Brazilian League of Legends team Rensga eSports will reportedly be forced to remove four of its members due to financial struggles from one of their main sponsors — the crypto marketplace BitPreço.
Rensga, who compete in CBLOL, the professional League of Legends league in the region, confirmed part of a report by Millenium in a press release, saying they will be making roster changes while also touting the organization’s business efforts within and outside of esports.
“Rensga is a strong brand and, despite its young age, it positions itself with credibility in a market that, in addition to allowing several possibilities for innovation and new business, is undergoing rapid development,” CEO João Sobreira told Millenium.
The team is expected to replace every player on the team expect for bot laner Yudi “NinjaKiwi” Leonardo Miyashiro in the coming week according to the report. That includes South Korean imports Shin “Trap” Seung-min and Kim “Mocha” Tae-gyeom along with native players Gustavo “Minerva” Queiroz Alves and Bruno “Goku” Miyaguchi.
Crypto in esports
BitPreço is a cryptocurrency marketplace in Latin America founded in 2018. It is the fastest growing crypto platform in the Brazilian market and has the second most Bitcoin volume in the country according to Coinpare.
The marketplace’s reliance on Bitcoin may be its downfall as the crypto market continues its fall in recent weeks. Bitcoin alone has dropped more than 60% in value in the last several months.
Rensga in CBLOL isn’t the only team to have crypto sponsors in esports in recent times. FTX partnered with the League of Legends Championship Series in 2021 after doing the same with TSM and the European organization Vitality recently partnered with blockchain network Tezos in early 2022.
In Rensga’s response to the Millenium report, it did not mention its crypto sponsor or how the current market is impacting them. The Brazilian org does have other sponsors outside of BitPreço, but the crypto marketplace seems to be their largest addition.
Rensga is currently sat in last place in CBLOL with a 1-5 record along with INTZ.