Why the Emerge Gaming (ASX:EM1) share price is rocketing 33% higher today

The Emerge Gaming Ltd (ASX: EM1) share price has started 2021 with a bang.

The esports and gaming technology company’s shares were up 33% to 10.5 cents in morning trade.

Why is the Emerge Gaming share price rocketing higher?

Investors have been buying the company’s shares this morning following the release of an update on its MIGGSTER social gaming platform.

According to the release, Emerge Gaming has banked its first cash receipts from the social gaming platform to the value of A$8.3 million.

The MIGGSTER platform was launched on 14 November 2020 and the first cash receipts represent gross subscription fees received by Emerge in the 48 days since its launch date.

Management also advised that MIGGSTER subscriptions continue to…