The Need For Transparency…
Competitive gaming has a bright future with the advent of eSports. I remember when playing video games was looked at like a toy, but now it's starting to look like a profession. You have professional gamers that stream, compete, and train teams for big bucks. The amount of spectators that tune in to watch these tournaments are in the hundreds of millions and growing every year. So naturally the money is flowing straight into “eSports”. What we really mean when we say “eSports” is the sports for the next generation of people. The intersection of technology and video games makes it a perfect match. You have a global player base that can perform in this new kind of sport. You don’t have to be tough, fit, and genetically predisposed for this anymore. You just have to be dedicated, smart, and fast with your fingers.
So with this new style of sporting events how do you keep an account of what is happening like you would if you were to watch a football game?
I personally do not think the majority of people fully understand yet what blockchain technology can do for businesses including the esports industry. Heck, it's still brand new and misunderstood. That is likely for any new game-changing technology. Remember how the internet took decades to evolve into what we can’t live without now?
A gaming attorney that we consult with recently wrote an article about the future regulation of the esports industry because of the sheer amount of money involved in it at this point in time. I don’t disagree at this point that it is most likely coming. So let's think about that future world where a regulator needs to be able to ensure fair and honest games or the integrity of the industry. If you are entering a tournament online you are typically connecting to some companies API that warehouses all the data of the game. You are essentially trusting that company with all the data. Various tournament operators that exist online today all use those companies API to validate the outcome of that tournament (or some 3rd party that uses the API anyways). So now you have a regulator having to go to each and every game to perform audits of that data. Not the best system. We can do better.
Some people might be asking… Why change this? What is so bad with how this works now? My answer is that its not bad. It's obsolete.
If eSports is going to dominate the headlines for decades to come, there needs to be a universal system that plugs all these games and players together. Blockchain can do this and it is why we are developing the Kronoverse platform for game development. Let's not stop at just the players and games though. We can have data analytics, advertisements, sponsorships, identity, KYC/AML screening, game persistence, the metaverse (where games talk to each other in code), and so much more it's bewildering.
We are on to something massive and it could innovate the eSports industry and video games in general. It all starts with a grand vision, but you have to build it for that vision to become a reality.
CryptoFights is forcing us to think about how video games can operate in the future. Bringing new business models and expanding the horizons of both the player and game developer. This is an exciting time to be a gamer…
