The gaming world meets the crypto universe. SBI e-Sports has just hired two professional players and will pay all their salaries in XRP.
Japanese financial services group SBI Holdings is not playing easy when it comes to e-Sports. Not only is it investing heavily in its team, but SBI also hopes to seize the opportunity to drive crypto-verse growth.
To reinforce its presence on the gaming scene, SBI e-Sports – a professional e-Sports team sponsored by the financial giant – announced the hiring of two players: Subaru Sagano, also known as Mickey; and Kenji Suzuki, also known as Ken.
According to the announcements, both players will receive their salaries entirely in XRP, the cryptocurrency that powers the Ripple ecosystem.
“In addition, Mikey and Ken’s annual salary will be paid in“ XRP ”instead of Japanese yen, based on the player’s wishes and the sponsorship contract with SBIVC Trade Co.”
SBI takes advantage of the e-sports opportunity to drive XRP adoption
Everything points to a strategy to promote the use of XRP. Since September 2020, when SBI e-Sports announced a sponsorship contract with SBI VC Trade Co., Ltd, both parties hinted at their pro-XRP intentions when they specified that “if a player at” SBI e-Sports “wants their annual salary they will be paid by the crypto asset XRP. “
Mikey and Ken shared their enthusiasm in social media, saying they are willing to do their best to help SBI e-Sports grow. They did not go into details about their salaries in XRP, although they did explicitly say that they agreed to receive their salary in cryptocurrencies.
In addition to e-Sports, SBI promotes the use of other crypto products such as the “Cool X Wallet” cold wallet and the VCTRADE SP mobile trading app. But the team made it clear that their aspirations go far beyond this:
“In addition, as an innovator who creates service businesses using cryptocurrencies… we intend to develop and nurture a healthy market based on customer centricity, improved prices, expanding liquidity, etc.”
Investing in the big picture
For SBI Holdings, blockchain is not a game. In early October 2020, its e-Sports division announced its intentions to launch a security token (STO) offering. The offer, which would seek to raise 50 million yen, is expected to close on October 30, 2020.
SBI believes that this new development can boost its business model, helping to raise funds, try new things, create new products, etc. The official announcement says that the SBI hopes to revitalize the capital market and develop the real economy with the spread of OSTs in Japan.
SBI has a direct interest in the growth of the Ripple ecosystem – and, of course, the adoption of its XRP token. The company maintains a commercial partnership with startup Ripple and has already delivered the XRP to shareholders with more than 1000 shares.