Blockchain and esports website esports.com is investing $1 million into Australian developer iCandy Interactive.

Esports.com has agreed to invest the sum exchange for 16.5 million newly issued ordinary shares.

Under the term sheet, payments from eSports.com will take place over five equal tranches of $200,000, with the first tranche payable within seven days of signing the deal.

By the end of the transaction, esports.com will own 19.5 per cent of iCandy.

Partner up

Thanks to the investment, the blockchain and esport firms' products and services will be promoted through the iCandy gamer network, which currently exceeds 23 million gamers.

Eports.com will appoint one director onto the iCandy board to facilitate a closer collaboration between the businesses.

This story was originally published on our sister-site BlockchainGamer.biz.