Access your guide to exploring the impact of blockchain for Esports organisations
From difficulties engaging and forging relationships with an increasingly growing fan base, to limitations with fan traceability, and issues with generating actionable data for sponsors – the Esports industry is facing some tough challenges.
A quickly growing and truly international fanbase is piling pressure on teams to deliver effective and innovative fan engagement initiatives.
With surging audience growth expected over the next few years, it’s becoming increasingly difficult for current teams to sustain personalised fan relationships.
Fragmented platforms and channels are making it difficult to streamline data insights surrounding audience measurement and metrics.
With limited fan traceability comes limited data insight for sponsors – meaning they have limited visibility of their investment’s performance and ROI.
The key to an Esports team’s ability to solve challenges around fan engagement, or to unlock new ways of sustaining growth, lies in their ability to continue innovating with new technology. Although the Esports industry is innately digital-first, that doesn’t mean that teams haven’t faced challenges in one way or another when keeping up with the blistering pace of technological innovation such as blockchain.
Blockchain isn’t a technology for the future, it’s a technology for today. That’s why leading Esports teams and organisations are already leveraging it as a fundamental element of their digital strategy. Innovative applications of blockchain are enabling new approaches to fan-centricity for teams that is helping to improve fan loyalty, experiences and engagement.
NFTs are powering digital collectibles, experiences, rewards and more for Esports — opening up profitable revenue streams and helping to engage fanbases.
Benefits
Increasing fan engagement, strengthening fan relationships and boosting sponsor ROI.
Benefits
Facilitate fan influence, build exclusive communities and create additional revenue streams.
Benefits
Esports involves multiple stakeholders, from game developers to players, sponsors, advertisers, team managers, and media. Blockchain can provide a robust single platform (or ecosystem) to bring them all together. Its transparent nature allows all participants to see what’s happening on the network; from the distribution of prize money, to media rights and the transfer of players.
With its ability to eliminate intermediaries, blockchain is providing more autonomy for players. Smart contracts that execute when agreed conditions have been met mean a reduced need for managers, agents or other intermediaries. A reduction in intermediaries means more control for players, the ability to keep a greater share of their earnings and less opportunity for corruption.
Smart contracts, enabled by blockchain technology are helping to streamline payments right across the Esports industry. By setting a payment to automatically execute once a condition is met, the industry is able to reduce the need for intermediaries. Cutting out intermediaries means faster payments with reduced fees. Payments are visible and traceable on a secure, distributed ledger. Smart contracts can even be set to create automated payments for gaming tournaments, ensuring winners are awarded their shares quickly, fairly and with full transparency of transactions.
Let’s jump on a call so we can explore how your team can benefit from blockchain technology. We’ll share how we’re helping others, explore your challenges and discuss relevant solutions
