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Have you heard about the games? These are the best selling games of all time. Until the early 2000s, the culture of gaming was not very popular. India is home to a lot of people who have taken up gaming as a profession. The market for e-sports in India is new and is related to the emergence of the game Player Unknown's Battlegrounds. Competitive playing began as a point of inception of multi-player games. The difference between gaming and e-sports is that players compete against each other rather than against the artificial intelligence in the game.
During the COVID era, e-sports has seen a huge rise in popularity. The audience was given a sense of community in difficult times by interacting with like-minded people. There was a huge increase in the audience base as well as an increase in the number of players.
The games popularized by e-sports tournaments will bring in over 14 billion in-app purchase revenue by the year 2025. The Indian e-sports industry revenue is expected to more than double in the next ten years. The industry is growing at a 46 per cent compounded annual growth rate and is drawing the attention of domestic and international investors.
There is an opportunity to build a platform for fans, gaming creators, and esports players to collect, play, and engage with their favourite teams, players, and content. When it comes to technology, the gaming community is usually the first to change. Web3 and the Metaverse allow people to think of gaming in a different way. Sportzchain-World's First Engage to earn platform, Gameyoo, Battleverse, Legion Network, DCD Ecosystem and Wizardia are just a few of the partnerships we have with. Tarusha Mittal is the co-founder and COO of Unifarm.
The gaming and e-sports sectors are seeing a lot of participation from thecryptocurrencies. The e-sports industry is starting to get involved with cryptocurrencies. The Indian market has been polarised by the topic of cryptocurrencies. The Union Government doesn't want to accept thecryptocurrencies. People in India are buying and trading Cryptocurrencies. There has been a halt in trading because of the steep decline in the market.
The prices of different Cryptocurrencies are on a steep decline The launch of 'Taper' was announced by the Fed. There is a belief among the experts that the price of Bitcoins would go down. According to experts, a decrease in the number of bond purchases is the reason for the term taper.
The e-sports sector is still going strong despite the decline in the prices of cryptocurrencies. More e-sports companies have started taking sponsorship payments in cryptocurrencies, driving creator-based NFTs, or investing time and resources in Web3-based games, as the adoption of cryptocurrencies has increased.
The possibilities of NFT in e-sports are vastly different than in traditional sports. A transparent and secure system for creators to monetize content is one of the things that cripto is supposed to do.
There is an inevitable partnership.
There's an affinity between gaming andcryptocurrencies. There has been a fair amount of controversy in gaming. The gaming sector was blamed for making children lazy and fat when it came on to the scene in the 80's. Since it was thought that the shooters were addicted to violent video games, the sector made them scapegoats. The gaming sector took 50 years to become profitable. The same path was taken by the sector in the year 2009, when the first coin was created. It was accused of being banned. The same trajectory as gaming may or may not be followed by the coin.
There are many ways for the cross-pollination of the two industries, be it the creation of Web3 games or the adoption of in-game digital currency. Both industries are majorly adopted by high risk individuals who are open to the idea of making the most of the two spaces. The idea is to make the payment process simpler, more secure, and unaffected by currency rates. Users will be able to make in-game purchases without being concerned about the above factors. Also, for game developers, it will be a unified payment system that they have to build in the game, which makes it much easier for them.
There has been an increase in the use of in-game purchases with the use of cryptocurrencies. Crowdsourced and small subscription fees fund most of the million dollar prizes. It will be easier with a large pool of games with interesting line-ups, or with the games themselves generating their own local token. It will be easier for international players to be paid easily without having to deal with the issues in the conversion of currency as a result of the adoption of cripto
Both the token and e-sports sectors have a lot of opportunities and they are not defined by any particular calendar or incident. They can complement each other's growth more quickly. Piyush Kumar said that when e-sports teams and sports team adopt their token, it will take off quickly.
There is a tech- savvy future.
Even though the sector is down, it still has huge potential if it succeeds. The sector combined with gaming would be a quicker and more efficient way to make payments.
A large number of enthusiasts on both sides of the coin have led to partnerships between the two companies. Thanks to their high level of competitiveness, e-sports and cryptocurrencies have a special connection. Kumar Gaurav, founder and CEO of Cashaa, said that companies like Uniswap aligned with leagues and major teams to take advantage of the chance to converge the markets.
There are gaming and e-sports in the metaverse. There are a lot of online games. There are many partnerships between the two. It's only a matter of time before the gaming and e-sports industry gets a boost from the use of the digital currency.