NetEase Returns Activision Blizzard's Favor in Overwatch League

Wednesday was a big day for esports. Activision Blizzard (NASDAQ: ATVI) announced the sale of the first seven teams of its Overwatch League, billed as the first major esports league with city-based teams. 

Some of the notable new owners include New England Patriots boss Robert Kraft and Mets COO Jeff Wilpon, but sliding in representing Shanghai is NetEase (NASDAQ: NTES). It's fair to say NetEase isn't a household name outside China or growth-investing circles, but it's also easy to see why NetEase would pony up the reported $20 million franchise fee to lock up a team. NetEase owes a lot of its success to Activision -- and the other way around.

Image source: Activision Blizzard.  

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Source: Fool.com