Why ESport is Poised to Become a Crypto Friend

Why ESport is Poised to Become a Crypto Friend

 

Last year, over 100million viewers turned out to watch the League of Legends world championships held in South Korea. The winner Invictus Gaming beat Fnatic 3-0 to pocket $2.4million. This is a clear show of how popular ESports has become and what’s more; the majority of the fans is drawn from the youth.

ESports shares a lot with crypto given that the ESports goer is young tech-savvy and both trends actively spread across the globe. Integration of ESports with cryptocurrency means a brighter future for the twin industries. The beauty of crypto in ESports is that payments can be made on the micro level instantly.

Read also: Major US Food Company Joins IBM’s Blockchain-Based Food Trust

ESports Promising Annual Growth

The lucrative ESports sector comes with a compound growth of 33% each year. Millions of ESports goers watch their favorite stars battle it out in live stream events and the prize money reach millions. The market is appreciative of the fan base demand and only presents what the audience asks for.

The audience demands can only be met by a system that is secure, private and above all; fast and that is where crypto comes in. The trend has shifted from offline games to live and this is a major boost for the twin industries since they are poised to lock out fiat currency for good.

ESports and Crypto Meeting Point

There is a new wave of investors who are keen on putting their money on shiny blockchain and ESports projects. Dreamteam, an ESports based team building outfit recently closed a $5million deal with Mangrove Capital Partners leading to a partnership with market leaders like Fnatic, last year’s League of Legends finalist with Mangrove Capital Partners partner, David Waroquier saying:

 “The massive growth in ESports popularity mixed with the fact that gamers eagerly accept the newest types of technology is creating the perfect storm for blockchain. Using smart contracts for tournament winnings, player salaries and sponsorship money creates the fraud-proof environment ESports needs in order to sustain its growth.”

Crypto and Online Gaming a Perfect Match

The romance brewing between crypto and the gaming economy is unstoppable. The recent Ripple (XRP) entry into supporting blockchain based inline games is a clear indication of the unexploited potential. The Chief Platform Officer at Forte, Brett Seyler while making the deal with Ripple says:

“Gaming is a $140 billion global industry driven predominantly by digital micro-transaction economies, which we believe will benefit immensely from the integrity and resilience of blockchain technology.”

The partnership will see increased monetization and video content developers are set to benefit from the deal. Platforms like DLive, a live streaming outfit, which support Bitcoin Cash (BCH) and Ethereum (ETH), are also set to benefit from the microtransaction demand.

Eyes are on the brewing romance between crypto and ESports which is at an advanced stage and cannot be stopped. The recent launch of Satoshi Treasure puzzle game on April 15 with top prize of $1million appears to be setting pace into the romance between the gaming and crypto. The game is global and hunters are keen on getting the top price.