Team Liquid Launches $20K Crypto Esports Series

Team Liquid, a powerhouse in the esports arena, is set to revolutionize the industry this summer. In collaboration with Community Gaming, they are introducing a $20,000 tournament series, leveraging the precision and speed of cryptocurrency for prize distributions. This partnership marks a significant milestone, especially with the integration of USDC, a stablecoin that mirrors the U.S. dollar, utilizing Ethereum’s layer-2 scaling solution, Base.

The North American series will encompass four events, meticulously divided between two popular games: Teamfight Tactics and Hearthstone. This structured arrangement not only enhances competitive diversity but also ensures a broad appeal across different gaming communities. The prize payouts in USDC emphasize the potential of crypto to streamline transactions within the esports ecosystem.

One of the primary goals of this series is to exhibit the practical benefits of crypto payments in esports. The use of cryptocurrency facilitates automatic, prompt prize money transfers post-competition, a feature strongly advocated by industry experts as a step towards modernizing payment systems in esports. Community Gaming’s CEO, Chris Gonsalves, highlighted the efficiency of their automated payment system, which promises fast, secure, and transparent transactions, addressing common issues like late payments and high transaction fees prevalent in the esports sector.

This tournament is a part of the On-Chain Summer II initiative, spearheaded by Coinbase’s Base network. The initiative aims to familiarize more people with blockchain technology, enhancing transparency and financial efficiency. The scheduled dates for Teamfight Tactics are June 29-30 and July 13-14, with Hearthstone following on July 27-28 and August 17-18. Each event guarantees a $5,000 prize pool, directly benefitting the victors.

Jesse Pollak, the creator of Base, emphasized the financial advantages of using USDC on their platform. He pointed out the significant savings on transaction fees and middlemen, which should ideally increase the earnings flowing directly to the players. “Esports is a billion-dollar industry. Imagine how much money is lost to pay fees and intermediaries, but should be going directly to the players,” he remarked.

This series not only highlights the synergy between esports and advanced payment technologies but also sets a precedent for other organizations to follow. By harnessing the power of blockchain, Team Liquid and Community Gaming are paving the way for a more efficient and player-centric payout system in the competitive gaming world.