Connect with us

Blockchain

Why is the eSports Betting Industry Exploding? And How Not to Miss out

Published

on

It is impossible to deny the fact that the eSports betting industry is exploding. 

At the end of the last decade, eSports expanded into the mainstream. Once just a niche market, It is now a popular entertainment activity, and in some cases a full time profession around the world.. People are still buying tickets; however the sales are moving from the stadium and arena and to the internet. At one time, eSports could be described as a small piece of sporting culture, but now it has evolved into a complete industry of its own. 

While different analysts have given different figures, they all are recognizing the recent explosive growth. And furthermore, they predict massive growth for most of the current decade. First, we break the numbers down and then let’s cover some of the reasons why this may be.

As of 2020, the global eSports Betting market was valued at 12.67 billion in 2020. The analysts in this same report project a growth of 13.1% per year between now and 2027, resulting in a market sized at $20.73 billion by then. 

Why is eSports Betting Exploding So Fast?

There are a number of reasons this may be, and these relate to trends in society, economics and technology.

  1. The Social Media Age

In a way, eSports is the social media version of sports. So if betting on sports has been popular for ages, why not move into the 21st century? In fact, taking a closer look, eSports has been popular and active for decades; a social media age has helped to unite its participants together.  

Per one account, eSports started with the first official video game competition at Stanford University in 1972. In 1980, Atari held the first video game championship, a Space Invaders tournament. In 1990 and 1994, Nintendo held world championships in California to promote its gaming consoles, the original Nintendo Entertainment System (NES) and Super Nintendo. By the late 1990s, some of the first eSports tournaments had been created. 

Massive advancements in technology have transformed our world, bringing us together virtually one step at a time. Gaming and its competitive version, eSports, has naturally grown its user base alongside that. 

The world wide web reached broad popularity and use around the world by 1995. Google started in 1998, Facebook in 2004 and Twitter in 2006. Apple released the first iPhone in 2007, and gaming legend Twitch popped into view in 2011. All of these simply created more roads for eSports to travel on. The organic fanbase was there all along, and is in the process of being brought to the figurative arena. We appear to still be in the beginning phases of this. 

The youngest generation was born in a world where there were always smartphones and social media. Social gaming and eSports seems so natural. 

  1. Remote Work / Remote Play

Even before COVID-19, the world has been trending more and more towards remote work for years. COVID-19 accelerated this trend years into the future. One study estimates that 22% of Americans will permanently be working from home by 2025.

Along with remote work comes remote play. It is no secret that streaming entertainment services and gaming exploded like never before in 2020. From Netflix to Disney and a dozen other companies, streaming television and movies took over their fields. Gaming and eSports continued to explode. And why not – thanks to technology this can all be done from the comfort and safety of your own home.

  1. The New Decentralized Social Economy

The worldwide economy is emerging with a new decentralized face. 

Investing, trading and participating in markets was once reserved for only the wealthy and the upper middle class. Applications like Robinhood, and cryptocurrencies have given access and experience to financial markets; this is broadly reaching the lower middle and working class for the first time in history. 

Bitcoin, Ethereum, Dogecoin and other cryptocurrencies grew 5X, 10X or even 100X or more since government stimulus checks were distributed in early 2020. This has attracted millions of new investors, traders and participants in the cryptocurrency ecosystem. Another popular element of cryptocurrency is decentralization. 

This social trend of decentralization gives millions hope and the idea that they can make it based on their own skill, no matter their existing situation. This naturally popularizes eSports which has grown with the same trend. 

Capitalizing on Innovation

One player in the eSports world is capitalizing on these trends, as well as the technology of cryptocurrency to create a fun and rewarding gaming experience. OkLetsPlay, is an online eSports platform originally launched in 2017. Thousands of players have competed in private matches or multiplayer tournaments since its launch.

And now the platform is launching their own cryptocurrency. The OkLetsPlay (OKLP) token is a utility token with immediate utility on the gaming platform. It gives gamers on its platform immediate benefits. Those gamers can use the OKLP token to receive rewards such as in-app discounts, lower service fees and other benefits.   

The OKLP token is minted on the Polygon blockchain. This means it has the benefits and utility of Ethereum, with the increased efficiency and security of Polygon. 

Social Media

For more information, view our whitepaper and social media channels:

Website | Telegram |Twitter | Instagram | Facebook | Reddit | Discord | Whitepaper

The Bitcoin Daily is one of the most reliable and leading portal about Technology News, Latest Updates, Financial News, Business and any all subjects related to technology and blockchain.

Continue Reading

Blockchain

Fintopio Launches First CeDeFi Wallet Enabling Crypto Transfers via Telegram Usernames

Published

on

Fintopio, the leading Web3 wallet co-founded by former Binance executive Steve Milton, has officially launched its CeFi services, making it the only CeDeFi wallet in the market accessible on Telegram, iOS, Android, and Web. With its new CeFi offerings, Fintopio merges centralized and decentralized finance, providing a seamless platform that caters to a diverse global audience eager to access digital assets as simply as sending a message.

With Fintopio’s CeFi wallet, users experience simplified, frictionless transactions with key features like username-based transfers, Zero-Fee transfers, and innovative tools such as Vouchers for bulk crypto transfers and gifting. This milestone enhances Fintopio’s existing Web3 ecosystem, which has grown rapidly since its beta launch in April 2024, attracting over 2 million monthly active users.

Simplifying Crypto with Telegram-Based Transfers

Fintopio’s strategic integration with Telegram leverages the platform’s 950 million-strong user base, positioning Fintopio as the go-to wallet for crypto users seeking accessibility and convenience. By enabling crypto transactions through Telegram usernames, Fintopio eliminates complex wallet addresses, empowering users to conduct transactions with a familiar interface.

“We wanted to create a wallet that makes crypto as accessible as texting,” explained Steve Milton, Co-founder & CEO of Fintopio. “With our CeFi services, we’re moving closer to this goal, giving users a way to manage and transfer digital assets without the usual hurdles of traditional wallets.”

Fintopio’s intuitive design has been instrumental in driving adoption within emerging markets, especially in Africa and Asia, where the need for accessible financial tools has spurred millions to explore digital finance. By offering seamless transactions and secure asset management in a single, user-friendly platform, Fintopio makes Web3 accessible to users across various levels of crypto expertise.

Blending CeFi and DeFi in One Wallet

The launch of Fintopio’s CeFi wallet aligns with its mission to bridge centralized and decentralized finance in a single, cohesive ecosystem, making it a standout choice for users looking to engage with both worlds. Already popular on Telegram for its non-custodial DeFi wallet, which grants users full control over their private keys, Fintopio now offers the added option of a custodial wallet through its CeFi services, catering to users who prioritize the enhanced security and platform custody.

Additionally, Fintopio’s CeDeFi model introduces Zero-Fee transfers within its CeFi wallet, allowing Telegram users to transfer funds using just usernames, lowering barriers to entry and making daily transactions cost-effective and seamless. Available as a Telegram mini app, and natively on iOS and Android, Fintopio is uniquely positioned as the only CeDeFi wallet live across multiple platforms, reinforcing its commitment to making crypto accessible for everyone.

Vouchers: The Ultimate Tool for Bulk Crypto Transfers

The CeFi wallet also introduces a new feature called Vouchers, which serve as customizable tokens for transferring crypto on a large scale. Vouchers allow users to create tokens representing funds from verified accounts that can be securely shared with others. Designed for mass distributions, giveaways, and gifting, Fintopio’s Vouchers include robust security features such as password protection and anonymous transfer options.

Fintopio is currently available as a Telegram mini app and has recently launched its iOS and Android apps, which will soon reach a broader audience beyond the Telegram community. This multi-platform availability reinforces Fintopio’s commitment to making crypto accessible for everyone, positioning it as the only CeDeFi wallet live on the market ro do so.

Engaging Users with Web3 Ecosystem and HOLD Game

Beyond the basic wallet functions, Fintopio has developed an extensive Web3 ecosystem aimed at engaging users. Through the addition of  HOLD, a tap-to-earn game built within the wallet, Fintopio has created a rewards economy for a gamified crypto experience. This unique feature allows users to earn future HOLD tokens, which will serve as part of Fintopio’s expanding payment utilities on both CeFi and DeFi functions. 

Expanding to CeFi and Future Offerings

Fintopio’s CeFi wallet marks an important step in its roadmap as the company continues to innovate. Future plans include enhanced functionality for the HOLD game, P2P trading, and on-ramp/off-ramp solutions, allowing users to bridge the gap between traditional and digital finance seamlessly. By continuously expanding its offerings, Fintopio is set to become one of the most versatile Web3 wallets of 2024, catering to the needs of a diverse, growing crypto community.

About Fintopio

Fintopio is a Web3 wallet ushering in the New Payment Era on Telegram and Beyond. Founded by a team of blockchain industry veterans, it stands as the first CeDeFi wallet in the market available on iOS, Android, Telegram Mini App, and Web.

For more information on Fintopio, visit the official website and follow the official Fintopio community today.

Continue Reading

Blockchain

Matthias Mende Honored as Binance’s ‘Creator of the Year’ at Binance Blockchain Week Dubai

Published

on

Founder of Bonuz Market and Co-founder of Dubai Blockchain Center Recognized for Outstanding Contributions to the Binance Community

Matthias Mende, the founder of Bonuz Market and co-founder of the Dubai Blockchain Center, has been awarded the prestigious ‘Creator of the Year’ award by Binance, the world’s leading cryptocurrency exchange. The accolade was presented by Binance Co-founder He Yi and Chief Marketing Officer Rachel Conlan during the Binance Blockchain Week held in Dubai on October 30th and 31st. Binance is the world’s leading exchange, with over 238 Million Users.

The award, voted by the global community of Binance users on Binance Square, acknowledges Mende’s exceptional contributions to the blockchain community and crypto industry. His innovative work with Bonuz Market, a pioneering ecosystem that launched the social smart wallet on October 15th, has solidified not just his reputation as a key opinion leader but also as a builder.

“Receiving this award from Binance is a profound honor,” said Matthias Mende. “Happy that it validates my hard work and dedication invested to the Blockchain Ecosystem. Sharing information and educating is one of my missions, and building my consumer app also reinforces to drive more newcomers into our innovative crypto space. This recognition strengthens my obsession to continue building platforms that empower humans and enhance their daily experiences, as well as redefining community and brand engagement.”

He Yi, Binance Co-founder, remarked, “All winning Key Opinion Leaders demonstrated great value with the knowledgeable content shared on Binance Square. Their contributions have advanced the community, and we’re thrilled to recognize the winning Binance Square Creator’s achievements.”

The award ceremony was one of the highlights of Binance Blockchain Week, an event held in the Coca-Cola Arena in Dubai that convened industry leaders, leading innovators, and enthusiasts from around the world to discuss the future of blockchain technology. The biggest highlight was Chengpeng Zhao’s first public appearance since his release last month. The former CEO served a four-month sentence following his guilty plea and has returned to the United Arab Emirates.

About Matthias Mende

Matthias Mende is a seasoned entrepreneur and blockchain evangelist with a passion for fostering innovation and building technology that adds value to daily human life. As the founder of Bonuz Market, the co-founder of IDsign, and co-founder of the Dubai Blockchain Center, he has been instrumental in advancing blockchain adoption and education in the Middle East and globally.

About Bonuz Social Smart Wallet

Bonuz’s social smart wallet has quickly gained traction, offering users a seamless and secure way to interact with digital assets. The platform’s successful launch marks a significant milestone in the company’s journey to revolutionize the way people engage with blockchain technology. The smart wallet’s secure and simple Social Login with sponsored Gas Fee’s for Bonuz use-cases give users the feeling of using any familiar web2 product. Bonuz strives to be the first ecosystem to bring 1 Billion users onchain. Currently, Bonuz’s “Onchain Social ID” protocol can aggregate up to 11 Billion active social media accounts. The Bonuz Mobile App is free and can be downloaded for IOS and Android.

For more information about Bonuz, please visit www.bonuz.xyz.

Follow Mende on Social Media:

X – https://x.com/MendeMatthias

BINANCE – https://www.binance.com/en/square/profile/Mende

INSTA – https://instagram.com/mende

Continue Reading

Blockchain

GameChain’s Multi-Chain Ecosystem Poised to Revolutionize Gaming and Propel GAME Token Growth

Published

on

GameChain is at the forefront of transforming the gaming industry by creating a robust ecosystem that brings together developers and players in an unprecedented way. By fostering an environment where both parties can thrive, GameChain is opening up a world of possibilities that extends beyond traditional gaming platforms. Central to this innovation is its broad multi-chain compatibility, which is set to redefine the boundaries of blockchain gaming.

One of GameChain’s standout features is its support for multiple leading blockchain networks, including Ethereum, Arbitrum, Optimism, Polygon, and Avalanche. This extensive compatibility ensures that developers have the flexibility to build and deploy games across various platforms, tapping into different user bases and leveraging the unique advantages of each network. For players, this means access to a wider array of games and assets, all within a seamless and interconnected ecosystem.

The broad multi-chain support not only enhances accessibility but also significantly improves scalability and transaction efficiency. By utilizing networks like Arbitrum and Optimism for their layer-2 solutions, GameChain can offer faster transaction times and lower fees. This technical prowess ensures a smoother gaming experience and encourages more users to participate in the ecosystem.

Based on these groundbreaking developments, industry analysts anticipate that the GAME Token is set to experience substantial growth. The token’s utility across multiple chains and its integral role in transactions, staking, and governance within the GameChain platform position it for increased demand. As more developers and players join the ecosystem, the value of the GAME Token could rise, reflecting its central role in this expanding network.

With its commitment to innovation and community empowerment, GameChain is not just creating an ecosystem—it’s pioneering the future of blockchain gaming. The platform’s multi-chain compatibility and the potential surge in GAME Token value underscore its capacity to reshape the gaming landscape. For developers and players looking to be part of a transformative movement, GameChain offers the tools, community, and opportunities to thrive in the evolving world of Web3 gaming.

For more information, visit the GameChain presale site or join the community on Telegram and X.

Continue Reading

Trending