From 2020 until the end of 2021, there was a severe Covid-19 impact in the Esports industry. In addition, the Crypto industry was having a great time more productive than ever and continued to develop in the same way. Especially if we say that the speed of developments in areas such as Metaverse, NFT and Crypto Gaming cannot be kept up.
His coming together in his two industries was mainly due to the interest of the young community in the Esports world to the Crypto industry. It was an indispensable element for the Crypto industry to attract the attention of Generation Z, who are interested in games and technology. Exactly for this reason, the most important companies in the Crypto industry have decided to make sponsorship deals with many teams that have made their mark on Esport games.
In our article today, we will tell you the effects of the fusion of the Crypto industry with Esport. We’ll be looking into the details of major sponsorships like Cloud9 Blockchain.com and FTX TSM. Let’s get started if you’re ready.
First Big Purchase: FTX TSM Esports
Cryptocurrency exchange FTX has paid $210 million for the naming rights of TSM, one of the world’s most important Esports teams. Hong Kong-based FTX made another 19-year, $135 million deal for the naming rights of the Miami Heat Home Arena, one of the important teams of the NBA, in March 2021. Wanting to increase its influence, the FTX company came back to the agenda with another acquisition, TSM, while the dates showed June 2021.
According to Forbes, TSM is stated as the most valuable Esports organization in the US with a price of $410 million in the Esports industry. They said that with the $210 million payment received from FTX, they will use TSM to attract high-paying Esports stars to their team. They also stated that with this budget, offices will be opened in China, Europe and South America.
In addition, the CEO of FTX said the following about the giant acquisition; “Taking a huge industry and then reimagining it in a digital age: that’s sort of what esports are to sports, and it’s sort of what crypto is to investing and to finance”.
We can say that these developments are exciting for the Crypto gambling industry. Because most Esport betting sites now serve using various cryptocurrencies. Whether you support TSM or are passionate about the exciting world of Esports, definitely try to place bets using crypto if you haven’t tried it.
Blockchain.com Takes the Stage: Partnering with Cloud9
Esports team Cloud9, competing in North America, announced that they have signed a sponsorship agreement with Crypto company Blockchain.com. According to the agreement, Cloud9 will use the Blockchain.com logo on their jerseys and all their active social media accounts. As you know, Cloud9 is one of the oldest and most established teams in the Esports industry.
Blockchain.com side said that this agreement aims to increase Crypto literacy in young communities. They stated that they will actively work on Twitch, Twitter, Instagram and other social media in their two companies in order to increase financial literacy.
In addition to all this, Jack Etienne, Cloud9 co-founder and CEO, spoke about the Blockchain.com sponsorship;
“Blockchain.com is the perfect partner for the Cloud9 team. Our team takes great pride in working closely with the most noteworthy leaders across industries and the time was ripe to broaden our network to the cryptocurrency world. Blockchain.com’s support will ensure consumers have greater access to, and understanding of, the future of finance through cryptocurrency.”
$15M Sponsorship Agreement Between Crypto.com and Fnatic
Cryptocurrency platform Crypto.com has signed a five-year deal with UK-based Esports organization Fnatic. According to this agreement, Crypto.com’s logo will appear on Fnatic’s jersey. And besides, it will offer various rewards and gifts that cannot be bought with money for Crypto.com users who buy Fnatic products. It will also be released in non-tradable special NFTs for Fnatic.
Crypto.com seems to continue to leave its mark on both the sports and Esports industry. Because, as you know, on November 17, 2021, they bought the naming rights of the arena where the Los Angeles Lakers, one of the most famous teams in the NBA, play basketball. According to this agreement, 700 million dollars were paid for 20 years, and in December 2021 the name of the arena was changed to Crypto.com Arena.
Finally, last month, on February 12, 2022, a hacking scandal occurred on Crypto.com. The information of 483 users was stolen and a total of 34 million dollars of Crypto was lost. You can follow us for such news and more.
Coinbase Sponsors BIG and Team Liquid
The first entry of major cryptocurrency exchanges into the Esports industry took place in the summer of 2021. First, they signed with FTX TSM and then Coinbase BIG, bringing movement to the industry. German Esports organization BIG has announced that they have partnered with Coinbase, the global cryptocurrency exchange.
Another agreement came by the multinational Esports organization Team Liquid. In this agreement, which also includes Coinbase, a partnership was established for four years. Although financial value has not been disclosed, we will see Coinbase on Team Liquid’s jerseys, community platforms and all their content. Likewise, crypto-based payment opportunities will be offered in Team Liquid’s online stores.
Bitget and Team Spirit Come Together
Bitget, the global cryptocurrency exchange, has signed a sponsorship agreement with Team Spirit, one of Russia’s most important Esports organizations. As you know, Team Spirit recently made a name for itself with their first place in Dota 2 The International, one of the tournaments with the largest prize pool in the world.
Bitget is a digital asset trading platform with over 1.8 million users worldwide. With this agreement, they aim to reach young communities who are knowledgeable about technology.
– Nikita Chukalin, CEO of Team Spirit, made statements about this partnership;
“We are very pleased to have Bitget as our partner and look forward to seeing how such cross-border cooperation will create more synergy and value for both sides. We are pleased to see that companies in the most progressive industries are becoming our partners. Bitget – undoubtedly a future-focused company, greatly aligns with our values. Crypto and esports, things that are seemingly out-of-reach and virtual, are now nearly inseparable parts of our lives. We at Team Spirit are excited for the future collaborations and eager to witness the growth of both communities.”