July 1, 2020 / 3:08 AM / 5 days ago

Gamer Republic seek $10M on Kickstarter to buy LCK franchise

Gamer Republic, Inc., a California-based startup, are employing an unusual strategy in their bid to land a franchise in the League of Legends Champions Korea (LCK).

They are attempting to crowd-source at least $10 million through Kickstarter. The total pledges made by 13 backers as of Tuesday night amounted to $22,498, with 35 days remaining in the campaign.

Gamer Republic’s Kickstarter post states that donors will be given voting rights on the prospective club’s operations.

“We need funds to operate for at least two years,” Gamer Republic wrote. “Those who participated in this campaign and participated in the fundraising can exclusively exercise the team’s control over the next two years. Player selection, manager/coach selection, player appearance/replacement, ban/pick draft phase are all decided by your vote.

“And if the decisions you make lead to good results in the match, you each get the ‘Operation Score’ in your judgment. If your decision results bad, you each lose the ‘Operation Score’ at your discretion.

“Every match, every set, your choice will be fed back to the ‘Operation Score.’ And at the end of a season, you can be rewarded with that ‘Operation Score.’”

Prize money from the teams’ match earnings as well as bonus money based on Operation Scores will go to minority owners at the end of the year, according to the post. A trophy will go to the backer with the best score.

The lowest “membership” level offered is $570 for a “2-year operation rights bundle.”

According to Korean esports website Korizon, 21 groups put in bids for teams in the revised LCK, which plans to switch to a franchise model next year. All current LCK and Challengers Korea series teams are involved except for Griffin, per the report.

North American organizations FaZe Clan and NRG Esports expressed initial interest in bidding on LCK clubs but didn’t end up filing formal requests, according to Korean media outlet Fomos.

—Field Level Media

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