SportsHero (ASX:SHO) has completed the acquisition of Singapore-based SportsHero business and has closed an oversubscribed share offer, raising a total of $3,202,000 at $0.05 per share.
SportsHero is a gamified social sports prediction platform where users can predict, interact and compete on all major sports.
ASX-listed Nevada Iron changed to SportsHero last month after finalising the deal with Singapore-based SportsHero to shift to the fantasy sports app business.
Nevada had earlier been focused on the development of the Buena Vista Iron Project located in northern Nevada, U.S.
The company has finalised the sale of the Buena Vista project.
SportsHero has also appointed Dinesh Bhatia as the company’s chief executive officer.
Bhatia is co-founder of MyHero which released TradeHero, a gamified approach to stock trading which allows anyone to monetise through their ranked trader performance.
The eSports market was valued at US$463 million in 2016 and forecast to reach US$1.1 billion by 2019, with males making up a large demographic.
SportsHero is well funded with a cash balance of circa $2.27 million as at 31 December 2016.