A major cryptocurrency exchange is entering esports. Coinbase will sponsor Riot Games’ acclaimed League of Legends and Valorant global tournaments, highlighting an increasing convergence between digital finance and competitive gaming, even as player opinions on crypto remain divided.
Coinbase, a leading platform for digital currency trading, and Riot Games, a renowned video game developer and esports organizer, are central to this development. The fusion of cryptocurrency with gaming has elicited diverse responses, ranging from excitement over novel economic possibilities to apprehension from gamers concerned about potential negative influences on their experiences.
The collaboration will debut next month, initially featuring at two Canadian esports events: Toronto’s Valorant Masters on June 7 and Vancouver’s MSI 2025 tournament from June 27 to July 12. While specific financial details of this agreement remain confidential, both entities are major players, with Coinbase reporting $6.6 billion in revenue last year and Riot Games earning over $376 million in 2024.
Riot Games’ David Mulhall views Coinbase as an ideal partner, anticipating the crypto firm will introduce engaging features appreciated by their worldwide esports audience. Coinbase intends to roll out event activations, special promotions, awards, and other benefits as part of this new sponsorship, adding to its existing sports partnerships like with the NBA since 2021 and esports team Liquid.
Despite such high-profile endorsements, cryptocurrency integration remains contentious within gaming communities, with varied reactions. This sponsorship trend isn’t new; other crypto firms like Kraken and Bybit backed esports. Some deals, like FTX’s $210M TSM partnership, collapsed, highlighting esports’ reliance on corporate investment amidst industry struggles.
