Cryptocurrency and clever contracts are redefining the future of online betting. Esports, meanwhile, characterize a growing market for gambling.
Cryptocurrency pockets Exodus has officially built-in with SportX, an online sports activities and crypto making a bet platform, giving users the capacity to wager on esports games through clever contracts performed on the Polygon network.
The partnership, which was announced Tuesday, offers Exodus’ greater than 1 million users get entry to SportX’s decentralized platform and also has a chance to bet for a place. They can region bets on a vast range of sports and esports games using cryptocurrency. The minimal wager amount is $5, denominated in USD Coin (USDC), which can be sent immediately to the Exodus wallet or exchanged from any of the 138 cryptocurrencies it supports. All markets created, traded and settled on SportX are facilitated by using the Polygon network.
Currently, SportX is approved for use in Canada, South America, most European countries except for France and the Netherlands and during most of Asia.
Esports, which refers to multiplayer video games played competitively in front of spectators, has grown to become a billion-dollar industry, with mainstream developers such as Halo entering the market.
What a statement from Halo. Their re-entry into esports has been nothing short of incredible. Balanced maps, ranked play and a multi-million dollar tournament circuit out of the gate two weeks after release. Bravo @Halo.
And congratulations @OpTic on the first 🏆
— 100T Nadeshot (@Nadeshot) November 22, 2021
Although the relationship between cryptocurrency and esports is nonetheless nascent, enterprise observers have identified a “special connection” between the two domains. Both communities share comparable demographics and employ applied sciences that transcend geographic locations. The financialization of gaming, additionally recognised as GameFi, is additionally predicted to present new possibilities for the esports industry. (However, GameFi is no longer constrained to the financialization of esports, however digital gaming greater generally.)
Crypto exchanges, meanwhile, proceed to amplify their footprint in the esports market, with the Sam Bankman-Fried-led FTX main the way. In August, the derivatives change inked a seven-year deal with Dolphin Entertainment to create non fungible tokens that target brands in several sectors, such as esports. In June, FTX sealed a $210 million naming rights deal with esports massive TSM.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.