Crypto Brands MIA at IEM Cologne Major as Esports Turns to Traditional Sponsors

The IEM Cologne Major tournament in Germany has drawn a sold-out crowd of over 50,000 spectators from more than 70 countries. The four-day Counter-Strike 2 competition carries a $1.25M prize pool and features eight teams competing for the title.

For the first time in years, there are no crypto logos or sponsorships visible at the event. This marks a significant shift in the esports sponsorship landscape, which was once dominated by crypto brands such as FTX and Coinbase.

The absence of crypto sponsors is not just limited to IEM Cologne. It's part of a broader trend where traditional tech companies like Intel are taking over naming rights deals and sponsorships. The Miami Heat's arena lost its FTX naming rights, and Formula 1 teams have also shed their crypto partners.