Blockchain technology is steadily crawling into the system, and today its bearing can be seen almost everywhere. From finance, healthcare, land reforms, supply chain management, to education and election.
Undoubtedly, Satoshi’s brainchild is going to disrupt more sectors and induct a paradigm shift. Even though experts point out there it will take a while for it to become ubiquitous, it is already transforming a myriad of sectors.
Blockchain and Gaming
The technology’s aptitude to remove the third party, settle payments instantly and prevent fraud positions it as an essential game changer for the gaming and betting industry.
The Games market is calculated to hit $180.1 billion in revenues in 2021 from $137.9 billion in 2018 representing more than 42 percent growth rate. It is no surprise since 2.2 billion gamers are littered around the globe.
Licensed betting and gambling are huge businesses, estimated at about half a trillion dollars per year. However, online gaming is where most of the growth is, with an expected increase of 50% in the next five years, to a yearly value of $75 billion.
Experts have concluded that gaming has the potential to be the leader in Blockchain adoption at the seeming downturn of cryptocurrencies in recent times. There is a need to leverage this potential via Blockchain adoption in the mainstream.
Running deep is the employment of Smart Contracts in Blockchain gaming, with a keen eye on providing decentralization, transparency, and trust. Many projects are on their way to deliver on these promises, but each offers its own take on how to achieve these common objectives. Below is a short summary of a few prominent examples.
Popular Blockchain gaming projects
Below are a few well-known projects are active in the Blockchain gaming space. The list is by no means exhaustive, with many other players populating the sector. Do you have your own favorite and do not see it here? Let us know by casting your vote in the survey at the end of the article.
FunFair is a Blockchain technology platform intent to enable the creation of low-cost, high-quality, secure and decentralized online casinos. Running on Ethereum and complemented by innovative Fate Channel technology, FunFair recently introduced a white-label solution for business casino operators. They also have a selection of games already developed.
FansUnite is developing a sophisticated protocol to enable other operators to run fully decentralized betting applications. The project is also planning to develop an own sportstbook, running on the FansUnite protocol. Recently, they introduced a social service to gather and track betting tipsters.
Bethereum is creating a platform to let players bet with each other, not against a bookmaker. Offering betting on sports, eSports, and third-party games, the project focuses heavily on gamification and social elements. The platform also has a B2B angle, with white-label offerings and third-party developer integration in its roadmap.
MeVu is a Malta-based platform where players can set their own odds, and bet on practically anything. It leverages Smart Contracts on the Ethereum Blockchain to immutably and transparently store players’ funds and information.
NLC2 is a Proof of Stake betting platform that unites fans of the world’s favorite sports. They focus primarily on fantasy sports mechanics, but also have a poker platform charging no fees. They already have a platform running on the Blockchain, to which they regularly add support for additional sports and games.
Peerplays’ mission is to bring “provably fair gaming to the world.” The project is bringing its own Graphene-based Blockchain into the picture, with the intention of providing the technology for the high-performing, decentralized tournament management and wagering platforms of the future.
Vote for the Best Blockchain Gaming Platform
Are you a fan of any of these projects, or have a preference for any of the other Blockchain players in the gaming space? Let us know by casting your vote in the survey below. Maximum one vote per unique user per day.