eSport is one of the most popular forms of entertainment globally. The industry is growing fast, with more people tuning in to watch professional gamers play than ever before. It is estimated that by 2022, there will be over 500 million eSports fans worldwide.
While the popularity of eSport has been rising, the use of cryptocurrency in the industry has been fairly limited. According to BanklessTimes.com, 63% of eSports fans are unfamiliar with digital assets.
Jonathan Merry, the CEO of BanklessTimes, commented on the analysis. He said:
Esport is a multi-billion dollar industry and is only expected to grow in the coming years. This makes it an attractive investment opportunity for those looking to get involved in the cryptocurrency space. The UK is one of the leading nations in the world when it comes to eSports, with a large number of professional gamers and teams.
There are several reasons why crypto is a good fit for eSports. Firstly, cryptocurrency provides a way for fans to directly support their favorite players and teams. They can do this by buying tokens representing a stake in the success of the team or player.
What's more, cryptocurrency also offers a way for fans to bet on the outcomes of matches. This is possible because there are now many decentralized betting platforms that run on blockchain technology. These platforms provide a fair and transparent way for fans to place bets on their favorite teams and players.
Finally, cryptocurrency can also be used to purchase in-game items and other virtual goods. This is possible because some game publishers are now accepting cryptocurrency as a form of payment.
There is still a lot of fear and uncertainty surrounding digital assets. This is one of the main reasons why so many eSports fans are still unfamiliar with cryptocurrency.
The lack of knowledge about cryptocurrency is also a reason for the skepticism. Many people don't understand how it works or what it can be used for. As a result, they might not want to invest in something they don't fully understand.
There is still a lot of work to be done in terms of educating people about cryptocurrency. However, as the eSports industry continues to grow, more and more people will likely begin to learn about digital assets and its potential benefits.
Crypto firms have noticed the gap in the industry and are seeking to convert as many fans as possible into cryptocurrency users. For instance, Fnatic became Crypto.com's first eSports partner last year. Other teams, including Gen.G, Misfits, Cloud9, and TSM, have partnered with cryptocurrency firms.
These partnerships are key to increasing awareness and adoption of cryptocurrency among eSports fans.
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