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Blockchain technology remains behind the big esports leagues: can it catch up?

Technology a few years ago blockchain was created in order to develop virtual elements impossible to copy or reproduce by any means. This type of technology seeks to use mathematical data with structures that are impossible to copy, and that can be corroborated by all parties.

Thanks to this technology it was possible to create virtual elements such as cryptocurrencies or the NFTs, which are assets with a value based on their demand and that function entirely in a virtual world. This has made said technology represent great advances in terms of monetary security, and possibly the currency of the future.

However, despite the fact that its adoption is slow and it still needs a lot of development, it is clear that its usefulness stands out in multiple fields that go from investments to video game tournaments. This last option has grown in popularity in recent years, and is currently looking to enter more and more into the big esports leagues.

However, technology seems to remain on the sidelines and not directly affect the competitive environment. Therefore, in this article, we will examine the viable options for its use within these leagues.

A technology used by online casinos to reward their players

It is clear that the first option to enter an esports environment is to evaluate your prize. However, this practice is not something new, since online casino establishments have been using these incentives for years.

Several casinos accept cryptocurrencies as a payment method and even the so-called cryptocasinos only handle this type of currency. It is common for users to request that their prizes be delivered in the form of cryptos, this is an excellent example of the use of blockchain technology for awards.

If you want to see an example of how it works, just visit online casinos Colombia, because there you will see that their deposits are much more comfortable, their games adapt very well to the value of cryptocurrencies and payments are almost instantaneous once verified.

This means that cryptocurrency rewards are also possible in the world of esports.

But are crypto awards viable in e-sports?

While it's not at all common to see this style of awarding within the big leagues, several smaller-scale tournaments have begun using this practice. Users can easily see the prize pools and compete for such a famous prize, without it ending up being reduced by taxes or the like.

In other cases, it is not directly related to currency assets, NFTs also come into play as an award option, since they are unique assets that appreciate over time. They could even be taken as the version of the famous award rings of the NFL or NBA, but in a virtual environment.

Even so, it is necessary to create a culture of rewards around such technology, so that players can feel well compensated for their effort in obtaining them.

Competitive environment using blockchain technology as part of the game

Although there is still a long way to go before e-sports leagues can be created around blockchain, the idea already has samples of how it could work. NFTs stand out as an option to create custom characters that are impossible to copy by other competitors.

A clear example is the game Axie Infinity, in which the players used the NFTs to be able to fight each other and place themselves in a world ranking. Meanwhile, several users of this game also created small tournaments in which they faced each other using their characters with skill sets designed by themselves.

Both the awards, the characters and the combat style were completely designed with blockchain technology. Although the game never achieved enough popularity to create important leagues and be categorized as e-sports, it did leave an imprint of how a game of this type could be worked in the future.

What other options are there for blockchain technology to enter the world of e-sports?

Although the two options named above are quite viable, today the closest to reality is a third: support for e-sports organizations. Several of these organizations have begun to create collectibles as NFTs, in order to create memories of their greatest achievements, and several users can buy them for a small price.

Since these are assets that are only available for a certain amount of time, it is common for them to appreciate over time. This makes them very similar to competitive card games or Trading Card Games in which there are letters over $500 in price.

Finally, adoption is a slow process that will run on its own. So maybe sooner than we think we will see a good collaboration between both worlds.

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