OVC's e-sports firm to be future star
Wuhan Xingjing Weiwu Culture and Sports is a comprehensive e-sports service provider based in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), consisting of the "eStar e-sports club", "V5 e-sports club", "MAG Studio" and "eStar Entertainment".
The company was founded on an agreement between its two founders – He Youjun (founder of the V5 e-sports club) and Sun Liwei (founder of the eStar e-sports club) after a short conversation via video link. The agreement was reached in just five minutes largely due to the fact the two founders share very similar personalities, ways of thinking, and career prospects.
The company is the only e-sport firm in China boasting the home game of both the League of Legends Pro League and the King Pro League.
The first e-sports entered the Chinese market in 1998. After more than a decade of development, the industry has entered an exponential growth stage with more e-sports leagues being established and more e-sports events being commercialized at a faster speed.
iResearch Consulting Group Co – the leading provider of online audience measurement and consumer insights in China – released a report on the Chinese e-sports research, indicating its market scale in 2021 reached 167.3 billion yuan ($24.9 billion), up 13.5 percent from the same period in 2020.
Asked about why Xingjing Weiwu is based in Wuhan, He Youjun explained that eStar's home games are set in Wuhan, and its biggest investor – Wuhan Tourism & Sports Group Co – is also in Wuhan. As one of the cities accommodating most college students in Asia, Wuhan also has a large number of e-sports enthusiasts.
Digitalization is one of the company's priorities for future layout. "What we want to do is engage more people in sports events through high-tech digital devices," said Qi Wenjie, a manager of the firm, who cited exercise at home as gaining increasing popularity in recent years.