Brazilian League of Legends team Rensga Esports will reportedly change up to four members of their starting lineup due to ongoing financial issues with the team’s main sponsor, cryptocurrency marketplace BitPreço.
According to a report from Brazilian outlet MGG Esports, Rensga will replace all members of their starting lineup in the Campeonato Brasileiro de League of Legends except ADC Yudi “NinjaKiwi” Miyashiro.
Crypto struggles cause Rensga overhaul
It’s no secret that the cryptocurrency bubble has burst. Bitcoin has lost 60% of its value in the past few months. Numerous cryptocurrencies, including many alleged “stable coins” have bottomed out. On June 27, Goldman Sachs downgraded Coinbase, a major sponsor of Team Liquid, to a “sell” rating after the company’s share prices fell another 11% to a 78% decline on the year.
While the knock-on effects of the crash and subsequent “crypto winter” are being felt around the world, CBLOL outfit Rensga Esports have become allegedly become the latest victim.
The team’s primary sponsor, BitPreço, has reportedly run into financial issues relating to the crypto crash. While crypto remains popular in Brazil, cryptocurrency outlet Criptofacil reports that crypto trading in the country in May was down nearly 36% from a year prior.
With the primary cash flow stymied, Rensga have had to take drastic measures. If the report from MGG Esports is correct, the team will need to replace four of the five members of their CBLOL lineup. According to the sources who spoke to MGG, two players have already left the team.
Rensga, who are currently last in the CBLOL standings with a 1-5 record, will reportedly fill their vacancies at top lane, jungler, mid lane, and support with members of their academy team. While Rensga were already well outside the contender conversation, this may essentially put an end to their season.
Could the crypto winter put a freeze on esports?
Rensga are not the only esports organization that has hitched their wagon to the now-dying horse of cryptocurrency. While Team Liquid will likely survive the aforementioned death knell of Coinbase, it’s a bad look for an organization who, as recently as November 2021, were proclaiming that they were looking towards an “unlimited future” with the crypto platform.
Elsewhere, both TSM and the League of Legends Championship Series have major sponsorships with FTX. While that crypto platform has weathered the crash better than others, share prices are still suffering.
Crypto has quickly become a major player in the esports scene. However, Rensga could be the first domino to fall as the world of digital currency continues to crumble
Header: Special Memes Fresh, Rensga Esports
