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It seems that every single day there is a new event or tournament being held, and those events draw the eyes of many people. There’s something about watching the best of the best battle it out in any arena. You get to see how the greats take on the events and all the hard work they do pays off, and it can be very fun to root for your favorites.
Of course, the key thing that every single event needs to keep in mind is to always change. They don’t want the audience or the participants themselves to get bored, so that means introducing a lot of new things to spice it up. One of the new pieces of technology that everyone has been incorporating is cryptocurrency, and that has been very useful for a lot of events!
Poker Tournaments and Online Games
Watching poker tournaments is always exciting. You get to see masters of the game bluff, strategize, and bet hundreds of dollars on one round. But crypto poker is starting to make the rounds and increase how the game is played. For example, there are now online Bitcoin poker tournaments with lots of advantages over traditional game options.
Rather than playing with real money, all of the participants are buying in with Bitcoin. The marriage of cryptocurrency and poker tournaments is a simple match made in heaven, given the fact that poker tournaments, even the small ones, are always popular.
Even for casual gamers who simply want to play for fun, Bitcoin makes it easy. They won’t need to go to Vegas or pay a massive buy-in just to get a game. Instead, players just focus on playing right from the comfort of their homes! Being able to play online events with crypto is a winning hand for everyone involved!
Cryptocurrency has also been getting into the world of Esports. While playing video games like League of Legends and Counterstrike has been drawing Esport fans for years, the addition of blockchain technology is keeping players and fans engaged. For example, all of the prizes can be decentralized through the tech.
This allows for all of the prize money to be automatically distributed and for all players to get their winnings fairly. Additionally, because blockchain is a closed source, the potential for fraud is almost zero.
Cryptocurrency also allows for fans to engage with their favorite teams. They can purchase NFTs affiliated with their favorite teams in order to get exclusive content. Plus, they can then invest those NFTs to help crowdsource fund their teams.
The Game Of Chess
You might think that Chess and cryptocurrency have nothing to do with one another. However, that isn’t stopping the creation of the FTX Crypto Cup which ended last year. Chess greats like Magnus Carlsen found themselves taking on online games for a cryptocurrency prize pool of $1.6 Million.
Various other tournaments including the FTX Crypto Cup, The Speed Chess Championship, and the Champions Chess Tour are also using crypto for their prize pots. Mostly because of the benefits and the security that Blockchain technology provides. Blockchain is also proving to have a lot of benefits for digital chess as well.
For example, every champion chess player has an Elo system that determines their rank compared to others. When they win, they absorb some of the losing players' points as those points are docked. For physical chess players, where every tournament is tracked, this is easy. But for digital chess players, blockchain is needed to help keep the scores both accurate and transparent with every single game.
Finally, the world of soccer is starting to get into the mix of cryptocurrency. Again, NFTs and other tokens can give players unique rewards and other benefits for purchasing the tokens. Additionally, ticket sales can even be made through blockchain, showing that each and every ticket is unique and for a specific person.
Plus, for sports betting on games and other results related to soccer, people are starting to make those bets using cryptocurrency. It is easier to get a crypto wallet and make a bet, and then track that bet through the blockchain so you know where your winnings and lost money are going at all times. It can be perfect for the first-time betters of the world.
Cryptocurrency is Becoming A Champion
As various tournaments and events continue to rock the world, you might find that cryptocurrency isn’t going to be far behind. Despite it still being an emerging technology in the mainstream market, the benefits are well documented and are still being explored today. But we can’t deny that cryptocurrency has a hold on various events, and understanding how to use it might allow spectators to have more fun watching!