Esports was one of the weirdest hype cycles of the last tech boom. A surge of venture capital and investment led to a frothy market which somehow convinced people that ‘watching Apex Legends’ was not only the next frontier in video gaming, but also in sports and entertainment generally. This unstoppable hype train culminated in FaZe Clan, an esports influencer house, listing on the public markets via a SPAC.

Turns out it didn’t really work, and esports has not remotely lived up to its promise of being the future of sport. What went wrong? Down Round discusses.

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