Dubai-based esports organisation Galaxy Racer has secured a partnership with cryptocurrency company QUINT.
The agreement sees Galaxy Racer invest $25m (~£19.78m) into QUINT’s cryptocurrency ecosystem. QUINT’s token will be integrated into the organisation’s structure, including its website’s payment system, within its tournaments and events, as well as through Galaxy Racer’s merchandising division.
In addition, the cryptocurrency company has become Galaxy Racer’s native ecosystem token partner. One facet of the deal includes the creation of an ‘educational content series’ around cryptocurrency and web3 for the esports organisation’s fanbase and the wider community.
According to the release, Galaxy Racer’s integration of the QUINT token will allow the organisation to utilise its technology and support ‘future initiatives and infrastructure development’.
Paul Roy, Founder and CEO of Galaxy Racer, commented: “We are thrilled to announce our investment and partnership with The Quint Ecosystem’s revolutionary token, QUINT. For years we have been approached by many cryptocurrency companies, coins and projects all hoping to partner with us as we continue to grow and expand globally.
“We wanted to invest and partner with a company that had an industry-leading team and technology behind them – which we strongly believe is The Quint Ecosystem.”
This is not the first time in 2022 that Galaxy Racer has invested in an emerging space. In January, the esports organisation announced a projected investment of $10m (~£7.28m) into the Malaysian esports ecosystem. Additionally, the Galaxy Racer has expanded its presence in North America and Pakistan.
QUINT is a cryptocurrency ecosystem that looks to utilise real-world rewards and incentives through the creation and backing of physical assets. As such, investors are rewarded with real-world benefits through super-staking pools. This includes raffle awards such as Bored Ape NFTs and Hublot Big Bang timepieces, as well as fractional ownership of high-yield real-life assets.
Alongside the pools, the QUINT’s ecosystem also includes an NFT marketplace, a merchandise shop and an ‘esports element’, which is expected to be bolstered due to Galaxy Racer’s agreement.
Esports Insider says: This is a major agreement within the cryptocurrency and esports sector. Galaxy Racer has invested a significant portion of capital into QUINT, so it’ll be intriguing to see how much the crypto company will be integrated into the organisation’s structure. Both companies seemingly have a lot of plans in motion, with the execution of these projects paramount to the partnership’s success.