SBI e-Sports, a subsidiary of the Japanese financial services conglomerate, SBI Group announced that their esports player salaries will be paid in Ripple (XRP). as part of a sponsorship contract with the venture capital company VC trade.
According to him official announcement, player salaries will be paid with cryptocurrencies instead of fiat, to strengthen the company’s presence with esports players who also use digital currencies.
SBI e-Sports, a longtime Ripple partner, said this endorsement deal represents an opportunity to diversify its portfolio within the blockchain industry. The aim is to “create and maintain a healthy market based on customer orientation, improve prices and increase liquidity”.
At the time of this writing XRP has a market cap of $ 10,827,898,158, making it the fourth largest cryptocurrency in the market cap category. according to CoinMarketCap.
In 2019, Ripple’s developer ecosystem became Project Xpring and video game-focused blockchain platform Forte Together they created a $ 100 million fund to help video game developers.
Mac Ocampo, Growth leader of the entertainment studio Blockchain, Practically human studio, previously Cointelegraph complained that “Not all gamers are cryptocurrency traders and not all cryptocurrency traders are gamblers,” which he felt was a major challenge for the video game industry.