Business
CHIF Announces Planned Rebranding and Name Change to Championship International Fintech Inc. as Part of Esports Business Direction
CHIF Announces Planned Rebranding and Name Change to Championship International Fintech Inc. as Part of Esports Business Direction.
About this update from China Food & Beverage Co.
[{"type":"text","content":"\n London, UK, April 04, 2022 (GLOBE NEWSWIRE) -- China Food and Beverage Company (OTC Pink: CHIF), an Esports and Blockchain Consortium Venture company, today announced that it plans to change its name to Championship International Fintech Inc. as part of an overall rebranding of the Company and its business units and entrance into the massive Esports arena. The name change reflects the company's hybrid strategy into the Esports and Blockchain sectors, where both markets are growing very rapidly. CHIF management believes the timing is right to enter the booming Esports and Blockchain markets. The global Esports market revenue was valued at just over $1 billion in 2021 and is being projected to grow 400% in the next seven years to an estimated $4.28 billion by 2027. As competitive video games continue to integrate into popular culture, global investors, brands, and media outlets are all paying attention. Consumers are as well. In fact, there will be 29.6 million monthly Esports viewers in 2022, up 11.5% from 2021, according to our estimates. https://www.insiderintelligence.com/insights/esports-ecosystem-market-report/ The global blockchain services market is expected to grow from $2.94 billion in 2021 to $4.65 billion in 2022, at a compound annual growth rate (CAGR) of 58%.  https://finance.yahoo.com/news/blockchain-services-global-market-report-164000559.html Mr. Yuen Wong, Chairman of CHIF and Silverbear Capital partner stated, “This is a rebranding process of the Company, as part of our new corporate strategy and we are determined to take the Company to the next level. From our promising research, the industry has seen a huge uptick in investment from venture capitalists, and more recently from private equity firms. The number of investments in Esports doubled in 2018, going from 34 in 2017 to 68 in 2018, as per Deloitte. That is reflected in the total dollars invested also. Investments are up to $4.5 billion in 2018 from just $490 million the year before, a staggering YoY growth rate of 837%, as per Deloitte. These investments are distributed to players across the Ecosystem, from Esports organizations, to tournament operators, to digital broadcasters, allowing it to function and grow.” Jeff Au, CEO of CHIF and Silverbear Capital partner stated, \"We are also positioning ourselves into the Blockchain business...