- Gen.G has become the latest esports organization to team up with a crypto organization
- Bithumb and Gen.G will work together on a number of activations and marketing opportunities
- There has been a growing interest by crypto companies who have shown interest in investing in esports space
Gen.G has become the latest esports organization to team up with a cryptocurrency exchange. As a result, Bithumb is now the official crypto partner for the organization’s PUBG and Overwatch teams. No financial details of the deal have been disclosed as interest in esports teams by crypto companies intensifies and more exchanges seek to reach traditional esports fans.
Gen.G Secures Partnership from World of Crypto
Esports fans are generally believed to be savvier than their traditional sports counterparts and are arguably an “easier sell” when it comes to cryptocurrencies because they keep an open mind. Even though most NFTs have been lost on esports fans, crypto exchanges are still making a push. The companies will work together to achieve various strategic collaborations and joined marketing activities.
In an official release, Bithumb states that the esports and cryptocurrency industries have a lot in common. Gen.G CRO Martin Kim welcomed the opportunity to be teaming up with Bithumb.
“Gen.G has been leading the growth of the esports and gaming industries by collaborating with diverse and non-endemic brands.”Gen.G CRO Martin Kim
Kim is confident that crypto and Web 3.0 technology is already making its way across numerous industries, including traditional sports and esports. Thanks to Bithumb, Gen.G has a partner who understands the space and can offer the organization the support and guidance it needs to navigate it.
Bithumb CEO Young Heo added that both industries are growing rapidly and have passionate fan bases:
“Bithumb will actively contribute to the cultural growth and future of this generation, starting with this partnership of top global esports and gaming organization, Gen.G.”Bithumb CEO Young Heo
Sports and Esports Bring Out Crypto Investment
Sports and esports have proven important investments for crypto businesses hungry to garner better recognition and awareness for their businesses. A recent study by Nielsen indicated that ROI in esports organizations could be better than investing in some top-tier sports teams.,
Meanwhile, there have been many moves by crypto companies in esports space. Coinbase teamed up with BLAST Premier to popularize cryptocurrencies in esports. Twitch Rivals undertook a similar partnership with Crypto.com.
Most noteworthy of all was the $210 million deal between Team SoloMid, a North American esports organization, and crypto exchange FTX which paid the sum to be able to rebrand the team as TSM FTX for a period of ten years. This effectively marked the biggest naming rights partnership ever negotiated in the esports space.