Japanese eSports company will pay its players in XRP

Will this ultimately be an important step towards mass adoption or an advertising strategy?

SBI e-Sports, a subsidiary of Japan’s financial services conglomerate, SBI Group, announced that its e-Sports players would receive salaries at Ripple (XRP) in the future as part of a sponsorship agreement with the venture capital firm, VC Trade.

According to the official announcement, the players‘ salaries will be paid in crypto-currency instead of fiat, in order to strengthen the company’s presence among e-Sports players who also use digital currencies.

SBI e-Sports, which is a long-time partner of Crypto Comeback Pro, said this sponsorship agreement is a way to diversify its portfolio within the blockchain industry. It aims to „create and nurture a healthy marketplace based on customer focus, improve pricing and expand liquidity“.

As of this writing, XRP has a market capitalisation of USD 10,827,898,158, making it the fourth largest cryptomarket in the market capitalisation category, according to CoinMarketCap.

In 2019, Ripple’s developer ecosystem, Project Xpring, and the video game focused blockchain platform, Forte, jointly established a USD 100 million fund to support video game developers.

Mac Ocampo, head of growth for the Blockchain entertainment studio, Virtually Human Studio, previously lamented to Cointelegraph that „not all gamers are crypto traders and not all crypto traders are gamers,“ which he said was a major challenge for the video game industry.