Multinational esports organisation Gen.G has announced a partnership with South Korean cryptocurrency exchange Bithumb.
The partnership will see Bithumb sponsor Gen.G’s PUBG and Overwatch teams. Financial terms of the partnership were not disclosed.
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As a result of the deal, both parties will collaborate on various strategic collaborations, including promoting joint marketing activities and creating experiences that ‘bridge the growing esports and the cryptocurrency industries’.
Alongside competing under its own name across a range of titles, Gen.G is also the owner of Overwatch League franchise Seoul Dynasty.
Martin Kim, Chief Revenue Officer of Gen.G, spoke on the announcement in a release: “Gen.G has been leading the growth of the esports and gaming industries by collaborating with diverse and non-endemic brands.
“The Web 3.0 wave has reached all sports, both esports and traditional, but there’s still much work to be done to get it right. We needed to find a partner who understood this space and could help us navigate the blockchain landscape so we are thrilled to partner with an industry leader like Bithumb.”
Launched in 2014, Bithumb is a digital currency exchange based in South Korea. According to the release, the exchange has a cumulative transaction volume reportedly exceeding $1tn (~£744.9Bn).
Bithumb joins the likes of PUMA, ROCCAT, LG Ultragear, SIDIZ gaming chairs and Monster Energy as a partner of the esports organisation.
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Young Heo, CEO of Bithumb, commented: “Both virtual assets and esports are rapidly growing industries that are led by the passionate up and coming generations.
“Bithumb will actively contribute to the cultural growth and future of this generation, starting with this partnership of top global esports and gaming organisation, Gen.G.”
Esports Insider says: Despite the recent crypto crash, the trend of signing partnerships with cryptocurrency companies doesn’t seem to be slowing down. Gen.G is the latest organisation to jump on the bandwagon, choosing a proven crypto exchange within South Korea as its partner.