From non-fungible tokens to a $210 million deal for the naming rights of Team SoloMid, the crypto world seems interested in esports. A new partnership between cryptocurrency wallet Exodus and online sports and crypto betting platform SportX platform attests to that.
The wallet has now been integrated with the platform, allowing players to place wagers on various esports competitions using smart contracts technology based on the Polygon blockchain network.
As a result, Exodus’ one million user base will have access to a range of esports markets that cover all popular video game titles, along with all major esports competitions around the world and all year long.
Easy Conversion for Nearly 140 Cryptocurrencies
SportX and Exodus have agreed on a $5 minimum bet which is placed in USDC, or USD Coin. Exodus further allows players to exchange their USDC for any of the 138 cryptocurrencies currently supported by the wallet.
SportX operates as a fully licensed operator, which can run operations in places such as Canada, South America, most of Europe, and Asia, with a few regulatory exceptions. Commenting on this partnership, Exodus CEO and co-founder JP Richardson added:
“Many sports and esports fans are already such a big part of the global DeFi community, it seemed an obvious next step to bring them together in a single experience.”
Exodus CEO and co-founder JP Richardson
The opportunity to bet on esports using cryptocurrencies is not entirely new in esports space. Websites such as GosuGamers and JoinDOTA have allowed esports fans to bet using special “mock currencies” for decades. The difference is that cryptocurrencies have real FIAT value.
Crypto Companies Seek Value in Esports
FTX sealed a $210 million naming rights deal with Team SoloMid and rebranded it as TSM FTX as one of the most ambitious moves into esports space. The ability to place a bet on esports competitions has been championed by numerous organizations.
Cloudbet and Sportsbet.io have both maintained a healthy esports platform. Bitcasino.io recently partnered with another esports powerhouse, Evil Geniuses, and introduced a dedicated esports betting platform as part of its offer.
The Exodus wallet is just another step in the mass adoption of cryptocurrency technology as part of the esports ecosystem. SportX has a dedicated app that facilitates the esports betting experience for fans.
