Why haven’t we seen the explosion like in NFTs?
Esports and crypto audiences share many similarities — especially across demographics. Both are predominantly male, between the ages of 18–25, with a heavy interest in Pacific Asia. With nearly 500M esports viewers and enthusiasts in 2021, and over 100M crypto users, one would expect a strong overlap between the technologies. However, esports and crypto have not merged or expanded together the way art and blockchain have with NFTs. Why is this the case? Why haven’t we seen major growth despite the synergies across the two industries? This article will present some reasons as to why, and how we can better leverage opportunities across esports and the blockchain.
The User Experience (UX)
Esports and gaming have evolved significantly over the years to deliver exceptional UX. Large scale teams are dedicated to evolving everything from the graphics to little things, like how you select items. Every second of your gaming experience is designed to make you love the game and play longer.
Games on the blockchain are focused on blockchain technology itself, with little commitment to UX. Most game graphics are very basic and the general user journey is clunky. This in part due to how new gaming on the blockchain is. CryptoKitties, considered the first widely adopted game on the blockchain, launched in 2017, compared to the first esports tournament (not game), Red Annihilation, which was launched in 1997.
The Collaboration
This brings us into the next reason as to why esports fans haven’t migrated to blockchain based games: tournaments. The excitement, intensity and commitment of tournaments is a huge draw for esports. Whether you’re participating in or watching the tournaments — there is a significant appeal to them. Let’s not forget the earning potential — The International Dota 2 2019 prize pool was over 34.3M dollars.
Blockchain based games are also designed for collaboration but mostly through metaverses, where individuals can create their own worlds and have others play in them. The type of collaboration is very different and isn’t necessarily designed for a competition landscape.
The Bridge
Rather than attempting to rebuild esports on the blockchain, Verasity, with Esports Fight Club, is bridging existing esports tournaments with crypto. Verasity is bringing some of the biggest names in gaming to Esports Fight Club. Esports players and viewers can earn crypto rewards by doing what they love — viewing their favorite esports tournaments. Meaning gamers can enjoy the thrill of existing big named tournaments whilst earning crypto for doing so.
When it comes to crypto and esports, Verasity is changing the game by delivering existing quality esports content — but with a rewards mechanism to drive further engagement. By providing a rewards system, Esports Fight Club incentivizes gamers to participate or watch esports games they already love AND ones that they may not have considered previously.
To learn more about Verasity, visit verasity.io. To begin earning rewards on Esports Fight Club, visit esportsfightclub.com and click on the trophy cup on the right side of the tournament video to get started.
About Verasity
Verasity.io is a Protocol and Product Layer Platform for Esports and Video Entertainment. Verasity’s mission is to significantly increase engagement and monetization for video publishers on any video platform. Verasity products include: a proprietary ad stack and the VRA Rewards System integrated into SDKs for YouTube, Twitch, Vimeo and all major video platforms. Verasity’s patented Proof of View, a protocol layer technology offers transparency and immutability to defeat online ad fraud and NFT fraud.
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