There are few industries that have grown throughout the COVID lockdowns as more and more individuals have been looking for ways to pass the time while confined to their homes. And gaming is one of them.
Non-fungible tokens (NFTs), that enable blockchain inventors to create one-of-a-kind digital assets, are rising in popularity. It’s a great feature for gaming because it allows players to acquire in-game assets with an NFT. The million-dollar question is, will betting sites like 12 Play Singapore be able to take advantage of all this?
The gambling industry
There are numerous applications for blockchain, so it’s not surprising that it’s making its way into gambling. Bitcoin Dice, a basic dice game, is becoming increasingly popular in crypto casinos.
However, even if the dice are virtual, they are still subject to an arbitrary roll of numbers, and the result can be any number. If the dice roll generates a value that is greater or lesser than the set number, the player bets on the outcome.
Gambling in its purest form, it’s a variation of the most basic form. With any sort of gambling, the more risk, the greater return. Then there’s the factor of cryptocurrency gambling, which brings the long-forgotten game back to life.
Crypto is a perfect fit for the Esports and gaming industries, and firms’ rapid adoption of the technology proves it. 12Play, in particular, is one of the many gambling sites that hopped aboard this hype train due to the unique benefits and the almost limitless potential it has in so many other areas, more than just because of its meteoric rise in popularity.
How Bitcoin is taking a huge role in the Esports industry
Even more people throughout the world are eager to invest in Crypto and open to awarding it as a prize pool for different occasions because of its rapidly rising popularity. For Esports, the same holds true. Organizations and investors in the cryptocurrency and Esports industries want to award champions with cryptocurrency as a form of prize money.
Esports organizations and players, as well as cryptocurrency exchange platforms, are trying to invest in Esports so that crypto may reach the masses and people can acquire an interest in it.
Since PayPal’s announcement that it would be entering the cryptocurrency industry, the market has seen a surge in investment. It’s hard to overstate the rise of cryptocurrency’s popularity than the recent record-breaking price of Bitcoin.
Esports and gaming appear to be one of the most popular investments at the moment, based on recent news trends and other recent events.
It can be revolutionary
Let’s be honest, here. A project you don’t believe in isn’t worthy of your time, effort, and resources. Many Esports hopefuls share this sentiment. Because of the openness of the blockchain, anyone can observe what’s going on in the network.
Playing casually in Esports doesn’t have to be a nerve-wracking experience. If you’re still having second thoughts, you can try 12 Play and see for yourself.
There is a chance that game developers will not get compensated for their time and work. They can prevent unlawful usage of their work by securing it with blockchain. Tournament organizers and game developers can benefit from smart contracts.
This will help to ensure that the game’s creators are paid before it is used by the event’s organizers. Because of smart contracts’ transparency, there are no worries about prize money being distributed unfairly.
The Esports business is working hard to combat fraudulent activities in terms of security. There are many instances of illegal gambling, match-fixing, etc., which are worthy of public attention. As a result, stakeholders are concerned about getting paid.
It can attract big crypto entrepreneurs
Entrepreneurs in the blockchain and Esports industries, it has been reported, are watching for the right moment and chance to merge their respective marketplaces.
There is even a new cryptocurrency that one particular Esports personality has established that allows followers of her social media channels to purchase access to her own exclusive private Discord chat rooms and shoutouts.
As a result of this, she will join an exclusive group of 30 gamers, producers, and influencers who have launched their own crypto on a platform backed by real corporations. This person has even helped Twitch establish a presence in South Korea as a gaming streaming platform.