How blockchain technology can change eSports

Posted on: Sep 17, 2018 By smartlaunch in News and trends,

Gamers are some of the early adopters of cryptocurrencies as they already are familiar with many in-game virtual currency models and see the benefits of integrating cryptocurrency networks into the domain. The eSports market is continuously growing at a pace that exceeds expectations, and it is only a matter of time before its rise is meaningfully coupled with cryptocurrency payment systems and decentralized models.

Blockchains provide a useful tool for gamers for various reasons including decentralized asset exchanges, verifiable scarcity of virtual objects and collectibles, fast and secure payment networks, and an ability for developers to properly monetize their creations. On the other hand, the search for solutions to providing sustainable and fun blockchain-based games has led to some exciting innovations in blockchain scalability and asset creation.

The most popular implementation of blockchain technology for gaming is with non-fungible assets. In gaming, these assets can be anything from game skins to virtual cards part of a specific game that are verifiably scarce.

One of the most apparent benefits of cryptocurrencies for gaming is their utility as fast and secure payment networks. The payment benefits of cryptocurrencies are especially useful for eSports, creating native in-game tokens, and driving seamless transactions on decentralized exchanges.

Decentralizing the gaming development model will allow many developers and smaller companies to deliver their products direct-to-consumer and offer an entirely new generation of creative games, accessible to everyone.

Hundreds of blockchain gaming professionals, innovators, service providers and industry experts are expected at this year’s most anticipated event: The Blockchain Game Summit in Lyon, France, on September 25th & 26th.

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