Coinbase Partners with Riot Games for League of Legends and Valorant Events
Coinbase has secured a sponsorship deal with Riot Games for its League of Legends and Valorant esports events.
- The partnership begins next month, featuring the Valorant Masters in Toronto on June 7 and the MSI 2025 tournament in Vancouver from June 27 to July 12.
- David Mulhall from Riot Games described Coinbase as an ideal addition to their brand partners for enhancing community engagement.
- Responses from gamers to crypto integration are mixed; while some embrace it, others strongly oppose it.
- Specific financial terms of the deal have not been disclosed.
- Coinbase generated $6.6 billion in revenue last year; Riot Games reported over $376 million in revenue for 2024.
- This is not Coinbase's first venture into sponsorships; they have previously partnered with the NBA and esports organization Team Liquid.
- Other crypto firms have also engaged in esports sponsorships, including Kraken and Bybit, but some high-profile deals, like FTX's $210 million agreement with TSM, collapsed following the exchange's downfall.
- The esports industry has faced challenges in recent years, increasing reliance on sponsorships for revenue generation.