SBI eSports Signs Pro FIFA and Super Smash Bros Ultimate Players; Will Be Paid in XRP

SBI eSports, a subsidiary gaming venture of Japanese financial giant SBI Holdings, has signed two professional players to its e-team. In an official announcement made on 16th October, the SBI e-sports subsidiary also revealed that they would be paying its player’s salaries in XRP.

Back in September, the firm revealed that they were planning on paying their player’s salaries in cryptocurrencies. The official announcement read,

“The company aims to raise awareness of the SBI Group by strengthening contact points with the digital generation, and to create synergies with the various financial services businesses of the SBI Group.”

The payment of salary in the digital token would be facilitated via SBI’s crypto-asset trading division called SBI VC Trade. However, the final decision to accept salaries in XRP tokens would lie in the players’ hands. The official signing read,

“Players will be paid in the crypto asset ‘XRP’ instead of Japanese yen based on the wishes of the player and the sponsorship contract with SBI VC Trade Co., Ltd.”

The two pro players signed by the SBI eSports include one of Japan’s top pros in the Nintendo Switch fighting game, Super Smash Bros, Ultimate player Kenji “Ken” Suzuki, and FIFA 21 player Subaru “Mikey” Sagano, who has represented the German soccer club 1. FC Nürnberg.

The signings made by the SBI e-Sports is one of a kind because of the digital asset salary clause, which was not only highlighted in the official announcement but also in the personal tweets made by the signed players.

SBI to Conduct a Security Token Offering for SBI eSports

The SBI Group is also set to conduct a security token offering for the eSports subsidiary expected to occur on October 30. The offering would see 1000 total shares up for grabs valued at 50,000 yen (about $475) per share.

SBI Group is a Ripple partner and one of the significant stakeholders in the digital asset firm.

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Author: James W

SBI Holding’s eSports Subsidiary to Pay Gamers in Ripple’s XRP In Sponsorship Deal with VC Trade

  • A Japanese firm to pay its e-sports players in XRP.
  • This aims to target the digitally-focused individuals in the e-sports industry.

SBI e-sports, a subsidiary to Japanese conglomerate SBI Group, announced a strategic partnership with the group’s venture capital wing, SBI VC Trade Co., Ltd. The partnership will set in a new digital-focused mindset to the e-sports wing, with SBI eSport’s players set to be paid annual salaries in the fourth largest digital asset, XRP.

This is a voluntary option to players who wish to enter into the cryptocurrency ecosystem; the statement read:

“Through this partnership, if a player belonging to ‘SBI e-Sports’ wishes to do so, the annual salary will be paid by the crypto asset ‘XRP’”

SBI Group Holdings is a partner with XRP’s top custodian, Ripple, and takes significant steps in the crypto and blockchain scene. Its venture capital wing deals with digital assets and exchanges to provide a reliable, safe, and secure platform to transact and store assets to their institutional and retail investors.

The addition of XRP to its eSports wing aims to diversify its holdings and provide a gateway for digital asset users. VC Trade statement on the partnership reads,

“We aim to create and nurture a healthy market based on customer-centricity, improve prices, expand liquidity, etc.”

SBI Holdings entered the gaming scene with its eSports platform. Ripple also has had previous ties in the gaming industry. In March 2019, BEG reported Ripple For Developers, a group leading development on Ripple, announced a $100 million fund for Forte developers, a blockchain-based gaming platform.

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Author: Lujan Odera

SEC Hits eSports Platform With $6.1M Penalty For An Unregistered ICO; Hester Peirce Dissents

Quick Read:

  • SEC charges the e-sports gaming platform, Unikrn, for “conducting an unregistered initial coin offering (ICO)” in 2017.
  • The e-sports firm agreed to pay a $6.1 million fine without admitting or denying the charges.
  • Notable investors include Shark Tank & Dallas Mavericks Owner Mark Cuban, Ashton Kutcher, and Ethereum Co-Founder Anthony Di Lorio.
  • SEC Commissioner, Heister Pierce, filed a statement of dissent stating the company was not charged for any fraud.

On September 15, the U.S. Securities Exchange Commission (SEC) charged Seattle-based eSports gaming firm, Unikrn, for conducting an unregulated ICO between June and October 2017. The statement from SEC claims Unikrn made an ICO raise of $31 million from selling its native UnikoinGold (UKG) token, promising to add more features to the gaming platform and providing more utilities to the UKG token.

However, three years ago, the authorities find the sale of UKG as a violation of registration laws. SEC finds Unikrn guilty of not registering the token through it as UKG represents an investment contract. The statement reads,

“The order finds that Unikrn offered and sold UKG as investment contracts, which constituted securities, yet failed to register the offering or qualify for an exemption.”

According to Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit, failure to follow the registration laws impedes the market rules hence “harming investors and [the] markets.”

Unikrn has since accepted to pay the $6.1 million penalty imposed by the SEC – a substantial amount of all company funds – without admitting or denying any wrongdoings. The fine will then be distributed to all UKG investors through a Fair Fund. Unikn also agreed to disable any buying, selling, and use of the UKG token by Sept. 25th. Littman said,

“This resolution allows us to return all of Unikrn’s assets substantially to already-harmed investors and includes measures to prevent future sales to retail investors, including the disabling of the tokens.”

Speaking to Coindesk, Rahul Sood, CEO of Unikrn, said they had been working with the SEC to find a resolution on moving the business forward. He further stated the discontinuation of UKG services would help the company focus on building better products in the future. He said,

“The common ground we found requires Unikrn to completely stop supporting UKG and help provide a fund for purchasers of UnikoinGold. This gives us clearance to focus on continuing to build our industry-leading business.”

Crypto mom files statement of dissent

SEC Commissioner and crypto enthusiast, Hester Peirce, also known in the crypto space as Crypto Mom, filed a statement for dissent on the charges SEC found in Unikrn. Pierce states the company did not commit any fraud during its ICO – only a registration offense was committed. Despite condemning registration offenses, Crypto Mom claims such enforcement actions could lead to stifling of innovation in the crypto arena.

“Registration violations, even standing alone, are serious, and our enforcement actions can serve to deter such violations and protect harmed investors,” she said.

“We should strive to avoid enforcement actions and sanctions, however, that enervate innovation and stifle the economic growth that innovation brings. I believe that this action and its accompanying sanctions will have such consequences.”

Furthermore, she disagrees that UKG token sale constituted as a security because the SEC has not placed clear guidelines for entrepreneurs and businesses to follow in token sales. The securities regulator is lagging behind in implementing laws that set a dilemma for several innovators – choosing whether to drop the project or continue developing with a dark cloud of enforcement hanging over their heads.

Pierce suggested the implementation of a regulatory safe harbor that allows the SEC to implement and regulate projects on antifraud laws while providing a safe space for innovation to continue. “A regulatory safe harbor could resolve this unhappy dilemma,” she states.

“Affording a company like Unikrn a three-year regulatory window within which to further develop and refine its platform—while still subjecting it to the antifraud laws—would provide benefits to token purchasers, token issuers, and the Commission.”

She ended her statement calling for better regulation policies and experimentation of new approaches to prevent stifling of innovation within the U.S.

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Author: Lujan Odera

Chiliz Onboards Spanish eSports Franchise Team Heretics; Will Launch Their Own Fan Token

Chiliz has added another major esports team to its roster in the form of a famous Spanish esports team called Team Heretic. Chiliz’s Socios.com, a fan token platform, revealed the latest addition to its platform through its official twitter handle on August 18. The Spanish esports team, in association with the fan token platform, would create and distribute fan tokens $TH for €2 apiece during the initial offering period.

Chiliz has an ambitious plan of adding 50+ brands to its socios.com platform, and the addition of Team Heretic comes months after back-to-back Dota 2 champions OG joined the platform back in March. The first sale of the fan token would begin on March 25.

The fan token, $TH, is built on top of Ethereum and allows the fans to participate in official polls on the Socios.com platform. The first event that the $TH holders can vote on would be to decide which Fortnite player would lead the team in a deathmatch.

And later, the team would also pick six $TH holders to join them in the match. Apart from these utilities, the token holders in the future would also get a say in the decision-making process. Pablo Canosa, Team Heretics Commercial Director, commented on their recent association with the Socios.com and said:

“It’s essential to us that our fans are involved as much as possible with the organization. Now—thanks to Socios.com—our fans can have a real voice and the opportunity to vote in important team matters. Not only this, but fans can also look forward to exclusive rewards and experiences too,”

$TH Token Distribution

The beginning phase of the token sale would see a distribution of 125,000 of the $TH Fan Tokens, where 90,000 of the 150,000 would be sold on Socios.com, and the remaining 35,000 would be sold on Chiliz.net where each individual could buy a maximum of 50 $TH tokens. The next sale and price of the token would be determined by the supply-demand and the mining of 5 million tokens.

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Author: James W

ESPN to Launch Blockchain-based Gaming Platform With Bitcoin & Crypto Payments

E-Sports Programming Network (ESPN Global) has integrated online gaming with blockchain technology.

Currently, the platform — a “blockchain-based gaming revolution,” is under the pre-launch phase, which will allow users to win cash by winning battles and tournaments. It will further allow players to make “deposits and withdrawals using bitcoin and other variety of crypto-currencies.”

In the press statement, ESPN Global will be using crypto payment specialist “Cryptopay” to speed up the integration process.

Chris Parker, one of the directors of ESPN Global, noted that e-sports and online gaming is a “$140 billion global industry driven predominantly by digital micro-transaction economies,” as such can benefit immensely from the integrity and resilience of blockchain technology.

The UK-based mobile e-Sports platform is also integrating its recently launched blockchain-based game, Satoshi’s Treasure.

“With this $1 million puzzle game Satoshi’s Treasure, we are promising a bounty-laden bitcoin wallet whose keys will be divided into 1,000 fragments, spawning a global hunt for the prize pieces,” said Parker.

The company is also planning to launch an Initial Exchange Offering (IEO) for its own ERC-20 based token, Smart Gaming Token (SGT). The tokens will be airdropped to all registered players as a gift, which currently has a value of $0.001.

According to Parker, any player who loses money by participating in any of the games or tournaments, their losses will be covered by the corporation. Also, their crypto wallets will be credited with our SGT airdrops equivalent to their losses.

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Author: AnTy

UFC and ChiliZ (CHZ) Partner to Offer MMA Fans Tickets & Experiences Using Socios App

The Ultimate Fighting Championship (UFC) and the Ethereum (ETH) based eSports platform – Chiliz – has closed a partnership to allow UFC fans to use CHZ tokens for various experiences.

The announcement was made on May 7th by ChiliZ. It also said UFC fans will have access to the ChiliZ blockchain-based app Socios. With the CHZ token from ChiliZ, UFC fans will be able to exchange these tokens on Socios for different rewards, like UFC tickets and experiences.

The new partnership is going to give more than 318 million UFC fans access to the offers, which also include pre-sales of tickets. More details on the offerings will be announced in the following weeks.

UFC and ChiliZ
Source: UFC / ChiliZ Parter

UFC Fans Will Get to Have a Voice

Alex Dreyfus, the CEO of Chiliz, said in a statement that the partnership is more about giving UFC fans a voice than about buying tickets. Here are his exact words on this:

“The idea is that (before the pandemic) 99.9% of sports fans, like YOU, are not in the stadium and yet you are a fan of few teams.

So we offer teams the ability to engage and monetise their global fan base by creating Fan Tokens and attaching rights, experiences, gamification around these Fan Tokens.”

He added that more than 200,000 people have already downloaded the Socios app and that he hopes their numbers to rise this year. Twitter Socios followers were very enthusiastic too. Dreyfus further announced CHZ token holders will be given exclusivity to the UFC Fight Island.

Tokenizing the Sporting World

As a sports tokenization platform, Chiliz has already secured deals with soccer clubs such as Juventus, FC Barcelona, AS Roma, Paris Saint-Germain, CA Independiente, and Atlético de Madrid. Besides, it collaborates with esports behemoth OG for the production of Fan Tokens.

Another of its partnerships is with the Lagarde Sports and Entertainment for the Major League Baseball and the National Football League. Earlier in 2020, Chiliz collaborated with Cristiano Ronaldo and Lionel Messi.

The startup was founded in 2018 and raised more than $60 million in a private placement funding from Binance that same year. Its revenue is generated through Fan Tokens sales.

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Author: Oana Ularu

Esports Betting Platform Hero Has Over 260,000 Users

Esports Betting Platform Hero Has Over 260,000 Users

Hero, a new esports platform that is based on the Ethereum blockchain, has recently affirmed that it managed to get over 260,000 users since the launch of its program back in January 2019. How did the company manage to get this success? By decentralizing the nature of betting even more.

The main selling point of this product is that Hero ditches the old bookers and lets the community create its own betting hubs. Users can place wagers together with their friends instead of using bookmakers, considered an antiquated concept by the company.

Hero is focused on esports betting, so games such as Counter Strike, Dota 2 and League of Legends are the most popular ones there. There are, at the moment, over 5,000 contests happening and the monthly growth of the community is around 43%, a very high number.

This company was chosen as one of the winning startups from the 360 Lab accelerator this year and it shows, as it seems to be completely ready for success.

According to the team that develops for the company, the main idea is to create a platform in which users who are not very experienced with cryptos can easily bet and have a good time. The adoption of the blockchain may be rising now but trust and confidence in the technology are far from mainstream.

This means that the platform has to be attracting people who are still not hooked on the blockchain tech in order to grow fast. To do it, the user experience is created to be as seamless as possible and users are constantly being educated on how to participate in the community.

Hero affirms that the users are educated on how to keep their money always safe and avoid scammers, as well a being comfortable with using crypto wallets. The effort is a combination of making an intuitive design and having an open conversation with the community.

In order to make the product even more popular, the company has been focused on offering stuff that people can buy with HEROcoin, the official token of the company. People can use the token to buy skins for Counter Strike and Dota 2 and to get vouchers for Steam and Blizzard.

Esports Fantasy Set To Be the Next Big Update

Hero is not deciding to slow down now that its business is doing fine. After the initial success of the platform, the next goal is to start a live fantasy section on the blockchain. According to the team, people will be able to see the performance of the players in real-time and to get several new features.

This way, the goal of the company is to create a product that can be considered fun and thrilling and that will be more decentralized than traditional services of this type.

The company has also recently started a collaboration with Coinfinity in order to let clients buy HEROcoin from several different places. This way, clients will be able to quickly acquire the company’s assets even when they are outside of the internet.

Another important integration was with Dash, allowing the players to convert Dash into HEROcoin and vice versa. Transactions are pretty quick and safe, according to the company.

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Author: Gabriel Machado