Mukesh Ambani makes BIG move, teams up with BLAST to expand...

Mukesh Ambani, the richest man in Asia, has entered into a strategic partnership with one of the biggest tournament organisers in the world. Reliance Industries' wholly-owned subsidiary RISE Worldwide teamed up with BLAST Esports to form a joint venture to conduct esports business in India, according to a joint statement. Reliance and BLAST will partner to develop market-leading Intellectual Properties (IPs) in India. The duo will also introduce BLAST's global IPs to the Indian market for fans, players, and brands, the statement added. "The JV's (joint venture) ambition is to attract top tier titles and events in the future," it said.

BLAST is a wholly-owned subsidiary of Denmark-based BLAST ApS. It works with the world's biggest game publishers, including Epic Games, Valve, Riot Games, KRAFTON, and Ubisoft, to create leading global esports properties. India is the fastest growing gaming market with a massive gamer base of more than 600 million, which is 18 per cent of the total gamers globally. India's esports market is in the nascent stage and is expected to be a high-growth market. The government of India has officially recognised esports in the country by declaring it a part of the "multi-sports event" category.

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The new JV entity will bring together BLAST's esports media production expertise, publisher relationships, wide suite of highly popular IPs, and Jio's technology expertise, unparalleled distribution reach, and local relationships to host these events on the JioGames platform for sustainable growth and innovation in the industry, it said. Moreover, Ambani-led Reliance Industries is India's largest private-sector company, with a consolidated revenue of USD 119.9 billion. Its operations span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables, retail and digital services.

(With inputs from PTI)