In the spirit of Onchain Summer 2024, multinational esports organization Team Liquid has partnered with tournament platform Community Gaming to host a series of tournaments featuring Teamfight Tactics (TFT) and Hearthstone.
Each tournament boasts a prize pool of $5,000 USDC, a digital asset redeemable 1:1 for USD on Base, a layer 2 blockchain incubated by Coinbase.
Tournament Details
The TFT tournaments will take place on June 29-30 and July 13-14, each following a 256-player Battle Royale format. Subsequently, 128 Hearthstone players will compete in single-elimination brackets on July 27-28 and August 17-18.
Event Background
These tournaments are part of Onchain Summer, an annual event organized by cryptocurrency exchange Coinbase. The event celebrates the fusion of art, music, gaming, and blockchain technology, aiming this year to promote instant and secure payments for esports players.
Statements from Organizers
Chris Gonsalves, CEO of Community Gaming, highlighted the advantages of their automated payment system: “Delayed payments and high fees are common issues in the esports industry. CG’s automated payment system running on Base ensures quick, secure, and transparent payments.”
Shelley Taniguchi, Director of Global Partnerships at Team Liquid, praised the Onchain payment system: “The top 16 players will receive their payments instantly, without fees, once the tournament concludes. The winnings will go to their Coinbase Smart Wallet, where they can access and use them immediately. Building with Coinbase’s onchain products adds value to the gaming community.”
Jesse Pollak, creator of Base, emphasized the economic benefits: “Esports is a billion-dollar industry. Imagine the amount of money lost to fees and intermediaries that should go directly to players. By using USDC on Base, more money will go directly to the winners.
And Continue: “We are excited to see Team Liquid and Community Gaming leverage cheaper and faster onchain payments on Base; we believe this is a positive evolution for esports.”
Community Gaming and Team Liquid
Community Gaming provides tools for players, tournament organizers, and game developers to run competitions for both web2 and web3 games. Founded in 2000, Team Liquid competes in various titles such as League of Legends, VALORANT, Counter-Strike 2, and Dota 2.
Coinbase has been a partner of Team Liquid since 2021, collaborating on several projects and introducing cryptocurrency as a payment feature in the organization’s official store.
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Conclusion
The partnership between Team Liquid and Community Gaming for Onchain Summer 2024 marks an exciting development in the esports world.
By leveraging blockchain technology for faster and more secure payments, these tournaments not only promise thrilling competition but also set a new standard for financial transactions in esports.
With significant prize pools and top-tier games like Teamfight Tactics and Hearthstone, participants and viewers alike can look forward to a groundbreaking event.