The rapid growth of E-Sports industry is attracting major investors, celebrities, big brand sponsors and leading technology companies. The industry is estimated to reach $1.5 billion by the year 2020, and a recent report from Newzoo also backs this growth, saying revenues from E-Sports and competitive gaming will grow by whopping $700m in 2017, a 41.3% increase from 2016. And the advent of fast-growing technologies like Blockchain & Cryptocurrency is giving boost to the further growth the E-Sports industry
As gamers are inherently the early adopters of every new technology, blockchains, and digital cryptocurrency are not at all new to them. Industries like financial and digital have already been shaken up with the potential these techs are showing and gaming industry is following the trend of its adoption. As most gamers are millennials, the demographic is young and have a higher adoption rate of such technologies.
Applications of New Technologies in E-sports
The use of cryptocurrency and blockchain technologies are increasing at online betting platforms for competitive multiplayer games. E-sports betting here at William Hill Online offers you a quick discovery of top E-Sports gaming events data and check the odds for top multiplayer competitions.
As Startups are taking the most advantages of using these technologies to enhance the player as well as audience experience for E-sports industry. From smart contracts, hosting tournaments, the transaction of virtual assets and fuel betting is at the center of innovation for the sake of growth in this industry. Even big platforms are emerging to help amateur gamers to become pro gamers by using technologically solid team building platforms and performance analysis for gamers.
Transforming into Pro Gamers
As there are various games like League of Legends, World of Tanks, CS:GO and their individual professional tournaments, the real opportunity in E-Sports pro gaming lies in building teams and managing them in a right way. As majority of tournaments the team-based, developing the coordination and reaching out to highly skilled players is quite a task considering there are 1.4 billion registered gamers and majority of them willing to go for professional gaming.
Team building with block-chain
Platforms like Dreamteam is using blockchain-based tournaments that help recruit and manage various levels of E-Sports Teams. Smart contracts powered by blockchain assures the financial relation between players without any third party integration requirement.
These platforms take data from game APIs and allow players to play games from novice to pro scales. Based on the performance they not only get awarded but slowly and steadily moves to higher ranks and become eligible to participate in professional competitions. The use of cryptocurrency and digital wallets eliminate any delays in paying the gamers or for the users of E-Sports betting platforms. With technologies solving problems faster than ever, this technology alone can help E-sports and online betting industry grow into a multi-billion dollar industry.
The fate of cryptocurrency is currently under the scanner of regulators and might see some corrections in its overall adoption rate, there is no doubt that solid infrastructure that blockchain technology offers, it will potentially help the audience for E-Sports gaming grow at never seen before pace.