- Team Spirit becomes the second esports team in so many days to receive a crypto sponsorship
- Bitget operates out of Singapore and is a licensed crypto exchange seeking to expand to new audiences
- Russia’s own precarious state of crypto regulation make it hard to predict the future of the industry
Team Spirit has teamed up with Bitget, a Singapore-based cryptocurrency exchange. The partnership marks yet another instance whereby esports organizations are teaming with cryptocurrency companies.
Activating Fan Engagement and Boosting Reach
Operating out of Singapore is just one of Bitget’s credentials The jurisdiction is arguably one of the toughest places to set up your crypto business legitimately, which points to Bitget’s track record. Moving forward, Team Spirit will have Bitget’s logo featured on its player jerseys. The companies will collaborate on a range of experiences and work on a number of in-game and social media activations.
Those will include trading competitions, various promotions, and giveaways. Similar to other partnerships between crypto organizations and esports teams, Team Spirit will help educate its fans on cryptocurrency. Team Spirit is a Russian-based team and Russia has recently been talking up the possibility of completely suspending crypto in the country.
In other words, crypto may become prohibited, which indicates that Bitget feels confident enough to pursue this partnership regardless the precarious state of regulation right now. Team Spirit CEO Nikita Chukalin commented on the partnership:
“We’re glad that the most progressive companies are becoming our partners. Bitget is undoubtedly a future-oriented company that perfectly aligns with our values. Esports and cryptocurrency, things that seemed surreal not so long ago, are an integral part of our lives now. We at Team Spirit are looking forward to our future collaborations with Bitget.”Team Spirit CEO Nikita Chukalin
Bitget Has Sought Out Esports Partnerships Before
Bitget, though, is not easily dissuaded. The company has teamed up with numerous esports entities in the past. Most prominently, they joined forces with PGL, an esports production company. Bitget CEO Sandra Lou argued that Team Spirit showed the qualities and core values that the exchange itself stood by.
“We believe that our partnership can help people familiarize themselves with the crypto industry and expose esports enthusiasts to the investment opportunities provided by cryptocurrencies,” Lou added.
This partnership was announced just hours of a similar collaboration between Gen.G and Bithumb. Crypto exchanges have been some of the main companies to try and enter the esports space. They have found similarities between their targeted audiences, with many Gen Z and Millennial consumers being interested in – or in the very least receptive of – both industries.
Team SoloMid even changed its name to TSM.FTX after it received a $210-million naming rights buyout by crypto exchange FTX. The partnership is set to last ten years.