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Shanghai kicks off construction of USD 898m e-sports arenaINTL

Shanghai kicks off construction of USD 898m e-sports arena

E-sports fans: y’all better start saving up.

In a clear bid to become the world’s gaming capital, Shanghai began construction of a nearly USD 900m e-sports arena to host major events. The Shanghai International New Cultural and Creative E-sports Center will span an astounding 500,00 square meters and is expected to open in 2024. The city already hosted the League of Legends World Championship last year.

The competitive video gaming craze has proven itself more than a fad as fans fill out huge venues to watch their favorite players go head-to-head. It is currently a billion-dollar industry and China is its largest market. It is estimated that around 70% of China’s 720 million gamers play e-sports.

why it matters
The gaming and e-sports industry is one that appears to be exponentially growing and major investments such as this one in China are only here to solidify the fact that there is a lot of money in playing and facilitating games. The market has huge potential globally and other countries will likely catch up with similar, massive investments soon.