E-sports and cryptocurrencies collide. Coinbase has entered into a partnership with a Berlin eSports organization.
Coinbase is currently in a rapid global expansion mode. Now the next bang in the expansion course, which should be gratifying for the Berlin crypto and eSports scene. Because the crypto exchange has entered into a partnership with the German esports organization Berlin International Gaming (BIG). They set up teams for various computer games and take part in eSports tournaments with them.
A look at prize money from past eSports tournaments shows that such tournaments are also financially worthwhile. For example, at the tournament “The International 2019 (Dota 2)”, the incredibly high and tempting sum of 34.33 million US dollars was waiting for the winner. The fact that large crypto exchanges are trying to get a foot in the door of major sports events is widespread. Because sports events offer good opportunities to market your own services broadly and effectively. An example of such a partnership is that between the US crypto exchange FTX and Tom Brady.
Coinbase meanwhile is launching branches in more and more countries at an impressive pace. For example Coinbase-Germany, which received the license to trade in cryptocurrencies in June 2021. Or Coinbase Japan, which recently went live in August. It is not only cryptocurrencies that are a growth market in which a lot of money is flowing. A flourishing future is also predicted for eSports. Worldwide esports sales amounted to in 2020, according to Statista, to $ 947 million. By 2024 this should have risen to 1.6 billion. Through the cooperation with BIG, Coinbase will in the future be a premium partner of the in-house CS: GO team and will thus receive various marketing rights.
Esports and cryptocurrencies collide
In the meantime, both parties are looking forward to the cooperation between the two worlds “e-sports” and “crypto currencies”. Daniel Finkler, CEO of BIG, commented on the partnership:
Today we can welcome Coinbase, one of the world’s leading crypto platforms, as a partner. The world of cryptocurrencies is an extremely exciting environment, and it is my aim, through our partnership, to make more people aware of this rapidly growing ecosystem, with all its opportunities and risks.
Sascha Rangoonwala, Country Manager Germany at Coinbase, is also optimistic about the recently published partnership between both sides:
Crypto and esports are both industries with enormous potential and are constantly evolving. The partnership with Germany’s leading eSports organization BIG helps us to better reach digital natives and to educate them about the advantages and risks of cryptocurrencies.
Of course, not every German e-sports fan is a fan. But this partnership can help to make Coinbase and cryptocurrencies in general known to a wider audience. And so ultimately serve the great goal of making Bitcoin and cryptocurrencies mainstream.