Multinational esports organization Team Liquid have entered the world of cryptocurrency, establishing a four-year partnership with crypto exchange Coinbase.
The convergence between esports and cryptocurrency has really established itself in 2021, with crypto exchanges betting big on competitive gaming as a means of advertising their services.
Team Liquid are the latest to cash in on this trend, though the financial value of their four-year partnership with Coinbase has not been disclosed. According to a release, they’re going to work together to “develop technology that elevates the overall fan experience.”
Specifically, this new alliance will see Coinbase integrate into the org’s Liquid+ community platform, provide crypto-based payment opportunities on their store, and feature their branding across jerseys and content.
An additional facet of the partnership will see Coinbase help Team Liquid work towards developing their own NFTs. Otherwise known as non-fungible tokens, this technology aims to assign ownership to digital assets.
Crypto and esports have proven to be a financially lucrative crossover in 2021, with multiple deals carrying seven-figure values. TSM and FTX’s 10-year deal is worth $210m and Fnatic’s partnership with Crypto.com is valued at $15m, for example.
Coinbase have already been active in competitive gaming, entering deals with tournament organizers ESL and BLAST and organizations like BIG and Evil Geniuses.
“When we were looking for a potential partner in the crypto space, it was really important that we found someone that was doing it the right way, the Team Liquid way,” said Team Liquid co-CEO Steve Arhancet.
“And the more we learned about Coinbase, the more certain we became that this was the partner we were looking for. Like a lot of our fans, crypto was new to me once, but once I started reading and watching, I realized that it wasn’t some passing fad — it’s here now, and will be in the future. Together with Coinbase, we hope we can demystify crypto for Team Liquid fans.”