How crypto is helping eSports to grow?

The impact of cryptocurrencies and blockchain technology is undeniable in many industries including the gaming industry. This new technology revolutionized gaming forever, and it might become the new standard for the future.

Cryptocurrencies and blockchain technology brought a few new and interesting concepts to the gaming industry. One of the biggest changes that were introduced with this technology is the ability for players to own pieces of a game or digital content in form of NFTs.

Also, the introduction of decentralization brought many possibilities for the gaming industry which is why it is growing in the past couple of years. New options like crypto betting opens up many new opportunities for everyone involved in the process.

This brings us to the question of how is this new technology helping eSports grow. Let’s find out.

Crypto Esports is a Billion Dollar Industry The eSports market has developed hugely throughout the past couple of years, accumulating billions of dollars in revenue over different sources. Right off the bat, the business has north of 400 million fans overall who purchase games and in-game resources. Then, at that point, there are competitions on eSports’ greatest games, including groups of expert gamers, that create a big buck on single occasions. Also, we have fast-growing streaming platforms like YouTube Gaming, DLive, Twitch, and Facebook gaming additionally add to the business’ income. With the numbers done in fans and income by the eSports business, the area continues filling in ubiquity, drawing in organizations from different ventures, and the crypto-business isn’t forgotten about.

The crypto-business laid out its presence in the eSports business by involving digital forms of money as a method of installment on eSports wagering stages. Bitcoin was the spearheading digital currency with esports crypto wagering despite everything being the most acknowledged crypto. With the right wagering stages, knowing how to wager on Esports with BTCis simple. Wager in your #1 eSports groups with tips and top to bottom examination from eSports occasions.

Be that as it may, the scope of the crypto business has broadened more than eSports bet with crypto. Crypto stages are presently cooperating with eSports groups to move the business farther than where it is currently.

How Crypto Pushes the Popularity of eSports In the past couple of years, we’ve seen many crypto projects, including crypto exchanges and other entertainment-based blockchain projects that are partnering with big eSports teams, striking deals worth millions of dollars.

For example, we have the Singapore-based Bybit, which partnered with Natus Vincere (NAVI) a popular eSports team, that spread better awareness of professional gaming.

The crypto industry opens up many new opportunities for the eSports market. Some of the recent trends that might have a huge impact on the eSports industry are:

Play-to-Earn Games and NFTs The entire blockchain technology introduced us to a new concept of gaming called play-to-earn, where such games are backed by blockchain and participants can earn crypto tokens or digital collectibles for performing certain tasks.

These tokens or digital goods can later be converted into cash, which means that players can profit by playing their favorite games.

What’s really about to change is the sense of ownership of digital in-game assets. Thanks to the blockchain, people can now own all of their in-game assets like cosmetics, weapons, and other things. This will not accelerate the entire eSports industry, but it will also open up many opportunities for rewards and other things.

eSports Betting is Influenced by Crypto Wagering with digital currencies has changed a few things about regular wagering for good. First and foremost, with crypto bets, your wagers are put more safely than using any other payment processor online.

The dangers are extremely restricted with the safety efforts set up while attempting to send and pull out assets for wagering on eSports. Moreover, you’ll get a straightforward record of things on the public ledger and can follow your exchanges’ advancement.

Your payments are likewise made quicker with digital currencies compared to traditional fiat money. For instance, traditional fiat currencies require a lot more processing time in order to see the funds arrive in your bank account, however with digital currencies, exchanges are made in a flash in no time.

Since betting is a huge part of eSports, adding a crypto infusion to the market will make the entire betting process more efficient, secure, anonymous, and transparent. On top of that, it will open up new markets that were not available before.

eSports betting is growing rapidly in the past couple of years, but it is still not to a point where everyone all around the world has the ability to place bets on eSports games at any time. Most such betting actions are not covered by some of the local bookmakers, or they have some sort of geo-restriction for accessing official esports bookmakers.

With that said, crypto will only make the entire eSports betting market more efficient and will open up new opportunities for both bettors and players participating in the process to earn money.