How The Crypto and E-sports Industries Are Helping Each Other Grow
The e-Sports and crypto industry have one thing in common; technology. And while the crypto market has all the money any industry could need, e-Sports boasts the audience. The big names of the industries know this and want a bite out of each other’s cake.
For instance, Blockchain technology, crypto’s backbone, offers several advantages to e-Sports gamers and developers through transparent deals, changes in global restrictions, and many others. And the e-Sports industry opens crypto to its wide range of audiences in return.
For context, E-sports gaming operators now offer punters some of the best bitcoin betting sites. This is quite similar to traditional sports betting, and many people are making significant returns from this new form of betting now.
Kate Richardson, an experienced gambler and tipster, says that the fusion of these two powerful industries is also changing the narrative for gamblers. She currently offers tips and recommendations to bettors on how to scale and improve their winning chances. You can follow Kate here for tips to wager on e-Sports tournaments.
The growth of e-Sports wouldn’t have been this rapid without a system like Blockchain. The pivotal power of the sport lies in its technology, which makes it one of the best technological innovations.
Not only can you stream these competitions live, but you can also enjoy in-app game assets paid for with coins. Here are the ways these two giant industries nurture the symbiotic relationship for their growth:
1. Crypto and e-Sports are Borderless
There are no sentiments or biases to location/race. Fans and players can buy and sell in digital currency or stream and play on the sports channel. Tournament organizers don’t need world governments’ support before planning their events since viewers from any country can stream their platform and transfer money without third parties.
Aside from this, the stance that strict currency controls don’t 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 e-Sports Events and Purchase of In-Game Assets
There are events in e-Sports based on crypto trading and investing. People invest in players and teams, but beyond these are rarer in-game assets.
In-game assets could be environments, maps, objects, characters, and sound effects designed to be sold or invested in by experts. Players and viewers can purchase these assets (even event graphics for teams or editable text fields) to improve their playing or viewing experience.
According to Statista, there are over 500 million e-Sports fans globally. Imagine half of them buying and selling these assets with crypto. It promotes its usage and converts into more revenue for the sport. Aside from this, anyone can also create tokenized game assets through ERC20 for Ethereum-based assets. Buyers will trade these using assets, which translates into more crypto use and the expansion of e-Sports’ fan base and fame.
3. Players are paid in Crypto
International players don’t need to worry about triggering red flags when vast sums of money hit their accounts. The digital payment method prevents that. Its borderless transaction doesn’t respect the strict currency regulations some countries may impose on their citizens, and they can’t trace the source since they won’t even notice.
This also means that players everywhere can evade substantial bank charges, avoid deposit delays, and enjoy a new level of transparency through digital coins. This increases interest in e-Sports tournaments, contributing to the broader network of those interested in crypto.
4. Crypto Increases Trust in e-Sports
Fans won’t be as devoted to the game without trusting the process. They won’t stream, promote, or sponsor teams or players without the trusted crypto and Blockchain offers. Transparency promotes trust, and game developers are also unafraid of not getting paid.
For example, developers primarily use Ethereum. They get paid for their development efforts because Ethereum helps them process smart contracts before work starts. It’s the same between organizers and sponsors. Crypto ensures that concerns about fair distribution of money are eliminated since smart contracts exist, which none of the parties can default on.
5. Ease of Donations and Crowdfunding
E-Sports fans stream tournaments from multiple networks like Twitch and YouTube. However, fans do more than these. Through digital currencies, they can donate to a team or player through these platforms.
Since there’s transparency, there’s no corruption involved, as the deposit will reflect in the recipient’s ledger. Aside from this, crowdfunding for support is more accessible since it can’t be blocked by governments or is inaccessible to people in some regions. All these empower security in e-Sports.
Technology is at the center of the sport and digital currency’s growth, but their symbiotic relationship has made the game easier to play and financially rewarding. Crypto empowers trust and security in e-Sports, and that’s how both industries thrive.
Perhaps, both industries wouldn’t experience their rapid growth and profitability without the efficiency of borderless payment and the ability to create smart contracts and attract donations from fans through a reliable payment system.
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