Esports is the most exciting and fastest growing competitive sports around the world today.
It is expected to exceed US$1 billion for the first time in 2019, growing to US$1.1 billion
with an estimated global audience of 453.8 million people.
In December 2019, the Olympic Summit announced it saw great potential in esports as many sports simulations are becoming more physical due to the advancement of virtual and augmented reality; and urged the International Federations to consider how to incorporate them into the sports movement.
Esports has reached yet another defining watershed with the official worldwide launch of the Global Esports Federation (GEF), the first-ever global governing body for the esports ecosystem of athletes, sports organisations, commercial partners, and other constituents, guided by the values of sport and the principle of harnessing technology and innovation for good.
At the worldwide launch, the Global Esports Federation (GEF) also signed an agreement with
Founding Global Partner, Tencent a leading provider of Internet value-added services in China.
Mr Edward Cheng, Vice President of Tencent, reiterated the company’s commitment at the signing: “With our collective effort, I believe esports will unleash the unlimited possibilities of sports in the Digital Age. On the path to building a community with a shared future for mankind, esports will shine!”
A diverse Board of world-class experts from esports, sports, corporate governance, technology,
and business spearheads the Global Esports Federation.
The Board is led by Mr Chris Chan (Secretary General of the Singapore National Olympic Council and Vice President (Asia) for the Commonwealth Games Federation) as its President. He is supported by three Vice Presidents - Mr Edward Cheng, Vice President, Tencent; Ms Charmaine Crooks, a five-time Olympian; and Mr Wei Jizhong, Honorary Life Vice President on the Olympic Council of Asia; together with other Board Members and two advisors to the Board.
The Global Esports Federation has laid out its first five initial objectives going into 2020 as follows,
including the exciting plan to create and launch the annual flagship Global Esports Games in 2020.
Watch the space!
1. Encourage and support the establishment of National Esports Federations with a set of relevant standards, guidelines, and regulations; 2. Establish an athlete commission, with a focus on athlete well-being, development of standards for fair play, career support, and education to ensure safe, doping free, and ethically compliant practices; 3. Convene and stage esports competitions, conventions, fora, and development programmes; 4. Development of world class governance structures and guidelines for the Global Esports Federation; and; 5. Create, develop, and stage the annual flagship Global Esports Games, with the first Games to be staged in 2020.