How Blockchains Can Enhance eSports
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The blockchain may be most well-known for its place among cryptocurrencies, but it is also a standalone technology that can be cut and paste into other areas and industries. One of those is eSports gaming. There is an opportunity for this trending gaming scene to grasp, and it lies in the power of blockchain – and maybe even crypto itself.
What Is eSports?
eSports is an overarching term used for competitive gaming tournaments. Players and teams of players go head-to-head to face off in competitions. Some of these tournaments include huge prize kitties, and a single tournament victory could set a gamer up for life.
This niche of gaming is disruptive, revolutionary, but most importantly - extremely popular. More viewers tuned in to eSports over the last few months while other sports and team events were postponed for social distancing reasons. But when in full flow, eSports usually boasts packed out arenas that resemble football stadiums and joyful atmospheres. Some are even calling for eSports to be added to the Olympics schedule.
4 Ways that Blockchain Can Enhance eSports
1. eSports Crypto Betting
The demographics of people who use cryptocurrencies and the types of people who like gaming as well as watch eSports display a considerable crossover. This offers an excellent opportunity for crypto betting to be cemented within the eSports world. In fact, this is already being completed. PartyCasino recently reported on the work of Ultrapay, abetting technology outfit that is helping crypto to become the future of eSports betting.
2. Enhancing Fan Experiences
eSports is not just gaming online. They are gaming competitions that take place in arenas and the people that attend need all the same purchasing power as other sports fans. They need to buy tickets online and make purchases within the stadium. This could be made more secure with in-app crypto purchases. Imagine paying for a ticket securely with an eSports stadium app and then doing the same inside when you want a cold beet or bite to eat.
Crypto deposits to apps would be no different from the secure methods used on crypto casinos and their apps.
3. Blockchain to Manage Money Distribution
There is a lot of money involved in eSports, with sponsors, competitions, media, venues and players all needing to take a cut from the central pot. To make this process streamlined, efficient and transparent for everyone involved, the blockchain presents the perfect solution.
4. Selling Tactics
With so much on the line for players, they take preparing for eSports tournament very seriously. Just like a pro athlete, they train and monitor their opponents.
Some data companies have been collecting vast amounts of data on teams to understand what they are likely to do in some situations. This data can then be sold to other teams to give them the edge for the next battle. When so much information is being collected, the blockchain can again provide an answer. It can be securely stored on a blockchain to avoid data hacks and to protect the company's product/service.
This is just one of many ways that blockchains mitigate security issues!