Tag: eSports

Are NFTs Headed to Gaming?

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Cryptocurrencies are perhaps one of the most notable developments of the past decade or so and they continue to spawn even more innovations. Now, one of the most talked-about aspects of the crypto landscape is non-fungible tokens otherwise known as NFTs.

What Are NFTs?

As it is with several aspects of the crypto industry, NFTs are still not understood by everyone which is totally understandable. They are simply collectible digital assets that hold value as a form of cryptocurrency and as a form of art or culture. The reason why they are such a big deal is that they are a way to create both scarcity and uniqueness to digital art. You can also think of it as a new vessel of distribution and ownership for an already rather experimental medium.

How This Relates to Online Casinos

Well, if history is anything to go by, the casino industry is likely to pick up on this new buzz much like did with other emerging technologies. Today, bettors can leverage some of the latest technologies on their gambling platforms of choice. These include things like digital currencies, live betting, and even other arguably niche technologies like Augmented Reality (AR) and Virtual Reality (VR).

Now, if we consider the massive popularity of NFT, it is almost guaranteed that a massive push for its adoption in the online gaming world will be a reality soon. The rise of such activities like eSports also serves to prove the potential of the new technology as a way to take online gambling and gaming to the next level.

In many ways, the NFT blockchain network, online gaming, and the online casino industry seem to be built in such a way that they complement each other. Some companies have already begun investing in that future and they are already projecting some pretty impressive returns from that.

Should You Jump In?

People are already trading NFTs which sort of gives it a start that is much like the launch of digital currencies in the early 2010s. However, the phenomenon is still marred in quite a bit of skepticism just in the same way that digital currencies were in the beginning. All things considered, jumping in at this very moment is mainly a question of how much faith you have in what is arguably the future of gambling, art, and entertainment.

There is still a long way to go and a lot to learn before everything falls to place as projected but there are lots of people who are more than happy to be a part of that journey. Are you one of them?

Cloudbet Adds USDT as It Ventures into Stablecoin Betting

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Renowned crypto-powered sports betting and casino site, Cloudbet has recently announced that it has added a USD Tether to its portfolio of digital currencies. This marks the company’s very first venture into the world of stablecoin betting. Needless to say, this a welcome development that is certainly set to turn heads in the betting and crypto communities.

The announcement of the new venture comes after a month of testing where Cloudbet sought the help of a select number of customers. This testing phase has since come to an end after the company was satisfied with the way everything was working. Now Cloudbet customers have the ability to deposit, withdraw, and place bets using the USDT coin, a popular digital currency whose value is tied to the US Dollar. USDT can be bought on the site using a number of popular payment methods including Apple Pay and several credit cards.

With the site now getting even more attention, Cloudbet has gone a step further by giving more players an incentive to join the fun. This comes in the form of a massive 1,000 USDT welcome bonus for new customers.

The fun does not stop there. Naturally, the company will have to work hard in order to keep improving the platform and. They even have more offerings in the pipeline.

“We’ve accelerated our feature rollouts tremendously, thanks to the systems and processes we put in place to build the new website. The market can look forward to many more new features and new coins in the coming months.”

A Cloudbet Spokesperson.

The spokesperson went on to point out the fact that the launch was part of the company’s wider strategy to empower their customers with the best technology.

Capitalizing on Esports

Earlier in May, Cloudbet launched an esports vertical that was designed to completely enhance the player experience in more ways than any other platform did. This move has since paid off quite decently owing to the fact that it delivered on the promise of a truly exceptional esports experience.

Thanks to the new esports betting vertical, bettors and esports enthusiasts have been able to fully immerse themselves in the action by placing bets on live-stream of esports using crypto. There are tons of betting options including odds for FIFA20, League of Legends, Call of Duty, Dota 2, Overwatch, NBA 2K, Rainbow Six Siege, and CS:GO among others.

The addition of USDT implies that an even larger number of people will now be able to use the platform. USDT may be a great option for those who are skeptical about crypto especially considering the volatility of some of the digital tokens.

Better Collective Buys HLTV.org Esports Site

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Renowned global esports betting media group Better Collective has recently acquired HLTV.org A/S for a whopping €34.5 million on a cash-free and debt-free basis. The Stockholm-based Better Collective has had plans to further diversify its publishing network and the recent acquisition is now one of the most notable moves in that regard. The multi-billion deal also happened to include the purchase of the CS:GO community platform that is known as Dust2.dk.

The Terms of the Acquisition

According to the press release that announced the acquisition, the core business model for both companies will be the promotion and advertising of esports betting operations. Jesper Søgaard, the chief executive of Better Collective, says that the decision to acquire the sports betting company was a well-thought-out one. The company had its sights set on the esports industry for a very long time before they arrived at the decision.

The essence of the time Better Collective took to analyze and monitor the esports industry was to ensure that they had all their card rights before diving. Esports is quite dynamic and differs in many ways from traditional sports which means that it was very important that they found the right partner. HLTV.org along with dust2.dk are these ideal partners – they already have a great reputation for operating the best-positioned esports brands across the globe.

“We expect strong synergistic effects as many of the betting operators we collaborate with today also offer bets on esports, so I look forward to a prosperous esports future for Better Collective together with our new colleagues,” the Better Collective CEO said.

HLTV.org executives also expressed their support for the move especially because the acquisition will support their bid to remain the leading CS:GO brand in the world. Better Collective has nearly 2 decades of experience in the sports betting industry and this makes it a great partner for HLTV.org whose growth has also been quite meteoric.

Esports Across the Planet

Needless to say, the esports industry is one of the fastest-growing sectors on the planet. It is estimated that by 2020, the sector will have a viewer base of over 300 million people. Moreover, the global esports market revenue should reach $1.79 billion by then. With more accessible features coming to players and the number of esports betting markets also growing rapidly, it is expected to create one of the most lucrative business ecosystems over the next decade.

That said, a number of partnerships are being inked in order to take advantage of the growing market. All these will go a long way in not only legitimizing the activity further but also fostering its entry and growth in newer markets.

Are Esports Operators Prepared to Handle Skill-Based Games?

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Last month, renowned esports gambling website Unikrn announced plans to bring legal skill-based betting to the United States which will allow players to wager on themselves. Players will be able to link their games to their Unikrn accounts and the platform will in turn generated odds for the player based on their profiles within the game. This is one of the biggest milestones since the launch of such skill-based competitive video games such as Player Unknown’s Battleground and Fortnite.

As much as the esports industry is picking up in several different areas, Ian Smith, the commissioner of the Esports Integrity Coalition (ESIC) is concerned that the industry is yet to be prepared for it. To be more specific, Mr. Smith is skeptical about operators like Unikrn having the ability to ensure the skill ratings of the punters match the abilities of those that are manning the game controls.

The Loopholes

One of the most notable loopholes of this model is the fact that some players may place Fortnite bets using their personal account then handle the controller over to a more talented gamer. Similarly, there is the possibility that some players may nuke the game profile and then hustle the system by placing a series of bets. To make it worse, the ESIC commissioner is still not certain about the existence of any tools that identify players and make sure that player is actually the holder of the game account on platforms such as Unikrn’s.

Unikrn, on the other hand, is very confident about the ability of its team to handle issues to do with fraud. According to Unikrn’s chief executive officer, Rahul Sood, the platform has been studying each and every player’s game so as to thoroughly understand the competitive ecosystem of all the games hosted on its platform. This might be the case especially considering how great the platform’s customer experience is – this is only possible by knowing the gaming style of each player. This information can also be very useful for the company if it is to maintain the integrity of the betting platform.

Is This Effective Enough?

It is still quite obvious that it will be very difficult to detect cheating in battle royale such as Fortnite and Player Unknown’s Battlegrounds than in other types of video games. This is primarily because these battle royale games usually feature multiple players all fighting to emerge as the last man standing.

Furthermore, data from these games are not very reliable because their results are not very predictable – most anti-fraud measures are based on the predictability of certain activities or actions. For instance, talented players can sometimes be easily knocked out of the games during the early stages and a less experienced player may, in some case, get lucky enough to win the game. Since battle royale games are not like the conventional esports betting formats better solutions are definitely needed.

US Legalizes Esports Betting, Approves Unikrn’s License

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Last Tuesday, Unikrn, a gaming operator known for its blockchain-infused esports betting projects, had its esports betting license approved by the Isle of Man, a move that has officially laid the groundwork for legal and regulated sports betting in the United States. Esports fans both within the United States and some other international markets will soon be able to bet on various esports events including tournaments and championship matches.

Unikrn, which is the world’s first betting platform to be built entirely on blockchain technology has had plans to merge real-money betting on competitive video gaming with crypto and blockchain technologies. The approval of its licenses by the Isle of Man is a huge step forward for the company and which has already moved fast to deploy its crypto esports gambling services in 20 different regions – the company began rolling out its online gaming products to the 20 countries as soon as the Isle of Man approved its license.

It plans to follow through by offering esports betting to European countries, South Korean and other Asian nations as well as parts of Latin America. In the US, the company will be offering several types of esports gambling services save for spectator betting which is yet to be legalized.

With the new products, the platform’s users in the countries where sports betting is legal will have the opportunity to bet on major esports competitions like the forthcoming League of Legends World Championship. Unlike traditional sportsbooks, Unikrn will be taking a unique approach that will be based on skill-based bets – this will allow the gamers to bet on their game performance for in games such as Player Unknown: Battlegrounds and Fortnite.

High Hopes Esports Betting Market

The approval of Unikrn esports betting license is certainly going to pave way for more companies to venture into the space – in fact, a number of esports betting platforms already exist but they have yet to be officially recognized by the Isle of Man. Still, the market is expected to significantly grow further from here on out. According to Rahul Sood, Unikrn’s CEO, the esports betting market could be worth $9 billion by 2020 if it’s nurtured properly.

“There is finally a legitimate, regulated operator in the space that has a pretty comprehensive offering,” Sood commented on his company’s approved esports betting license. “It’s huge.”

For the esports betting venture, Unikrn will also be featuring technology from Bittrex, a US-based asset trading platform. Bittrex’s technology will assist Unikrn in establishing a system for seamless crypto accessibility for the users of the gaming platform. The company’s in-house cryptocurrency, UnikoinGold (UKG) will be the primary token for esports spectator wagering in the 20 regions where Unikrn his set to begin operations.

LeoVegas Ventures into Esports Betting with Pixel.bet

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Mobile casino specialist LeoVegas, through its wholly-owned investment company LeoVentures Ltd., has recently made its debut into the esports betting market. This move was officiated last Thursday when the Stockholm-listed LeoVegas announced that its LeoVenture’s arm had purchased a 51 percent stake in the Malta-based esports betting platform Pixel.bet for a whopping €1.5m payable through issued shares. The acquisition deal is expected to close in in the current quarter of the year through a new share issue.

The gambling industry has been rather laid back when it comes to esports betting, only making tentative forays into the space but this is beginning to change thanks to the explosive growth of esports in terms of attendance, viewership, sponsorships, and media coverage. These developments have pushed more gambling operators or at least consider the possibility.

“Esports is an international and fast-growing area that engages millions of viewers and players every month. With this investment in Pixel.bet we as a Group will gain a unique insight into a new and fast-growing segment,” commented Gustaf Hagman, the LeoVegas’ Group CEO and co-founder of LeoVegas Mobile Gaming Group.

This is a huge step forward for esports betting and even though Pixel.bet will initially not have a significant effect on the LeoVegas Group’s revenue or financial standing, the acquisition is expected to pay off decently in the long run.

“In Pixel.bet we have found a passionate team of entrepreneurs who come from the esports community,” Robin Ramm-Ericson, Managing Director of LeoVentures and co-founder of LeoVegas Mobile Gaming Group, said. “With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group. Together we will drive development for the absolute premier experience in esports betting.”

The Pixel Holding Group has confirmed via its Pixel.bet entity that it is now ready to embark on a new phase of operations that will primarily be about “gearing up for a broader launch of its business”. Sweden and the Nordics are reportedly the initial focus markets for the company though it is still eying further international growth.

“We love esports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community. Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals. In LeoVentures we have now found a unique partner and investor that understands and shares our passion,” stated Eirik Kristiansen, CEO of Pixel.bet.

Nippon Partners with Nintendo for Splatoon 2 Esports Leagues

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Nowadays, news of domestic sports competitions venturing into Esports is becoming more and more common. A number of famous teams, leagues, and clubs from all around the world have finally decided to warm up to the idea of acquiring or starting competitive video game teams not only because it is an assured source of some extra revenue but also because it will hopefully broaden their reach.

Japan has not been left behind. The country’ pro baseball league, Nippon Professional Baseball (NPB), last week announced that they had made a move into the Esports industry by partnering with Nintendo to create a new Splatoon 2 Esports league. Each of the league’s 12 clubs will be participating in the Esports league which is set to go down in Spring 2019.

To take part in the Splatoon 2 league, players will need to register for the fourth annual Splatoon Koshien event that was scheduled to kick off in July 2018. During the event, a scout from each of the 12 clubs will be around to pick team members based on their own criteria. Players who are selected will be contacted by the team for a special interview scheduled for February 2019 after which all of the 12 teams will be shown off at a special presentation in March before the Splatoon officially kicks off.

At the moment, the league’s official start date has not been announced and, on the same note, no details regarding the ruleset or the prize pool have been released. However, it is worth noting that the language on the official Splatoon Esports Series website seems to suggest that the pool will not have a prize, even though the players are likely to receive compensation for their participation. This is expected especially when considering Nintendo’s operating procedure, that is, the company does not award monetary prizes for tournaments.

Nippon’s Partnership with Konami

The Splatoon 2 Esports league is not NPB’s first Esports venture. In 2017, the baseball league partnered with Konami to host championships for its official baseball title Jikkyō Powerful Pro Yakyū which is known internationally as Power Pros. This tournament was officially recognized by the league and, furthermore, featured promotional content that involved a number of NPB stars.

Last week, NPB announced that it plans to take its relationship with Konami a notch higher with the launch of Pawapuro Pro League, a baseball Esports League that will operate in the same way as the NBA 2K league – each of the NPB clubs will be represented by three players. This one, on the other hand, will have a prize pool of 12 million yen ($12,000).

Highlights of the IOC and GAISF’s Lausanne Esports Forum

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The Olympic Esports Forum that was held on Saturday in Lausanne, Switzerland kicked off with opening remarks from Patrick Baumann, the president of the Global Association of International Sports Federations (GAISF). In his welcome speech, he said the main objective of the forum was to “build a joint understanding between the Esports community and the Olympic movement,” that involves structure and values that would set “the platform for joint engagement.”

He also pointed out that many of the stakeholders were considering the most “mutually beneficial” steps that could be taken to forward the agenda of taking Esports to the next level.

The Esports Forum majorly focused on the areas of commonality and those that offered opportunities for collaboration. This included discussions about whether Esports could be eventually recognized as a sport as well as the form that would best suit its representation within the Olympic Movement.

As it stands, there are no official organizations representing the global Esports industry and this makes it rather difficult for Esports to align itself with the Olympic values, rules, and regulations. Therefore, the forum recognized that ensuring this would be a lengthy process and so the consideration of whether Esports could be added into the Olympic program was not an immediate goal.

More than 150 representatives from various Esports and gaming companies participated alongside a large number of players, teams, publishers, sponsors, media and sponsors as well as officials from the International Sports Federation, National Olympic Committees, the International Olympic Committee and Global Association of International Sports Federations. Also in attendance were a decent number of athletes and broadcasters. Former professional basketball player, Rick Fox acted as the forum’s host moderator.

Calls for Inclusion of More Women in Esports

Among the stakeholder that attended the forum was a panel that was specifically focused on gender equality in various sectors of the Esports industry. Panelist discussed the challenges that both traditional sports and Esports have in common with regards to gender inequality.

“Women make up about 25% of the Esports player base, so why aren’t they in the top?” asked PMS Clan founder and director at Twitch, Amber Dalton. “The fact is boys start much, much earlier. I believe if we can get girls early, playing as long as boys do, we’ll get women playing […] Women and girls simply aren’t getting that exposure. We need amateur leagues to build them up for pro events later.”

These efforts are clearly a nod to the numerous female Esports teams that exist at the moment. They include an all-female Counter-Strike: Global Offensive team known as Team Dignitas which was the first female team to win a championship for the Dignitas Organization.

“I think what’s great about esports is that we have an eco-system here where anybody can put together a tournament. There are tools and platforms available for female players to set up their own tournaments,” BITKRAFT Esports founding partner Jens Hilgers said.

The State of Crypto in the World of Soccer

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The World Cup season is gone but the tears, anticipation, and disappointment are still fresh in the minds of football enthusiasts from every part of the globe. It was an exciting time and everyone can attest to this fact regardless of how everything turned out. This time though, there were so many wins that came with the FIFA 2018 World Cup that went down in Russia.

Business was good in so many fronts but crypto turned out to be the main highlight. People were not only able to place bets using various cryptocurrencies but also pay for flights, hotels, food and even alcohol during the World Cup season. This was a huge milestone for the crypto ecosystem as it set the stage for even greater developments.

The World Cup aside, it is becoming clearer that the idea of cryptocurrency is beginning to become more acceptable in several different sectors. Even more interesting is the fact that more and more celebrities are backing cryptocurrencies – these include sports figures and athletes. Clearly, something is being done right and if things continue along the same path, then we should have another revolution in our hands pretty soon.

Didier Drogba Becomes a Crypto Ambassador

The iconic former Ivory Coast player is the latest entrant into the long list of celebrity athletes who have endorsed cryptocurrencies. Russian news outlet, RT reports that Drogba has recently signed up to the official ambassador for a new digital currency-based social networking platform known as all.me. In an interview with RT, Drogba expressed his strong faith in the project saying that he believed in it “a lot”. He even wore an all.me branded t-shirt during the interview to stress how firm his support for the project is.

Founded in 2015 by Artak Tovmasyan, an Armenian businessman, all.me reportedly raised $30 million when the website was launched and is planning to conduct an initial coin offering (ICO) in the fourth quarter of 2018. The platform is quite unique especially because it promises to share half of its advertising revenue with users based on factors that include activity, content, and popularity.

Ronaldinho Launches His Own Cryptocurrency

Brazilian football legend and 2005 Ballon d’Or award winner, Ronaldinho has also recently announced the launch of his own digital currency – Ronaldinho Soccer Coin (RSC) – which is also part of wider ambitions to venture into the global Esports industry, another emerging and rapidly growing market.

The Ronaldinho Soccer Coin project is aimed at developing, among other things, a football academy, and a betting platform and marketplace. In addition to this, the project will invest in hosting amateur and global league matches as well as in the development of virtual reality stadiums which will be used to compile blockchain database to assist in the analysis of player skill and subsequent creation of new teams.

These two are not the only athletes that have shown interest in crypto and as the year progresses we should see even more endorsements and partnerships.

International Olympic Committee to Host Esports Forum

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Esports continues to make tremendous strides towards mainstream adoption and this weekend, a forum that is scheduled to take place in Lausanne, Switzerland will outline the next step for the collaboration and possible integration of traditional sports and Esports. The forum will be attended by a number of popular Esports teams, games publishers, broadcasters and event organizers.

It will be hosted jointly by the International Olympic Committee (IOC) and the Global Association of International Sports Federations (GAISF) with the main focus being on gaining a better understanding of Esports and therefore its suitability for possible inclusion in the Olympics.

The International Olympic Committee first recognized Esports as a sports activity in 2017, something that was a clear indication that Esports was ready to take the next step – and what better way to do so than to link up with the Olympics. Already Esports boasts of over 250 million players from all around the world in a market that currently brings in more than a million dollars every year. GAISF too has taken notice of the incredible nature of Esports:

“We understand that sport never stands still and the phenomenal growth of eSports and gaming is part of its continuing evolution,” GAISF president Patrick Baumann said. “The eSports Forum provides an important and extremely valuable opportunity for us to gain a deeper understanding of eSports, their impact and likely future development so that we can jointly consider the ways in which we may collaborate to the mutual benefit of all of sport in the years ahead.”

The International e-Sports Federation (IeSF) revealed earlier this year that it was in talks with the organizers of the Paris 2024 Olympics about the incorporation of Esports as a demonstration sport at the Olympics. IeSF has since confirmed that the both the “the local Olympic organizing committee and the city are supporting this movement, so this will be a stronger message towards the IOC that eSports could be included as a demonstration title in 2024.”

The Forum Is Purely Exploratory

While the forum is certainly going to be a huge milestone in Esports’ journey, the IOC on Wednesday clarified that the forum will be “purely an exploratory meeting.” This is understandable particularly because not everyone agrees that Esports have the right qualities and therefore is not fit to be part of the Olympics. One such person is IOC President Thomas Bach who has expressed concerns that highlight the violent nature of some competitive video games.

Still, these concerns are what make the forum such a huge deal as it is then that the stakeholders from both sides can meet, interact and gain necessary understanding of the things that traditional sports and Esports have in common and the things that they do not.