Top 5 Cryptocurrencies for the eSports Industry

Hardly anyone would argue the fact that cryptocurrencies and the gaming industry make up a natural symbiosis. The global gaming community consists of the most eager and devoted adepts of the blockchain technology and other tech-savvy people which see in cryptocurrencies the window of opportunity for monetization of their gaming skills, as well as the possibility for trading various virtual items and games, which, otherwise, might not have any transactional value whatsoever. As the connection between these two worlds is getting tighter, it may be a good idea to outline the Top 5 cryptocurrencies with the most substantial traction in that space.

Enjin Coin

ENJ was established in 2009 to serve the needs of the global community of gamers. The project has instantly gained popularity, proven by the ultra-successful ICO, which ended up with the Enjin project raising almost $19 million. The funding success allowed the team to continue their work on a host of user-oriented blockchain products that constitute the current Enjin ecosystem. Within this ecosystem, users can develop, trade, exchange, and store various types of digital assets, including the in-game virtual goods.

SkinCoin

SkinCoin is a cryptocurrency that has been created specifically for those who play such games as Counter-Strike: Global Offensive, Dota 2, and PUBG, the massive multiplayer online games that utilize a lot of weapons with unique design solutions called skins. Also, players can place bets on the outcome of various esports events using SkinCoin. The coin also allows game developers and businesses to automate the SkinCoin transaction through the partnership with CoinPayments. 

GameCredits

The GAME is a fork of Bitcoin that was introduced to the gamer community in 2015 at a price of just $0,0004 per token. Since that time, GAME managed to reach an all-time high of $6.5 before going all the way down to the current price of $0,02, still making the early investors a solid 9000% ROI. As for the fundamentals, GAME was designed as a coin that affords players an opportunity to make in-game purchases as well as sell the owned virtual goods and artifacts at an established market. Moreover, the platform has a proprietary decentralized payment system that provides for seamless peer-to-peer transactions between players.

Unikoin Gold

Unikoin Gold (UKG) is the ERC-20 compliant token that was developed to serve the needs of online sportsbooks that specialize in esports, though it is also applicable in online casinos. Thanks to UKG, players can place wagers on the outcome of literally all significant esports events and tournaments, with particular emphasis being placed on the ones related to CS: Go, Dota 2, and League of Legends. There is also a very interesting feature called UMode, which grants players the option of betting on the outcome of the game in which they participate and earn some crypto for spending hours at the computer.

First Blood

As the rest of the coins in this list, First Blood (1ST) has been developed on the basis of the Ethereum platform. The overall purpose of this coin is quite simple and understandable: it serves as an in-game reward for Dota 2 and PlayerUnkown’s Battlegrounds (PUBG) players who are overwhelming (dominating) the opposition over the course of the match. This is probably the most practical cryptocurrency in the gaming industry as players can synchronize their Steam accounts with the First Blood Network and then convert the earned tokens to fiat.

Author: Alex Paulson for Crypto-Rating.com