The e-sports project Eloplay has announced the integration of blockchain into its platform

Home » FINTECH » The e-sports project Eloplay has announced the integration of blockchain into its platform
2018-04-11
The e-sports project Eloplay has announced the integration of blockchain into its platform

Briefly about e-sports

Cybersport is a relatively new phenomenon, which has managed to engender a whole branch of business. It is essentially a competition in computer games. Cybersport has already become a part of the Asian Games of 2022 and may enter the official program of the Olympics-2024.

The total number of online platforms for games is constantly growing. The total profit of the companies in this industry by 2020 will reach one and a half billion dollars. The audience of cybersport events is constantly growing and reached 400 million people in 2017. The “Report on the e-sports market” states that their number by the end of this year will be at least 58.4 million people.

It explains the increased interest to the industry from the players and from the large companies that see the opportunity to advertise their products and services to a new audience. Most of these platforms ignore the opportunities that the blockchain offers. However, there are many examples of online platforms that have already implemented blockchain solutions in their work, or at least expressed their intention to do so in the near future.

Blockchain and eSports

Various online casinos and e-sports platforms are happy to take advantage of the opportunities that the blockchain offers to them. Some of them conduct ICO to receive funds for the further development. A number of experts believe that the e-sports market will undergo mass tokenization and the introduction of smart contracts in the future.

FirstBlood is a good example and it has already been operating for more than a year. Users can play, compete with each other and win rewards.

Another platform – Gilgam.es – recently conducted an ICO and plans to release a beta version of its product in late 2018. It will implement smart contracts for each match, betting functionality, as well as artificial intelligence, which will confirm the fact of winning a particular team. Over time, the same system will be used for ban cheaters. The set of games on it is identical to that offered on FirstBlood.

Decentralized future of e-sports

Of course, there are other projects that integrate Blockchain in the e-sports industry: some offer a special token to purchase skins on the Internet, others focus on the gambling side of the industry and offer “advanced” betting options.

As more projects integrate decentralized elements into their platforms, the mass tokenization of the e-sports industry can only be a matter of a short time.

CRYPTOCURRENCIES
  • bitcoinBitcoin$5,214.60
  • ethereumEthereum$179.10
  • rippleXRP$0.354044
  • tetherTether$1.00
  • eosEOS$5.82
  • stellarStellar$0.126388
  • litecoinLitecoin$87.29
  • cardanoCardano$0.087808
  • tronTRON$0.030048
  • moneroMonero$69.81
  • iotaIOTA$0.348783
  • nemNEM$0.073060
  • dashDash$132.02
  • neoNEO$12.46
What is Cryptocurrency? How to Use, the Future of Crypto, the History of Bitcoin
Cryptocurrency market is actively developing and expanding. This relatively new industry is causing a lot of questions and attracting a huge number of investors, businessmen and ordinary people. “What is the future of cryptocurrency?”, “How to choose cryptocurrency exchange?”, “How to sell Bitcoins?” “What about cryptocurrency mining”? Millions of people read cryptocurrency news everyday and […]
2019-04-08 0 47
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 45
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 44
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 42
© 2017–2018