Web3, Blockchain, Crypto Archives - Esports Insider https://esportsinsider.com/web3-blockchain-crypto Definitive source for everything esports business Thu, 23 Jan 2025 16:45:45 +0000 en-GB hourly 1 https://wordpress.org/?v=6.7.1 https://esportsinsider.com/wp-content/uploads/2025/01/cropped-esi-favicon-677fa9696a947-32x32.png Web3, Blockchain, Crypto Archives - Esports Insider https://esportsinsider.com/web3-blockchain-crypto 32 32 JD Gaming launches fan engagement platform with XBorg https://esportsinsider.com/2025/01/jd-gaming-xborg-fan-platform Thu, 23 Jan 2025 16:44:58 +0000 https://esportsinsider.com/?p=164553 JD Gaming partners with XBorg. Image credit: JD Gaming Chinese esports organisation JD Gaming has partnered with XBorg to launch a new fan engagement platform. JD Gaming’s fan platform will offer users personalised content and rewards based on their in-app activity alongside the ability to take part in challenges and unlock a range of digital … Continued

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Image of JD Gaming and Xborg logos on a red and black background
JD Gaming partners with XBorg. Image credit: JD Gaming

Chinese esports organisation JD Gaming has partnered with XBorg to launch a new fan engagement platform.

JD Gaming’s fan platform will offer users personalised content and rewards based on their in-app activity alongside the ability to take part in challenges and unlock a range of digital collectables.

Through its Player Identity Protocol, XBorg allows players to integrate data from the games they play and social media to unlock personalised experiences based on their personalities.

In an X post, the organisation stated that it is looking forward to producing more content for its international fans. Details of the release date haven’t been revealed but the organisation noted that it will launch in the first quarter of 2025.

XBorg is no stranger to the world of esports. In January 2024, it partnered with Swedish esports organisation Ninjas in Pyjamas to build its own fan engagement app.

The web3 technology company is looking to build an open infrastructure that benefits the gaming and esports industries. This is done by providing parties with the tools to create custom applications that offer engaging and gamified experiences to fans.

Owned by e-commerce company Jingdong, JD Gaming is a well-known name within Chinese esports, particularly the League of Legends scene. Its notable achievements include winning the 2023 League of Legends Mid-Season Invitational and both of LPL’s Spring and Summer Splits that same year.

In the past 12 months, the organisation has aimed to improve its efforts to engage with fans. In January 2024, it launched an official Discord channel for fans to interact directly with players and members of staff.

XBorg joins JD Gaming’s ever-expanding partnership portfolio. 2024 saw the organisation secure partnerships with the likes of British automobile manufacturer Jaguar Land Rover and German supplement brand Doppelherz.

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Razer unveils AI esports coaching project at CES 2025 https://esportsinsider.com/2025/01/razer-ai-esports-coaching-ces-ava Wed, 08 Jan 2025 11:27:13 +0000 https://esportsinsider.com/?p=161563 Image credit: Razer Gaming peripherals brand Razer has unveiled its latest project, an AI esports coach that aims to provide real-time insights and analysis. Called Project AVA, the concept was introduced at tech trade show CES 2025 and has been described by the company as ‘the ultimate AI gaming copilot.’ One of Project AVA’s main … Continued

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Razer esports AI
Image credit: Razer

Gaming peripherals brand Razer has unveiled its latest project, an AI esports coach that aims to provide real-time insights and analysis.

Called Project AVA, the concept was introduced at tech trade show CES 2025 and has been described by the company as ‘the ultimate AI gaming copilot.’

One of Project AVA’s main functions is using artificial intelligence (AI) to provide esports coaching as users play games. According to the peripherals brand, gamers will be provided with real-time insights driven by data from Team Razer’s coaches and players.

Users will also be able to analyse and review performances through personalised post-match recaps that highlight areas of improvement.  

Team Razer consists of the brand’s various esports partners, such as teams and players. In 2024, Razer announced partnerships with Movistar KOI (previously MAD Lions KOI) and TALON as well as esports players Eric ‘Snip3down’ Wrona (Apex Legends) and Zachary ‘zekken’ Patrone (VALORANT).

Alongside esports coaching, Project AVA is expected to include an AI game guide. Utilising knowledge bases, the guide intends to help users through puzzles, bosses and quests within games.

Moreover, Project AVA also aims to optimise a user’s PC set-up. According to Razer, the AI concept will analyse and fine-tune a gamer’s PC based on its specs and the user’s desired game settings. Additionally, the project checks for the latest updates in hardware, software and firmware.

On Razer’s website explaining the new project, the company noted that Project AVA has been developed by its AI gaming team and uses vision analysis alongside several other data inputs, such as public APIs.

Interestingly, Razer also noted that Project AVA has been developed as a tool for game developers as well as gamers.

In the company’s FAQs, Razer stated: “Project AVA was developed by Razer’s AI gaming team as a tool for game developers and gamers.

“It is envisaged that Project AVA can be used by game developers in their games as an onboarding tool, tutorial guide and much more. Project AVA can also be used by gamers as a copilot in all games to assist as a coach, walkthrough buddy and optimization tool.”

Razer has revealed that it will announce a beta test for Project AVA later this year. 

Alongside the introduction of Project AVA, Razer also revealed Project Arielle, a heating and cooling Razer mesh gaming chair, and the Razer Blade 16, its thinnest gaming laptop yet.

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XBorg — Building a Public Infrastructure for Esports and Gaming  https://esportsinsider.com/2025/01/xborg-building-a-public-infrastructure-esports-gaming Wed, 01 Jan 2025 13:49:02 +0000 https://esportsinsider.com/?p=161516 Image credit: XBorg While most tech startups chase venture capital, XBorg is seemingly pursuing a different vision: building an open infrastructure to benefit the gaming industry. Founded in 2022, XBorg has built a product that allows esports teams to easily create customised fan applications that provide gamified and immersive fan experiences. Some of the company’s … Continued

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XBorg Esports Insider
Image credit: XBorg

While most tech startups chase venture capital, XBorg is seemingly pursuing a different vision: building an open infrastructure to benefit the gaming industry.

Founded in 2022, XBorg has built a product that allows esports teams to easily create customised fan applications that provide gamified and immersive fan experiences. Some of the company’s partners already include the likes of Team Liquid, Ninjas in Pyjamas and Team BDS.

In 2024 it was announced that XBorg had raised a total of $9m exclusively from individual investors. As a result, XBorg today has over 25,000 gamers and industry enthusiasts who now collectively own the company and guide its development.

“Traditional companies optimise for shareholder returns. We’re optimising for industry-wide impact by creating a public good for gaming,” explained Louis Regis, XBorg’s Founder and CEO.

“When your stakeholders are the users of your platform, you can focus on long-term value creation rather than quarterly results.”

A Composable Infrastructure for Player Identity

As esports organisations look to develop loyal, lifetime fans, a variety of tools and marketing strategies have been utilised to bolster fan engagement. One of these methods is the development of apps that look to connect fans closer to teams through reward systems and personalised content. However, developing these apps can be a major undertaking. 

By working with XBorg, a team can launch personalised content feeds, achievement-based rewards or community challenges in days – all while maintaining their branding and user experience.

“Esports teams shouldn’t need a software development team to launch innovative fan features,” said Louis. 

“We’re simplifying the technical heavy lifting so brands can focus on what they do best – engaging with their communities.”

Powering these capabilities is XBorg’s core technical infrastructure, which consolidates fragmented gaming data into unified player profiles. The protocol aggregates achievements, gameplay statistics, social engagement and other metrics across games and platforms, creating digital identities that teams can leverage to create meaningful fan experiences.

“We provide the developer tools, APIs and templates that let teams focus on creating unique experiences rather than building infrastructure from scratch,” Louis explained.

“It’s similar to how Stripe simplified payments – we’re simplifying the technical heavy lifting for better fan experiences.”

A Different Model for Gaming Audiences

XBorg partners with Ninjas in Pyjamas
XBorg partnered with Ninjas in Pyjamas in 2024. Image credit: XBorg

XBorg’s community ownership model enables a different kind of long-term thinking. 

By steering away from traditional venture capital investment methods, XBorg hopes that it can focus on its mission of becoming a ‘public good’ for the gaming industry as opposed to generating quick returns.

This structure creates unique alignments, allowing developers to suggest features and build new applications on top of the protocol. Meanwhile, casual gamers can influence the direction of the products to enhance their gaming experience.

“When you’re building public infrastructure, having the actual users guide development just makes sense”, noted Louis. “Our community understands gaming’s needs firsthand because they are also esports fans.”

Challenges and Questions Ahead

While XBorg’s decentralised approach is different, it also raises questions. Can a community-governed entity effectively compete with venture-backed competitors?

The company’s bet is that community alignment will prove more valuable than traditional corporate resources. In an industry exploring new business models, XBorg’s experiment in decentralised ownership looks to offer a new template for how gaming infrastructure gets built and governed.

“Our end goal is to open-source as many components of our industry as possible,” stated Louis. 

“By making our infrastructure community-owned, we ensure it serves the entire ecosystem rather than any single company’s interests.”

As the esports industry continues to mature, XBorg’s community-first approach could signal a broader shift in how gaming infrastructure evolves – one where the lines between users, developers, and owners become increasingly blurred.

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FlyQuest and Theta Labs to launch AI esports chatbot https://esportsinsider.com/2024/12/theta-labs-flyquest-ai-chatbot Thu, 05 Dec 2024 14:00:00 +0000 https://esportsinsider.com/?p=160691 Image credit: Theta Labs / FlyQuest North American esports organisation FlyQuest has partnered with AI and blockchain company Theta Labs to launch an AI-powered esports chatbot called a.PHiD. The bot, powered by Theta EdgeCloud technology, will be used to answer fan inquiries, such as information on rosters, upcoming matches, results and statistics. a.PHiD will be … Continued

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Image credit: Theta Labs / FlyQuest

North American esports organisation FlyQuest has partnered with AI and blockchain company Theta Labs to launch an AI-powered esports chatbot called a.PHiD.

The bot, powered by Theta EdgeCloud technology, will be used to answer fan inquiries, such as information on rosters, upcoming matches, results and statistics. a.PHiD will be available through FlyQuest’s website and Discord channel.

FlyQuest is a North American esports organisation that was purchased by the Viola family office, the owners of NHL’s Florida Panthers, in 2022. Largely known for its tenure in League of Legends, FlyQuest became the final LCS champion this year before the league’s restructuring and merger into a new Americas competition.

The collaboration with Theta Labs will be focused on its Theta EdgeCloud technology which will power the newly-created chatbot. The bot will be able to have conversations with fans about various FlyQuest-related topics, such as results, rosters and merchandise. The chatbot will also be able to provide information about off-season moves, match recaps and many other pieces of information fans might be interested in but are unsure where to exactly look for it.

In addition, FlyQuest and Theta noted that the bot will have ‘extensive knowledge about League of Legends, esports and gaming’, allowing a.PHiD to answer not only questions related to the esports organisation. The chatbot will also have access to the Riot Games League of Legends API, meaning that it will be able to offer real-time information about ongoing FlyQuest matches.

Brian Anderson, CEO of FlyQuest, commented on the launch: “This collaboration will revolutionise the fan experience on our website and in our Discord server, allowing us to offer unprecedented levels of fan engagement never before seen in League of Legends.

“We are thrilled to partner with Theta Labs and leverage their advanced EdgeCloud AI technology to bring our fans closer to the action, both in one-on-one interactions and unique one-to-many experiences.”

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Floki’s Valhalla partners with KICK F1 Sim Racing team https://esportsinsider.com/2024/11/valhalla-partners-kick-f1-sim-racing Mon, 18 Nov 2024 14:30:09 +0000 https://esportsinsider.com/?p=159991 Image credit: Valhalla / KICK F1 Sim Racing Team Cryptocurrency company Floki has announced that its play-to-earn gaming platform, Valhalla, has struck a partnership with the KICK F1 Sim Racing Team to roll out a series of exclusive events during the 2025 F1 Sim Racing Season. The events will include the KICK F1 Sim Racing … Continued

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KICK x Valhalla
Image credit: Valhalla / KICK F1 Sim Racing Team

Cryptocurrency company Floki has announced that its play-to-earn gaming platform, Valhalla, has struck a partnership with the KICK F1 Sim Racing Team to roll out a series of exclusive events during the 2025 F1 Sim Racing Season.

The events will include the KICK F1 Sim Racing Team’s NFT in the Valhalla game and in-game competitions where the winners will visit Sauber Motorsport’s headquarters in Hinwil, Switzerland.

Alongside the events, Valhalla has become the presenting partner for all drivers debriefs after each official F1 Sim Racing event. This will culminate in a special content segment shared on Sauber Esports social media channels.

The game’s logo will also appear on KICK F1’s digital and social media platforms, including banner placements, branding overlays during live streams and on the driver’s sleeves. The Sauber Esports Arena will also feature Valhalla branding on wall frames, interview backdrops and more.

Valhalla is a blockchain-based video game inspired by Norse mythology. This is not the first time that the game, produced by Floki, has partnered with a company within esports, as OG Esports partnered with Valhalla in September.

Andrea Bugnone, Team Manager of KICK F1 Sim Racing Team, stated: “We are pleased to partner with Valhalla and Floki, currently one of the most innovative and engaging companies within this sector. This collaboration represents an exciting convergence between F1 Sim Racing and gaming technologies, opening a whole new world of engaging possibilities for our team.

“By integrating Valhalla’s cutting-edge platform within our team’s pursuit of excellence, we aim to enhance the F1 Sim Racing experience for fans of both KICK F1 Sim Racing Team and Valhalla itself.”

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Team Liquid launches fan engagement platform MyBlue https://esportsinsider.com/2024/11/team-liquid-myblue-platform Wed, 13 Nov 2024 17:06:15 +0000 https://esportsinsider.com/?p=159925 Image credit: Team Liquid Multinational esports organisation Team Liquid has launched a new fan engagement platform called MyBlue on the Sui blockchain. The new platform is an expansion of Liquid+, Team Liquid’s original fan engagement platform launched in 2020. Fans will be able to redeem both real-world and digital rewards by interacting with Team Liquid … Continued

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Image credit: Team Liquid

Multinational esports organisation Team Liquid has launched a new fan engagement platform called MyBlue on the Sui blockchain.

The new platform is an expansion of Liquid+, Team Liquid’s original fan engagement platform launched in 2020. Fans will be able to redeem both real-world and digital rewards by interacting with Team Liquid and completing challenges.

The new fan platform was created in collaboration with Mysten Labs, the creators of the Sui blockchain, and is the first major announcement since the deal between Team Liquid and the blockchain company was announced in February 2024. Team Liquid’s fan engagement platform Liquid+ will be replaced by the new platform.

As is expected from a partnership of this kind, Team Liquid fans will be able to access different challenges and quests inside the app. Fulfilling goals will help fans acquire digital rewards such as customisation items for their profiles. In addition, more tangible, real-world items will be available, ranging from signed jerseys and Team Liquid store discounts to exclusive access to players and merchandise.

Steve Arhancet, Co-CEO of Team Liquid, commented on the launch: “Thanks to our partnership with Mysten Labs, we’ve taken the best parts of Liquid+ and upgraded it by integrating Sui to make the ultimate fan platform. Fans show up for us, and MyBlue will enable us to keep showing up for them by offering amazing experiences and unique rewards. I can’t wait for all our fans to get their own Blue!”

To celebrate the launch of the new platform, Team Liquid will host an event on the app on November 14th, offering discounts and giveaways for fans who complete various goals.

The launch of MyBlue makes Team Liquid the latest esports brand to partner with a blockchain platform for a fan engagement tool. The likes of NIP, LOUD and Virtus.pro, among others, have also taken part in similar projects.

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TALON secures strategic partnership with co-op shooter RIFTSTORM https://esportsinsider.com/2024/10/talon-strategic-partnership-riftstorm Thu, 17 Oct 2024 15:21:51 +0000 https://esportsinsider.com/?p=159168 Image credit: TALON Hong Kong-based esports organisation TALON has partnered with co-op shooter title RIFTSTORM developed by Confiction Labs. The partnership will see the two parties collaborating to optimise RIFTSTORM in addition to creating a content series highlighting various features on offer in the game. RIFTSTORM is a new co-op looter shooter looking to increase … Continued

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Image of TALON and Riftstorm logos separated by a crack on a red background
Image credit: TALON

Hong Kong-based esports organisation TALON has partnered with co-op shooter title RIFTSTORM developed by Confiction Labs.

The partnership will see the two parties collaborating to optimise RIFTSTORM in addition to creating a content series highlighting various features on offer in the game.

RIFTSTORM is a new co-op looter shooter looking to increase its presence within the Southeast Asian market. According to a release, TALON will provide feedback to the developers with the aim of refining ‘the game’s balance and create competitive gameplay modes’ to appeal to casual and professional players.

The content series will involve members of TALON sharing their favourite builds and in-game strategies. In addition, the organisation will participate in the game’s alpha playtest which began on October 16th and will conclude on October 30th. The full release of the game is expected in 2025 across PC and consoles.

This isn’t the first time TALON has partnered with a game. In April 2024, it joined forces with Web3 gaming firm Planet Mojo, the company behind auto chess battler Mojo Melee. The organisation continues to build up its partnership portfolio as, in August, TALON joined forces with peripherals brand Razer.

RIFTSTORM is developed by Web3 entertainment company Confliction Labs. Founded in 2022, the company builds a variety of virtual experiences using blockchain.

Sean Zhang, CEO of TALON, spoke on the deal: “We are always looking for innovative games that push the envelope, and RIFTSTORM fits the bill perfectly. We can’t wait to introduce this captivating world to our community and help shape its competitive landscape.” 

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Moonray set to launch on PlayStation 5 in 2025 https://esportsinsider.com/2024/10/moonray-playstation-5-in-2025 Thu, 17 Oct 2024 14:03:36 +0000 https://esportsinsider.com/?p=159165 Image credit: Moonray Moonray, an arena combat game developed by a company of the same name (Moonray Studios), will launch on PlayStation 5 (PS5) in 2025. The game is currently free-to-play on PC, available on both the EPIC Games store and Steam, but Moonray has now announced that Sony has approved the development of a … Continued

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Moonray new game
Image credit: Moonray

Moonray, an arena combat game developed by a company of the same name (Moonray Studios), will launch on PlayStation 5 (PS5) in 2025.

The game is currently free-to-play on PC, available on both the EPIC Games store and Steam, but Moonray has now announced that Sony has approved the development of a PS5 version. This is said to be the first step in expanding the IP to the console market.

There has been no official date of release announced for the PS5 version of the game, however, the team behind Moonray has stated that the dates for early access will be made public over the coming months.

The PC version of the game first began testing with select players in March 2022 whilst the alpha was released in July 2024 on the EPIC Games Store. Since then, Moonray has grown a steady esports segment by hosting community-organised tournaments and recently introducing a 1v1 game mode which has affirmed its image as a competitive game.

Alongside the 1v1 ‘duel mode’, the title has 4v4, 8-man deathmatch and team objective game modes.

The company has also gone outside the medium of gaming to expand Moonray’s branding, notably releasing two graphic novels, ‘Mother’s Skin’ and ‘Echoes of Ascension,’ aimed at ‘developing the lore of the Moonray universe’, according to a release.

Hans Andersson, CBO and co-founder of Moonray Studios spoke on the announcement, stating: “I’m so excited we will introduce Moonray to a whole new audience of gamers. As a huge fan of arena combat games, I truly hope that Moonray can inspire players to try more games in the genre and that it encourages game devs to make more of them, too.”

This follows an announcement earlier this month that Moonray is launching an Web3 auto-battler for mobile devices in Q1 of 2025.

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Gaming card collectible platform ProDrops closes down https://esportsinsider.com/2024/09/gaming-card-collectible-platform-prodrops-closes-down Mon, 23 Sep 2024 16:13:05 +0000 https://esportsinsider.com/?p=158477 Image credit: ProGuides ProDrops, a platform for collecting gaming-themed digital digital cards, has announced that it will be shutting down operations. According to Co-founder and CEO of ProDrops Omer Ziv, the company felt that considering the conditions of the market it would not be able to “meet market expectations for early-stage gaming startups.” Over the … Continued

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ProGuides
Image credit: ProGuides

ProDrops, a platform for collecting gaming-themed digital digital cards, has announced that it will be shutting down operations.

According to Co-founder and CEO of ProDrops Omer Ziv, the company felt that considering the conditions of the market it would not be able to “meet market expectations for early-stage gaming startups.”

Over the last two and a half years, ProDrops built a gamified platform where users can gain packs by playing popular video games. Through these packs, users would collect cards of their favourite internet personalities (Pro players, Streamers and Content creators) which could be bought, sold, traded and upgraded through ProDrops.

These cards were all digital, but according to the ProDrops site the company did not offer any NFTs due to the community not having interest in them.

Before closing its doors, the ProDrops’ system worked alongside three games; Counter-Strike 2, VALORANT and Rocket League.

According to the announcement, ProDrops will be fulfilling any outstanding obligations to the company’s partners whilst undergoing the process of shutting down.

The Co-founder and CEO of ProDrops, Omer Ziv, commented on the news via LinkedIn, stating: “On a personal note, this was the hardest decision I’ve ever had to make, but it was the most responsible choice we could take at this time.

“Although it’s unfortunate and sad, I couldn’t be more proud of what we’ve achieved. We built an amazing product that truly made a difference and brightened people’s days. That’s exactly what we set out to do when we started.

“Founding and leading ProDrops was the greatest adventure I’ve ever taken on. I’ve learned so much over the past 3.5 years.”

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How Web3 prediction markets will spice things up in esports and gaming https://esportsinsider.com/2024/09/web3-prediction-markets-esports-yesports Thu, 19 Sep 2024 11:44:31 +0000 https://esportsinsider.com/?p=158349 Sebastian Quinn, Founder of Web3 esports engagement platform Yesports, writes for Esports Insider to discuss the transformative potential of blockchain-based prediction markets in the esports ecosystem. Image credit: Yesports Let’s cut through the noise. We’re always talking about the next big thing in esports. New games, fancy tournaments, AR this, VR that. But I’m here … Continued

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Sebastian Quinn, Founder of Web3 esports engagement platform Yesports, writes for Esports Insider to discuss the transformative potential of blockchain-based prediction markets in the esports ecosystem.

Yesports web3 prediction markets graphical illustration
Image credit: Yesports

Let’s cut through the noise. We’re always talking about the next big thing in esports. New games, fancy tournaments, AR this, VR that. But I’m here to tell you about something that’s going to shake things up in a way we haven’t seen before: Web3 prediction markets.

Now, I know what some of the readers might be thinking. “Prediction markets? Isn’t that just a fancy term for betting?” Well, yes and no. Sure, at its core, we’re talking about people putting money (or tokens) on the line based on what they think will happen.

But when powered by blockchain technology and integrated into the fabric of esports and gaming, prediction markets go far beyond just convincing people to buy some random token or bet their life savings on whether xXNoScope420Xx will land a headshot.

This is about fundamentally changing how we interact with esports. This is about transforming passive viewers into active participants. This is about creating new forms of content. And this is even about reshaping the financial landscape of the gaming world.

Where UGC meets prediction markets

We’ve all seen how user-generated content (UGC) has been a driving force in gaming for years. Platforms like Minecraft, Roblox have shown the incredible creativity and engagement that can be unlocked when you give players the tools to create their own experiences. Even the upcoming GTA 6 is jumping on the UGC bandwagon.

But what happens when we mash that creative freedom up with the economic incentives of prediction markets? Suddenly, every player with a wild idea becomes a potential market maker. It’s not just about predicting who’ll win the next big tournament. It’s about creating markets for the craziest, most specific in-game events you can think of.

Let’s imagine you’re watching your favorite Fortnite streamer — and they set up a challenge. “I bet I can get 10 kills in the next 5 minutes.” Boom – instant prediction market. Viewers can jump in, betting on whether the streamer will pull it off or fall short. As the game unfolds, the odds shift in real-time.

Or how about this: a Minecraft architect creates a market around whether they can build a to-scale replica of the Millennium Falcon before their stream ends. As the clock ticks down and the build progresses, viewers are on the edge of their seats, their predictions riding on every placed block.

This isn’t just idle speculation. It’s a whole new layer of engagement that turns passive viewers into active participants. The key here is that these markets aren’t limited to simple win/loss predictions. With the flexibility of UGC, we can create markets around virtually any in-game event or outcome.

This opens up a vast new space for engagement and interaction.

Yesports logo
Founded in 2021, Yesports has built a Web3 engagement platform for esports. Image credit: Yesports

Rise of esports oracles

In the world of Web3 prediction markets, accuracy isn’t just about winning a bet – it’s about building a reputation. This is where the concept of ‘”esports oracles’” comes into play.

In traditional sports betting, your track record of accurate predictions might earn you some respect among your peers — but it doesn’t necessarily translate into any tangible benefits. In a Web3 ecosystem, however, we can create systems where your prediction accuracy directly impacts your influence and earning potential.

Here’s how it could work: Every time you participate in a prediction market, your accuracy is recorded on the blockchain. Over time, you build up a verifiable track record. As your accuracy improves, you could earn tokens that give you more voting power in future markets. You might gain access to exclusive markets or earn a larger share of the fees generated by markets you participate in.

This system creates a powerful incentive for participants to develop deep knowledge of the games, teams and players they’re predicting on. It rewards careful analysis and insight, rather than just luck. Over time, the most successful predictors could become influential figures in their own right, respected for their understanding of the esports landscape.

But this system also presents challenges. How do we prevent manipulation? What if a player or team tries to influence the outcome of a match to cash in on a prediction market? These are complex issues that will require careful consideration and robust safeguards.

One potential solution is to implement a time delay on high-stakes markets, similar to how traditional stock markets have circuit breakers to prevent extreme volatility. Another approach could be to limit the size of bets relative to the total market size, preventing any single actor from having too much influence.

Visualisation of Web3 (Shutterstock)
Image via: Shutterstock

Integrating esports with DeFi

When integrated with the broader decentraliszed finance (DeFi) ecosystem, Web3 prediction markets in esports open up entirely new financial possibilities.

What if your hot streak in predicting Dota 2 matches could become collateral for a loan? What if your rare Fortnite skin could be staked on a prediction about the next big esports tournament? We’re talking about creating an entire financial ecosystem built on gaming knowledge and skills. It’s like if Wall Street and Twitch had a lovechild — and that child was really into blockchain.

The DeFi world is already experimenting with all sorts of wild financial instruments. Why not ones based on esports predictions? Your understanding of game mechanics, player psychology and team dynamics could literally become a valuable asset. 

One particularly innovative approach gaining traction is the concept of no-loss prediction markets. These platforms allow users to participate in prediction markets using only the interest generated from their staked collateral. Such a model significantly reduces risk for participants, as they can’t lose their initial stake.

Furthermore, consider the concept of using your prediction market performance as collateral in DeFi protocols. If you have a proven track record of accurate predictions, that becomes a valuable asset. You could potentially use this track record to access loans, earn yield, or participate in other financial products within the DeFi ecosystem.

This integration could work in reverse as well. Holders of gaming-related NFTs or tokens could stake them on prediction markets, adding another layer of utility to these digital assets. A rare in-game item could become not just a collectible — but a financial instrument that can be leveraged in prediction markets.

It creates a new financial layer on top of the gaming world, one where skill and knowledge in esports can translate directly into financial opportunities.

Yesports digital collectibles
Yesports runs a marketplace for digital collectibles. Image credit: Yesports

Esports 3.0

I’m not saying this is going to be easy. We’ve got hurdles to clear —- regulatory issues, concerns about fairness, the usual headaches that come with any new tech. But the potential here is too big to ignore.

For game devs, esports orgs and platforms, the writing is on the wall. Web3 prediction markets aren’t just coming; – they’re going to upend the whole esports ecosystem. Those who get ahead of this curve are going to be the ones shaping the future of how we interact with competitive gaming.

We’re entering an era where every viewer is a potential player in their own right —- not on the virtual battlefield, — but in the markets that surround it. It’s a future where your understanding of the game, your ability to read players and predict outcomes, becomes a skill as valuable as a lightning-fast trigger finger.

So buckle up. The esports world as we know it is could be about to get a lot more interesting. And a lot more unpredictable.

The post How Web3 prediction markets will spice things up in esports and gaming appeared first on Esports Insider.

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