Enthusiast Gaming Announces Strategic Web3 Collaboration with Coinbase

LOS ANGELES, Sept. 08, 2022 (GLOBE NEWSWIRE) — Cheerful Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ: EGLX; TSX: EGLX), an integrated gaming entertainment company, today announced a collaboration with Coinbase Global Inc. (“Coinbase”) (NASDAQ: COIN ), one of the largest cryptocurrency platforms in the world and a trusted leader in the Web3 space. The announcement features Coinbase as the preferred infrastructure provider to power Enthusiast Gaming’s portfolio of Web3-enabled games. Coinbase will provide developer tools, educational content, and community development support to power Enthusiast Gaming’s portfolio of Web3-enabled games.

Coinbase is uniquely positioned to deliver on Enthusiast Gaming’s goal of creating memorable gaming experiences and capturing the next wave of Web3 users globally. The Coinbase Cloud Development Platform offers the solutions required by both new and experienced developers, such as crypto wallets, blockchain nodes, and fiat-to-crypto payment rails.

“Coinbase is the ideal technology partner and an expert in integrating users into a Web3 experience”, said Bill Karamouzis, president of Enthusiast Gaming. “I’m excited to see the potential value-enhancing features for our users that our work with Coinbase can bring. Among these value-added features is the already integrated Coinbase wallet. This self-service wallet option allows users to easily send, receive, and manage the cryptocurrency they earn through EV.IO. »

The partnership revolves around Enthusiast Gaming’s EV.IO, a new browser-based first-person shooter (FPS), which allows users to earn cryptocurrency as rewards for their achievements in the game.

“We are honored to have been selected by Enthusiast Gaming to power its growing portfolio of games with scalable blockchain infrastructure,” said Dan Kim, vice president of business development at Coinbase. “By partnering with industry experts on game-changing titles like EV.IO, we’ll help bring the next 100 million users into Web3 in the safest and most seamless way possible.”

About Gaming Enthusiasts

Enthusiast Gaming is an integrated gaming entertainment company, creating the largest media and content platform for gaming and esports fans to connect and engage around the world. By combining elements from its four main pillars: Communities, Content, Creators, and Experiences, Enthusiast Gaming offers a unique opportunity and an integrated approach to reach and connect with its coveted GenZ and Millennial audience. Through its proprietary blend of digital media and entertainment assets, Enthusiast Gaming has built a vast network of like-minded communities to deliver the ultimate fan experience.

contacts

Relations with game-loving investors:
Eric Bernofsky, General Manager
[email protected]

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Forward-looking statements

This press release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than statements of historical fact, which address activities, events, results, developments, performance or achievements that Enthusiast Gaming anticipates or expects to occur or will occur in the future (in whole or in part) should be considered forward-looking. information search. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “expected”, “estimates”, “forecasts”. “, “intends”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases, or statements formed in the future tense or that certain actions, events or results “may “, “could”, “could”, “could” or “will” (or other variations of the foregoing) be taken, occur, be made or occur. The forward-looking statements contained in this press release include, but are not limited to, planned partnership activities and enhancements to the functionality of game titles published by Enthusiast Gaming, as well as the growth of the Web3 user base.

Forward-looking statements are based on assumptions and analyzes made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, including, but not limited to, expectations and assumptions regarding: interest and foreign exchange rates; capital efficiency, cost savings and synergies; growth and growth rate; success in the esports and gaming media industry; the Company’s growth plan and the judgment exercised in applying the Company’s accounting policies and in preparing the financial statements in accordance with applicable financial reporting standards. Although Enthusiast Gaming considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; and future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive. For additional information about the risks, uncertainties and assumptions that could cause anticipated opportunities to differ materially from actual results, please refer to Enthusiast Gaming’s public filings which are available on SEDAR at www.sedar. com. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time it was prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and are therefore subject to change thereafter. Enthusiast Gaming disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.