Since the price explosion of Bitcoin in December last year, the Blockchain technology has arrived with its crypto-currencies in the minds of many consumers. Some people refer to cryptocurrency as Next Level of the Revolution after the Internet’s Launch, technology is also increasingly attracting start-ups and tech-giants from other industries. Right at the forefront are some projects from eSports. Why? Because the potential of the two markets is obvious.
What is Blockchain?
The Blockchain is a decentralized database that is mirrored in a network of many individual computers. The database entries are summarized and stored in blocks. A consensus mechanism used by all computers ensures the authenticity of the database entries.
The manipulation of the entries is thus not possible or only with an unimaginable effort. The Blockchain model was originally developed as a decentralized accounting system for the cryptocurrency Bitcoin and has gained potential especially since the addition of smart contracts: By using digital, automated contracts, for example, bureaucratic processes could be simplified, accelerated and reduced. Cryptocurrencies are based on the Blockchain, making it so fast and attracting progress. That’s what makes eSports so interesting for using Blockchain.
For investors, spectators and visionaries, eSports combines elements learned from classic sports and entertainment with the possibilities of new technologies that are emerging as a result of digitization. Emotions, stars, sold-out arenas and millions of viewers in the streams. The fusion between the real and the digital world can be experienced directly and intensively in the context of eSports. The magic lies in the fusion of both worlds and the tense ignorance of what’s to come.
eSports is global, always on and its enthusiasts have a thing for everything that drives their passion. The young, digitized and educate group is extremely receptive to technical innovation. In addition, the fanbase is much more homogeneous compared to other sports, which makes them well addressable in communication.
Playground with a View
The market is increasingly expanding, making it particularly interesting as a digital playground for new business ideas. In addition, the eSports ecosystem is literally screaming for new ways to monetize and, with its broad entertainment offering, has great potential for developing smart solutions for the marketplace.
Big Data is also in the boat
Enough data that you could work with is available. Everything that happens on the server can be tracked and is available live. Combined with the possibilities of the blockchain, cryptocurrencies and smart contracts, the flood of data holds extreme potential.
The consumer trends, the opening to the outside of the industry and a culture of entertainment based on technology show that we live in an ideal time to invest and finance projects related to this innovative way of understanding the sport.
According to one of the leading eSports marketing portals in the world, eSports had a global audience of 256 million viewers in 2016 through platforms such as Youtube or Amazon Twitch. The volume of business amounted to 493 million dollars, 50% more than the previous year and forecasts predict similar growth in the coming years.
This data, together with the rich profile of the fans (mostly men between 18 and 35 years old), make eSports the perfect way for some brands to approach new generations of consumers. It seems easy to understand that companies such as Acer or Intel are sponsors of the sector, but the number of companies outside the sector that already invest in eSports does not stop growing. Audi, Red Bull, Nike or Vodafone are just some examples.