It is a big day with the opportunity for grand moves in the esports world, and Riot just announced the icing on the cake of a partnership! Officially, the contract over affiliating VALORANT Esports and Riot Games with League of Legends Esports with Coinbase as the “exclusive cryptocurrency exchange and blockchain technology partner” is signed. Since the big bag of cash that crypto poured on esports is emptying fast, you surely cannot miss the opportunity!
So what really is on the table? First of all, we basically know for sure Coinbase is going to be flashing up the Riot esports broadcasts, esports events, and if I were to make a wild guess, in-game locations. This is no ordinary sponsorship though; rather, it is a tech partnership, and there could be some blockchain integration further down the line. NFT for in-game items? Crypto to payout tournament winners? The possibilities even seem a bit wild to paint.
Riot has sort of sneaky been flirting with crypto for a while now. Have you considered the fact that they were already testing NFT rewards for League in select territories? Or was it just that VALORANT’s skin economy just felt like a mini stock market for digital commodities, maybe? This Coinbase arrangement feels like a sure next step if esports money really starts flowing this way.
Though, not everybody is chuffed about it. Crypto in gaming has been… quite a celestial controversy, you’d say. Ranging from the backlash against NFTs, outright scams, to market crashes, skepticism goes a long way. However, Riot is clearly betting big on this, and with practically two of the biggest esports scenes in the world, i.e., LoL and VALORANT, this has a loud voice.
The question then arises: How is the audience going to embrace this? Development of the hype though: Gamers and crypto bros do not always mix so well, and if this project comes off as a cash grab, the backlash will hit them quicker than they can blink an eye. However, if Riot does play it well (for example, making crypto rewards optional instead of putting and forcing it in every player’s face), it might work out well.
Before these conspiracy theories heat up—No, this does not mean VALORANT skins are now becoming NFTs. At least not yet. But now that blockchain is an official part of Riot’s esports ecosystem, who knows what comes next?
One thing we know for sure—this is way bigger than just another sponsor logo on a jersey. Crypto is knocking on gaming’s door, and Riot just let it in. Buckle up.
Side note: How long would it take before “Pay in Bitcoin” shows for those $100 VALORANT skin bundles? Too soon? Yeah, probably too soon.
Anyway, catch this if the esports or crypto, or maybe both, interests you. This either may be the beginning of something big or the worst thing ever. Either way, fun to watch.
