SBI esports, a subsidiary of Japanese monetary providers conglomerate SBI Group, introduced that its esports gamers would obtain salaries in Ripple (XRP) going ahead as a part of a sponsorship take care of enterprise capital agency, VC Commerce.
In response to the official announcement, participant salaries shall be paid by way of crypto as an alternative of fiat with a view to strengthen the corporate’s presence amongst esports gamers who additionally use digital currencies.
SBI esports, which is a long-time Ripple accomplice, stated that this sponsorship deal is a technique to diversify its portfolio throughout the blockchain business. Their aim is to “create and nurture a wholesome market primarily based on customer-centricity, enhance costs, and broaden liquidity.”
As of press time, XRP holds a market capitalization of $10,827,898,158, making it the fourth largest crypto within the class of market cap, based on CoinMarketCap.
Again in 2019, Ripple’s developer ecosystem, Challenge Xpring, and the game-centric blockchain platform, Forte, collectively established a $100 million fund to help recreation builders.
Mac Ocampo, head of development at blockchain leisure studio Just about Human Studio, beforehand lamented to Cointelegraph that “not all avid gamers are crypto merchants, and never all crypto merchants are avid gamers” — one thing he felt was a major challenge faced by the gaming industry.