FACEIT partners with Cake DeFi

Tournament platform FACEIT has announced a partnership agreement with cryptocurrency fintech platform Cake DeFi. The parties reported that the deal is estimated at several million, but did not share specific figures.

As part of the deal, players will receive cryptocurrency rewards for participating in matches on FACEIT. In addition, Cake DeFi will host its own championships on FACEIT. In addition, the agreement will allow the company to gain access to the users of the platform.

Julian Hosp, CEO and Co-Founder of Cake DeFi: "Gamers have a natural affinity for crypto and they can now join us in the DeFi movement. Cake DeFi's partnership with FACEIT will enable players to earn crypto while playing and further profit from their crypto through our platform. In 2021, we paid out $230 million in rewards to our customers. So it's a win-win for FACEIT users."

Cake DeFi and FACEIT will also run weekly tournaments and reward top players with crypto rewards.

Michel Attisani, co-founder and CBO of FACEIT: "The FACEIT platform is home to the largest community of gamers, which means we have a unique understanding of this audience. Our users are incredibly forward-thinking and educated when it comes to crypto, which is why the partnership we chose, was supposed to bring tangible and substantial value."

Cake DeFi announced that the company plans to pay out over half a million dollars to FACEIT users for completing in-game challenges and various activities in 2022.