Online gaming is an industry that is growing at a fast rate and even becoming a profession for a lot of people across the globe.
The opportunity to compete with other players who may be just a few meters or thousands of miles away gives the industry such flexibility that participants are exploring to enjoy a boundless enterprise that offers fun, recreation and rewards at the same time.
An evolving industry
Traditional gaming platforms offer centralized systems where winners of competitions are determined and rewarded by a particular virtual or human umpire. The emergence of blockchain technology took gaming administration a step further by initiating automated reward systems that are governed by smart contracts. In such cases, game results are rewarded automatically by a predetermined transparent system.
These developments and more are contributing to the popularity and global recognition of eSports in general.
eSports will be an official discipline at the 2022 Asian Games in China, which is the boldest step yet toward mainstream recognition of competitive gaming. And it might be added to the Olympic programme as an official medal sport in 2024.
Blockchain for equality
Multi-gaming blockchain enabled company, Eloplay is taking innovation in gaming a step further by creating a decentralized platform where users can design their own competitions.
This innovation will eliminate the segregation that currently exists where smaller and amateur gamers are denied the opportunity to compete for major prices.
Usually, global brands and game developers conduct major tournaments with million dollar prize pools. However, only a small group of professional players can compete for those prizes. It creates inequality and leaves millions of amateur players aside with no chance to compete for major prizes.
The Eloplay gaming platform will allow players and teams to challenge each other for decentralized prize pools. This is made possible by leveraging smart contracts technology to create “Smart Tournaments”.
These Smart Tournaments allow players and brands to organize eSports tournaments of any scale, using the Eloplay Tokens as the prize pool. So players can compete for big prize pools and brands can conduct their own eSports tournaments to engage the audience.
A new idea from an old hand
Having existed in the ecosystem for the past 18 months, Eloplay boasts of the robustness that will not only enable its stability, but also a balanced project that will sustain the various operational aspects of the new world gaming order.
In order to execute its plans, Eloplay is embarking on an Initial Coin Offering (ICO) that is slated to start on the 16th of October 2017, with pre-ICO taking place two weeks before.
This ICO, unlike many before, is not arranged to set up an entirely new company or product. Such is mostly the case with most ICOs that have been executed, especially within the gaming sector of the blockchain industry.
ICOs that are carried out for the purpose of setting up entirely new products have been the major cause of reluctance from certain investment quarters. This is because such programs are usually based strictly on “brilliant ideas” and not proven products. Therefore, some of them eventually do not make it beyond the point of innovation.
On the contrary, having existed for the past 18 months and offering products that are already stable within the ecosystem, Eloplay’s plan for expansion by introducing additional products to its platform is as simple as swimming in familiar waters.
A land of opportunities
Considering the fact that the entire blockchain industry is still in its early stages, sustainable products and the peculiar sectors of the industry that they belong to will in no doubt represent profitable assets for both the short-term and long-term future.
From existing analysis, the global eSports audience will reach 385 million in 2017, including of 191 million eSports enthusiasts and a further 194 million occasional viewers. The global eSports awareness will reach 1.3 billion people in 2017 and is estimated to reach 1.8 billion people by 2020. The overall number of eSports participants in the world will have reached 58.4 million by the end of this year.
Incidentally, this does not come as a surprise that experts call eSports the investment opportunity of the decade.