Xi Lai Gaming played EDward Gaming to a 1-1 draw in their series at Masters London this week — a result that leaves both teams alive in the tournament but underscores a bigger story playing out across esports: crypto sponsorship money is drying up.
The match
On Monday, Xi Lai Gaming and EDward Gaming split maps at the London Valorant event. Neither team dominated, but the tie has implications for group standings. The real action, though, is happening off-screen. Industry data shows crypto-related deals in esports are shrinking fast — a retreat that has been accelerating since the start of 2026.
Crypto pullback
For the past few years, crypto exchanges and token projects were some of the biggest spenders on esports jerseys, stream banners, and event naming rights. That wave is receding. Sponsorships from crypto firms are giving way to more transactional arrangements — short-term activations and direct payment deals rather than long-term brand partnerships. The shift is pushing teams to look for new revenue streams.
Revenue over visibility
The decline reflects a broader change in how crypto companies allocate marketing budgets. Instead of paying for logo placement, they're prioritizing direct user acquisition and measurable returns. Sponsorships tied to vague brand awareness campaigns are being cut. Esports organizations that built rosters on crypto cash are now scrambling to fill the gap — or downsizing.
The timing isn't great. Masters London is one of the bigger events on the calendar, and the absence of a major crypto sponsor on the broadcast is noticeable. Teams like Xi Lai and EDward Gaming rely on diversified income; fewer crypto dollars means more pressure on tournament winnings, merchandise, and traditional sponsors. The question now: who — if anyone — steps in to replace the crypto money before the next big tournament?
