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1694420cookie-checkCrypto ventures deeper in gaming through various partnerships
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8 April 2022

Crypto ventures deeper in gaming through various partnerships

The video game industry continues to grow using digital assets aside from the traditional currency. However, it can be better by implementing blockchain-based assets in its development. Whether it is cryptocurrency or non-fungible tokens (NFTs), many companies are already trying their hands at making these pairing work.

The first example is Bitcasino from Yolo Group as it partners with Evil Geniuses and Betsy Games to bring you esports betting using cryptocurrency. Thus, growth in the crypto market financially supports the esports industry. There’s also FTX’s purchase of Good Luck Games, LLC, to start making a competitive card game using NFTs.

Both companies are no strangers in forming partnerships to enter new industries. Bitcasino, for instance, has partnered with musicians like the King of Afro Pop, Tekno Miles. FTX has also entered esports through a partnership with Team SoloMid (TSM) but only for naming and sponsorship rights .

Here are the more impactful partnerships to connect the gaming and crypto industries together:

Bitcasino partnership with Evil Genius and Betsy Games

Betting on tournaments is one of the most influential elements of competitive sports in history and the practice persists in esports. Bitcasino is an online casino dedicated to providing gambling games using cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). They partnered with Betsy Games to provide an esports betting platform that you can also play using the same bankroll that you use on slot games.

To make the sports betting experience more exciting, Bitcasino also joined various leagues through their partnership with professional gaming organisation Evil Geniuses (EG). Bitcasino supports their venture in the top esports scenes like League of Legends, Dota 2, and Counter-Strike: Global Offensive. They are also sponsoring every EG member in various fighting games .

FTX entering both esports and game development

FTX is a crypto exchange where users can buy and sell various blockchain-based assets. They contributed greatly to traders’ profiting and developing the crypto industry and are now exploring several aspects of game development. Purchasing Good Luck Games, LLC paved the way for the conversion of an existing digital game into an  .

The game they aim to develop is Storybook Brawl, a multiplayer collectable card game where two players or more use a custom deck to fight each other until one becomes the victor. FTX’s goal is to mint collectible cards into NFTs to give them an element of scarcity.

Meaning, only a limited number of a card can exist at a time, turning its rarity into a metric of value. The demand for the card rises as it becomes popular in the game’s future competitive scene, giving owners a way to trade them for profit. This ensures Storybook Brawl’s potential to have a healthy community-driven economy that other digital card games lack.

Take away

Crypto companies further push for blockchains’ involvement in the gaming industry. So far, there is already a successful entry to both esports and game development sides. What’s more exciting to see is how Bitcasino’s and FTXs’ existing partnerships help with gaming’s growth as a mainstream form of entertainment. For example, global ambassador Tekno Miles is the King of Afro Pop. His fame is guaranteed to shoot esports betting popularity up through their mutual partnership with Bitcasino. It is only one of the many possibilities so stay tuned for more updates on crypto and gaming news.

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