Coinbase sponsors Riot Games’ League of Legends, Valorant esports

This is a segment from The Drop newsletter. To read full editions, subscribe . Coinbase is now sponsoring Riot Games for the studio’s League of Legends and Valorant Esports global gaming events. The deal officially starts next month with two esports events in Canada. The first is the Valorant Masters event in Toronto June 7. Coinbase will also be part of the MSI 2025 esports tournament in Vancouver that runs June 27 until July 12. David Mulhall, Riot Games’ global head of esports partnerships and business development, called Coinbase a “perfect addition” to its list of brand partners and said the crypto firm can bring “engagement touchpoints and features that our global esports community appreciates.” Crypto, however, remains a polarizing and controversial topic among gamers, including League of Legends fans . Some gamers like it and some are open to it, while others absolutely despise it, as we’ve seen time and time again when non-crypto video games toy with the idea of crypto integrations or add NFTs to their titles. Coinbase is planning event activations, promotions, awards and other perks in the Riot deal, but the financial terms have not been disclosed. We do know that both parties are heavy hitters in their respective industries: Coinbase made $6.6 billion in revenue last year, while Riot made over $376 million in 2024. Coinbase has sponsored the NBA since 2021. The US exchange also sponsored esports organization Team Liquid (which itself struck a deal with Sui). Other crypto firms have sponsored sports or esports, like Kraken with Williams Racing. Bybit struck a deal with the Brazilian esports organization Made in Brazil (MIBR) in 2022, and Crypto.com signed a five-year partnership with Fnatic in a $15 million deal in 2021, to name a few. But some deals have seen much bigger numbers. FTX struck a $210 million deal with the esports org TSM, but that fell apart in 2022 when the exchange collapsed. The esports industry more broadly has struggled in recent years, spurring an increasing reliance on brand sponsorships and corporate investment to generate revenue. Get the news in your inbox. Explore Blockworks newsletters: Blockworks Daily : Unpacking crypto and the markets. Empire : Crypto news and analysis to start your day. Forward Guidance : The intersection of crypto, macro and policy. 0xResearch : Alpha directly in your inbox. Lightspeed : All things Solana. The Drop : Apps, games, memes and more. Supply Shock : Bitcoin, bitcoin, bitcoin.

Source: Blockworks