Singapore – With cryptocurrencies being well-known across mainstream sectors and industries, many organizations and brands across the world are slowly favoring these virtual currencies as part of the new economy.
This is evident with the latest endeavor from SG-based cryptocurrency platform Coinhako as it made its first ever cryptocurrency sponsorship to esports team ALMGHTY using Ethereum, one of the well-known cryptocurrencies globally.
Ethereum is the world’s second largest cryptocurrency by means of market capitalization, following Bitcoin. Said sponsorship, which is also the first-ever cryptocurrency-funded esports sponsorship in Singapore, will run from July 2021 until the next esports cycle in July 2022.
The sponsorship will see ALMGHTY leverage the large regional fanbases of their players on social media to drive Coinhako’s presence throughout Southeast Asia. This will cover Twitch streams, Facebook and Instagram content by the ALMGHTY team and players. The official FY 21/22 ALMGHTY jersey for the players will also sport the Coinhako logo.
ALMGHTY, an esports team primarily playing Mobile Legends, is managed by global digital talent and marketing group Gushcloud International and its gaming talent management unit, Nixgen Entertainment.
The team is composed of 17-year old Gerrard Ng Zheng Wei(Nexqt); 18-year old Javier Tan (Sky); 19-year old Chai Mun Jun (Jun); 22-year old Foo Jieyu (Risen); and 17-year old Randall Tay Guan Pin (Bush). They enjoy a dedicated regional social media and live streaming following as a group, with more than 11 million fans in Southeast Asia alone.
For Yusho Liu, co-founder and CEO at Coinhako, the sponsorship will provide a boost in reaching a younger, mobile-first generation, and raising awareness through talented players in Singapore’s gaming industry. He added that this is part of the platform’s focus to move forward in making cryptocurrencies accessible throughout Asia.
“The decision to embark on the first cryptocurrency funded sponsorship in esports, and the first by a crypto firm in Singapore, wasn’t a difficult one to make as it merges two of the hottest topics of 2021, i.e. cryptocurrencies and e-sports. Furthermore, as a homegrown company, we believe in supporting local talents which make Singapore proud on the regional stage. The multi-talented ALMGHTY squad certainly embodies these elements and Coinhako is excited to embark on this sponsorship with ALMGHTY,” Liu stated.
Joanne Liew, chief studios and entertainment officer at Gushcloud, also commented, “ALMGHTY is proud to welcome Coinhako onboard as our first cryptocurrency sponsor in Singapore. Gaming and cryptocurrency share a lot of similarities, with a heavily tech-driven user base. In line with Coinhako’s position as the Lion City’s leading crypto trading platform, the ALMGHTY team is equally driven to emerge as winners, together reaching a younger audience base.”
Collaborations between cryptocurrency giants and the sports industry have risen in popularity over the past few months, including Coinbase and first-player shooter (FPS) game CS:GO, mixed martial arts (MMA) company UFC and Crypto.com, to name a few.