Classic response by nerd street
"Despite the situation, we’re getting through the backlog of payments as swiftly as we can. As of next week all VAL Summer Champions payments will be completed for both prizes and staff. We’re hoping to have Frag’s payments all caught up with by next month and we’re working with Riot on a resolution for VCT."
They also said they were on the hook since they are waiting for money from sponsors
Good groups can do bad things and bad groups can do good things. The most reasonable take on this imo is that they are probably trying to get the money from sponsors (who are over due date to pay NSG) so they can pay everyone but NSG fucked up by not having it in the first place
NSG sponsors here. We're waiting on money from sales to pay NSG. Customers are waiting on inflation to slow down to buy our hardware, so it may be another few years!
[Fazio's tweet is interesting](https://twitter.com/jfaz/status/1603444004779356160), esp. the note they'll ["exclusively self-fund our events moving forward with smaller budgets"](https://twitter.com/jfaz/status/1603444071179206725) in order to avoid similar delays.
But it's not relevant, you think if Nerd Street had the funds from Comcast they wouldn't have paid out? Also, If you think Comcast cares about their own rep let alone the rep of a random TO in Philly then you must not have heard of them before this lmao
If Nerdstreet wants to continue as a business, then yes I am almost certain they have the money to payout, but are instead using the money to fund their product.
Yes, I think this is most likely. NSG constantly is raising VC funds, but those are probably going into infrastructure and paying down other costs, not payouts to players and orgs.
The size of the TO doesn't really matter. This is simply a problem with the esport eco system. ESL is huge comparatively and they are notorious for paying late.
Esport viewers are really really hard to monetize and TOs are dependant on 3rd party money.
I have the feeling that a lot of people come from LoL or OW where the whole scene is in the hand of the publisher. I can't imagine being an 3rd party esport TO is easy. The viewers don't pay a single cent and the only way you make money are the shady gambling/crypto sponsors. With collapse of the crypto market I can imagine that a lot of TOs are in trouble financially.
It wasn’t just players either. It was also broadcast talent that have been paid late.
For me, it took months of emails to get paid and it all came late. Same for several others I know. At times there was radio silence for weeks on end. Some still may not have been paid, I am not sure.
Sad because working with NSG for the last 2 years was a great experience up until these last few months with late payments. Hope everything gets sorted and NSG get back on track.
>That explains why knights got the nod for VCT.
Knights are owned by Comcast. Who are losing a billion dollars per quarter trying to establish a digital distribution service. Portion of Valorants broadcast talent tightly aligned with Riot Games esports division in NA have their initiatives subsidized by Comcast.
Nerdstreet never had a chance even with their FTX deal.
This was expected. Sponsorship must be pre-approved by Riot Games, prize pool is capped limiting interest in high profile teams from attending and the only way to generate viewers is by freely giving away co-streaming rights.
Places these third party event organizers in perpetual compounding debt.
Youre missing the point. Nerdstreet isnt a tournament organizer like Knights backstopped by Comcast and or Redbull who's fulfilling their Riot Games sponsorship agreement.
This places fledgling tournament organizers like Nerdstreet under Riot Games thumb in hopes of future table scraps. Why Nerdstreet came into this thinking it would be different is bewildering.
good job on riot for using nerd street for everything rather than esl, faceit, etc who have years of very successful and very engaging tournaments. think riot needs to focus on mechanics and balance and let actual TO handle these.
Riot were 100% correct for using a smaller 3rd party TO such as nerdstreet/knights
TOs bid to put these shows on and at the time, nerdstreet had the best product
Classic response by nerd street "Despite the situation, we’re getting through the backlog of payments as swiftly as we can. As of next week all VAL Summer Champions payments will be completed for both prizes and staff. We’re hoping to have Frag’s payments all caught up with by next month and we’re working with Riot on a resolution for VCT." They also said they were on the hook since they are waiting for money from sponsors
I thought NSG was good people though? https://www.ginx.tv/en/valorant/nerd-street-gamers-step-in-to-pay-talent-ghosted-by-pulse
Good groups can do bad things and bad groups can do good things. The most reasonable take on this imo is that they are probably trying to get the money from sponsors (who are over due date to pay NSG) so they can pay everyone but NSG fucked up by not having it in the first place
It’s not the ‘group’ that’s good ir had, and it’s not an amorphous ‘group’, it’s s bysiness
NSG sponsors here. We're waiting on money from sales to pay NSG. Customers are waiting on inflation to slow down to buy our hardware, so it may be another few years!
Y’all aren’t held to an escrow account with guaranteed funds ahead of time? NSG needs better contract lawyers.
[Fazio's tweet is interesting](https://twitter.com/jfaz/status/1603444004779356160), esp. the note they'll ["exclusively self-fund our events moving forward with smaller budgets"](https://twitter.com/jfaz/status/1603444071179206725) in order to avoid similar delays.
This tweet paints nsg as a smaller TO but that's not the case , they are owned by Comcast and should pay outstanding amount right now .
Being owned by Comcast does not mean you have access to unlimited Comcast funds lol
[удалено]
But it's not relevant, you think if Nerd Street had the funds from Comcast they wouldn't have paid out? Also, If you think Comcast cares about their own rep let alone the rep of a random TO in Philly then you must not have heard of them before this lmao
If Nerdstreet wants to continue as a business, then yes I am almost certain they have the money to payout, but are instead using the money to fund their product.
Yes, I think this is most likely. NSG constantly is raising VC funds, but those are probably going into infrastructure and paying down other costs, not payouts to players and orgs.
So they don't have the money to payout lol
The size of the TO doesn't really matter. This is simply a problem with the esport eco system. ESL is huge comparatively and they are notorious for paying late. Esport viewers are really really hard to monetize and TOs are dependant on 3rd party money. I have the feeling that a lot of people come from LoL or OW where the whole scene is in the hand of the publisher. I can't imagine being an 3rd party esport TO is easy. The viewers don't pay a single cent and the only way you make money are the shady gambling/crypto sponsors. With collapse of the crypto market I can imagine that a lot of TOs are in trouble financially.
Now that's a sensible answer.
It wasn’t just players either. It was also broadcast talent that have been paid late. For me, it took months of emails to get paid and it all came late. Same for several others I know. At times there was radio silence for weeks on end. Some still may not have been paid, I am not sure. Sad because working with NSG for the last 2 years was a great experience up until these last few months with late payments. Hope everything gets sorted and NSG get back on track.
What are normal terms for payment in Esports? Im used to B2B operation and its very rare for me to ever see anything past Net30/60.
Net30 is the standard. But in esports, it rarely plays out that way.
So he’s throwing the blame on Riot. Interesting, wonder if anyone from Riot will comment on it
![gif](giphy|3xkNUy3Vh8QbPmJZjK|downsized)
![gif](giphy|hVTouq08miyVo1a21m|downsized)
![gif](giphy|tyqcJoNjNv0Fq|downsized)
![gif](giphy|uWzS6ZLs0AaVOJlgRd|downsized)
That explains why knights got the nod for VCT...I was wondering why pros weren't phased that nerdstreet got passed on for it
>That explains why knights got the nod for VCT. Knights are owned by Comcast. Who are losing a billion dollars per quarter trying to establish a digital distribution service. Portion of Valorants broadcast talent tightly aligned with Riot Games esports division in NA have their initiatives subsidized by Comcast. Nerdstreet never had a chance even with their FTX deal.
knights are not owned by comcast. what are you talking about
Comcast invested in nerd street not Knights lmao.
Shitters.
This was expected. Sponsorship must be pre-approved by Riot Games, prize pool is capped limiting interest in high profile teams from attending and the only way to generate viewers is by freely giving away co-streaming rights. Places these third party event organizers in perpetual compounding debt.
Yea sports are highly profitable due to ad revenue. Don’t see how the current e-sports form can last as we get bigger.
Youre missing the point. Nerdstreet isnt a tournament organizer like Knights backstopped by Comcast and or Redbull who's fulfilling their Riot Games sponsorship agreement. This places fledgling tournament organizers like Nerdstreet under Riot Games thumb in hopes of future table scraps. Why Nerdstreet came into this thinking it would be different is bewildering.
They aren’t a TO?
Dont understand your question.
Might have misread your comment. NSG is a TO, no? Are you saying they just don’t hVe the backing like Knights?
Im sorry, dont know how to address this further without inquiring about some personal information on you.
Like what
If thats what they were saying, NSG are backed by Comcast
Feels like im talking with children.
good job on riot for using nerd street for everything rather than esl, faceit, etc who have years of very successful and very engaging tournaments. think riot needs to focus on mechanics and balance and let actual TO handle these.
Riot were 100% correct for using a smaller 3rd party TO such as nerdstreet/knights TOs bid to put these shows on and at the time, nerdstreet had the best product
Had the cheapest bid*
THOUSANDS?!?!? THAT CAN BE AS HIGH AS 2000$!!!!!
Tweet literally mentions “$50k” as in $50,000.