The esports industry and crypto market have shown the best of both worlds as they’ve grown over the years. Both industries have become a huge part of innovation as of late. Let’s talk about how esports can improve with the use of the blockchain.
Both esports and the blockchain have a similar past. When they entered the scene, people were questioning their viability. Over the years, both entities have proven that they belong and they have succeeded massively. Esports has become one of the mainstream sources of entertainment and an awesome way to compete in video games.
On the other hand, blockchain technology is an essential part of the crypto market. It is a huge system that helps in the rise of cryptocurrencies and other assets in the market. Now, let’s talk about how these two entities can work together and help each other and make an overall better product.
The blockchain can impact teams’ relationships with fans
Fans have been a huge part of esports’ growth over the years. When you look at the esports Canada scene, you will see that the fans love to buy merchandise so they can support their teams. There is true passion when it comes to loyal esports fans since they’ve proven to be ardent supporters of the team. Since there are a lot of esports fans who are also crypto enthusiasts, the connection between the two industries is easy to make.
With the blockchain, teams can gather more insightful data about how they can drive even more engagement and revenue for the team. Teams can have blockchain-based loyalty reward programs so they can incentivize the higher levels of engagement that these fans can do.
You can even make some blockchain-based memorabilia which some teams have already done with non-fungible tokens. Teams have shown that they can produce NFTs and that is linked to a team’s identity or a huge moment during their run.
Two-time Dota 2 The International champs, OG entered the NFT space back in 2020 and they influenced fans who are interested in the blockchain.
Some fans can even benefit when teams are tokenized because they can have a stake in the organization. This hasn’t happened to any major esports org just yet but it is a definite possibility.
The blockchain can help gaming and esports’ growth
While some esports fans can be supporters of the blockchain as well, you might be surprised that some blockchain enthusiasts do not know anything about esports. However, gaming and esports have emerged as a large area of interest around the internet and the blockchain can improve that.
There are already some blockchain-based programs out there that can improve anyone’s experience while watching these esports games. There are even some platforms that help people make esports bets and they’re rewarded with cryptocurrencies.
Gaming and esports are part of the mainstream industry now but they can grow even further if the technology is used right. If this happens, you might see people from the esports Canada scene talking about the blockchain.