The eSports and crypto industry have one thing in common; technology. And although the crypto market has all the money that any business could need, e-Sports delights the audience. The big names in the industries know this and want a bite out of each other’s cake.
For example, Blockchain technology, the backbone of crypto, offers various benefits to eSports players and developers through transparent contracts, changes in global restrictions, and many others. And the eSports industry is opening up crypto to its wider audience in return.
For context, the operators of E-sports games are now offering some of the points to punters the best bitcoin betting sites. This is very similar to traditional sports betting, and many people are getting good results from this new type of betting now.
Kate Richardson, experienced gambler and consultant, says the combination of these two powerful industries is also changing the narrative for gamblers. She currently offers bettors tips and advice on how to increase and improve their chances of winning. You can follow Kate here for tips on betting on eSports tournaments.
The growth of eSports would not have been as fast without a system like Blockchain. The fundamental power of the sport lies in its technology, which makes it one of the best technological innovations.
Not only can you stream these tournaments live, but you can also enjoy in-app game assets paid with coins. Here are the ways in which these two big businesses are fostering their symbiotic relationship for their growth:
1. Crypto and eSports are limitless
There are no feelings or prejudices about place/race. Fans and players can buy and sell in digital currency or stream and play on the sports channel. Tournament organizers do not need the support of world governments before planning their events because viewers from any country can stream their platform and transfer money without third parties.
In addition to this, the position that strict control of money does not affect crypto helps e-Sports. The sport has international players and audiences, and the ability to pay international players without raising any challenges is a blessing. This makes it easy to deal with players everywhere, and in turn, it increases the crypto user base by the day.
2. Crypto Increases eSports Events and In-Game Asset Purchases
Events in eSports are based on crypto trading and investing. People invest in players and teams, but beyond that in-game assets are rarer.
In-game assets could be environments, maps, objects, characters, and sound effects designed for sale or investment by experts. Players and spectators can purchase these assets (even event graphics for teams or editable text fields) to enhance their playing or viewing experience.
According to Statista, there are over 500 million eSports fans worldwide. Imagine half of them buying and selling these funds with crypto. It improves its use and translates into more income for the sport. Besides this, anyone can create tokenized game assets via ERC20 for Ethereum-based assets. Merchants trade them using assets, which translates into increased crypto usage and expansion of the eSports fan base and reputation.
3. Players are paid in Crypto
International players don’t have to worry about triggering red flags when large sums of money hit their accounts. The digital payment method prevents that. His endless business does not respect the strict money regulations that some countries may impose on their citizens, and they cannot find the source because they do not even notice.
This also means that players everywhere can avoid huge bank charges, avoid investment delays, and enjoy a new level of transparency through digital coins. This increases interest in eSports competitions, adding to the wider network for those interested in crypto.
4. Trust the rise of Crypto in eSports
Fans won’t be as committed to the game without trusting the process. They do not stream, promote, or support teams or players without the trusted crypto and Blockchain offerings. Transparency encourages trust, and game developers don’t fear not getting paid.
For example, developers primarily use Ethereum. They get paid for their development efforts because Ethereum helps them process smart deals before work begins. The same is true between organizers and sponsors. Crypto ensures that concerns about the fair distribution of money are eliminated because it has smart contracts, which cannot be done by any of these parties.
5. Donor and Crowd Opt-Out
E-Sports fans stream competitions from multiple networks like Twitch and YouTube. However, fans do more than this. Through digital currencies, they can donate to a team or player through these platforms.
Because there is transparency, there is no corruption, because the investment will appear in the ledger of the recipient. In addition to this, crowdfunding for aid is more accessible because governments cannot block it or people in certain regions cannot access it. All of these give power to security in eSports.
Technology is central to the growth of the sport and digital currency, but their symbiotic relationship has made the game easier to play and financially rewarding. Crypto powers trust and security in eSports, and that’s how both businesses thrive.
Both businesses would probably not experience rapid growth and profitability without unlimited payment efficiency and the ability to create smart contracts and attract donations from followers through a trusted payment system.