidly emerging markets in the gaming industry. Approximately 60% of the regions population considers themselves gaming enthusiasts, which is much higher than the global average of 40%. This expansion aligns perfectly with ESE's vision of growing its business and bringing diverse audiences together from all corners of the globe.
Konrad Wasiela, CEO of ESE shared his thoughts on the partnership, commenting, "We have been working diligently with Metapro over the last 12 months, and the timing is now right to execute on our expanded business partnership. 2024 has seen strong growth in the crypto market, specifically in the prices of Bitcoin, Ethereum, and now with large institutions launching ETFs like BlackRock's iShares Bitcoin Trust ($IBIT), which signals a large opportunity for our business. This strategic expansion is anticipated to enable us to serve an even broader array of clients, offering them innovative gaming experiences. ESE is committed to keeping the market informed about new developments in our partnership, underscoring our dedication to continual growth and innovation."
In the wake of the recent nod to Bitcoin ETFs from the SEC, this agreement marks an important step for ESE as it continues to strategically navigate its business operations and partnerships in the gaming industry to drive continued growth.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
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