SINGAPORE — Singapore’s leading cryptocurrency trading platform Coinhako is getting into esports, with a sponsorship for Mobile Legends team ALMGHTY, an up-and-coming Singapore esports squad. Approximately half of the sponsorship value is paid in Ethereum, the world’s second-largest cryptocurrency by market capitalization. This marks the first cryptocurrency-funded esports sponsorship in Singapore. 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.
“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 esports. 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 Yusho Liu, Cofounder & CEO, Coinhako.
“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,” concluded Yusho.
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. ALMGHTY is managed by global digital talent and marketing group Gushcloud International and its gaming talent management unit, Nixgen Entertainment.
“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 Joanne Liew, Chief Studios & Entertainment Officer from Gushcloud.
Having recently announced a 500 per cent 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.
“Gushcloud always takes pride in pioneering unique opportunities to build relationships. This collaboration between Coinhako and ALMGHTY team marks the first cryptocurrency funded sponsorship that looks to open doors for more opportunities.” said Jamie Paraso, Country Director of Gushcloud Philippines. “The Philippines is heavily involved in gaming and is growing to be proficient in cryptocurrency. Currently, there are more than 43 million gamers with over 25 million monthly active users in Mobile Legends: Bang Bang, and the country is also one of the fastest adopters of the cryptocurrency “play-to-earn” concept, which is why Gushcloud Philippines is looking forward this partnership.”
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.
Collaborations between cryptocurrency giants and the sports industry have risen in popularity over the past few months, including Coinbase and CS:GO, UFC, and Crypto.com, and many more. These collaborations continue to play an important role in closing the trust gap among a more mainstream demographic, making crypto trading accessible and appealing to everyone and anyone.