Team Queso

What Team Queso does

Team Queso (TEAM QUESO S.L.) is a Madrid-based, privately held esports organization founded in February 2017 by Álvaro González de Buitrago and Alicia Morote Oliver, operating one of Europe's most prominent competitive rosters with an explicit focus on the mobile esports segment. The company fields teams across Clash Royale, Brawl Stars, PUBG Mobile, Wild Rift, Axie Infinity, League of Legends, Rocket League, and Valorant, and serves as a brand-activation platform for consumer advertisers (Samsung, Telepizza, Razer, Xbox, Fontvella, FC Barcelona, among others) seeking access to its 30 million+ aggregated fan base concentrated in Spanish-speaking and LATAM markets.

The company's product and technology stack combines four interlocking assets: (1) AppGrade, an acquired mobile tournament-organization platform with 120,000+ organic downloads and 40,000 monthly active users; (2) PatoGraphics, a wholly-owned audiovisual production subsidiary whose in-house TV studio (inaugurated June 2020) produces both first-party content and third-party esports broadcasts; (3) Chilli Cheese Games, a blockchain-enabled mobile games studio launched in 2022; and (4) TQ Olympo, a Web3 subsidiary that in 2022 executed the first Security Token Offering (STO) in the esports industry, distributing six NFT tiers (Special through Legendary) tied to a virtual stadium experience, profit-share rights, and a 20% equity stake in Team Queso Esports, with the Avalanche blockchain as technology partner.

Team Queso generates revenue across four streams disclosed in its investor materials: esports/brand sponsorships (34% of 2021 revenue), media and content production (42%), technology (AppGrade licensing and planned fan-app monetization), and the Olympo blockchain vertical. Go-to-market is multi-channel: revenue-share partnerships with game publishers and league operators (Supercell, Riot Games, Mediapro), direct-to-consumer merchandise via Shopify, B2B white-label apps for brands and football clubs, and a regulated security-token distribution to retail and accredited investors. Strategic partnerships include Fnatic (the Fnatic TQ Superliga alliance), Avalanche, and Belobaba Fund, supported by a management team that combines ex-Uría Menéndez legal experience with operational esports backgrounds across EU, NA, LATAM, APAC, and MENA.

Name

Team Queso

Legal name

TEAM QUESO S.L.

Website

https://teamqueso.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Team Queso is a Spanish mobile esports organization founded in 2017 that fields competitive rosters across mobile and PC/console titles and serves consumer brands, game publishers, and investors through sponsorships, content production, tournament technology, and a blockchain-based fan engagement ecosystem.

Ownership category

akta.pro rank

Product category

Esports Organization & Mobile Gaming

NAICS

Sports Teams and Clubs (711211)

SIC

Services-Membership Sports & Recreation Clubs (7997), Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Esports Teams & Player Organizations (MPAFADAB)

akta.pro secondary industries

Mobile Esports Tournaments & Leagues (MPAKANAK), Esports Competition Platforms (Tournament Platforms, Matchmaking, Ladders) (MPAFADAF)

Keywords

• Mobile esports organization
• Esports content production
• Tournament organization platform
• Blockchain gaming
• Esports brand sponsorships

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Esports / Brands: Revenue from competitive esports including TV rights, league sponsors, game developer stipends, in-game digital items, and tournament prizes. Brand collaborations through creative and disruptive campaigns with activation scalable via owned technology and content creator network. In 2021, brands represented 34% of revenue.
2. Media / Content: Revenue from content production including TV studio operations, streaming production, VOD content, and motion graphics. Over 50% of current production sold to external clients. Media represented 42% of revenue in 2021.
3. Technology: Revenue from AppGrade tournament organization platform, fan app monetization (in-app currency, fantasy games, VIP subscriptions, exclusive content), and white-label apps developed for external clients including FC Barcelona.
4. Olympo / Blockchain: TQ Olympo activities funded via Security Token Offering (STO). Revenue includes guild for NFT/P2E games, NFT game creation, crypto-influencer talent agency, educational programs, fan utility tokens, esports stadium, and crypto sponsorships. TQO holders backed by 20% equity acquisition of Team Queso Esports.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels9 records

Core offering

Team Queso operates competitive esports teams across mobile (Clash Royale, Brawl Stars, PUBG Mobile, Wild Rift), PC (League of Legends, Valorant), and console (Rocket League) titles, and sells associated sponsorship rights, content production services, and merchandise. The company runs the AppGrade tournament organization platform and licenses white-label apps to enterprise clients, and operates the TQ Olympo blockchain platform offering NFT membership tiers and a security token (TQO) with fan utility, VIP stadium access, and equity participation.

Product overview

Team Queso operates as a diversified esports and entertainment organization with a multi-product portfolio. The core offering includes competitive esports teams across mobile games (Clash Royale, Brawl Stars, PUBG Mobile, Wild Rift, Axie Infinity) and PC/console titles (Valorant, League of Legends, Rocket League). The company has expanded into technology products through AppGrade (tournament organization platform) and Chilli Cheese Games (blockchain mobile games studio), augmented by PatoGraphics (audiovisual production). The Olympo platform represents the blockchain-powered extension, offering NFT-based memberships, security token (TQO), and a virtual esports stadium concept. The portfolio also includes merchandise (Team Queso Pro Jersey), branded content production, and a Fnatic partnership for League of Legends. This is a platform-plus-modules architecture where the esports operations serve as the audience foundation, technology products enable scalability, and Olympo extends into Web3/tokenized community engagement.

Differentiator

Problem solved

Functional benefit

Brands

• TQ Olympo: Blockchain gaming initiative handling NFT games creation, crypto-influencer talent agency, educational programs, fan utility tokens, esports stadium, and crypto sponsorships. Executed the first esports Security Token Offering.
• Chili Cheese Games
• AppGrade

Products and services

• TQ Olympo Blockchain-powered extension of Team Queso esports delivering NFT-based membership tiers (Special, Rare, Epic, Heroic, Mythic, Legendary), the TQO security token offering business decision control and profit share, and VIP seats in a virtual esports stadium. Includes guild for NFT/P2E games, crypto educational programs, fan utility tokens, and crypto sponsorships.
• AppGrade Mobile app platform for tournament consultation and organization, with over 120,000 organic downloads and 40,000 monthly active users; enables tournament organization globally for brands, companies, league operators, influencers, and digital events. Licensed as white-label to enterprise clients including FC Barcelona.
• PatoGraphics Content Production Services Audiovisual production services company and exclusive content producer for Team Queso since 2017. Specializes in gaming content across all VOD formats, motion graphics, and streaming production. Over 50% of current production is sold to external clients.
• Chilli Cheese Games (mobile games) Blockchain-enabled mobile games studio launched by Team Queso, publishing free-to-play mobile games leveraging blockchain technology. First free-to-play game launched in Q4 2022.
• TQ Token (TQO) Security Token Offering Security token (TQO) offering conducted via the TQ Olympo platform. Token holders receive NFT with utility perks, retain business decision control, and participate in profit share of Team Queso Olympo. Backed by a 20% equity acquisition of Team Queso Esports.
• Team Queso Pro Jersey 2021 (Merchandise) Official Team Queso team jersey available for purchase through the Team Queso Shopify e-commerce store, targeted at fans and esports apparel collectors.
• Team Queso Fan App Official Team Queso mobile app for iOS and Android, providing fans with esports team achievements, in-app currency purchases, fantasy games, VIP subscription tiers, and exclusive video content around Team Queso's competitive teams and creators.

Quantifiable outcome

• €1.5M revenue in 2021 with 75% YoY growth
• +7 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Nine partnerships are on record, tiered flagship, core, major and minor.

• FnaticflagshipStrategic or Co-development Partner · 1 January 2021Strategic partnership forming Fnatic TQ for Superliga (Spanish League of Legends). This joint team competes in the highest tier of Spanish esports, combining Team Queso's mobile expertise with Fnatic's established PC/console esports brand.
• Avalanche (AVA Labs)coreTechnology or IntegrationOfficial technological partner for TQ Olympo blockchain projects. Avalanche provides technical support for TQ Olympo projects, development of community tools, and network connections through AVA Labs. Avalanche is described as the fastest blockchain platform in the industry.
• AppGradecoreStrategic or Co-development PartnerAcquisition of AppGrade platform. Unique mobile app for tournament consultation and organization with 120,000+ organic downloads and 40,000 monthly active users. AppGrade CEO Marc Ollé joins Team Queso management team.
• PatoGraphicscoreStrategic or Co-development PartnerTakeover merger of PatoGraphics, audiovisual production company specializing in gaming content. Exclusive content producers for Team Queso since 2017. Capabilities include all VOD formats, motion graphics, and streaming production.
• Chilli Cheese GamesmajorStrategic or Co-development PartnerJoint venture for mobile games studio with blockchain technology. First game free-to-play launched Q4 2022. Combines Team Queso's mobile gaming expertise with blockchain development capability.
• TutellusminorStrategic or Co-development PartnerEducational partnership offering exclusive content to TQ Olympo NFT holders. Tutellus is a leading EdTech platform in Spain and LATAM with 2 million students and 180,000+ video courses over 8 years.
• MediapromajorStrategic or Co-development PartnerLicense partner for esports operations. Partner license holder enabling Team Queso to operate esports competitions and content production under Mediapro's broadcasting and events infrastructure.
• Chrysalis GroupcoreStrategic or Co-development PartnerManagement partner for TQ Olympo operations. Chrysalis Group provides operational management including COO Carlos Celorrio and CFO Marcos Carrera. Chrysalis Group led the first-ever movie tokenization (Bullrun).
• AppGrade (appgrade.es)coreTechnology or IntegrationTechnology partner referenced in website partners section for tournament organization and app development services.

Scale indicators13 records

Recent moves13 records

Expansion highlights7 records

Broad incumbents

• G2 Esports: One of Europe's largest esports organizations, competing globally across LoL, Valorant, Rocket League, and more. Significantly larger and broader than Team Queso, but competes for overlapping mobile/console tournament slots and European brand sponsorships.
• Team Liquid: Global esports powerhouse with rosters across Dota 2, LoL, Valorant, and mobile titles. Larger and more diversified competitor serving as a benchmark for European-based multi-region esports orgs, with comparable content production and creator network capabilities.
• FaZe Clan: Global esports and gaming lifestyle brand with a public market listing (now private post-Nyric acquisition). Comparable in combining competitive teams, content creators, and brand merchandise, but at materially larger scale and primarily North American focus.
• 100 Thieves: North American esports and lifestyle apparel brand with rosters in LoL, Valorant, and content creators. Comparable business model combining competitive teams, merchandise, and creator network, though operating primarily in NA market at larger scale.

Direct peers

• Fnatic: Global esports organization with European roots; Team Queso's direct partner through the Fnatic TQ Superliga joint team in League of Legends. Fnatic competes across multiple PC/console titles with established brand partnerships and a significantly larger scale, making it both a collaborator and the most directly comparable competitor in the European mobile/PC esports space.
• KOI: Spanish esports organization co-founded by Ibai Llanos, competing primarily in LEC and regional esports leagues. Direct competitor for Spanish-speaking audience attention and brand sponsorships, with similar content-creator-led DNA.
• Team Heretics: Madrid-headquartered Spanish esports organization competing across multiple titles including LoL Superliga and Valorant. Direct domestic competitor with overlapping audience in Spanish-speaking markets and similar multi-title, multi-game strategy.
• Movistar Riders: Spanish esports organization backed by Movistar, competing in Superliga and other regional leagues. Direct competitor in the same Spanish-speaking market with similar content production capabilities and league-based revenue model.
• MAD Lions: Spanish-origin esports organization with LEC presence (League of Legends EMEA Championship). Direct competitor in the European mobile and PC esports scene, particularly within Spanish-speaking audiences and Superliga.

Regional players

• Astralis: Danish-headquartered European esports organization, publicly listed and historically dominant in CS:GO. Comparable as a European multi-title esports org with similar league revenue-share model, though focused on PC/console FPS titles rather than mobile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/teamquesogg
• YouTubeyoutube.com/c/TeamQueso
• Facebookfacebook.com/TeamQueso
• Instagraminstagram.com/teamquesogg
• TikToktiktok.com/@teamquesogg

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Team Queso