Singapore-based Cake DeFi has reportedly formed a multi-million-dollar partnership with FACEIT to help gamers earn cryptocurrency.
Cake DeFI is a mobile app that helps users generate passive income daily through cryptocurrency.
FACEIT is a competitive gaming platform for online multiplayer player-versus-player gamers. Its technology can integrate with competitive games and help publishers and organisers build competitive communities.
As part of the deal, Cake DeFi will gain exposure to all FACEIT users globally through a series of gaming experiences with the change to win cryptocurrency, according to a report from technode global. The company will offer over $500m in prizes to users.
To earn prizes, users can complete tasks and monthly challenges.
This will make Cake DeFi’s first move into the gaming space.
Cake DeFi claims to have one million users and issued over $300m in rewards. Supported coins on the platform are bitcoin, ethereum, bitcoin cash, litecoin, doge coin and many more.
Cake CEO and co-founder DeFi Dr. Julian Hosp said, “Gamers have a natural affinity with crypto and they can now join us on the DeFi movement. Cake DeFi’s partnership with FACEIT will allow players to earn crypto while they game, and further earn returns on their crypto through our platform. In 2021, we paid out US$230 million in rewards to our customers. So it’s a win-win-win for FACEIT gamers.”
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