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Rensga, who compete in the Brazilian Championship of League of Legends (CBLOL), have revealed significant lineup changes due to the financial difficulties affecting their primary sponsor, BitPreco.
Jungler Gustavo “Minerva” Queiroz and mid laner Bruno “Goku” Miyaguchi have reportedly parted ways with Rensga and will not participate in any additional CBLOL games for the team. On the other hand, the South Korean duo of top laner Shin “Trap” Seung-min and support Kim “Mocha” Tae-gyeom will stay for a little while longer and perform their final games.
According to MGG Brasil, Rensga will maintain the Brazilian bot lane player Yudi “NinjaKiwi” Miyashiro and will complete the remainder of the squad with gamers from their academy lineup. The management does not intend to bring any new players onto the major squad, and instead will search for individuals to fill vacancies on the academy team.
Bitcoin’s value has declined by over 60 percent in the previous few months, which may have had an effect on one of the partners of Rensga, which is BitPreco. The cryptocurrency space has already been tumbling at an enormous speed for the better part of the past few weeks.
Following the publication of the report by MGG Brasil, Rensga issued an official statement to the press. In it, the Brazilian esports group made no reference to BitPreco or the company’s rumored financial difficulties; all it mentioned was that the team was rebuilding.
“The move is part of a restructuring by the company that manages the team that involves the arrival of new investors and the development of projects on fronts not yet explored by the group,” Rensga said.
“Rensga is a strong brand and, despite its young age, it positions itself with credibility in a market that, in addition to allowing several possibilities for innovation and new business, is undergoing rapid development.”
BITPREÇO & THE CRYPTO MARKETPLACE
In 2018, BitPreco was established as a trading platform for cryptocurrencies in Latin America. According to Coinpare, it is the cryptocurrency exchange service with the fastest-rising turnover in the Brazilian marketplace and has the second-largest Bitcoin transaction overall in the nation.
As the value of cryptocurrencies continue to decline, the dependence of the market on Bitcoin might end up being its undoing. Just the value of Bitcoin has decreased by more than 60 percent over the course of the past several months.
There are more teams competing in esports besides Rensga in CBLOL that have had cryptocurrency benefactors in recent years. After forming a similar partnership with TSM in 2021, FTX joined forces with the League of Legends Championship Series the following year. In early 2022, Team Vitality also formed a similar partnership with the blockchain network Tezos.
