Paddy Power-backed ASX prepares for “aggressive” expansion with executive hires
American Sports Exchange (ASX) has bolstered its executive team ahead of an “aggressive” expansion of its business, beginning with a Series A funding drive in 2022.
The Miami-headquartered start-up, which is led by company founder and president Paddy Power, has said the expansion will include products as well as partnerships with sports leagues and franchises in the US, and potentially internationally.
It has received substantial backing from a number of industry investors, including Power, and has completed two oversubscribed seed funding rounds earlier this year.
In preparation for this next stage, ASX has added former Spotlight Sports Group chief revenue officer Mike Griffin as its new MD and head of revenue.
Griffin, a 25-year industry veteran led the formation of Spotlight Sports Group and oversaw the transformation of the Racing Post brand into a digital media group.
Griffin is joined by former The Irish Times head of marketing Laughlin Rigby, who becomes chief marketing officer and Miami-based investment adviser Thalius Hecksher, who will become chief investment officer.
Other notable additions to the team include sports marketing guru Anthony Puntoriero, who will become president of business development for the US and Ciro Vivaqcqua, who will become chief technology officer.
They will all work closely with ASX President Paddy Power to scale up all aspects of the business and deliver on its growth trajectory. The additions bring ASX’s staff complement up to 30 individuals.
ASX president Paddy Power waxed lyrical about the new hires and the potential impact they might have on the firm’s ambitions to grow and develop in 2022.
“We now boast the most experienced and innovative leadership team in sports gaming entertainment,” Power said.
“Building on our exclusive agreement with RugbyPass, we are poised to expand our partnerships and platform to transform the fan experience and usher in the next generation in fantasy gaming technology and interactivity,” he added.
ASX is creating the first NFTs for sports with listed values that fluctuate in real-time, based on the underlying performance of players and demand in the marketplace. It recently concluded an agreement with Sky New Zealand and RugbyPass to create global rugby NFT’s.
In addition, ASX has revealed that a programme of beta testing with English Premier League and NCAA Basketball games received “overwhelmingly positive” responses from players.