Having experienced the ups and downs of popularity over and over again, cryptocurrency is gradually being woven into all sorts of areas and becoming an essential aspect of gaming. Crypto in esports is gaining more and more interest (especially with the emergence of NFT) from various organizations and developers.
Games and crypto have long had a similar trajectory of development and growth. In 2022, video game sales worldwide were $200 billion. Esport tournaments have soared to $2 billion in total payouts. The addition of crypto to esports will be another step toward rapid development.
How does crypto help esport?
While regular payments require authorization from the government or banks, a crypto one does not, which allows gaming organizations and players to play with each other internationally without having to go through those loops while also having a secure way to finalize their transactions. There is no need to share their identity, and gamers can use cryptocurrencies to withdraw their funds anywhere in the world.
Betting on esports with crypto
One of the most meaningful esports crypto developments recently is making betting on esports easier and safer. Organizing any betting in various countries is a tricky procedure. Many people do not have the option to bet with their local currency or do not want to do it because they have to validate their identity, which makes them feel insecure if they win big.
Crypto for esports betting does a great thing in this area, as anyone can organize a safe betting platform through a crypto wallet, and everyone can participate in crypto esports betting if they have some cryptocurrency. Even if a person did not have the correct cryptocurrency, the system would change it automatically, which is the beauty of crypto.
Crypto exchange options
The first thing you can do with a cryptocurrency is to exchange it for a different cryptocurrency than the one you have or for a real currency like the United States Dollars, Euros, or your local currency.
However, there are more crypto exchange options. There are already thousands of places where you can use your cryptocurrency wallet to pay for physical items, and, in certain countries, you can even pay for your order at Burger King or McDonald’s.
One of the biggest markets where you can exchange real currency or cryptocurrency for an NFT is the DraftKings NFT marketplace. There are over a million NFTs to purchase, and more shall come as time goes by. The only issue with this marketplace is that it is blocked in certain countries, but using a VPN does solve that issue.
While many people associate NFTs with images of monkeys with different hairstyles and things like that, there is much more to it. Crypto esports is where that can be noticed the most, and this esports essentially revolve around games you can purchase and NFT with which you can play a game.
Crypto gaming platforms are places or games where you can purchase an NFT, start playing a game, get your money back, and potentially start making a considerable income. These platforms are essentially games where you have to invest in an NFT to play the game, or you could join a crypto gaming guild if your funds are short to start you off.
Introducing crypto into esports is still a recent phenomenon, but it should be tested and tried. Esports crypto events and NFT games are not only enjoyable to bet on but playing and earning money by doing so is even more fun.