ESports Becoming Blockchain-Only Following Mark Cuban’s Backing of ICO?
ICOs prove that Blockchain technology is the way forward for eSports.
The eSports industry is getting a massive Blockchain technology makeover from some pretty famous corners these days. The recent news that Ethereum co-founder Mark Cuban’s eSports betting platform Unikrn raised over $31 mln broke over Twitter:
Such a substantial support for the token sale is a sign that Blockchain is making big inroads into both technology and betting sectors for eSports.
The eSports betting platform Unikrn is allowing users to participate in the eSports industry in new ways. For example, users are able to earn tokens simply by playing games, and the platform is giving away skins and prizes for active participants.
However, the backbone of the platform is a focus on betting. Users are able to bet on matches using platform tokens, or real funds in certain countries.
Other platforms have also made inroads into the eSports betting world as well. For example, Eloplay is an already functioning platform that is now using Blockchain technology to allow players to challenge each other for prize pools using smart contracts. The platform creates a system that allows gamers and companies the chance to create pools and offer prizes in a secure way through smart contracts.
While betting on eSports has been occurring since the industry’s earliest days, the power of Blockchain technology is reshaping how these events are scheduled. Cuban, at least, sees the value in such platforms.
Not only is the betting aspect of eSports getting a Blockchain upgrade, but the gaming platforms themselves are receiving a boost. For example, GameProtocol is creating a new decentralized platform that allows gamers to connect with each other, developers to use Blockchain tools and even a decentralized app store for everyone. According to the GameProtocol CEO, Jonathan Swerdlow:
“Blockchain is one of the most advanced and secure technologies ever built by mankind, the gaming industry will quickly shift to this upcoming decentralized internet 3.0. The internet changed gaming forever but Blockchain will take it even further. GameProtocol is positioning itself to become the leader in this space.”
Because Blockchain technology removes the centralized hub of these systems and provides a functioning intermediary through technology, players and developers are able to communicate directly and interactions are smoother and simpler.
Further, the decentralization process will also allow for pooling of bandwidth in order to increase efficiency and speed of play. Computing systems like those being developed by Network Units will create the ability for gamers to tap into and utilize huge pools of bandwidth that are otherwise cost prohibitive. According to Forbes:
"Network Units is an online gaming platform with a built-in player reputation management. It provides decentralized and scalable computing resources to augment developers’ infrastructure and mechanisms to mitigate cheating, downtime, and costly maintenance that developers often face when using traditional means.”
This bandwidth pooling feature of Blockchain technology is already being used effectively to put a stop to DDoS attacks and others. However, the power to then utilize that bandwidth for eSports applications will revamp the way online gaming occurs.
Cuban the frontrunner
If the power of Blockchain can revitalize the eSports world, it may be that Mark Cuban is a frontrunner in the space, just as he was with Ethereum. As gaming, betting, and technological solutions for eSports come online, the industry will inevitably experience a change in leadership, from centralized corporations to decentralized platforms.