Crypto and gaming: FTX is bringing sports and esports together
Recently, GosuRabbit reported on how sports athletes like Pittsburgh Steelers receiver Juju Smith-Schuster are bridging the gap between esports and traditional sports.
But it’s not just people that are doing this.
Cryptocurrencies and crypto exchanges have been bringing the two industries together through partnerships with different leagues and a common user base between sports and esports fans.
Crypto is a digital currency that does not rely on a centralized bank or regulatory authority. Instead, it relies on a network of thousands of computers to make its transactions. Ever since the first bitcoin was made in 2008, the industry has been booming.
On June 23, 2021, Major League Baseball (MLB) announced a five-year partnership with cryptocurrency exchange company FTX, which allows people to easily buy and sell crypto. The deal included an FTX patch to be worn on all umpires’ uniforms for the first time in the league’s history.
Two months later, on Aug. 30, 2021, Dot Esports reported that the League of Legends Championship Series (LCS) reached a seven-year deal with FTX. The MLB and LCS partnering with the same cryptocurrency exchange creates an indirect relationship between the two leagues.
GosuRabbit previously reported on how crypto was overtaking the esports industry as young gamers are buying into the many currencies. With athletes like Golden State Warriors point guard Steph Curry and Tampa Bay Buccaneers quarterback Tom Brady both throwing their support towards FTX and esports teams, the separation between traditional sports and esports is shrinking.
With the esports audience growing, FTX will grow alongside it. Traditional sports fans and esports fans are connected through a love of competition, but now they can be connected through a love of cryptocurrencies.
These three industries are converging together, making record deals in the meantime. This should boost the revenue of esports even more, and cryptocurrencies should see a boost in the market as well. So, from the words of Tom Brady — “you in?”