Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of esports solutions provider Gfinity (LON: GFIN) are rising on Thursday after the company announced it has been appointed as the official esports and gaming partner of IQONIQ.
The partnership with IQONIQ, a fan engagement platform, is for three years.
Gfinity's share price is currently trading 2.56% higher at 4p after initially climbing to 4.40p following the announcement.
Gfinity will help support the planning and building of a content and online gaming hub hosted on the IQONIQ fan engagement platform.
The AIM-listed firm will receive a monthly service fee to provide a range of services, including online content production, influencer management services, marketing and promotion via Gfinity Digital Media, online gaming and tournament play and commercial and creative support.
The initial focus will be delivering a fan-focused tournament for eFootball PES 2021 after IQONIQ recently announced a partnership with the game's publisher, Konami.
“The partnership demonstrates Gfinity's strategic focus of working with game changing organisations that have a need for our core capabilities and who are prepared to share commercial upside based on our combined performance,” commented John Clarke, Gfinity's CEO.
“Commercially this is one of the largest deals in Gfinity's history and the team is ready to deliver outstanding results,” Clarke added.
Should you invest in Gfinity shares? Gfinity shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Gfinity shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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