The rise of NFTs and Metaverse technologies in recent days has drawn the attention of many users. Because in this way, the adaptation of Crypto and blockchain technologies to the Esports industry has also accelerated. However, the Crypto industry attracts players’ attention with the attractive opportunities it adds to the Esports industry.
However, not everyone agrees on this issue, and some communities need to be convinced. Therefore, we will examine the Crypto and online betting on Esports relationship in today’s topic.
Due to the Covid-19 pandemic that emerged in 2020, the Esports industry was having difficulties. However, when we came to 2021, the ESport, Crypto, and Blockchain industries experienced huge growth by influencing each other.
Especially in the region where these developments occur, you cannot expect the betting industry not to be affected by them because the tournaments of games such as CSGO, League of Legends, Dota 2, and Valorant are watched by millions of people. At the same time, hundreds of thousands of people who watch also place bets on these games. With these in mind, let’s take a look at our Esport and Crypto article without wasting any more time.
The Rise of Esports and Crypto
As we mentioned in the first part of our article, the Cryptocurrency industry has grown tremendously in 2021. In addition to this growth, it has started to be spoken and known by people globally more than ever before.
In fact, big companies such as Crypto.com and Coinbase have made important breakthroughs and enabled more people to enter the sector. Because if Cryptos will be accepted by everyone, the way to do this is through the Esports industry. In line with these developments, Crypto.com bought the naming rights of the LA Lakers, one of the NBA teams, on November 16, 2021, for $ 700 million for 20 years. And again, Crypto.com has signed with Twitch Rivals, which appears to be the leader of the Esports industry.
As you know, Twitch Rivals has a structure that undertakes the organizer of Esport tournaments. Especially in the past 2021, Twitch had 140-150 million monthly active visitors. We think it looks exciting for Crypto to enter the industry with such a huge and young community.
In his moment of truth, @KingJames called it.
— Crypto.com (@cryptocom) February 14, 2022
Crypto World and Esports Sector Intertwined
When you say eSport, you usually think of Dota 2 International, CSGO, League of Legends, and Valorant. Because they are the building blocks of a huge industry with millions of viewers and superstar gamers.
As the magic of this popularity affects many Cryptocurrency exchanges, they are trying to enter the eSports space in various ways. Moreover, the competitive environment of eSport tournaments also provides the opportunity to place bets. This means that Cryptocurrency will be used in betting sites. Precisely because of this, it becomes inevitable for both industries to get closer to each other and establish various connections.
Cloud9, one of the legendary teams of the eSport world, signed a huge deal with Blockchain.com. In line with this agreement, they will create dialogues about financial literacy and Cryptocurrency. In order to understand the importance of this news, it is necessary to look at what Blockchain.com has done since its inception.
It is seen as the world’s largest and most reliable Cryptocurrency platform, as they have processed more than $1 trillion since their first establishment in 2011 and have 81 million wallets.
Another important initiative is the integration of Exodus Crypto wallet company with SportX to develop new technologies about eSport betting. At this point, considering that Exodus has more than 1 million users, we will see the potential of the number of communities that can place eSport bets.
Other Crypto and Esports Partnerships
We know this news is exciting. Because both sectors are on their way to becoming the creator of a trillion-dollar ecosystem, at this point, we would like to share with you some partnerships that marked the sector and the beginning of 2022.
Before Cloud9’s deal, Bitstamp, one of the old and well-established Cryptocurrency exchanges, signed a deal with two of the biggest companies in the Esports world. The first of these was London-based Guild Esport, and a sponsorship deal was reached for a total value of 6 million. The other was Immortals, a US-based esports organization.
Although it is not known how much this company was paid, the task the Immortal team took on in 2022 is extremely exciting. Because Immortals is fighting in LCS 2022, Bitstamp and Immortal will also work on future NFT activations.
Could Crypto Gaming and NFT Be the Future of Gaming?
We have to admit that NFTs and Metaverse are extremely innovative and very exciting to the young gaming-loving community. The rise of Metaverse projects in 2021 actually goes back much further. The virtual concerts, in which millions of players actively participated, were especially revolutionary. Of course, in pursuit of these, the fact that the players now want to earn money while playing games makes Crypto Gaming the industry of the future, together with NFTs.
In this direction, PewDiePie, which has more than 107 million subscribers on Youtube, announced that it supports the innovative game called Wallem, which supports blockchain-based augmented reality. With the game items in Wallem, you will be able to use NFT technology and earn money while playing.
Of course, the Crypto Gaming industry is not just about that. With thousands of players, Axie Infinity is currently one of the most popular NFT games. You can both enjoy playing and earning money due to its gameplay style, similar to Pokemon. Using Ethereum-based Cryptocurrency AXS and SLP, you can easily convert the money you earn into cash. According to the latest data, it is estimated that a total of 50 million dollars of NFT trading was made in Axie Infinity in July 2021.
As you can see, the Esports and Crypto industry are intertwined with each other. Especially in this process, which started with Coinbase sponsoring the BIG Esport team, most Crypto Exchanges continue to sponsor the Esport industry. You have already read the latest news about them in our article. Probably in 2022, we will encounter much bigger news and events about Crypto and Esport betting.
If you are curious about more detailed and up-to-date news about Esports or Crypto Worlds, continue to follow us.
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