Is the crypto market switching to fantasy sports?

The COVID-19 pandemic has forced the world to go digital sooner than it had anticipated. This trend has brought a lot of challenges for the traditional betting industry. The movement restrictions imposed by countries and states have negatively affected the physical sports industry in general. Many planned major events and sports tournaments have been delayed or canceled altogether. Enter eSports Generally, the number of people participating in traditional sports betting has significantly reduced, thanks to lockdowns and other movement restrictions. Research by PWC found that the traditional sports market will experience slow growth of 3.3 percent in the coming years. This is from an average eight percent growth recorded three to five years ago. ESports is gradually but steadily replacing traditional sports. From the PWC report, eSports is growing fast. Many betters have switched to online games where they can still place their bets. ESports is attracting more and more clients. Cryptocurrencies and eSports Just like eSports, cryptocurrencies are gaining popularity, especially after many of them recorded a price increase. ESports is keen to embrace blockchain technology, especially after realizing that cryptocurrencies could be convenient for their clients. Some experts contend that eSports’ future depends on the use of digital currencies. And since the usage of cryptocurrencies continues to increase in the industry, eSports is probably set to thrive in the coming years. Both blockchain and eSports are known in some circles as digitally native ecosystems. As such, the two are working towards collaborating. Recently, they have adopted industries such as fantasy sports. Some digital research firms predict that fantasy sports will be the next big crypto market. Fantasy Sports in the Cryptocurrency Market Fantasy sports refers to games played online. In these games, players put together teams of real players. The players then go on to compete according to how the real players perform in actual games. Fantasy sports have become an integral part of eSports and a major entertainment for players. The sports have recorded significant growth during the COVID-19 lockdown. The synergism witnessed with blockchain-based applications could help expand the fantasy sports market. However, the integration of fantasy sports into the cryptocurrency market is not new and has already gained currency in some countries. For example, Russia’s CSGO skins betting is a popular eSports activity that uses cryptocurrencies. Similarly, Counter-Strike: Global Offensive is another loved video game by Valve. It’s particularly loved by those who enjoy multiplayer games. In the game, players use cryptocurrencies to place their bets. Betting with cryptocurrencies has gained popularity as many people start realizing the convenience that comes with it as compared to using fiat currencies. Since it’s impossible to use cryptocurrencies in traditional sports betting, the use of cryptos might raise a few concerns in the industry. But the digital currencies promise a lot of benefits to eSports. Participating in fantasy sports like Fanspel promises to be even more favorable for cryptocurrency users. Among other benefits, Fanspel offers them great opportunities to place bets and compete with opponent teams more effectively and quickly. http://www.cryptcointrade.com/is-the-crypto-market-switching-to-fantasy-sports/