It is becoming more evident that esports and cryptocurrencies are meant to be together because they share a lot of similarities and can be easily integrated with one another. Moreover, crypto is more accessible to gamers from developing countries, as well as states with strict financial regulations, because of its anonymity, promptness of transactions, and low fees. The esports industry is gradually embracing cryptocurrencies, like the ones featured in our list. These digital coins have already found wide application in many areas of gaming, but still haven’t reached their full potential.
Gamecredits (GAME) is an esports dedicated cryptocurrency that was launched in 2015 as a fork of Bitcoin. For your information, forking is the process of bifurcation of certain blockchain that may occur when one of the parties wants to pursue a different way of its development thus creating an alternative chain.
The purpose of this currency is to provide gamers with an opportunity to make in-game purchases, acquire unique rewards and convert these tokens into hard currencies like USD on the corresponding crypto exchanges. GameCredits come in the form of a decentralized payment system that facilitate and expedite the payments made to game developers, and thanks to the use of blockchain, GameCredits discounts the possibility for developers to receive false payments or get scammed.
Enjin Coin (ENJ) appeared in 2017 and immediately gained traction in the global community of gamers and developers because of its wide scope of application. Enjin is the ERC-20 token, which is the most popular standard for alternative cryptocurrencies, the core task of which is to serve as a backing for different virtual in-game goods, currencies, and artifacts. In other words, Enjin Coin attaches real value to almost every element of the game which have previously been literally worthless. The earned coins can be used either to purchase or trade other in-game items or they can be sold on a crypto exchange for profit.
Unikoin Gold (UKG) is also a ERC-20 utility token for the blockchain-based esportsbook, a perfect combination for avid gamers who also like to try their luck at sports gambling or casino games. Apart from the traditional betting on the outcome of esporting events, such as Counter Strike, Dota, League of Legends, and many other popular tournaments, Unikoin has a unique feature called UMode. This mode allows players to place a wager on themselves thus getting an opportunity to monetize their gaming skills. Unikoin also has a special United Masters League, which is a global Counter Strike tournament for professional teams where all payouts are being carried out in crypto.
This token is used primarily for selling or purchasing skins that are widely present in the majority of modern games, but they are especially diverse in shooters, such as Call of Duty, Counter Strike, Overwatch or Team Fortress. These skins, which were previously used just to variegate the gameplay, can now be converted to Skin Coins, a liquid currency that can be used as a speculative instrument at Skincoin.trade, the project’s official trading platform.
Last but certainly not least, First Blood (1ST) which is a really straightforward token which stipulates that skilled players get rewarded with 1ST for dominating the opposition in Dota 1 and Playerunknown’s Battlegrounds. All that is necessary to start capitalizing on the gaming proficiency is to connect the existing Steam account to the First Blood network and participate in the solo/team games or tournaments. The rewards in 1ST are converted to USD which then can be withdrawn to the Skrill account.