U.S. cryptocurrency exchange Coinbase has teamed up with Riot Games, the creator of popular video games League of Legends and Valorant.
The two parties have signed a long-term deal to work together on global esports events for these games, starting with a Valorant event in Toronto in June 2025.
As part of this partnership, Coinbase will connect with fans through social media, ads during game broadcasts, and cool tech features. They’ll also add new segments to the esports shows: one called “Econ Report” for Valorant and another called “Gold Grind” for League of Legends.
Coinbase will also provide viewer rewards like redeemable emotes and icons, as well as promotional opportunities, including all-expenses-paid trips to major competitions.
The company aims to explore Web3 technology to enhance its fans’ experiences. The firm has specific plans that remain under wraps. “We’re looking forward to creating some exciting things on the Web3 front with Riot,” the representative noted, declining to disclose the deal’s financial terms or exact duration beyond confirming its multi-year scope.
Cryptocurrency and esports are increasingly joining forces. In 2021, Riot Games, the makers of League of Legends and Valorant, signed a major deal with crypto company FTX for esports sponsorship.
The deal was reportedly worth $100 million and spanned seven years, focusing on the U.S. leg of League of Legends esports. FTX was aiming to build brand awareness among a younger audience with its crypto products.
The partnership was set to begin in June 2024, but FTX went bankrupt in November 2022, so the deal fell apart. After FTX pulled out, Riot did not have a crypto partner until now with Coinbase.
Another esports team, Team SoloMid (TSM), also had a deal with the crypto company FTX, but it also came to an end when FTX went bankrupt. Despite that setback, the firm did not abandon its interest in crypto.
Earlier this year, the firm began working with a blockchain called Avalanche to develop new projects. These initiatives highlight the ongoing efforts of esports teams to engage with cryptocurrency technology.
