In 2020, blockchain gaming took the world by storm, revolutionising the gaming world. When most of the world was on lockdown and forced to work remotely, Axie Infinity exploded into the gaming scene, creating an unprecedented opportunity for players to monetize their gameplay.
Blockchain gaming has evolved the way players engage with publisher content via in-game economic ecosystems. Instead of playing blockchain games purely for entertainment value, blockchain gamers now have the opportunity to generate supplemental income through their gameplay.
As we already know, blockchain gaming is revolutionising the gaming industry, but esports has paved a way for groundbreaking technology to take place.
The Emergence of Esports
Esports has its origins back in 1972 when a Space Invaders Championship had a sizeable 10,000 participants. Fast forward to 1998, and the legendary Starcraft 2 tournament on PC had a mind-blowing 50 million online viewers, 17 million of those coming from Twitch.
By the time the 2000s emerged, esports was gaining some serious momentum. Tournaments such as the World Cyber Games and the Electronic Sports World Cup had come to fruition, followed by the launch of Major League Gaming (MLG) in 2002, now considered one of the world’s most prominent hosts in esports today.
By 2019, the esports market had already surpassed $1 billion, with nearly half of its revenue coming from sponsors like Mountain Dew, T-Mobile, Audi, and other big-name brands.
The sector has seen remarkable growth due to the target audience of esports being able to access live streaming software readily. In fact, gamers from the age of 18-25 spend 77% more time watching other people playing online than watching broadcast sports.
The Blockchain Boom
The blockchain and GameFi sectors have accelerated rapidly over the last few months. By levelling the playing field between players and publishers through financial rewards, blockchain gaming empowers players in extraordinary ways. Although still an emerging field, the sector doesn’t show any signs of slowing down. In 2022, the funding market has shown to be quite effective, with capital flowing into the GameFi industry at an unprecedented rate.
An analysis from Crypto Slate found that the overall Q1 funding amount of the GameFi rose 194.19% year on year, with start-up game projects being a top priority for capital and the industry rapidly accelerating.
The blockchain and GameFi sectors don’t seem like they’re in a bubble, either, with data from Q1 indicating that the sector has been competitive compared to the greater crypto industry. The market cap of gaming projects has been stable, token liquidity increased, and VCs have continued to show interest in new projects. The widespread adoption of GameFi seems to be on its way to becoming a reality.
As more entertaining blockchain games are released, the population within the space will only continue to grow, creating even more opportunities for gamers, creators, and esports players to pursue their passions.
The Future: Gaming Guilds
As the blockchain gaming community matures, the emergence of gaming guilds is crucial in order to collaborate to determine best practices and fuel growth. This global collaboration will encourage an empowered community and create a unique market dynamic that values the growth of new gaming guilds.
Establishing a gaming guild that merges the unique ownership capabilities found in blockchain gaming with the operational insight of a traditional esports business model will provide unparalleled opportunities to redefine the traditional publisher/player relationship and ensure gamers benefit from the virtual worlds and communities.
A newcomer to the blockchain gaming space, Method MetaGuild (MMG), is taking advantage of this exciting new sector by uniting blockchain gamers worldwide through its gaming guild. The platform merges blockchain gaming with esports, unlocking unparalleled opportunities to redefine the traditional publisher/player roles.
MMG Scholarship Opportunity
MMG has become one of the fastest-growing guilds in the world so those who receive the scholarship will be granted the opportunity to earn a higher token/earning split by completing various quests and levelling up within the guild. Scholars will also be encouraged to become involved in MMG’s esports, entertainment, and education initiatives. High performers can join esports teams, while content creators can become part of its Creator Program.
To find out more about Method MetaGuild, visit their platforms:
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