Player Republic seek $10M on Kickstarter to purchase LCK franchise
Player Republic, Inc., a California-based startup, are employing an unusual method in their bid to land a franchise in the League of Legends Champions Korea (LCK).
They are attempting to crowd-source a minimum of $10 million through Kickstarter. The overall promises made by 13 backers since Tuesday night totaled up to $22,498, with 35 days remaining in the project.
Player Republic’s Kickstarter post states that donors will be offered voting rights on the potential club’s operations.
” We require funds to run for at least two years,” Gamer Republic wrote. “Those who took part in this project and took part in the fundraising can specifically exercise the group’s control over the next 2 years. Player choice, manager/coach choice, gamer appearance/replacement, ban/pick draft stage are all decided by your vote.
” And if the choices you make result in great 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.'”.
Cash prize from the groups’ match incomes along with reward cash based upon Operation Ratings will go to minority owners at the end of the year, according to the post. A trophy will go to the backer with the finest score.
The lowest “membership” level offered is $570 for a “2-year operation rights bundle.”.
According to Korean esports site Korizon, 21 groups put in bids for teams in the modified LCK, which prepares to change to a franchise design next year. All current LCK and Challengers Korea series teams are included other than for Griffin, per the report.
North American organizations FaZe Clan and NRG Esports revealed initial interest in bidding on LCK clubs however didn’t wind up filing official demands, according to Korean media outlet Fomos.