Just an advertising stunt or an intelligent method to increase awareness and adoption of cryptocurrency?
SBI e-Sports, a subsidiary of Japanese financial services giant SBI Group, has announced that players in its e-sport teams will receive their salaries in Ripple (XRP) under a sponsorship agreement with venture capital firm VC Trade.
According to the official announcement, salaries will be paid in crypto instead Immediate edge scam of fiat currencies, in order to strengthen the company’s reputation among e-sport players who also use digital currencies.
SBI e-Sports, Ripple’s long-standing partner, said this sponsorship agreement is a way to diversify its portfolio within the blockchain world. The aim is to „create and nurture a strong market based on customer focus, price improvement and liquidity expansion“.
At the time of publication of this article, XRP holds a market cap of nearly $11 billion: according to CoinMarketCap data, it is currently the world’s fourth crypto by capitalization.
In 2019, the Xpring project, the developer ecosystem of Ripple, and Forte, a blockchain gaming platform, created a $100 million fund to support game developers.
Mac Ocampo, Head of Growth at blockchain Virtually Human Studio, previously told Cointelegraph that „not all gamers are crypto traders, and not all crypto traders are gamers. In his opinion, this factor will certainly be relevant to the future of the gaming industry.