- The India-based organization Stalwart Esports is set to start using cryptocurrency in its balance sheet and for salary payments
- Zeyan Shafiq, the organization's founder, explains why Stalwart Esports is making such a bold move.
- Stalwart Esports unveils their new PUBG Cellular team, which is to be paid with the novel method
Stalwart Esports has announced in a recent press release that it has fully shifted from cash to cryptocurrency in its balance sheet. All salary payments for players and support staff will be made through crypto.
Why Is the Organization Doing This?
“We believe crypto is the future, and there's a lot of scope of blockchain tech with esports,” Shafiq said in an exclusive commentary for Dot Esports. He also added that one other “main reason” is that Stalwart will be launching its fan crypto token later this year. The plan is for the organization's supporters to be able to use this for buying merchandise and trading.
Shafiq additionally outlined a few other advantages of completely shifting to cryptocurrency – speed of transactions. He gave an example that now the organization is able to send money from India to Mongolia in less than 10 minutes, thus making the whole process faster and even cheaper because of the lack of fees (or presence of very small fees).
When asked what the players and employees thought of the shift, Shafiq said that all of them were interested in accepting their payments in crypto because it is a lot more time-efficient and easy to use. “They'll anytime swap it to fiat foreign money by promoting the cryptos by way of P2P,” he added.
All of this comes at a time when the government of India is reportedly considering a ban on cryptocurrency.
Just in Time for Stalwart's New PUBG Mobile Team
Astra Academy is a Mongolian-based roster of professional players who won the PUBG Mobile Pro League (PMPL) South Asia Championship last June. The group includes Bilguutei “Skryyy2a” Bayasgalan, Burenbayar “Top2a” Altangerel, UnuBold “Pika2a” Erkhembayar, Suhbat “Action2a” Galtsalam, Jargalsaikhan “Senator2a” Batkhurel, and Apex2a, who are now all switching to the Stalwart IP.
Stalwart claimed that their new crew has now become the highest-paid team in South Asian PUBG Mobile esports (excluding India). The total salary for the players in a year is $50,000, Shafiq said. The players will also get special perks and monetary bonuses per month based on how well they perform. Of course, all payments will be made using the new method.