As the esports boom continues, experts have been looking for new means to expand the industry. The latest trend for growth happens to be in blockchain networks. nTitle, a key player in the use of blockchain technology, will do just that. The Ethereum exchange network recently announced their partnership with the Netherlands-based esports organization Team Dutch Gaming.
According to nTitle CEO Peter van Grinsven, the company aims to “put the power back where it belongs.” A bold claim indeed. This would be done by focusing on the independent developers and gamers themselves. That’s where blockchain and cryptocurrency networks come in. Proprietors want to move from established platforms such as Steam. This would then allow companies and users to trade their wares in a decentralized market.
With regards to esports, which has expanded exponentially in the past years, decentralization can offer new avenues for growth. That’s why North American team Tempo Storm partnered with GamerToken. Likewise, BUFF, a cryptocurrency-based program, will sponsor Philippine team Digital Devils for the Mobile Legends competition for the 2018 Asian Games in Jakarta.
Beyond these instances, we also know that blockchain and cryptocurrency-powered platforms are being established to play a role in esports. One such platform, DreamTeam, aims to create a network for sponsorship, salary, prize pool, and transfer payouts. Meanwhile, Enjin, which used to be a network for guilds and clans, has created their own Enjin Coin cryptocurrency and network.
Yes, blockchain technology such as the Ethereum network helps fuel the growth of esports programs and teams. This is especially true at the grassroots level where local teams are in dire need of sponsorships and capital. After all, blockchain technology might be the best way they can compete with the bigger and more established international teams.
It’s also worth noting that, just like any new venture, there are dangers to consider. The video above from HBO’s Last Week Tonight reminds us of what an often unregulated and decentralized exchange network can do. Likewise, we’ll also remember the time when Valve sent a cease and desist to blockchain market OP Skins due to their trading operations. And let us not forget how, earlier this month, the League of Legends Garena client was hacked. Players discovered that it was mining the cryptocurrency Monero in the background. So yes, there are indeed some causes for concern, especially with the introduction of new technology and new means of exchanging data and money — virtual or otherwise.
Team Dutch Gaming will be competing in Fortnite, Hearthstone, and various other games. However, it might be worth noting that they’ve yet to update some of their lineups. They’ve also announced their partnership with a Japan-based streaming platform, Extractor, Inc.
It’s too early to tell whether Team Dutch Gaming and nTitle will find prolonged success. The continuous growth of esports and the use of blockchain technology clash with possible issues such as lack of regulation and instability. The most we at Daily Esports can do is wish them geluk.
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