Cryptocurrency trading platform, ByBit has inked a 3 year esports sponsorship deal with both Swedish esports organization Alliance and Danish firm, Astrallis in its drive towards global awareness. The deal, which models similar moves by FTX derivatives exchange is a testament to the growing tilt by major crypto brokerages to the importance of esports.
Both Alliance and Astralis are big names in the esports industry in the European Union. Alliance is a player-owned firm renowned for its participation in Dota 2. Previously a part of Amazon-owned GoodGame agency, the firm became independent back in 2016. Astralis according to media platform Dexerto is traded on the Danish Nasdaq, and fronts proficient players who compete in the Counter Strike: Global Offensive.
“This is a significant deal for Astralis on all levels,” said the org’s co-founder, Jakob Lund Kristensen. “At the same time, the purpose of the agreement and activation around it is almost a perfect match with ours: to champion the positives of gaming.”
The sponsorship deal will see ByBit’s branding being displayed across the orgs’ jerseys, streaming overlays, and social media channels. In addition, the exchange is on track to “take an active part” in carbon neutrality initiatives, financial education, and organizing additional activations for the sponsorship.
ByBit in the Crypto Ecosystem
ByBit has an active representation in today’s digital currency ecosystem. Coingape reported back in November 2020 the floating of the firm’s derivatives products. Additionally, ByBit launched a Cloud Mining product back in May, a product which allows anyone to mine Ethereum (ETH) from as low as $100.
ByBit is also quite prominent in the sports sponsorship arena. Besides attracting world’s top poker legends in its trading competitions, the firm inked a global multi-year partnership with German football giant, Borussia Dortmund.
ByBit is not immune from the regulatory sweep that cryptocurrency exchanges are experiencing the world over. In one of its latest regulatory responses, the firm closed all of its Chinese mobile phone accounts as the government’s crackdown on Bitcoin mining and digital currency related activities intensified back in May.
The recent partnership with Alliance and Astralis further intensified the firm’s push towards getting engrafted into the growing world of digital innovations.
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