From Bitcoin to Ethereum, cryptocurrencies have entered the mainstream with a bang. And even though they yet struggle to actually become an immutable part of the established order of things, there is a growing number of blockchain-inspired solutions that now promise to facilitate other activities, such as monetizing esports.
Canada, You First
A Canadian esports company has decided to push ahead and develop its own cryptocurrency. Canada Cup, a popular esports tournament host, has announced the creation of its esports ecosystem (ESE) digital token. The new initiative will bestow specific privileges upon gamers who are part of the community.
ESE will have a blanket approach and it will be applicable no matter what a gamer’s status in the competitive hierarchy of esports is. You will stand to benefit from different perks of value and the crypto token will effectively replace the now available FIAT pay-out system.
As Canada Cup has described its initiative, the newly-coined token will allow gamers to benefit & be rewarded for their efforts even at the basic competitive level instead of having to progress further throughout the tiers, which may prove a mean feat for the players who are seeking to just enjoy esports in a laidback fashion.
The Boons of ESE
ESE owners can bank on a passive mode of notching up rewards via Canada Cup’s staking rewards program. Ultimately, gamers and hosts will be able to boost their earnings so that they can fund participation in tournaments without having to spare their own money.
We are honored by the amount of requests we have received from players, tournaments, streamers, commentators, cosplayers, etc. about getting sponsorship from us.
We are happy to introduce a process that will make it faster and easier. Just click below!https://t.co/0cQLR3oFzE
— eSports Ecosystem (@esportseco) August 30, 2018
Apart from this, all participants will be able to benefit from a specialty loyalty scheme that will only add to the overall satisfaction and help boost the passive award accumulation rate. However, both the staking program and the so-called Loyalty Nodes initiative will take another four or eight months to develop.
As is the wont of such projects, a community wallet will be introduced with 17% of the total initial supply. Apart from focusing to reward players on per tournaments sessions, for example, the platform will award a multitude of goodies, including scholarships, sponsorships, and charity donations. Canada Cup will not pass up on opportunity to monetize on advertisement as well, though!
The development of the esports ecosystem comes at a particularly auspicious time for the Canadian electronic sports industry, which has been showing positive signs of development.
Fight till the Very End
Canada Cup is one of the major tournament organizers in Canada. The company is dedicated to providing platform where local players can compete in fighting titles. As per the company’s official white paper, ESE will help streamline the pay-out processes that take place on its platform, allowing everyone to benefit.
The document carefully examines most major aspects of how the future initiative will work, elaborating on ESE Loyalty Nodes, focusing on its token distribution and elaborating on the hard cap. While most features will become available in Q1, 2019, there will be still more exciting changes to come following the cited period.
Canada Cup will also host an ESE tournament, which will formalize the adoption of the token as the main payment solution available for all tournaments moving forward after the specified point. Esports is tapping into blockchain-based solutions rapidly.