Coinhako backs esports team ALMGHTY via Ethereum
E is for esports and Ethereum, and Singapore-based cryptocurrency trading platform Coinhako believes they are the perfect combination. Coinhako has announced the first cryptocurrency-funded esports sponsorship in Singapore, backing the Mobile Legends team ALMGHTY, an up-and-coming Singapore esports squad. Approximately half of the sponsorship value is paid in Ether, the native cryptocurrency of blockchain platform Ethereum. It is the world’s second largest cryptocurrency by market capitalization.
“The decision to embark on the first cryptocurrency-funded sponsorship in esports, and the first by a crypto firm in Singapore, wasn’t a difficult one to make as it merges two of the hottest topics of 2021, i.e. cryptocurrencies and e-sports. Furthermore, as a homegrown company, we believe in supporting local talents which make Singapore proud on the regional stage. The multi-talented ALMGHTY squad certainly embodies these elements and Coinhako is excited to embark on this sponsorship with ALMGHTY,” said Coinhako Co-Founder and CEO Yusho Liu in a press statement.
“As we continue to move forward in our mission of making cryptocurrencies accessible throughout Asia, this sponsorship will provide a boost in reaching a younger, mobile-first generation, and raising awareness through talented players in Singapore’s gaming industry,” he said.
The sponsorship will run from July 2021 until the next esports cycle in July 2022.
ALMGHTY’s Mobile Legends squad includes five talented Singaporean youth: 17-year-old Gerrard Ng Zheng Wei (Nexqt); 18-year-old Javier Tan (Sky); 19-year-old Chai Mun Jun (Jun); 22-year-old Foo Jieyu (Risen); and 17-year-old Randall Tay Guan Pin (Bush).
Each member of the esteemed esports brand has displayed exceptional talent in professional esports settings. They also enjoy a dedicated regional social media and live streaming following as a group, with more than 11 million fans in Southeast Asia alone.
ALMGHTY which placed fourth in Singapore’s Mobile Legends Bang Bang Professional League (MPL) in early May this year, is set to conquer Southeast Asia’s gaming scene. They are signed up for several national and regional competitions, including MPL Singapore Season 2 (August 2021), MPL Invitationals (Q4 2021), and the SEA Games 2021 Qualifier.
Crypto and esports
“ALMGHTY is proud to welcome Coinhako onboard as our first cryptocurrency sponsor in Singapore. Gaming and cryptocurrency share a lot of similarities, with a heavily tech-driven user base. In line with Coinhako’s position as the Lion City’s leading crypto trading platform, the ALMGHTY team is equally driven to emerge as winners, together reaching a younger audience base,” said Gushcloud Chief Studios & Entertainment Officer Joanne Liew.
Having recently announced a 500% increase in trading volume for the first five months of 2021, Coinhako has seen booming interest from millennials, noting the need to further instill crypto confidence in a wider demographic through channels that appeal to individual interests. With the increasing synergy between crypto and esports, Coinhako believes this collaborative partnership will help in engaging with a younger audience.
The sponsorship will see ALMGHTY leverage the large regional fanbases of their players on social media to drive Coinhako’s presence throughout Southeast Asia. This will cover Twitch streams, Facebook, and Instagram content by the ALMGHTY team and players. The official FY 21/22 ALMGHTY jersey for the players will also sport the Coinhako logo.