Why the future of eSports is tied to Blockchain technology

Posted on: Apr 18, 2019 By smartlaunch in News and trends,

With a 33% compound annual growth rate, the esports market is very lucrative. Hundreds of millions of fans regularly watch their esports heroes battle it out in games such as DOTA, League of Legends, Halo, and FIFA at live streamed events whose prize money can run into the millions.

Esports is to entertainment what cryptocurrency is to cash: the natural order of things. Most esports fans are too young to recall the before time, when games were played offline and money was physical.

The massive growth in esports popularity mixed with the fact that gamers, often referred to as early adopters, 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.

Driven predominantly by digital microtransaction economies, gaming is a USD 140 billion global industry, which will benefit immensely from the integrity and resilience of blockchain technology.

Effective monetization is critical to sustaining video content creators. Thus, the marriage of cryptocurrencies and gaming, in all its many forms, is inevitable.

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