Dignitas Joins Zytara Lineup, a Step Towards Uniting Esports and Blockchain

Published

3 years ago

January 8, 2021

Esports icon Dignitas has come together with fintech company Zytara to tackle payments and value transfer within esports using the DigitalBits blockchain.

Dignitas’ partnership with Zytara is the first major alliance between esports and blockchain, a combination set to overhaul the esports’ financial mechanisms. Zytara, a fintech launching a digital banking platform and payment network for gamers and esports enthusiasts, will leverage the DigitalBits blockchain to power the use of stablecoins and other digital assets.

Despite their global scope, esports organizations still struggle with traditional payment rails. Notably, Epic Games experienced difficulties distributing some of their $100 million prize pool for Fornite tournaments. With esports growing rapidly, this is something that must be addressed, and it appears that Dignitas and Zytara are coming together to lead the charge.

Dignitas has championed many firsts for the industry, being the first ever esports team to be acquired by an ownership group of a North American sports franchise, Harris Blitzer Sports & Entertainment (HBSE). Dignitas would later go on to sign a first-of-its-kind sponsorship deal with Susquehanna International Group, LLP (SIG), one of the world’s largest proprietary trading firms.

Zytara will issue a series of Dignitas-branded debit cards and app skins, featuring the recent Dignitas rebrand. Additionally, the two companies plan to collaborate on a number of unique activations, including social media and Twitch giveaways, as well as pro-player content aimed at driving awareness and engagement for financial solutions for gamers. With almost 3 billion people worldwide playing games, this combination of gaming and fintech has to potential to promote financial literacy and inclusion that has not yet been seen before.

Zytara’s unique product line looks to connect the worlds of esports and blockchain, enabling gamers access to innovative technologies, such as unique digital assets and decentralized finance. In aligning themselves with notable brands such as Dignitas, Zytara has doubled down on its “by gamers, for gamers” approach, demonstrating their commitment to their target market of Millennials, Gen Z gamers and esports enthusiasts.

“Partnering with a brand as dedicated to the financial education and success of our athletes, creators, and community as we are is an extremely valuable opportunity. We look forward to working alongside Zytara to create innovative fan experiences focused on bringing their digital payment innovations to life,” John Spiher, Vice President of Partnerships at Dignitas, said in a statement.

“When the concept of Zytara was first born, it was always about bringing to market a banking platform built by gamers, dedicated to gamers. Working with one of the most widely recognized esports organizations in the world shows our dedication to this special group of consumers. We are looking forward to the joint activity taking place with Dignitas throughout 2021 and being able to showcase our innovative products for esports fans and enthusiasts,” said Zytara Founder & CEO Al Burgio.

In 2018, Al Burgio launched the DigitalBits blockchain, a fork of the Stellar protocol. DigitalBits is built for quick and efficient value transfer, which Zytara will use to enable its diverse product suite, including the optimization of payments and other operations within esports. The XDB Foundation, the core supporting entity behind the DigitalBits blockchain, has also worked meticulously to create a partnership ecosystem that supports and enhances these capabilities, including Fireblocks, Messari, and Stably.

In late 2020, Zytara announced the launch of the Zytara dollar (ZUSD), a stablecoin issued in partnership with Prime Trust, redeemable on a 1:1 basis for US dollars. ZUSD is designed for the future of finance, esports and gaming, along with countless other applications. Recently featured in Forbes, ZUSD will first launch on Ethereum before ultimately migrating to DigitalBits in 2021, enabling significantly higher transaction throughput and faster confirmation times. Burgio sees a lot of potential for ZUSD to become digital money for the gaming industry and beyond.

Up Next

Bridge Mutual Announces Partnership with Plasma.Finance to Strengthen DeFi Insurance

Don't Miss

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Click to comment

Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

Published

4 months ago

December 29, 2023

Crispus

BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD) on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

December 27, 2023

Crispus

Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

December 22, 2023

Crispus

Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5^th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…