Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
Electronic Arts (EA) is not one of the traditional firms that are going the crypto way. However, a recent tweet from the company sought to mislead the crypto community that it was and succeeded quite well at it.
Digital currencies are largely volatile in nature and almost always sitting on the edge. But apart from the assets themselves, another interesting entity that seems to constantly be sitting on the edge as well is the crypto community itself and the best way to measure its own instability is to watch Twitter. This is why it came as no surprise when the Twitter crypto community seemed to converge on a seemingly bullish tweet from Electronic Arts (EA), the popular gaming company.
Arguably the largest gaming company in the world with popular games like FIFA, NHL, Titanfall, Need For Speed, NBA Live, Madden, and The Sims under its belt, the company posted a tweet which seemed to support cryptocurrencies.
invest in Crypto.
— Electronic Arts (@EA) September 19, 2019
Within minutes after the tweet was posted, the Twitter crypto community including individual enthusiasts and corporate entities as well, rallied around it. Some of them, such as Binance, OKCoin and Bitcoin Magazine, along with thousands of enthusiasts, sent a response in one form or the other, with many expressing some level of excitement and support at the tweet. Not long after, the tweet garnered many thousand likes and retweets but as it turns out, the EA message had absolutely nothing to do with cryptocurrency at all.
Apex Legends Season 3: Meltdown
EA used the tweet to create some buzz around its upcoming game set for release on Tuesday the 1st of October. Another tweet from the game’s official account confirmed this, by replying to the EA tweet, revealing that it was the third season of the Apex Legends game and that the offering contained a character dubbed “Crypto”.
Prepare yourselves for Apex Legends Season 3: Meltdown! Dropping October 1, Meltdown brings a new contender to the arena, Crypto, an all-new Battle Pass, Ranked Series 2 and more. Get the first details and prepare for more reveals before Meltdown begins! https://t.co/bZl59HS6d3 pic.twitter.com/k2tjZmIp17
— Apex Legends (@PlayApex) September 19, 2019
Maybe excited enthusiasts should have noticed that the “c” in “Crypto” was capitalized, something which shouldn’t have been done in a normal reference to digital currencies. Regardless, one might agree that the play on words was a great idea on EA’s part, to boost acceptance and publicity for the game, ahead of its official release.
It might also be important to note that there are some who are of the opinion that the tweet most likely was beneficial to the industry. This is because not too long after, Bitcoin reared its head again hitting $10,200 and is still above that mark at press time. Altcoins also seemed to rebound and get a bit more comfortable in the period after the tweet.
Was the increase natural or could it be directly tied to the “endorsement” from EA? Because EA has millions of fans all over the world and more than 5.5 million followers on Twitter, an endorsement – however fake – from a firm like that could possibly create bullish sentiments in the industry, which could then push prices upward.
Electronic Arts Inc., (EA), is currently at $99.49, a 1.43% increase from it’s $98.28 previous close. EA stock has grown about 75% in the last five years and seems to be on it’s way to clock-in a six-year consecutive growth.