Esports Company of Japan Seeks To Pay In Ripple To Its Players

News sources from Japan reported that esports company of Japan has decided to pay remuneration to its players in Ripple (XRP). The decision came into limelight as people started arguing whether it is an initiative for adopting cryptocurrency as mainstream. Some also said that this might be a desperate attempt to catch the media and public attention.

SBI esports, a sub-ordinate company of Japanese SBI Group, recently announced that from now on the players’ salaries will be paid in XRP. SBI has also joined hands with VC Trade, a venture capital firm, and the decision is part of their sponsorship agreement.

The public announcement was made by SBI esports on the pretext that esports players are fully aware of the cryptocurrencies. They frequently use digitalized currencies for making payments so there will be no problem with the players of the esports.

SBI esports also said that the agreement entered into with VC Trade will help the company to expand its portfolio within the crypto world. This will resultantly promote an environment-friendly market where the customer-centricity will be prioritized. It will also expand the liquidity as well, said SBI esports.

Currently, one Ripple (XRP) is being traded at US$ 0.2405 (alternatively US$ 1 is equivalent to 4.1580 Ripple). The cryptocurrency presently holds US$ 10,827,898,158 in the form of market capitalization. Presently the Ripple is at fourth place of world’s largest cryptocurrencies as per its market cap.

Last year in 2019, Ripple’s Project Xpring and Forte, which is a popular blockchain platform built for game-centric purposes, collectively promoted an event. In the event both made efforts to raise a fund and successfully raised a fund of US$ 100 million. The fund was to be used for the purposes of providing support to game developers.

Mr. Mac Ocampo of Virtually Human Studios told Cointelegraph that the world gaming industry is currently a biggest challenge. The challenge is that not all gamers are cryptocurrency users nor all of them are aware of cryptocurrencies and their use. Still there are only a handful players who actually use cryptocurrencies while the majority of them use fiat, he said.

 

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