London-based, web3 game platform company Portal announced Thursday a “mainstream esports activation with Dota 2” through a new global esports tournament with a total prize pool of $100K USD.
The company said that this activation marks a “significant stride in Portal’s mission to reshape the competitive gaming arena while establishing itself as the go-to hub for gamers worldwide.” The tournament appears to be recognized by Dota 2 maker Valve, according to the release:
“We’re incredibly excited to announce this landmark activation. We’re entering uncharted territory – a collaboration between a next-gen gaming ecosystem and a mainstream gaming title” said the Portal team in a release. “The global reach of DOTA2 ensures that this activation will resonate with players and fans worldwide. We’re excited to be giving DOTA2 players new ways to connect with the game they love – through Esports and much more to come!”
The tournament will also feature in-game items called “Portal Chests,” offering Dota 2 in-game items that can be redeemed by players. Portal Chests will be available solely through Portal and can be purchased in $PORTAL, the platform’s cryptocurrency of choice.
The Portal DOTA2 World Invitationals will run online from March 28-31, will span “multiple countries,” and feature eight “top-tier esports teams” battling for a portion of the overall prize pool. Teams participating in the event are “to be announced” on Portal’s social media accounts.
The prize pool is as follows:
- 1st Place Champion: $50K
- 2nd Place: $25K
- 3rd Place: $10K
- 4th Place: $7K
- 5th – 6th Place: $4K each
- 7th – 8th Place: $2.5K each
Portal describes itself on its website as a “decentralized data network for gaming,” or a “next-gen gaming platform and publisher” that utilizes GRID, an “open source data layer, aggregating on & off-chain gaming data. Portal Coin, or $portal, is described as a “native platform coin for the portal platform” that acts “as a nexus of web3 games and gamers, providing game distribution and player simplicity for all.” More details about the complexity of Portal and its underlying technology can be found at portalgaming.com. It is unclear if prize money will be paid out in cash or cryptocurrency.