The Seoul Dynasty is one of the 12 Overwatch League squads, KSV Esports International announced today, giving us a better picture of what Blizzard Entertainment’s pro scene will look like for its online team shooter.
KSV bought one of the franchises for an estimated $20 million as part of a bet that esports will become as lucrative as traditional sports. Competitive gaming is expected to grow to $1.5 billion by 2020, according to market researcher Newzoo.
“We are excited about the name and the branding. For us, ‘Dynasty’ has several significant meanings,” said KSV CEO Kevin Chou said in an interview with GamesBeat. “We are an international company. We want to pay homage to the last Korean dynasty, the Joseon Dynasty that established Seoul as the capital. Dynasty has a sports context, about how we want to build a dynasty in Overwatch. We acquired a team called Lunatic-Hai, which was the dominant team in Korea.”
Chou and Kent Wakeford spent years building Kabam into a mobile gaming giant and selling it (in parts) for more than $800 million to Netmarble and Fox. Then they bought the right to a franchise of Blizzard Entertainment’s league in South Korea, a hotbed for esports.
Seoul Dynasty’s logo has a tiger and a modern stylized royal seal, which symbolizes strength, courage, and good fortune. On November 18, the team will reveal its final roster for the Overwatch League inaugural season, and it will announce more about investments it will make into the team.
Arnold Hur, the former president of South Korean beauty products company Memebox, has joined Seoul Dynasty as chief growth officer.
“He’ll be responsible for the revenues of our company,” Chou said. “We are figuring out how much revenue will be driven by ticket sales, media rights, sponsorships, and winnings. We plan to build a relationship with our fans and Arnold will be in charge of it.”
Chou said he was happy with how the Overwatch League is evolving, with lots of diverse ownership interests such as Robert Kraft, chairman and chief executive officer of the Kraft Group and the New England Patriots in Boston.
Earlier this week, the Immortals group announced its Overwatch League team in Los Angeles would be named the Los Angeles Valiant. And Robert Kraft, the owner of the New England Patriots, and his group announced the name of Boston’s team: the Uprising.