E-Sports and In-game Economies come together in Gamebet.gg
E-sports and Bitcoin stand at a unique point of time in history where-in both are poised for substantial growth.
E-sports and Bitcoin stand at a unique point of time in history where-in both are poised for substantial growth. E-sports or competitive gaming is set to have over a billion individuals being involved with it by the end of the year and is soon to compete against mainstream sports such as soccer for the minds and hearts of a young generation. Capitalizing upon this is a new start-up that brings together the blockchain and in-game economies in a betting platform unlike any before. Gamebet.gg offers betting on E-sports matches with steam items and Bitcoins, bringing a whole new world of users to decentralized currency. While E-sports betting has been seeing rampant growth over the past few years, there have been few attempts to combine Bitcoin and In-game items in the fashion Gamebet.gg aspires to do. What makes Gamebet.gg unique is its on-platform marketplace that allows the exchange of items to Bitcoin and vice versa with the click of a button. Additionally, platform tokens that go by the name of Steam Silver allow individuals to choose what items they'd receive as their prizes in the event that they win.
Intertwining Gaming & The blockchain
With Steam moving towards accepting Bitcoin over the last month, the gaming world is increasingly waking up towards the role of decentralized currency. Such systems of transaction help individuals from emerging economies interact with in-game economies without having to go through the nuances of conventional forms of banking. Gaming organizations are increasingly seeing the value of the blockchain in their operations and gamebet.gg is positioning itself ideally to capitalize upon this. GTA 5, a prominent open world platform saw over 500 million dollars transacted in micro-remittance over the past year. Games like Counter Strike have a much more vibrant and thriving in -game economy with items worth hundreds of thousands of dollars moving hands each day. With the unique value proposition of an on-platform marketplace and betting system, Gamebet is poised for massive growth and success in the months to come.
Fundraising & Growth
The platform had crowd-funded in the first quarter of 2016 and had released an early beta variant. The developers of the platform are in the process of revamping the system for a new user interface and scale. Unlike conventional crypto-currency projects that usually demand funds before a prototype, gamebet went to the market with a pre-built MVP and won the hearts and admiration of countless investors who have been supporting the project in various capacities.
Gamebet.gg is focused on a very niche crowd that has shown substantial growth in the recent past. Start-ups like twitch.tv have been able to establish themselves by focusing on the very same crowd and due to the same the outlook for Gamebet looks optimistic on the long run. . The project is all set to come out with its marketing initiative in the weeks to come and have been in active talks with a number of teams of varying capacity over the past week. Additionally, the platform seeks to run a gamer related faucet that interacts directly with in-game operations and rewards users for playing optimally. The faucet will give millions of gamers around the world a chance to experience the blockchain for the first time and onboard a new generation of users into the ecosystem. The core product currently offers only a fraction of what the platform can grow into. Projects like prediction market integrations and research on integration of a fantasy league into the project as the enterprise grows is in the works and the organization is in active talks with players in the field. As the new user interface for the platform rolls out later this month, all eyes are set on the project and its potential for growth. As steep as the learning curve is, the developers of the project seek to provide massive value to the ecosystem while profiting proportionately and remain very open to possible partnerships and synergies.
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