Cake DeFi, a Singapore-based crypto fintech platform, announced Friday a multi-million dollar partnership with FACEIT, a United Kingdom-based platform for competitive online gaming, to allow users to earn cash flow from their crypto.

Facilitated by Pivot Agency, the collaboration will provide Cake DeFi with authentic brand exposure to all FACEIT users globally through a series of bespoke and multifaceted gaming experiences which will offer the community a chance to win crypto, Cake DeFi said in a statement.

According to the statement, this year Cake DeFi will be offering players more than half a million dollars in prizes, paid in crypto.

The partnership with FACEIT marks Cake DeFi’s first move into the gaming and esports space. The agreement will offer the company access to FACEIT’s 25 million user base, the largest network of competitive gamers, and will offer players a unique opportunity to earn actual crypto prizes while playing.

Furthermore, through Cake DeFi’s platform and access to decentralised finance applications, they can compound their winnings and earn returns on their crypto.

“The FACEIT platform is home to the largest community of competitive gamers, which means we have a unique understanding of this audience. Our users are incredibly forward thinking and educated when it comes to crypto, so the partnership we chose had to bring tangible and substantial value to be of interest,

“The collaboration with Cake DeFi is much more than brand integration, and offers our community clear experiential and financial benefits which go beyond what any partnerships of this type has delivered before,” said Michele Attisani, Co-Founder and Chief Business Officer of FACEIT.

According to the statement, the partnership will incorporate Cake DeFi missions, involving in-game tasks and monthly challenges for players to complete in order to win crypto prizes.

It will also include Cake DeFi weekly tournaments which will run throughout the year and will be open to FACEIT players around the world. Players will be able to earn even greater rewards on the crypto they win when they sign up to Cake DeFi. All crypto prizes are redeemable through their Cake DeFi account, allowing FACEIT to expand its current play-to-earn offering.

“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,” said Dr. Julian Hosp, Chief Executive Officer and Co-Founder of Cake DeFi.

Cake DeFi is a crypto fintech platform that provides users access to DeFi (decentralised finance) services and applications such as liquidity mining, staking and lending, which generates regular returns for users.

It currently manages over $1 billion in customer assets and offer users one of the highest returns on crypto in the market, as a one stop platform that is easy-to-use, secure and transparent. Last year it paid out $230 million in rewards to customers and this year it is looking to increase this to 74 percent more, or $400 million, in rewards.

FACEIT is a competitive platform for online multiplayer games, with over 25 million users. Through FACEIT, players, organisers, game developers and brands can access a dedicated platform that empowers the development of the competitive gaming ecosystem through play, organise and social features.

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