Esports tournament organizer FACEIT has secured a "multi-million" dollar partnership with Cake DeFi. The deal's exact information has not been released yet, but the agreement allows players to earn cryptocurrency rewards for participating in FACEIT matches. Cake DeFi will also aid FACEIT in organizing challenges and tournaments in the future.
This collaboration marks the first time a cryptocurrency company has ventured into the gaming industry, allowing the company to access the FACEIT platform and its users.
Cake DeFi is also known for its rewards program that pays out to crypto users. The companies plan to pay out more than half a million dollars to FACEIT users for completing challenges and games in 2022.
Michele Attisani from FACEIT added: "The FACEIT platform is home to the largest community of competitive gamers, which means we have a unique understanding of this audience. Our users are incredibly forward-thinking and educated when it comes to crypto, so the partnership we chose had to bring tangible and substantial value to be of interest."
Cryptocurrency Gaming Partnerships
FACEIT and CakeDeFi Partner to Bring Cryptocurrency to Gaming
Trend Themes
1. Crypto Rewards in Gaming - Integrating cryptocurrency rewards in gaming can drive user engagement and create new revenue streams for gaming companies.
2. Partnerships Between Crypto and Gaming - Partnerships between crypto companies and gaming platforms can create opportunities for mutual growth and expansion into new markets.
3. Blockchain in Esports - Blockchain technology can enhance esports tournaments by providing transparency, security, and fair reward distribution, creating a more inclusive ecosystem.
Industry Implications
1. Cryptocurrency Industry - Partnering with gaming companies presents a new opportunity for crypto companies to access a wider user base and expand their brand through sponsorships and rewards programs.
2. Gaming Industry - Integrating cryptocurrency rewards can create a new revenue stream for gaming companies by incentivizing user engagement and loyalty.
3. Esports Industry - Blockchain technology can revolutionize esports by providing secure, transparent, and fair reward distribution, improving the ecosystem for players and fans alike.