2 November 2024
Japan Esports Company Will Pay Salaries In Ripple To Players
SBI esports is a subsidiary of Japanese financial services conglomerate SBI Group and they have recently announced that its esports players would receive salaries in Ripple (XRP) as part of a sponsorship deal with venture capital firm, VC Trade.
As per the official announcement, salaries to players will be paid in crypto instead of fiat with the aim to intensify the company’s presence among esports players who also use digital currencies.
SBI esports and Ripple are long-time partners where SBI said that this sponsorship deal is a way to diversify its portfolio within the blockchain industry. The goal is to “create and nurture a healthy market based on customer-centricity, improve prices, and expand liquidity.”
According to CoinMarketCap, XRP is the fourth largest crypto in the market cap with it holding a market capitalization of $10,827,898,158.
The esports market is rapidly growing seeing its revenue go from $776.4 million back in 2018 to $957.5 million last year. It is expected by 2023, the industry’s revenue is expected to get close to the $1.6 billion marks.
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