Team Liquid, an esports and gaming company that competes in games such as League of Legends and Fortnite, has signed a four-year deal with Coinbase.
Team Liquid stated the cooperation with the US-based crypto exchange will be aimed at promoting “the convergence between gaming and crypto-curious consumers” as well as developing new supposedly crypto-focused content in a statement released on Wednesday. Team Liquid’s online marketplace will be able to accept cryptocurrency payments, and the two companies will collaborate on technology to encourage fan involvement.
“Like many of our fans, crypto was foreign to me at first, but as I started reading and watching, I understood it wasn’t a fad — it’s here now and will be in the future,” said Steve Arhancet, Team Liquid’s owner and co-CEO. “We intend to demystify cryptocurrency for Team Liquid fans with the help of Coinbase.”
Team Liquid, which was founded in 2000, claims to have over 100 players competing in esports games such as Fortnite, League of Legends, and Valorant. Coinbase will have its logo on the team’s shirts, and it may be contributing to the development of nonfungible coins that can be used across several gaming platforms.
Major cryptocurrency exchanges that support professional esports teams are already competing. FTX announced in June that it has inked a seven-year sponsorship contract with the League Championship Series, or LCS, for League of Legends and other gaming tournaments.
However, due to a previously negotiated agreement between FTX and Team SoloMid in June, Riot Games — the creator of League of Leagues — barred the team from using the crypto exchange’s emblem in Riot-hosted contests. It’s unclear whether Coinbase plans to have its logo on Team Liquid’s jerseys.