Cake DeFi has teamed up with FaceIt, a competitive gaming platform, to provide gamers the possibility to earn bitcoin by playing in esports.
Cake DeFi will put up more than half a million dollars in prizes in 2022, all of which will be paid in cryptocurrency.
To gain prizes, FaceIt players must engage in weekly tournaments, monthly challenges, and in-game chores. They’ll also need to create a Cake DeFi account in order to redeem their goodies.
FaceIt’s consumers were already pro-crypto, with 36% investing in digital currency, according to a poll conducted by the company. Another research found that 55 percent of young gamers held cryptocurrency, compared to only 5% of all millennials.
FaceIt co-founder Michele Attisani stated that the partnership was more than just about brand integration and that it provided its community with tangible experience and financial advantages. The game platform gave out US $230 million in awards in 2021, with a user base of 25 million.
Cake DeFi, meanwhile, paid out US $230 million for its loan, staking, and liquidity mining services. In 2022, it hopes to raise this figure to $400 million.
Cake DeFi introduced Borrow in April, allowing consumers to get DefiDollar loans with bitcoin as collateral.
