eSports at a Glance
eSports is a relatively new phenomenon that, however, managed to spawn a booming industry. Being in fact a form of competitive gaming, this discipline has already been added to the programme of 2022 Asian Games, and may even become a part of 2024 Olympics.
With the number of online gaming platforms steadily increasing, the overall revenues of the industry is likely to reach $1.5 billion by 2020. The audience of eSports events has reached nearly 400 million people in 2017 alone, with 191 million being devoted enthusiasts. As for players themselves, the Global eSports Market Report has estimated their number to reach 58.4 million by the end of 2017.
This all attracts both players and large companies who see a great opportunity in promoting their products and services for a whole new audience. While in traditional sports advertising remains one of the main sources of income, it has not become one for eSports yet. However, the same Global eSports Market Report suggests that by year 2020 advertising will become the second biggest source of revenues in the industry generating profits of up to $224 million.
Most certainly, major online gaming platforms like Steam ride the tide of the brave new market. However, most of those ignore the promise of Blockchain technology, which their lesser competitors seem to have heard. There are numerous examples of online gaming platforms that have already embraced Blockchain-powered solutions or at least have expressed their determination to do so in the short run.
Blockchain and eSports
Various gambling platforms and eSports startups gladly embrace the opportunities brought about by Blockchain-powered solutions, and even hold ICO’s to fund their development. Some experts suggest that the eSports market will experience pervasive tokenization and introduction of smart contracts across most games and platforms. There are even some bold assumptions that customization and purchase of games will be conducted exclusively in cryptocurrencies.
One example of such platforms is FirstBlood, which has been operating for more than a year. The platform offers its users an opportunity to play, compete, place bets, and earn rewards. Currently the platform hosts only Dota 2, however, it has announced that it will also add Counter Strike: Global Offensive, FIFA 18, Hearthstone, League of Legends, and Call of Duty.
Another notable example is Gilgam.es, which has recently held an ICO. With the project scheduled to enter beta in late 2017, the platform will offer individual smart contracts for each match, as well as betting functionality. Notably, the platform will use artificial intelligence, which, however, does not determine the winner but confirms that a certain player or a team has won, and over time, will detect and ban cheaters. The platform will offer a set of games similar to that of FirstBlood.
Finally, Eloplay mentioned before, has been on the market for almost two years, yet it’s only now that it has opted to introduce Blockchain to its ecosystem. The project’s team came up with what they call ‘smart tournaments’ that are basically regular tournaments with decentralized prize pools gathered by the players themselves, or by sponsors of a tournament which in this case is free to participate. Other Blockchain-enabled options of the platform include betting, gamer stats and advertising. However, those are yet to be deployed. Games available at the platform include the same Counter Strike: Global Offensive, Hearthstone, Dota 2 and other popular games.
Decentralized Future of eSports
Those are not the only projects that directly integrate Blockchain solutions in their operation. There are much more of those, some of which offer a specialized token to buy skins across the internet, while others focus on the gambling side of the industry offering advanced betting experiences.
All in all, it seems that, unlike banking, logistics, security, and other industries where Blockchain technology is likely to be widely applicable, the eSports industry seems to be among the few who inclines towards fully embracing the innovation.
With more and more projects integrating Blockchain-powered elements in their platforms, it seems only the matter of time that the industry does become the most tokenized and smart-contracted of them all.
And, at the current pace, it’s likely that it won’t take too long.
- SportyFi – Decentralized Sports Investment Start-up Endorsed by Soccer Superstar Roberto Carlos - October 16, 2017
- Acronis Joins Runa Capital and Parallels In Accelerating Innovation and Supporting Blockchain Initiatives in Malta - October 16, 2017
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- Hyperledger Knits New Project – Hyperledger Quilt - October 16, 2017
- Legolas Exchange Partners With BanQix to Protect Institutional Investors - October 16, 2017
- MARK.SPACE Announces Launch Of Blockchain-powered VR-platform With Upcoming Token Crowdsale - October 16, 2017
- IRTI Partners With Ateon And Settlemint To Develop Blockchain-based Products For Financial Inclusion - October 16, 2017
- Golden Alliance Coin Announces ICO – For Mining Gold - October 16, 2017
- Media Aggregator Esports Gold Announces $5 Million Ethereum Token Sale - October 16, 2017
- MinexCoin: Park the Volatility! - October 16, 2017
- Ambrosus Token Generation Event (TGE) Officially Cracks the Largest Blockchain Crowdfunded Projects in History - October 15, 2017
- Freedom Streaming Announces An ICO For The First Uncensored And Anonymous Live Streaming Platform - October 14, 2017
- MicroMoney starts a $30,000,000 token distribution campaign - October 14, 2017
- Announcing the First Members of the DataBrokerDAO Alliance - October 14, 2017
- STK Global Payments Announce Global Advisory Board – Token Sale - October 14, 2017
- Zilliqa Breaks 2,400 Transactions per Second with their ‘Sharding’ Blockchain - October 13, 2017
- Dappbase Launches High-Performance Infrastructure for Decentralized App Developers - October 13, 2017
- bitJob Raises $2 Million to Launch Decentralized Platform for Student Employment - October 13, 2017
- Particl Unveils Its Confidential Cryptocurrency Transactions - October 13, 2017
- Waves To Develop “liquid Democracy” Applications - October 13, 2017
- DECENT Updates Core – New User Issued Assets and More - October 13, 2017
- Dash for Dope – Digital Payments Platform Alt Thirty Six Selects Dash As Payment Method of Choice for New Retail Sectors - October 13, 2017
- Garvan Institute And E-nome Enter Strategic Alliance To Enhance Medical Research Data Management Through Blockchain Tech - October 13, 2017
- Moody’s: New Payment Technologies Pose Threat, But Incumbents Unlikely To Be Displaced - October 13, 2017
- ZAP Token Distribution Event to Begin October 21, 2017 - October 12, 2017
- AirFox Raises $15 Million in Successful ICO, Brings New Mobile Banking Solutions to Emerging Markets - October 12, 2017
- HydroMiner Token Sale Starts October 18th – Austrian Regulators Approve - October 12, 2017
- The SBM Group and SALT Technology Enter Exploratory Partnership to Collateralize Blockchain Assets - October 12, 2017
- ExHasta: Integrating and Empowering Innovators – Announces Token Sale - October 12, 2017
- Tech Veterans Set Up Global Public Offering Fund To Turn Top U.S. Startups Into Asia-Pacific Listed Unicorns - October 11, 2017
- ZenCash Partners With Welto to Allow Bill Payment in Cryptocurrency - October 11, 2017
- Cryptopay Plans to Tie Investments to Service Performance Metrics - October 11, 2017
- Boosteroid Wants to Squeeze Google and Amazon on the Cloud Computing Market - October 11, 2017
- Fiinu Launches Pre-sale Ahead Of ICO - October 11, 2017
- Famous Russia-based startup BioCoin closes first round of presale with $2.5 mln raised - October 11, 2017
- eSports Platform EloPlay to Hold a Token Sale - October 11, 2017
- CapLinked Partners With Storj Labs, Moves Enterprise Document Management to Blockchain Technology - October 11, 2017
- Ethfinex and Cofound.it Collaborate to Bring Trust to Blockchain Economy - October 11, 2017
- Exscudo launches Bug Bounty campaign - October 11, 2017
- Blockchain Capital and TaaS Join BLOCKv, a User Interface for Blockchain Tokens - October 11, 2017
- Lufthansa Group Partners Up With Winding Tree To Bring Blockchain Technology To The Travel Industry - October 10, 2017
- Peer Mountain Launches Distributed System of Trust to Give Data Control Back to Consumers - October 10, 2017
- Revolutionary Ico Aimed At Tackling Waste Surplus And Energy Shortfall Announced - October 10, 2017
- Streamr, the Decentralized Real-Time Data Economy, Joins the Trusted IoT Alliance - October 10, 2017
- Exscudo and Crypto.Tickets exclusive partnership opens a new market for cryptocurrency - October 10, 2017
- Guardian Circle Turns to Blockchain for Global Decentralized 9-1-1 Emergency Response - October 10, 2017
- NEM Foundation Partners with Metaps Plus, Expanding Korean Presence - October 10, 2017
- StormX Lowers Community Appreciation Sale Cap Due to Overwhelming Demand - October 10, 2017
- Token Report to Provide Membership Access to World’s Largest Database on ICOs - October 10, 2017
- BLOCKv Adds Visionary Futurist Peter Diamandis and Serial Entrepreneur and Investor Gil Penchina to its Advisory Board - October 10, 2017