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

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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

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Bitcoin Wallet Insights: Exploring the Timeframe to Mine One Bitcoin

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Bitcoin mining is the computational process that secures the Bitcoin network and mints new Bitcoins as a reward. It involves dedicating significant computing resources to solving complex cryptographic puzzles. For any individual miner, a key question is: how long does it take on average to mine one Bitcoin?

While dependent on mining equipment and conditions, examining the variables that influence mining rates can provide perspective on achievable timeframes. Let’s explore the Bitcoin mining process and factors impacting the timeline for miners to acquire their first coin.

The Probabilistic Nature of Bitcoin Mining

Bitcoin mining is essentially a lottery where participants compete to solve a mathematical problem and create the next valid block. Successfully doing so earns the miner the right to include a new batch of transactions and mint fresh Bitcoin. However, finding a solution involves guessing trillions of random numbers per second with no guarantee of success.

On average the Bitcoin network produces a new block every 10 minutes. But for an individual miner, discovering a valid hash could take days or even months depending on the equipment. Similar to a lottery drawing, the more hashrate or “tickets” a miner has, the better the chances of hitting the jackpot. Solo miners face unpredictability, while mining pools smooth earnings over time.

Hardware Capabilities and Hashrate Output

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Bitcoin Wallet Insights: Exploring the Timeframe to Mine One Bitcoin 3

The most important factor determining the Bitcoin mining timescale is the amount of hashrate measured in hashes per second. Hashrate depends on the processing power and efficiency of mining machines like ASICs and GPUs. More powerful units with cutting-edge chips can calculate many more solutions per second.

Output also varies based on other specifications like energy draw, cooling systems, and firmware. Units purchased more recently typically boast better performance than earlier generations. Maximizing hashrate within a given budget accelerates mining output and Bitcoin earnings.

Evolving Network Difficulty

Bitcoin’s network difficulty dynamically adjusts every 2016 block to maintain an average 10-minute discovery time as the hash rate fluctuates. If mining power on the network rises, the difficulty increases proportionally to compensate. The higher the difficulty, the more guesses are required to find a valid hash.

Since Bitcoin’s inception, network difficulty has risen over 20 billion times as ASICs have become faster. This makes mining new Bitcoins much harder now than in earlier years. Even the latest equipment with high hash rates faces greater difficulty earning each coin over time.

Energy Costs and Location

The cost of electricity to power energy-intensive mining rigs can make or break profitability. Areas with lower energy prices allow miners to operate more machines at higher margins. Places with excess renewable energy tend to attract larger mining operations.

Some miners even leverage flared natural gas that would otherwise be wasted. The lower the energy expenditure, the faster miners reach the breakeven point on equipment costs. Optimizing energy infrastructure is key to maximizing mining velocity.

Bitcoin’s Diminishing Block Subsidy

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Bitcoin Wallet Insights: Exploring the Timeframe to Mine One Bitcoin 4

When originally launched, successfully mining one block awarded miners 50 Bitcoins. However, Bitcoin’s code reduces this block subsidy by half roughly every four years. In mid-2024 the next halving will drop the reward to just 3.125 Bitcoins per block solved.

As the block subsidy declines, mining each Bitcoin requires more time and resources. After the next few halvings pass, most mined coins will come from transaction fees rather than the subsidy. This gradually slows the minting of new Bitcoins over time by design.

Conclusion

While Bitcoin mining may seem straightforward at first glance, the actual timeline for acquiring coins is influenced by a complex interplay of factors. These include a miner’s hashrate capabilities, network difficulty, energy infrastructure, and the diminishing block subsidy. To succeed, miners must optimize across these variables.

As your Bitcoin wallet holding matures, the process of minting new coins naturally becomes more challenging. However, by leveraging economies of scale, access to low-cost power, and the latest hardware technology, miners persist in securing the network and facilitating the issuance of new Bitcoin.

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Sastanaqqam Company Sets New Milestone with Move to Dubai’s One Central, Joining Leading Crypto Innovators

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Sastanaqqam Company, a visionary in the blockchain and Web 3.0 domains, has announced its strategic relocaon to the renowned One Central district in Dubai by the end of March. This move places Sastanaqqam in the epicenter of leading names in the cryptocurrency industry, signifying its burgeoning influence in the global hub for digital asset innovaon.

One Central has become a pivotal hub for cryptocurrency enterprises, known for its state-of-the-art facilies and a business-friendly regulatory environment. This district houses notable crypto enes like Bybit’s global headquarters and the, a hub for cryptographic and blockchain technologies.

Sastanaqqam’s relocaon to One Central reflects its alignment with Dubai’s vision as a leader in technological advancement and financial innovaon. “Our move to One Central isn’t just a relocaon; it’s a strategic decision to integrate with a community at the forefront of blockchain and digital currencies,” said Azzi Mohamed Mbarek, COO of Sastanaqqam.

The decision to establish a base in One Central, alongside pioneering crypto plaorms such as Deribit, underscores Sastanaqqam’s ambion to be at the forefront of the crypto revoluon. Dubai’s One Central offers an environment ripe for collaboraon, innovaon, and growth, making it an ideal locaon for Sastanaqqam’s expansion.

In ancipaon of this significant move, Sastanaqqam is ramping up its recruitment efforts, aiming to atract top talent in blockchain and fintech. The new office in One Central will be equipped with the latest technology and designed to foster innovaon and collaboraon.

Local businesses and the community in One Central are excited about Sastanaqqam’s arrival. “Sastanaqqam’s addion to One Central is not just a boost to our local economy; it also reinforces our status as a leading tech and financial hub,” shared [Local Business Owner’s Name].

Sastanaqqam’s relocaon to One Central marks a significant chapter in Dubai’s emergence as a global leader in technology and digital assets. This move is poised to open new avenues for collaboraon and innovaon in the cryptocurrency sector.

About Sastanaqqam:

Established in 2021, Sastanaqqam is a visionary company specializing in blockchain and Web 3.0 technologies, with a focus on integrang art, gaming, and DeFi to create a comprehensive digital ecosystem.

For further informaon, visit: htps://sastanaqqam.io/

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Top Korean game developer Wemade to exhibit at Taipei Game Show for the first time

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  • Visitors are among the first Asian audiences outside of Korea to preview Night Crows Global and Fantastic4 Baseball
  • Night Crows Global combines breathtaking visuals, immersive gameplay and massive-scale battles with advanced tokenomics and omnichain support
  • Fantastic4 Baseball lets gamers manage and control teams of real-life players from different professional leagues including the Chinese Professional Baseball League

Leading South Korea-based global game developer WEMADE will be exhibiting for the first time at the Taipei Game Show 2024, to be held at the Nangang Exhibition Center from January 25th to 28th. Wemade will be showcasing the Web3 version of “Night Crows”, the blockbuster MMORPG developed by game studio MADNGINE and Round1 Studio’s baseball simulation game “Fantastic4 Baseball”. Visitors to the show will get the chance to be among the first gaming fans outside of Korea to preview and play both games for the first time, and also take part in a variety of other exciting activities.

One of South Korea’s most successful mobile game launches of 2023, Night Crows is built using Unreal Engine 5’s groundbreaking features for creating massive open worlds in incredible high-fidelity detail. The upcoming Web3 version is a feat of expansive world-building and story-telling that combines breathtaking visuals, immersive gameplay and massive-scale battles with advanced tokenomics, NFT minting and trading, and omnichain support. 

Fantastic4 Baseball is a mobile baseball sports simulation game that features high-quality graphics, intuitive and easy-to-use operation methods, and a realistic reproduction of the game of baseball. Gamers get the chance to manage and control teams of real-life players from different professional leagues including the Chinese Professional Baseball League (CPBL), Taiwan’s top-tier professional baseball league. Pre-registration for Night Crows Global is now open with both games scheduled to be launched by the end of Q1 2024.

Organized by the Taipei Computer Association, the Taipei Game Show has been held for over 20 years since 2003, and is Asia’s first annual international gaming exhibition. Recognized as a significant business platform by the industry, its diverse showcase content and comprehensive business matchmaking services attract over 2,500 business visitors from more than 40 countries/regions each year, making it the most noteworthy gaming exhibition in the Asia-Pacific region.

About WEMADE

Part of the first generation of Korean PC online game developers and Korean mobile game developers, Wemade is at the forefront of the next wave of Web3 game developers that are innovating with blockchain technology. Based on the WEMIX3.0 Mainnet, the WEMIX PLAY blockchain gaming platform is the world’s biggest with millions of users and a wide range of game genres from card, puzzle, simulation and strategy games; to first-person shooters, battle royale, MOBA, MMORPG, SNG, sports games and more. Visit www.wemix.com/communication / www.wemixplay.com for more information. 

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