In the early days, cryptocurrencies and other digital assets were too taboo for traditional media attention. As few reputable sources were willing to cover an anarchist currency, it was kept alive through discussion forums, IRC chat rooms, and electronic mailing lists. But these online hubs also happen to be the home of video game enthusiasts.
Virtual currencies are not new to the gaming industry. From V-bucks to Primogems, video game studios have long reaped the benefits of microtransaction-based business models using intermediary tokens. People enjoy investing money in video games they love, and with the advent of real-time game streaming, the industry’s willingness to embrace new technologies has created thousands of careers throughout the world.
The role of gaming in smoothing down the transition to virtual currency is often overlooked, yet cryptocurrencies and games monetization is a match made in heaven. Together, they have the potential to change how games are designed, lowering the barrier for newcomers and building more community-driven gaming environments.
Last year, as fears of the COVID-19 pandemic grew, live events in the eSports industry witnessed a significant hit. However, this increased viewership numbers across many live streaming events. Furthermore, the eSports market’s revenue experienced unprecedented growth.
Studies suggest the global eSports market generated approximately $1.1 billion in income this year, with metrics forecasting a 45 percent increase to $1.6 billion by 2024. According to Newzoo’s Global eSports Market Report, audience sizes have also soared by 11% this year, reaching over half a billion people in 2021.
The mobile gaming sector has also contributed to the gaming market’s fast growth. With the rapid increase in smartphone usage and market penetration rates, smartphone games accounted for more than half of the global gaming revenues last year. Additionally, mobile game revenues are expected to surpass $100 billion by 2023.
The United States, in particular, has been one of the world’s biggest markets for video games. In 2020, mobile gaming revenue touched a record $10.7 billion. Moreover, mobile game users are at an all-time high thanks to technical advancements and digital innovation.
OkLetsPlay – The Next-Gen Real Money eSports Tournament Platform
OkLetsPlay is a patented eSports tournament platform for competitive and casual gaming on PC, mobile, and consoles with real money prizes. The platform is also enabling a community of gamers to potentially win big by playing their favourite games while positioning itself between two of the fastest-growing industries.
Gaming is an adrenaline rush, and OkLetsPlay is making this even more exciting and rewarding by allowing players to wager on skill-based games. Players’ ability to win against an opponent is solely determined by skill rather than chance, that’s what spices up this mix!
Using a patented out-of-game peer wagering module developed in-house, OkLetsPlay is fully cross-platform enabled. Their recent beta test was a huge success, with over 9,000 concurrent players playing over 4,000 matches across 200 tournaments and upwards of $10,000 in rewards.
The team at OkLetsPlay has been building, testing, and refining their gaming platform since 2017, working with some of the world’s largest eSports teams to ensure reliability during tournaments and a smooth and intuitive player experience.
OkLetsPlay has a number of advantages over its competitors, including:
- A patented out-of-game wagering module
- Cross-platform access from mobile, PC, and consoles
- Provides the flexibility to play games against players from across the globe for any amount of money
- Offers a rich player ecosystem and additional revenue stream for developers and gamers
- Enhanced avenues for influencers and streamers to conduct community engagement
OkLetsPlay envisions an open and borderless digital world where technology lets people from anywhere in the world exchange value globally without gatekeepers or intermediaries. A world in which gaming communities thrive, unconstrained by geographic borders and outdated regulations. LetsBetCoin (LBC), the utility token within the OkLetsPlay platform, is a key element in achieving that vision.
OkLetsPlay promotes an environment that welcomes players of all skill levels and gaming interests and is a transparent entertainment platform that offers a seamless and secure experience for both existing gamers and newcomers.
By facilitating a straightforward and secure experience for players to compete in an organized way to earn real money, OkLetsPlay aims to break down barriers for players, developers, and content creators, while opening them up to a world of opportunities in the realms of blockchain and gaming.