Gaming Industry Support For Ukraine Continues, Stake to Donate $1M In Crypto

Posted on: March 10, 2022, 09:59h. 

Last updated on: March 11, 2022, 10:16h.

Erik Gibbs Read More
Expertise: Asia Pacific Gaming, Gaming Business, Global Gaming.

The Russian invasion of Ukraine continues, but so does the global support to fight it. The gaming industry is repeatedly showing its support, with millions of dollars in financial contributions pouring in.

Russia-Ukraine War
Soldiers carry an injured female to safety in the Russia-Ukraine War. As the fighting continues, the gaming industry continues to show its support for Ukraine. (Image: Associated Press)

There are several initiatives underway to help Ukraine fight. In addition to weapons, fighters and refuge, financial contributions are pouring in as well.

Ukraine has been accepting cryptocurrency donations to combat Russia’s invasion since it began. It has received over $100 million so far, according to reports, and is getting another injection.

Cryptocurrency betting operator Stake has pledged $1 million in cryptocurrency. In addition, the Gaming Industry for Ukraine fund continues to receive regular donations.

Contributions Pour In For Ukraine

Stake announced that it has contributed 25.63 Bitcoin (BTC), which roughly amounts to slightly more than $1 million.

Everyone at Stake stands in solidarity with the people of Ukraine. Our hearts go out to all those innocently involved in this tragic conflict. We hope this contribution will go far to aid and support the brave and resilient Ukrainian people,” said Stake co-founder Ed Craven.

The GoFundMe page, Gaming Industry for Ukraine, continues to see contributions pour in as well. This is an initiative established by gaming industry insiders to support the “Choose Love” charity and its focus on Ukraine.

We are distributing funds to partners operating in Ukraine, and in surrounding areas (Romania, Moldova & Poland), and will be updating you over the coming days with more detail. Thank you so much for the outpouring of love and support,” said “Choose Love” in a statement.

So far, Betsson Group, Better Collective, FSB Technology, Microgaming, and other operators have added to the fund. Individuals within the gaming community have pitched in as well. The fund has set a goal of ￡250,000 (US$327,825).

As of Thursday afternoon, there were 212 contributions. Those total ￡193,707 (US$254,046), of which ￡50,000 (US$64,500) came from Betsson Group.

Russia Continues to Be Cut Off

The world has spoken and continues to do what it can to voice its opposition to the invasion. A number of gaming operators and related companies have exited the market, and more are adding their names to the list. PokerStars is among the more recent companies to turn its back on Russia, announcing that it has suspended all operations in the country.

Coca-Cola, McDonald’s, Starbucks and other big-name brands have already exited, as well. Sony and Nintendo have suspended sales in the country, as have Procter & Gamble, Unilever, and Nestle. Philip Morris and British American Tobacco haven’t left, but are suspending investments.

The saga has also caught British soccer team Chelsea FC. The team is owned by Roman Abramovich, a Russian billionaire. The UK has placed sanctions on him, which will damage the club as well.

Abramovich’s assets are frozen and he cannot transact with UK companies or citizens, according to a government statement. This means he won’t be able to sell the team as he had planned, and it also means that the club cannot sell tickets to its matches.

Until the government negotiates a deal with the team, game attendance is going to drop. Only season ticket holders and those with tickets already in hand will be able to attend games.