NFTs and Esports: The Mutually Beneficial Partnership

The merge of NFTs and Esports

Like two lovers destined to meet, NFTs and Esports are edging toward one another. The magnetic pull is evident. How could they not? Their relationship offers so much potential. A symbiotic relationship between these two rising stars could be spectacular.

With NFTs, esports brands can gain a lot. Both Esports and NFTs are experiencing booms simultaneously, and their potential is unlimited. For reference, the top 100 players in Esports earned over $1M each in 2021, while the top ten made over $4M. There is plenty of potential in this market.

NFTs experienced a $10.7 billion increase in trade volume during Quarter 3 of 2021. Esport brands naturally start to see the possibilities of these unique digital assets, which are growing in popularity. Why wouldn’t any Esports brand integrate NFTs into their market if the NBA and UFC are getting involved?

CEO of Talon Esports Words

The CEO of Talon Esports, Sean Zhang, said it best after signing a deal with YesPorts, an Esports-focused NFT marketplace.  

In his words: “Web 3.0, NFTs, and the metaverse will offer us unique and exciting ways to engage the fans.”

“After seeing the plans of real and virtual work utility, eco-conscious strategy, and a great line of eSports teams, we are thrilled to work on experiences that will provide genuine value to our customers.”

With the partnership of Talon Esports and Yesports, Talon’s NFT holders will be able to enjoy signed merchandise drops, among other perks.

Another early adopter is Esports giant OG, who made $1 million on their first NFT drop last year, selling out their NFT Mystery Boxes in a matter of seconds. One hundred thieves recently joined the fray by giving 30 lacs Polygon NFTs dubbed “Commemorative Digital 100 Thieves Championship Chains.”.

NFTs present an opportunity for significant revenue generation. As a first step, those who play Esport can later trade/sell their achievements and in-game items as NFTs. Additionally, if a brand has a large fan base, NFTs can take the form of unique collectibles such as videos, artwork, and merchandise. The goal is to keep your fans happy as well as generate revenue. Isn’t that a win-win situation?

It is not exactly true. In a largely unregulated marketplace, NFTs are only just beginning. Online scammers and fraudsters are everywhere, and they’ve seen an opportunity to exploit the NFT market. Questions raised about the authenticity, security, and quality of NFT products after EA and Ubisoft distanced themselves from the adoption of NFTs.

These concerns will be addressed by esport companies adopting NFTs, like Epic Games.

Last words 

The relationship between Esports and NFTs is just beginning, and we have barely scratched the surface of how these two worlds are converging. It is a question of whether all major Esports brands join the bandwagon. There are approximately 2.6 billion people playing games online, and NFTs provide novel ways to engage players and provide value.

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