Team Liquid, the e-sports and gaming organization operating across major titles including League of Legends and Fortnite, has signed a four-year partnership agreement with Coinbase, for an undisclosed amount.
In a Wednesday announcement, Team Liquid stated that the new partnership Coinbase would be aimed at highlighting “the crossover between gaming and crypto-curious audiences” as well as creating new seemingly crypto-focused content.
The announcement explains that Coinbase will be enabling crypto payments for Team Liquid’s online marketplace, and both will be collaborating on technology aimed at encouraging fan engagement.
What you should know
Team Liquid was founded in 2000 and it is reported to have more than 100 gamers competing in esports gaming titles including Fortnite, League of Legends and Valorant.
The partnership will see Coinbase integrate into the org’s Liquid+ community platform, provide crypto-based payment opportunities on their store and feature their branding across jerseys and content.
As previously mentioned, Coinbase will have its logo and information appear on the organization’s jerseys and help Team Liquid work towards the development of their non-fungible tokens (NFTs) used across gaming platforms.
What they are saying
Team Liquid owner and co-CEO Steve Arhancet stated, “When we were looking for a potential partner in the crypto space, it was really important that we found someone that was doing it the right way, the Team Liquid way. The more we learned about Coinbase, the more certain we became that this was the partner we were looking for. Like a lot of our fans, crypto was new to me once, but once I started reading and watching, I realized that it wasn’t some passing fad — it’s here now and will be in the future. Together with Coinbase, we hope we can demystify crypto for Team Liquid fans.”
Although this is Coinbase’s first gaming partnership, there is already some competition between major cryptocurrency exchanges backing professional esports teams. In June, FTX announced it had signed a seven-year sponsorship deal with League Championship Series (LCS) for League of Legends and other gaming competitions.
COIN trades $334, down 6.60% as of the time of this writing