In a recent tweet, Coinbase has officially announced its partnership with one of the world’s biggest esports brand, Team Liquid. As a result of this new partnership, one of the largest crypto exchange platform, will be going to the moon!
2021 has been the year for the establishment of sports in the cryptocurrency industry. As a result, various cryptocurrencies have gotten a new arena to advertise their services. The latest esports company to cash in on this trend is Team Liquid.
The Team Liquid x Coinbase partnership is a four-year deal. However, neither the esports company nor the exchange platform has disclosed the financial value of this partnership. According to the announcement, the partnership will result in the “developing of technology that will elevate the overall user experience.”
Team Liquid, through its co-CEO, Steve Arhancet, expressed its excitement over the new partnership. Arhancet shared that Team Liquid was looking for a partner in the crypto space that would do things the Team Liquid way.
The esports company felt that Coinbase “was the partner they were looking for.”
The Team Liquid x Coinbase Partnership
This 4-year partnership will see the esports company provide crypto-based services. One of these services includes the integration of crypto payment opportunities on Team Liquid’s Liquid+ community platform.
Part of the agreement includes the Coinbase branding on the Team Liquid jerseys. Team Liquid also features the exchange platform’s content across their platform. Additionally, Coinbase will also help Team Liquid develop its own non-fungible tokens. NFTs are created with the aim of assigning users ownership of digital assets.
The partnership aims at demystifying crypto for Team Liquid fans. The company’s co-CEO and owner shared that he is excited to help familiarize fans with crypto, which he once thought of a “passing fad.”
This Coinbase x Team Liquid collaboration is not the first crypto x esports collaboration. One such collaboration is the Team SoloMid and FTX collaboration signed in June. This collaboration which is valued at $210 million, is a 10-year deal. Another such collaboration is the Crypto.com and Fanatic collaboration which is worth $10 million.
Coinbase is currently active in competitive gaming. The US-based cryptocurrency exchange platform has deals with BLAST and ESL, both of who are tournament organizers. Additionally, the platform has entered deals with organizations such as Evil Geniuses and BIG.
About Team Liquid
Steve Arhancet, who is also the company’s co-CEO, founded Team Liquid in 2000. The company has reported having more than 100 gamers compete in esports gaming titles. Some of these gaming titles include League of Legends, Fortnite, and Valorant.
More on Coinbase
Coinbase, one of US’ top exchange platforms, reported a drop in the number of their monthly transactions. The users who were 6.1 million a year earlier had increased to 8.8 million. This number, however, dropped to 7.4 million.
The exchange platform’s exchange trading volume also declined from $462 billion to $327 billion. On Wednesday, the company’s shares were trading below $350.