Cryptocurrencies gradually finding a place in eSports

Posted on: Aug 04, 2018 By smartlaunch in News and trends,

As the esports boom continues, experts have been looking for new means to expand the industry. Cryptocurrencies are gradually finding a place in esports through various parts of the industry. The latest trend for growth happens to be in blockchain networks.

Blockchain and cryptocurrency are becoming increasingly significant in the esports industry through sponsorships, investments, and cloud gaming. For example, in February, NRG Esports announced a partnership with Enjin Coin, developed by Singapore based company Enjin. As part of the deal, NRG-branded tokens were created for use in entering raffles. The raffle prizes included trips to events, gaming hardware, or merchandise signed by NRG Esports  players.

Another example is Esports Ecosystem, an esports-based cryptocurrency company, which will be one of the sponsors for the Evo Championship Series. Esports Ecosystem has created its own cryptocurrency called ESE tokens, partially with the intention to use the coins to add to existing cash prize pools. EVO and eSports Ecosystem are partnering up for the upcoming event in Las Vegas, Nevada. The cryptocurrency company continues with its mission to become the standard cryptocurrency for all of esports.

Cryptocurrencies can be used for many things; as pay-outs to the players, as an entry fee into tournaments, to trade merchandise on-site or online and most importantly, cryptocurrencies can be used for the growth and facilitation of the esports ecosystem.

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