Are coins creating problems in the e-sports industry?
Controversy has risen in the e-sports industry after it was found that pro gamer Seo Jin-hyeok, also known as Kanavi, of professional League of Legends team Griffin was offered an unfair contract. It was also discovered that two coin projects played a negative effect on the e-sports ecosystem. Those projects turned out to have contributed to wages being overdue for employees at an e-sports educational institution and aided to the abolition of a program at a broadcast station. Unjust contract The e-sports industry is being beaten from all sides after a series of public outcries. It was exposed that Seo was offered an unfair contract by his team. The controversy grew after the Korean e-sports association only levied a fine of 100 million won on Griffin. It became even greater after the association ousted Kim Dae-ho, the former head coach of Griffin, who exposed the unjust contract after doing the same to Griffin’s director Cho Gyu-nam. League of Legends fans became furious. Are coins adding fuel to the fire? Amid this controversy, it was found that some companies were trying to advertise their cryptocurrencies through the e-sports industry. These cryptocurrency projects got in touch with other companies to co-produce e-sports game programs and involve themselves in related companies as shareholders to advertise their cryptocurrencies. Why did the TV program idea fail? A company that first started linking its business with the e-sports industry approached a broadcast company and was promised a program related to e-sports games. The program was to be about an audition project that would select members for a globally based game company’s first person shooter team. There were reportedly more than 100 teams who applied to be on the program right before the scheduled opening, but the broadcast station suddenly canceled the launch citing a lack of casted members. Industry sources said the cryptocurrency company was the fundamental cause of this sudden cancellation. A source said that the company’s executive impersonated a famous e-sports management agency to attract customers while advertising its part in making the broadcast program. “The broadcast company canceled the show after the e-sports management agency that took damages brought up the matter,” the source said. “While the reason for cancellation was a lack of cast members, the real reason was actually something else.” Join:D tried to get in contact with the cryptocurrency company in question, but the number listed on its website could not be connected. Another number listed on the website of one of the company’s executives also failed to connect. A coin company in the e-sports unpaid wage scandal? There also was a cryptocurrency company involved in the e-sports industry’s unpaid wage scandal. A coin company was found to be one of the shareholders for a gaming talent raising agency that did not pay wages on time. The talent agency emphasized the coin company’s financial power and technologies when launching, but the agency got caught up in the overdue wage scandal less than a year after opening. The talent agency was already reported to the Ministry of Employment and Labor, and through our reporting it was found that the company failed to pay wages to its employees in November, a month after the coin company found itself in a financial trouble, which is the typical managerial problem witnessed in many newly born firms. This case was especially highlighted as one of the shareholders was a cryptocurrency company. No further information could be found on what the cryptocurrency company did after July. Join:D did try to get in contact with both the cryptocurrency company and the talent agency in question but was unsuccessful. As for the talent agency, all available numbers were found to be no longer in service. Parker's note: Get-rich quick fever The cryptocurrency industry wasn’t really too involved in the e-sports unjust contract scandal. Coin projects don’t really have any major influence on the scandal in the e-sports industry, which means that cryptocurrency firms are not at the heart of this scandal. Yet the industry is in an apparent get-rich quick fever, which has contributed to many thinking of swindlers when they think of coins. It is hard to narrow down who did what wrong, as a lot of the parties including the government, retail investors and cryptocurrency industry people are involved in varying ways. It is important that everyone does the right job in their roles.