Leading Sponsor of Astralis Files For Insolvency

One of the leading sponsors of Astralis, Esports.com has filed for bankruptcy. The company was in the news for their expenditure on the domain name for ‘seven figures’ at the time of their launch in 2017.

Esports.com, had entered into a sponsorship arrangement with CS:GO giant Astralis in the year 2017, which amounted to $2mn, stretched in three years.

In late 2017, eSports.com launched an initial coin offering (ICO) for its Esports Reward Token (ERT), which could be used to purchase planned coaching lessons and training videos from its website, as well as bet on matches.

However, the betting component was later dropped. The company said it raised $5.8M in the ICO.

According to TheEsportsObserver, Esports.com was also the focus of some controversy. In 2018, eSports.com was accused of not paying its freelance contributors, and previously appeared to misrepresent a relationship with ESL.