According to PandoraTech News, South Korea's largest cryptocurrency exchange, Upbit, has announced an endorsement partnership with legendary League of Legends player Lee Sang-hyeok, known as Faker. In Upbit's promotional video, the theme is "Bravely Forward, Setting New Standards," showcasing Faker as a representative figure for esports and the younger generation. The video depicts him not only as a gamer but also as a musician, reading, and other everyday activities. The Upbit app interface appears frequently throughout the video, reflecting the passion of young Koreans for cryptocurrency trading.

The first wave of activities in the cooperation is to give away tickets for the LCK (League of Legends Championship Korea) finals. The finals will be held at the Inspire Arena on Yeongjong Island in Incheon at 2:00 pm (Korean time) on September 28.

Currently, Gen.G holds first place in the LCK standings with a 100% win rate, Hanwha is second, and Faker's T1 team is third with an 11-7 record. As the player with the most World Championships in LCK history, Faker's endorsement partnerships further underscore his iconic status in Korean society.

Upbit's parent company Dunamu (investors include Kakao) said it hopes to leverage Faker's influence to combine e-sports culture with crypto finance and reach a wider group of young users.

Analysis Summary

This collaboration not only marks a crossover between the esports and crypto industries but also highlights the growing interest in investment and digital assets among young Koreans. Faker's endorsement, coupled with the LCK Finals, could potentially bring significant traffic from young users to Upbit. However, some have pointed out that tying cryptocurrency trading to esports idols could exacerbate speculation, a double-edged sword for the Korean market, which faces heightened regulatory scrutiny.

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