Video games have quickly become a massive market for mainstream entertainment, with competitive gaming – more frequently referred to as eSports – garnering widespread attention and driving growth across the industry.
In 2018, video games generated $131 billion, with eSports a quickly growing vertical within that market as revenues topped $1 billion for the first time. But it’s more than just current revenues and bottom line figures that are getting investors excited, the potential for the sector is staggering.
Live streaming platform Twitch, which is favoured by eSports broadcasters, reached unicorn status when it was sold to Amazon for $970 million in 2014 – well before eSports truly began to boom. Twitch averages more than 2.5 million concurrent viewers at any time, while generating more than 1.7 billion hours of watched content every month.
eSports continues to see exceptional growth around the world, and more businesses like Twitch are expected to emerge to capitalise on its ever-increasing revenue. Use cases for eSports are also emerging in the blockchain space, with many solutions targeted at addressing issues in the space related to fairness and digital ownership, and others offering new ways to generate revenue.
For blockchain-based platforms to be effective in this space, their networks must not only be fast and able to handle significant volumes of large transactions, but also conduct this on a cost-basis that makes financial sense for players and providers alike. The BSV blockchain is the only platform that has this scalability and the required stability to enable blockchain-based eSports services.
