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The e-sports and crypto industries are the big boys of the technological market. Both industries boast extensive reach, with millions of users on their portfolios. However, while crypto deals with money, e-sports has the audience to prove its relevance. 

These booming resources have influenced their growth in remarkable ways. For instance, many e-sports betting platforms now accept Bitcoin bet, which holds several advantages, like anonymity for the gamblers that subscribe to it. The e-sports industry also incorporates Bitcoin into games like Dota 2, where you can make your in-game purchases with digital currency.

Kate Richardson, an experienced gambler and tipster, says that merging two powerful industries like these gives way to newer and improved services. Many e-sports betting sites now incorporate digital currencies like Bitcoin and Ethereum into their payment systems, making life easier for gamblers. 

Kate has gambled online for years and knows the nitty-gritty of online betting. You can follow her profile for more tips, analysis, and how-tos of wagering on e-sports tournaments and other forms of sports wagering. This article will discuss the advantages accompanying the fusion of these two industries and why it’s essential.

3 ways e-sports interest in cryptocurrency is driving the growth of both sectors

The video gaming industry is a big traction portal for the cryptocurrency industry. Many gamers transact and purchase game accessories with crypto, and gamblers also lean towards Bitcoin betting sites to improve their gambling experience. Here are other ways these two giant industries have helped themselves:

1. E-sports players are getting paid in crypto

Competitive gaming athletes make a significant amount of money playing in tournaments. These vast sums might attract unwanted attention when it hits their account, and digital currencies save them from that. Crypto has borderless transaction policies that give you access to your money, regardless of the currency regulation your country might impose. 

Currencies like Bitcoin and Ethereum are perfect for players prioritizing fast transactions, transparency, anonymity, and privacy, as the financial industry gives them all these. Its independent nature also ensures that external entities don’t sniff around your money, offering the necessary protection you might not get from traditional banks. These benefits have made it easy for athletes to prefer being paid in bitcoin, strengthening the association between the two sectors.

2. NFTs are changing the narrative

The video gaming sector has been a rapidly growing market since its inception. However, the NFT industry has matched that momentum. Statista discovered that the NFT segment’s revenue is expected to reach $2,520 million in 2022, an incredible increase from its $16.8 million global revenue in 2020.

Non-Fungible Tokens (NFTs) are unique tokens processed with blockchain technology that cannot be copied, substituted, or replicated. NFTs are usually digital representations of real-life assets like artworks and photography that can be bought, sold, and traded. The deal with NFTs and e-Sports is that these tokens allow players to make money from selling their digital assets. 

For instance, athletes can make significant side money by trading their game characters as NFTs rather than selling them directly. This has made it easier for gamers to earn money, as their fans can choose to buy these characters at higher rates. It’s also an avenue for video game software developers to make money from selling parts of the game to their audience. It has created a platform to enhance e-Sports athletes’ relationships with fans.

Players can create personalized NFTs, and their audiences can buy them. Since it can also extend to developers, many people now own bits and bits of their favorite games and players’ characters. It’s given these developers a way to recreate real-world items into the virtual system legally.

3. It encourages sponsorships

It’s common knowledge that millions of enthusiasts and fans stream E-sports tournaments on platforms like Twitch and YouTube. However, crypto lets them do more than that. With digital currencies like Bitcoin and Dogecoin, these fans can donate money or choose to sponsor their favorite teams without the financial risks involved.

Crypto’s transparent and independent features ensure that the money donated during crowdfunding or sponsorship deals reaches the recipient with no shady shortcuts involved. It also takes the government out of it, as they have no power over your transactions in the blockchain world. This has boosted the competitive gaming industry’s revenue and bolstered people’s trust in cryptocurrency, making it a win-win situation for both parties.

Final notes

The deal is simple. Crypto offers transparent and independent transactions, and e-sports gives the industry the needed traction. Their benefits go beyond these; they also help foster players, gamblers, and the audience’s trust in both sectors, giving everyone a chance to secure online gaming transactions.

While these benefits can be attributed to the consistent introduction of technological innovations that set the trends, their relationship has also made gaming easy for players who subscribe to it.