Using Blockchain To Improve The Gaming And eSports Industries Is Right Around The Corner

Using Blockchain To Improve The Gaming Industry

Sometime in October of 1958, a man called William Higinbotham officially introduced something he had been working on for quite a while. The game, Tennis for Two is probably the first video game ever made and was played by two individuals using separate controllers directly connected to an analog computer. Higinbotham might not have known it at the time but his creation had such a wonderful result that its effects are still felt to this day.

Growth In The Gaming Industry

For many years, video games have continuously been developed with manufacturers making significant improvements on every new edition. Today, the video game sector is a multi-billion dollar industry that consumes huge amounts of money and also creates employment for thousands of people all over the world.

In 2017, Epic Games – a major player in the gaming industry – released a game called Fortnite which went significantly viral. Fortnite became the world’s most popular game by 2018 and increased the firm’s valuation to about $15 billion. By the end of 2018, reports had it that Epic game amassed a profit figure running into $3 billion for last year alone.

There also were reports that in 2017 also, the total amount of money Americans expended on video games shot up to a whopping $36 billion.

eSports

All the success recorded in the gaming industry has drawn a lot more investment and financing, giving birth to many other games and platforms such as eSports. Here, many players from different teams in different games create tournaments and play games to be religiously observed and followed by hundreds of millions of interested parties worldwide.

These tournaments are expensive to set up and run and players (especially winners) make a lot of money off them.

Blockchain In Gaming

Due to the amount of investment and sponsorship recorded by the industry, a lot of money is being made. However, people seem to be unhappy about how much the athletes themselves are making. Apparently, the owners and managers of the teams and leagues make a lot of money but only pay a fraction of it to the gamers. In some very disturbing cases, the gamers themselves get nothing at all.

Due to this, gamers and other stakeholders are calling for proper management of the platform and a new way to make sure things run smoothly and people are paid their due as a way to keep investments coming because if there is too much rancor, investors might be reluctant to put in their hard earned money. This is where blockchain technology comes in.

Blockchain application has proven to be very advantageous in many other different sectors because of its decentralization, scalability and strong security, It is now believed that blockchain is the answer to the gaming and eSports problem.

Collaborative Efforts For Blockchain Solutions To Gaming

A few partnerships announced in recent times just might end up birthing the solutions the industry needs. Enjin Coin (ENJ) a firm that handles the incorporation of blockchain assets for games has entered into strategic partnership with major players like Samsung and also Unity, the largest gaming engine in the world. These partnerships, its hoped, will be a new dawn for the industry.

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Tolu
Tolu
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify bitcoin stories to the bare basics so that anyone anywhere can understand without too much background knowledge and add in social research and feedback insights. When he's not neck-deep in crypto news, Tolu enjoys music, loves signing and is an avid movie lover.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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