Galaxy racer, a Dubai-based organization with active involvement in esports has reached a partnership agreement with Quint which includes a $25 million investment and the Quint token becoming accepted for payments on Galaxy racer’s website.
Although it is no longer novel for sports firms to get into partnership with companies involved in crypto and Web3 activities, this is however the first esports organization to ink a partnership deal of this kind.
According to the terms, Quint would become the native token for Galaxy racer, thereby integrating the token into the payment portal on Galaxy racer’s website, and Quint would also hold the prestigious responsibility of educating fans of Galaxy racer about cryptocurrencies, Blockchain technology, and web3.
By reason of this partnership, Galaxy racer would be able to make use of Quint’s technology and also facilitate the design of initiatives and infrastructural developments later in the future.
Elated founder and CEO of Galaxy Racer, Paul Roy stated that his company believes that the Quint token is a game-changer in the Cryptocurrency industry, and the decision to ink a partnership and investment agreement with the ecosystem is a result of the firm’s exceptional team and underlying technology.
On Quint’s part, its CEO and Managing Partner, Rahul Chaudhary expressed delight at partnering with Galaxy Racer which is a foremost esports organization across the Middle East. According to him, the primary mission of Quint is to bridge both the real world and the metaverse while creating value.
While this may be one of the first times the esports division is forming an alliance with crypto and Blockchain firms, a long chain of activities has brought other sports divisions into unison with Blockchain firms.
One of such is Crypto.com climbing the heights to become the official Cryptocurrency exchange partner for the forthcoming FIFA world cup.
Recently, the Ultimate Fighting Championship (UFC) announced that its fighters would be earning their fan bonuses in Bitcoin (BTC) while the National Football League (NFL) has also granted permission to its clubs to accept endorsement deals from Blockchain firms