Bitstamp, a London-headquartered cryptocurrency exchange, has become an official sponsor of Guild Esports PLC, a UK-based professional esports company. Guild Esports welcomed Bitstamp as the company’s exclusive official crypto exchange partner with the signing of a three-year global sponsorship deal for £4.5 million.
According to SMG, an organization that brokered the multi-year main partnership between Guild Esports and Bitstamp, the sponsorship will start on 29th January 2022. So far, the sponsorship is the largest deal secured by Guild Esports in its history and will help the sports company to generate annual revenues of £1.5m over the three-year period.
As part of the agreement reached, Bitstamp will be provided with marketing rights and the main exposure across Guild’s team jersey. Additionally, the crypto exchange will appear across digital and social featuring Guild’s pro-players and content creators. Furthermore, Bitstamp’s brand and logo would be integrated at Guild’s new flagship London headquarters, which is scheduled to open in early 2022. Besides that, Guild and Bitstamp stated that they will collaborate in the development of several projects and activations designed to enhance Guild’s fanbase and Bitstamp customer experience as well as develop high-quality content that the esports community expects from Guild.
Kal Hourd, the CEO of Guild Esports, mentioned: "We are thrilled to welcome Bitstamp to Guild as our official cryptocurrency exchange partner. It will also enable us to deliver creative high-quality content and a meaningful experience to our audience in a way that is authentic to both Guild and Bitstamps’ identities.”
Meanwhile, Julian Sawyer, the CEO of Bitstamp, added: “Partnering with a creative and fast-growing organization with a digital and worldwide audience like Guild, is a natural fit for us. Working together to reach esports and gaming fans is a significant moment for us and our growth plans as we continue to bring our trusted service to more mainstream audiences that recognize the benefits of investing in crypto.”
Bitstamp Is Striving to Develop More Capabilities to Grow Bigger
The development by Bitstamp comes at a time when the company is focusing on expanding its business operations in major markets. In August last year, the crypto exchange reported its 2020 financial result, which showed that the firm recorded an increase of its total revenue to €54.5 million from the prior year’s €51.1 million. That was a yearly increase of 6.6%. In July last year, Bitstamp hired Robert Zagotta, a Chief Operating Officer of its rival Kraken, as its CEO for its US subsidiaries, Bitstamp USA. In April 2019, the crypto exchange was awarded a virtual currency license, ‘the BitLicense’, by the New York Department of Financial Services. The license enabled Bitstamp to allow NYC-based investors to buy and sell Bitcoin and other digital currencies for U.S. dollars and vice versa. Meanwhile, an increasing number of crypto firms such as Binance, Cryoto.com, Coinbase, among others, are becoming major sponsors in sports to reach new audiences and push into the mainstream.
