Stalwart Esports moves to cyptocurrency only financials through USDT
Cryptocurrency is an exciting new area and one that has a lot of crossover into esports, be it from crypto games or even from esports crypto betting. However, up until now, it hasn’t been used as the primary payment method for esports. An Indian esports organization is about to change all that and become the first full crypto esports team. They’ve already moved their balance sheet onto cryptocurrency entirely, using it as the primary payment method across the board for the team.
This new move comes after quite a few teams have moved into using crypto in a wider sense. Cryptocurrency looks to have an exciting future, but is the crossover with esports teams more than just a novelty? This is what the move to a full crypto esports team constitutes, and what it means for crypto’s future in esports in general.
Stalwart Esports Becomes First Crypto Esports Team
Stalwart Epsorts is an Indian esports org that has a high focus on mobile games. They have a major presence in a bunch of big esports, including Clash Royale, PUBG mobile, and Free Fire. The team has seen some success in these games to date and has become one of the bigger names in mobile esports in India. They’ve had particular success in PUBG. This week though they’ve made the news for another reason, they’re becoming the first full crypto esports team.
Stalwart Esports are moving` from cash and fiat currency into entirely crypto. Their balance sheets, payments, and salaries to both players and employees will all be done from now on in cryptocurrency. Stalwart’s support of crypto in esports so far has been pretty strong. They’re even planning to launch their own token which players can use for transactions involving the team and to buy and trade themselves.
India at the moment is said to be considering banning cryptocurrency. This would probably complicate things for Stalwart. With this as the background, it is even more impressive that a crypto esports team is moving entirely into the tokens.
The team has talked about the benefit of using crypto to allow international transactions to take place quicker and cheaper. This is pretty useful for internationally competing competitive esports teams.
Crypto in Esports Teams
Cryptocurrency has seen a lot of growth related to gaming in recent years. This full crypto esports team is a big move, but it isn’t the first. Numerous teams have recently become sponsored which major sponsors from crypto companies. Going beyond sponsorship, some teams have utilized the blockchain in how they function too. Teams OG and NaVi are using blockchain technology for fan tokens, which allow fans to earn rewards and vote on things around the team. In general, many esports teams are finding unique ways of utilizing cryptocurrency technology.
A lot of crypto at the moment is dominated by people looking for meme coins and moon shots. However, the technology and utility behind cryptocurrency and blockchain have a great future with a lot of applications. These moves are really just the start of where blockchain and esports can go. We’re seeing more crossover between the two areas, but there’s even more scope in the future. Cryptocurrency could change things up in a major way for esports, and Stalwart is one of the first teams to go all the way in on that.