Crypto Gaming, a revolution in the sector this year?
The crypto gaming industry covers all online gaming and cryptocurrency betting. For now, it represents only a small part of the online gambling industry, which is worth more than 50 billion dollars every year. However, it is experiencing rapid development. In 2021, it recorded a growth of 2,000%. And this year, companies in the sector have already collected more than 10 billion dollars.
“Building a new generation ecosystem”
Ultra, a publisher and distributor of online games, and Xborg, one of the leading Esports 3.0 industry organizations that strive to put players in control through blockchain technology, have signed okay cooperation for the development of crypto games on the web3.
The agreement envisages the two parties sharing essential resources in order to grow the crypto gaming industry more inclusively. It’s part of their shared vision of removing unequal power asymmetries within the gaming industry.
“This agreement reinforces our mission to build a next-generation PC gaming platform and ecosystem that redefines distribution monopolies and empowers game developers, gamers and influencers”explained the announcement from Xborg.
For its part, Ultra said: “ XBorg will use our tournament hosting platform to host various future events. This will strengthen our presence in the field of eSports”.
In addition, the agreement provides for XBorg to make its network of high-value brands, influencers, ambassadors and sponsors available to Ultra. “This part of the collaboration will be presented as a distribution channel for our games (…) Finally, XBorg will implement part of its SBTs [Soulband Tokens, Ndlr] in many of our exclusive games that use the Ultra SDK”Ultra continued.
The crypto industry playing games makes a lot of money. But that is only very little redistributed to the players. A state of affairs contrary to the values promoted by Xborg and Ultra, who plan to work to right this injustice on the web3.
Receive a digest of news from the world of cryptocurrencies by subscribing to our new servicedaily and weekly so you don’t miss any of the important Cointribune!
Far from dampening my enthusiasm, the cryptocurrency investment failure of 2017 only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many uses and convey with my pen the information related to this ecosystem.