This new sport is attracting droves of participants while it’s also on pace to generate more than a billion dollars in revenue within the next two years. It’s being featured on major sports networks, and, when you tune into the 2020 Olympics, you may be watching it along with the cadre of established sports that typically comprise the games.
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It’s being cheered by arenas full of fans, but it doesn’t require a field or a court to play. Competitors don’t even have to be present with one another. The competition involves skill, strategy, luck, and ambition. It’s so many of our favorite things all wrapped up in a singular experience.
Of course, this all describes the emerging and rapidly expanding phenomenon of eSports. There are almost 400 million active participants logging on to compete with one another, to wager on contests, and to enjoy the community that accompanies esports. This is a radical new sports domain that’s presenting unique opportunities for companies developing platforms to meet the insatiable demand.
Skrilla, a blockchain-based application, is combining the knowledge and experience of two established gaming platforms, Gamurs and Puntaa, to create a new platform for competitive eSports. Skrilla is setting the tone for the industry’s growth by securing p2p transactions and fostering an immersive eSports community where users can enter contests and collect winnings. It’s a daily fantasy platform that utilizes a unique crypto-token to bring the best experience to its users.
Skrilla operates on the blockchain, a technology that has established significant notoriety as the decentralized ledger system for cryptocurrencies like Bitcoin and Ethereum. Blockchain technology has many benefits including its decentralized networking, improved security, and more extensive capabilities. Moreover, the blockchain is capable of significantly more than just processing Bitcoin transactions. Using the blockchain platform, companies are developing unique crypto-tokens that allow interested investors to directly participate in the company’s growth and that provide a unique crypto service to its users. Skrilla is embracing this model to launch their Initial Coin Offering (ICO) this week. The Skrilla token launches on November 6th, and with it comes a regulated eSports betting platform that is safe and easy to use.
For eSports to truly match the hype, it needs to be safe and secure for users. Because everything is happening in a digital environment, this means that the technology must ensure that resources are guarded and that wagers pay off. The Skrilla crypto token utilizes smart contracts, a digital escrow-like scenario that’s a part of the blockchain, that ensures that money is paid as pre-agreed stipulations are met. Practically, this means that winnings will automatically be paid when a bet is concluded. As a result, users won’t have any conflict with other participants and they can be confident that their wagers will pay off.
Wagering on sports contests is fun and enjoyable until it becomes illegal. Daily fantasy sites Draft Kings and Fan Duel are reminders that questions of legality and oversight can disrupt a marketplace and can compromise the user experience. Marred by controversy and scandal, Draft Kings and Fan Duel have seen their peeking participation dwindle. Skrilla has learned from their mistakes to create a platform that is fully licensed and entirely regulated. This is a unique designation in the eSports community, and it means that users can stay focused on the competition without worrying about the platform’s efficacy.
It’s difficult to find industry analysts who are bearish on the esports industry. It’s a perfect combination of our advanced technologies, our competitive spirit and our desire to translate our passions into profits. Truly, the only thing that’s still to be determined is which platforms will become central to this emerging market. With its upcoming ICO, Skrilla is positioning itself to be that formative platform. By avoiding any temptations to cut corners to rush a product to market, Skrilla has crafted a platform that effectively combines safety and regulation in an easy-to-use interface that will have some really interesting wagers for the 2020 Olympics.
What do you think about the possibility of eSports being added to the 2020 Olympics? If added, would you watch it? Let us know in the comments below.
Images courtesy of AFP/Scanpix, Skrilla, Shutterstock