More tax breaks for Worlds

Good Afternoon. Did you know that most interplanetary navigation calculations only use the first 15 digits of Pi (π)?

Meanwhile, the first 60 million digits of this mathematical constant have yet to complete the first rival battle in Pokemon Sapphire.

— Tim Rhyne, Jason Liu

MAIN QUEST: The Economics of League Worlds

The League of Legends World Championship reportedly brought an estimated economic impact of 200 billion won ($153 million) to Korea. Venue ticket sales only accounted for around 2% of direct impact and tickets for live broadcasts within a Korean-based cinema chain were popular with foreign nationals (15% of viewers).

The event’s economic success has members of opposing Korean political parties agreeing on the need to expand incentives for companies interested in operating esports teams or hosting esports tournaments. Proposed incentives range from expanding existing 10% deduction rates and terms to additional corporate tax deductions on expenses to host esports tournaments within the country.

Step Back: Korean culture has taken root within western countries over the past several years with the successful rise of K-pop and K-dramas. The incentives add esports to this existing playbook of exporting cultural goods and bolstering interests in tourism to the country. If London’s hosting of Worlds 2024 showcases a major impact, then the esports industry may find itself benefiting from more governments bidding for events through these incentives.

HUD

• 🤘 Michael Unsworth and Lazlow Jones join other Rockstar Games veterans at Absurd Ventures. There is currently no confirmed information on what projects Absurd Ventures may be working on.

• 📉 Embracer Group’s FISHLABS studio laid off ~50 people. Additionally, Embracer’s Free Radical Design studio is facing a potential closure on December 11th.

• 🤝 Sony and NCSOFT(makers of Guild Wars) announced a strategic partnership to tackle mobile.

MAJOR W

• 💰 Cyberpunk 2077: Phantom Liberty has sold 4.3 million copies.

• 📅 Dragon Dogma 2 release date is confirmed for March 22nd, 2024.

• 🤡 Among Us collaborated to release cosmetics featuring 7 other indie games ranging from Untitled Goose Game to Celeste.

F IN THE CHAT

• 🙊 Bethesda customer support is responding to Starfield's negative reviews. While they are currently falling flat, Dying Light’s former community manager has proven that this can be a viable strategy to reverse course.

• ☠ Skull and Bones may be released on February 16th, unless it follows its last 5 years of delays.

CAREER CORNER

• Level Designer — Valve (Bellevue, WA)

• Physics Programmer — Naughty Dog (Santa Monica, CA)

• Senior Product Manager, Web3 Gaming — Zynga (Remote, US/Canada)

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