Skrilla is a functional Esports platform where you can engage in daily fantasy and Esports competition, betting, and social interactions in a completely decentralized blockchain ecosystem. They’re conducting an ICO now.
Skrilla wants to use Blockchain to disrupt the gaming industry
Two renowned Australian gaming companies, Puntaa and GAMURS Group have collaborated to create a licensed, fully regulated, global Esports wagering brand called Skrilla. Skrilla is live and functional Esports platform where you can engage in daily fantasy and Esports competition, betting, and social interactions in a completely decentralized blockchain ecosystem.
Current betting platforms are currently centralized in nature, you essentially bet against the house, but the inherent lack of transparency makes it incredibly hard to know if the betting odds are fair. On Skrilla, esport enthusiasts will get a chance to be part of a betting exchange, head-to-head competitions, and betting pools. The decentralized nature of Blockchain adds transparency to the betting process by creating immutable transaction documents on wagers. A blockchain ledger of wagers, positions, and game outcomes also improves audibility by making records tamper-proof.
The idea of creating a blockchain based Esports platform is fundamentally innovative and incredibly practical. To begin with, a blockchain-based Esports platform has the potential to be a truly global platform because the peer-to-peer nature of Blockchain eliminates the barriers that lock some potential players out of the market. More so, adopting blockchain technology in the gaming industry also removes intermediaries from the gaming process since gamers and spectators can place peer-to-peer bets. The elimination of intermediaries, in turn, reduces fees, helps gamers to cut costs, and it increases the price pool on payouts.
Impressive growth on the horizon for Esports
The global gaming industry is growing impressively fast even though the industry is still in its formative years. Virtual gaming, online gaming, and Esports are steadily growing in popularity because of on increased accessibility to the internet globally.
Newzoo’s latest Global Games Market Report submits that the global gaming market will grow to $108.9 billion this year and it will grow by another 19% to $128.5 billion by 2020. Another gaming industry report submits that the Esport gaming market segment will book $696 million this year.
The Esport gaming market segment is also expected to record a CAGR of 35.6% through 2020 to record revenue of $1.48 billion. Between 2016 and 2017, the global Esports market has recorded a 41.3% year-over-year increase.
The global gaming industry is still in infancy but blockchain technology is shaping up to be a massive growth driver in the industry. From the DOTA 2 competitions that millions of dollars to winners, to Call of Duty where prize pools run into the millions, eSports is gradually gaining prominence and there’s very little that the traditional sports industry can do to stop the trend.
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