Valiant Eagle (OTC: PSRU) Subsidiary, VE Gaming, Enters Into LOI to Create American Basketball Association Video Game

Rhea-AI Summary

Valiant Eagle, Inc. (OTC Pink: PSRU) has signed a letter of intent with the American Basketball Association (ABA) to develop an officially-licensed ABA video game. The project aims to utilize a revenue-sharing model, inspired by the successful NBA 2K franchise, which has sold 125 million copies since its inception. The ABA game intends to capture a share of the lucrative basketball video game market. CEO Xavier Mitchell highlighted the massive potential in creating an ABA-focused game, building on the popularity of basketball-themed video games.

Positive

• Entered letter of intent with ABA to create an officially-licensed ABA video game.
• Plans to utilize a revenue-sharing model, potentially increasing future revenue.
• Inspired by the successful NBA 2K franchise which sold 125 million copies.

Negative

• None.

LOS ANGELES, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Valiant Eagle, Inc. (OTC Pink: PSRU) is proud to announce that it has entered into a letter of intent (LOI) with the American Basketball Association (ABA) to granting the company the right to create an officially-licensed ABA video game.

The LOI gives VE Gaming the ability to create an “NBA 2K" styled video game that utilizes ABA teams, players, and other related content. Under the terms of the LOI agreement, VE Gaming and the ABA will utilize a revenue-sharing model, which will be finalized at a later date.

With the popular “NBA 2K” franchise as a guide, Valiant Eagle and VE Gaming see a potentially-lucrative opportunity to capture a part of the market share of the basketball video game market. If the success witnessed by the “NBA 2K” franchise is any guide, the potential opportunity could be a massive windfall for the company.

Originally released in November 1999, the “NBA 2K” franchise has sold a cumulative 125 million copies, as of October 2022. NBA 2K20 represents the most successful game within the franchise with over 14 million copies sold.

According to Levvvel.com, NBA 2K22 had over 1.9 million daily players in 2022. On a cumulative basis, gamers have spent 675,326 hours playing just NBA 2K22 with the average gaming session listed at 1:11 hours.

In September 2022, the latest game in the franchise was released, “NBA 2K23.” In under a month, gamers have already spent 39,171 hours playing the new game. The average player count for 2K23 was 15,075, with a peak player count of 25,467.

Take-Two Interactive, the game developer and owner of the "NBA 2K" franchise, accounts for 65% of its revenue from the series. With the help of strong sales of "NBA 2K22," Take-Two reported an 11% increase in profits during the fiscal year 2022. Total net revenue for the period was $930 million, thanks in large to its successful NBA franchise.

“We see massive potential in an ABA-focused video game, as we look to continue building ties to this large professional basketball league. The success seen by the “NBA 2K” franchise continues to be astounding and we feel there is a real opportunity to market to that gaming audience with our ABA game in addition to our street-based basketball game,” said Valiant Eagle CEO, Xavier Mitchell.

About Valiant Eagle Inc

Valiant Eagle, Inc. (OTC: PSRU) is a publicly traded corporation focused on energizing celebrity entertainment, social media, and TV communications. VE aims to achieve an unparalleled advancement in media through music, sports, and technology for the millennial generation.

Valiant Eagle
Investor inquiries: ir@valianteagle.net
Website: www.valianteagle.net
Twitter: @valianteagleinc
Facebook: @valianteagleinc

Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Valiant Eagle, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Valiant Eagle, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

FAQ

What is Valiant Eagle's recent press release about?

Valiant Eagle announced a letter of intent with the American Basketball Association (ABA) to create an officially-licensed ABA video game.

What is the ticker symbol for Valiant Eagle?

The ticker symbol for Valiant Eagle is PSRU.

How does the ABA video game project affect PSRU?

The ABA video game project represents a potential revenue stream for PSRU, capitalizing on the popularity of basketball video games.

What revenue model will Valiant Eagle use for the ABA game?

Valiant Eagle will utilize a revenue-sharing model, details of which will be finalized later.

What market opportunity does Valiant Eagle see with the ABA video game?

Valiant Eagle sees a lucrative opportunity to capture market share in the basketball video game sector, akin to the NBA 2K franchise.