The Emerge Gaming Ltd (ASX: EM1) share price is up this morning on subscription wins for a new gaming platform.
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Small cap ASX shares in the e-sports sector have made significant progress in the development of respective e-sports media, software and tournament products. This has seen the likes of Emerge Gaming Ltd (ASX: EM1) and Esports Mogul Ltd (ASX: ESH) deliver triple digit returns in recent months.
Today, the company announced a significant milestone for pre-registrations for its MIGGSTER platform. The Emerge Gaming share price rocketed up 12.5% to 16 cents in early trade and has since retreated to 12 cents, up 4.17% at the time of writing.
A new mobile gaming platform
MIGGSTER Mobile is a mobile casual e-sports platform that uses Emerge’s proprietary e-sports tournament platform technology. The platform will offer avid mobile gamers the opportunity to turn hours of entertaining mobile gaming into prizes and rewards. All while competing against the community and sharing their success with gaming friends.
The revenue proposition for MIGGSTER Mobile is that it will be offered as a subscription service,with users paying US$8.50 per month. From a consumer perspective, subscribers can enter into tournaments involving their favourite mobile social games, using their leisure time to earn rewards, win prizes and participate in a minimum aggregate prize pool of US$500,000.
The planned launch will invite subscribers to sign up to the MIGGSTER Mobile platform on tiered subscription packages. These include bi-annual packages of US$51.00 and discounted annual packages.
Why the Emerge Gaming share price is up today
The company recorded 3 million user pre-registrations on 19 October 2020. Today, the company added a further 3 million user pre-registrations. The strong user interest and continuing strong momentum is likely to be the catalyst for the Emerge Gaming share price jump today.
MIGGSTER is currently promoted to a network of more than 14 million affiliate members across 150 countries. Its promotion is creating much needed awareness and interest for a highly anticipated MIGGSTER Mobile product launch in November 2020.
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Motley Fool contributor Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.