eSports is one of the fastest growing industries in the world and Kronoverse, the blockchain developer behind CryptoFights, are looking to take advantage of this with Bitcoin SV.
CryptoFights have their sights firmly set on making a game for the Bitcoin SV blockchain, with the belief that the technology will elevate the eSports industry to even greater heights. With an estimated 500 million eSports fans around the world, and $1 billion in annual revenue, CryptoFights predict compounding growth of 9% up until 2023.
The Bitcoin SV technology allows traceability which means the eSports gambling world gets all the data it needs to guarantee fair play and offer quality wagers on events.
“As more people understand the benefits of blockchain technology in gaming, they’ll learn that blockchain technology can provide real solutions to competitive gaming. One of these solutions includes reducing cheating in eSports since every action taken is recorded on the blockchain ledger,” said the CryptoFights team in a recent statement.
Backed by Calvin Ayre, Kronoverse are building a platform on which blockchain eSports promises to succeed. After recently finalising their second beta test, Kronoverse have stated that the final product will allow eSports competitors to bet on matches, which will provide an additional revenue source for both the players and the eSports platform.
The Kronoverse platform, with CryptoFights on it, is set to be available in the later stages of 2020. The online gambling world will be keen to watch, as it could open up an entirely new platform on which eSports could become gambling’s newest sensation.