Division 6ix Joins Fan Token Hype With Its Own Cryptocurrency
It’s official, the UK-based entertainment agency Division 6ix now has its own cryptocurrency. Called D6ix Tokens, they represent yet another sign that crypto is making its way into the mainstream.
In September of last year, we reported that El Salvador had become the first country in history to consider a cryptocurrency as legal tender. This represented one of the biggest pieces of news the world had yet seen regarding mainstream adoption. But sports have hopped on the bandwagon in a significant way as well –– largely by releasing cryptocurrencies called fan tokens. Astonishingly, the market cap for these fan tokens grew from $260 million U.S. (about £190 million) to $391 million (£285 million) between June and December of 2021.
With the Division 6ix esports agency now joining the fan token world as well, esports enthusiasts are being given more opportunities to interact with the platform and its teams. But what exactly are fan tokens — and why does Division 6ix believe that they’re important to its future?
Introducing fan tokens
Fairly recently, esports platforms began releasing their own unique cryptocurrencies. Dubbed fan tokens are similar to membership passes in that they give buyers access to exclusive opportunities with their favourite teams. For example, token holders may be allowed to influence a team’s internal decisions, unlock VIP rewards like games and chat opportunities, and even be recognised officially as super fans.
On top of these benefits, fan tokens also have real value. Their prices move upward and downward according to demand, such that while most fans will buy them for their actual functions, they also serve as tradable assets.
All about D6ix Tokens
Unlike other fan tokens — including those released by major teams OG and Natus Vincere — D6ix goes beyond giving holders unique opportunities with existing teams. Rather, Division 6ix’s goal is to find promising esports players and content creators and help them reach their highest potential. This vision carries over into the tokens designed to boost users’ earning prospects. Tokens can be used to enhance everything from content creation to tournament prizes and wagers. Esports fans are even given a chance to earn tokens by consuming the made content.
“The Esports industry is saturated with so many pro players and content creators that it’s a challenge for emerging talent to break through and make money from their passion,” Division 6ix CEO Olu Adenekan has said. “Our focus is the development of players from amateur to a professional level and then giving them the tools to earn income, build a following and increase revenue opportunities.”
Prior to January, the esports organisation had raised more than £2 million from running a private sale of the tokens. Today, the tokens are available on an initial coin offering or “ICO” period, which will run through February.
Division 6ix and future plans
Founded in 2020, Division 6ix is proud to be one of the UK’s only grassroots esports and crypto organisations. It established the country’s first-ever esports academy — where, as alluded to previously, the agency helps beginning esports players and content creators get discovered and reach their fullest potential.
The agency is currently hosting a free tournament which will run until April of this year. In this tournament, participants can win a variety of prizes, including NFTs, Gems — and, of course, D6ix Tokens. In addition, scouted individuals who perform well will have the opportunity to join one of Division 6ix’s official competing teams. Players can even request to be discovered for just 100 of these tokens (which translate to around £4.99).
Division 6ix plans to expand its ecosystem and reach more aspiring competitive players in the near future. In the meantime, those interested can head to the agency’s website and enter the running for one of the tournament’s cups.