SBI esports, a subsidiary of the Japanese financial services group SBI Group, announced that esports players will receive payments in Ripple (XRP) as part of a sponsorship agreement with the venture capital firm VC Trade.
According to the official announcement, player salaries will be paid in cryptocurrencies instead of legal currencies to increase the company’s presence among sports players who also use digital currencies.
SBI esports, a longtime partner of Ripple, said this sponsorship deal is a way to diversify its portfolio in the blockchain industry. Their goal is “to create and develop a healthier market based on customer focus, improved prices and increased liquidity.”
According to CoinMarketCap, XRP has a market value of $ 10,827,898,158 at the time of publication, making it the fourth largest cryptocurrency in the market value category.
In 2019, the Ripple Project Xpring developer ecosystem and the Forte gaming blockchain platform created a $ 100 million fund to support game developers.
Mac Ocampo, head of growth at blockchain entertainment studio Virtually Human Studio, previously complained to Cointelegraph that “not all players are cryptocurrency traders, and not all cryptocurrency traders are players” – which, in his opinion, was a major problem for the gaming industry. …