Riot Games, publisher of League of Legends and VALORANT, announced a multi-year partnership with Coinbase, naming the cryptocurrency exchange and blockchain technology firm an exclusive partner for global esports events. The collaboration begins with the VALORANT Champions Tour (VCT) Masters Toronto tournament in June.
The agreement covers Riot Games' top-tier esports competitions, including LoL Esports' Mid-Season Invitational and Worlds Championship, alongside VALORANT Masters and Champions tournaments. This marks Coinbase's entry into a broad, multi-title partnership with a major esports publisher.
Beyond branding, the partnership intends to introduce fan-facing enhancements. These include custom broadcast segments, event activations, hospitality promotions, and giveaways. Examples of planned broadcast integrations are the "Econ Report" in VALORANT Esports and "Gold Grind" in LoL Esports, offering analysis of in-game currency movement.
Crucially, the deal does not involve direct crypto transactions or blockchain features within Riot's games or esports viewing platforms at this time. The initial focus remains on media visibility, content integration, and fan engagement outside of direct gameplay or platform currency use.
The move comes as the esports community holds reservations regarding crypto partnerships, following previous incidents such as the collapse of the FTX exchange, which had a naming rights deal with the TSM organization. Companies involved addressed this skepticism, highlighting the focus on education and transparency.
Gary Sun, vice president of marketing at Coinbase, noted synergies between esports audiences and the next generation of crypto users, stating the company aims for an authentic presence within gaming. Coinbase views the partnership as a step toward building a lasting presence and educating users about blockchain technology.
David Mulhall, head of global esports partnerships and business development at Riot, stated the decision was made after evaluating potential benefits for fans and players, emphasizing Coinbase's established reputation. Riot Games seeks collaborations that enhance the fan experience.
Industry observers suggest that while speculation has impacted crypto's image, the underlying technology offers utility. They argue transparent and careful integration could allow blockchain to coexist with gaming. Addressing past issues, Sun indicated Coinbase seeks to set a high standard for such partnerships. A report detailed the deal aims to integrate branding into some of the world's largest esports events. The partnership follows incidents like the one involving TSM and FTX, raising concerns about the sector.
The partnership expands Coinbase's sports portfolio, which includes existing relationships with other esports organizations and major leagues like the NBA, WNBA, and Formula One.
While Riot has not committed to incorporating blockchain technologies more directly into its ecosystem, the partnership places Coinbase branding within its major esports events, potentially paving the way for future collaboration. "We want to set that high bar with the best brands in any space," Sun said.
