Bybit has secured new contracts with esports organizations Astralis and Alliance that will run into the cryptocurrency exchange expand its footprint in the video game manufacture.

Bybit will have its logo featured on gaming jerseys and twitch.tv streams equally part of a broader strategic initiative targeting more than expansive histrion engagements, carbon neutrality initiatives and fiscal education programs, the commutation announced Monday.

Ben Zhou, co-founder and CEO of Bybit, said his visitor "is in information technology for the long run," referring to esports. He believes in that location is a "special connection" betwixt the esports and cryptocurrency communities for their high caste of competitiveness and rapid adoption curves.

As part of the deal, Astralis and Brotherhood volition send talent to the upcoming World Series of Trading, which is an annual gamified cryptocurrency trading competition hosted past Bybit. Players will compete for a prize pool of up to $seven.five 1000000, which is roughly five times the previous year's sum.

Bybit has been expanding its footprint in the esports industry, having only recently signed an exclusive partnership with NAVI, a Ukrainian esports system known for its Counter-Strike, FIFA and Apex Legends competitions.

Other cryptocurrency exchanges take recognized the potential of esports. As Cointelegraph reported, leading derivatives exchange FTX recently signed a seven-yr deal with professional esports league the League Championship Serial LCS. In June of this twelvemonth, FTX sealed a naming rights bargain with esports giant TSM valued at $210 million.

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While estimates vary, the projected market size of the global esports industry is over $one billion in 2022. Other estimates suggest the manufacture revenue could peak $6 billion over the next six years. Although these figures are pocket-sized when compared with the global video game industry, they correspond pregnant growth for a sub-sector that was barely recognizable from just a few years ago.