- Team Liquid partners with Community Gaming to launch a $20,000 esports competition series this summer.
- The event will distribute prize money in USDC, leveraging the Ethereum layer-2 scaling network, Base.
- This initiative aims to demonstrate the advantages of using cryptocurrency for efficient and automated prize payments.
Discover how Team Liquid and Community Gaming are revolutionizing esports payments with a new $20,000 competition series, utilizing the Ethereum scaling network for secure, fast payouts.
Team Liquid and Community Gaming Announce $20,000 Esports Tournament Series
In an exciting development for the esports industry, Team Liquid and Community Gaming are collaborating to launch a summer competition series with a $20,000 prize pool. The series, unveiled on Friday, will feature four events, with prize money distributed in USDC, a stablecoin tracked to the U.S. dollar.
Utilizing Blockchain for Efficient Payment Systems
One of the most compelling aspects of this series is its use of Base, an Ethereum layer-2 scaling network, to automate prize payments. The aim is to highlight the efficiency and transparency of cryptocurrency transactions, a much-needed evolution for the often slow and fee-heavy payment processes in esports.
Details of the Competition Series
The North American series will split its events evenly between two popular games, Teamfight Tactics and Hearthstone. Scheduled to take place from late June to mid-August, each event will offer $5,000 in prize money, attracting top talent from across the region.
Industry Insights and Commentary
Community Gaming’s CEO, Chris Gonsalves, underscored the significant benefits of using cryptocurrency for prize distributions, stating, “Late payments and high fees are rampant in the esports industry. Our automated payment system on Base offers a secure and quick solution for prize payouts.” The series not only offers financial rewards but also aims to educate participants and spectators on the advantages of digital currency.
Coinbase’s On-Chain Summer II Initiative
This esports series is part of the broader On-Chain Summer II initiative spearheaded by Coinbase, the creator of the Base network. Intended to introduce blockchain technology to a wider audience, the initiative will include educational resources and promotional events throughout the summer.
Economic Impact and Future Projections
Jesse Pollak, the creator of Base, commented on the potential economic impact: “The esports industry is valued at over a billion dollars. By utilizing USDC on Base, we’re ensuring that more prize money goes directly to the players, reducing intermediary fees and delays significantly.” This operational shift could set a new standard for future esports competitions.
Conclusion
In summary, Team Liquid and Community Gaming’s innovative use of blockchain technology for prize payments marks a significant step forward for the esports industry. With a promising $20,000 series, this collaboration could pave the way for broader adoption of cryptocurrency in competitive gaming, ensuring faster, more secure transactions for all stakeholders involved.
