When it comes to entertainment, video games are leading the industry by a long shot. It is by far the largest and most diversified in the entertainment sector. It amasses a whopping $145 billion in worth, and there is no sign of it stopping any time soon. Moreover, the integration of blockchain technology into games has opened up a new venue as well as new revenue streams for both gamers and developers in play-to-earn games. So, the evolution of video games over the years is still in progress, and we see the new generation of Web 3.0 games taking shape. However, this branch of gaming is still a toddler and faces a lot of challenges in establishing itself, as the traditional gaming industry did.
The Gamefi, or play-to-earn, system has a lot of room for improvement, which we already discussed in our previous article. But today, we will highlight the importance of the sports element in gaming and how it can reap benefits for blockchain games.
The Esports Element in Video Games
In the 1980s, kids yearned for a new gift: video games. They left aside bicycles, footballs, crickets, and baseball bats and made video games their top priority. Since then, video games have ruled the hearts and minds of children as well as adults, and they continue to do so. However, the expansion did not stop there; new opportunities and business ideas paved the way for a new type of healthy competition among gamers in game play. Some referred to it as sports, while others referred to it as esports. The esports phenomenon sparked a surge in game popularity around the world. Worldwide esports competitions and tournaments are held with jaw-dropping pool prizes. Gamers around the world participate in these tournaments and create healthy fan bases for their teams as well as the games they play.
Traditional gaming has become more popular in the entertainment industry thanks to esports and tournaments. Esports also helped the gaming industry grow, opened up new business opportunities, and kept gaming at the top of the entertainment industry.
What is Esports?
Esports, also known as electronic sports, is a form of competitive video gaming that involves organized tournaments and competitions. Players or teams compete against each other in various video game titles, often for prize money and other rewards. Esports has grown in popularity in recent years and has become a professional career for many players. It is often played at a professional level in front of live audiences and is also often streamed online for viewers to watch. There are many different esports leagues and tournaments that take place all around the world.
Why Esports is Important for Play-to-Earn games or Gamefi?
Play-to-earn games are also known as Gamefi. It is because of this system that gamers are able to exchange their in-game digital assets or cryptocurrency for real-world currency. The blockchain gaming niche is still evolving and improving to make it big. The leaders in the industry and game developers are trying hard to come up with AAA titles and sustainable in-game economic systems to shift consumer preference and initiate mass adoption. Besides all the other important things like market distribution, infrastructure that is user-friendly, a talent pool, and a better economic model, it is also very important to organize tournaments. Esports will help blockchain games gain exposure, popularity, and mass adoption. It may as well educate the masses about the new play-and-earn business model.
Let’s have a look at the benefits of Esports inclusion and tournament organization for blockchain games.
Monetary Rewards and Prize Pools for Winners
The first and foremost benefit lies in the prize pool of esports tournaments. Skillful gamers can make a living out of playing their favorite blockchain games and winning crypto rewards. There are numerous Web 3.0 games that have the potential to host esports tournaments, such as Spider Tanks, Champions Arena, and more.
The Urge to Compete and Make Some Name in Esports
Who doesn’t like healthy competition that pushes you to make your game more refined and top-notch? Also, if you win a tournament, you'll get a name for yourself, become popular, and have something to brag about. Esports tournaments will let gamers become experts in their games and get known all over the world. So, esports will make blockchain games more competitive and encourage people to play games as a career.
Play-to-Earn Games will See an Elevation
Esports tournaments will not only benefit blockchain gamers but also help the whole Web 3.0 gaming space grow. Esports tournaments are streamed and televised worldwide, with an audience of hundreds of thousands. So, whichever blockchain game features in the tournament will gain a lot of attention and exposure. As a result, sales will go up, more people will play, and the blockchain gaming industry as a whole will go up.
Esports will strengthen the already vibrant P2E gaming community
Finally, the sense of brotherhood and belonging will increase as blockchain gamers around the world gather in one place. Esports will make blockchain gamers feel more connected and friendly with each other, and it will also help the community grow.
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