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Glossary

Esports

November 21, 2023 - Around 3 mins mins to read

What Is Esports?

Esports has revolutionized the world of gaming by introducing a competitive element. Gamers from all corners of the globe participate in esports tournaments, vying for the chance to win millions of dollars.

Due to their immense popularity, esports players have the opportunity to secure lucrative corporate sponsorships. Some tournaments consistently attract over a million viewers. Esports encompasses a wide variety of competitive video games, ranging from popular multiplayer online battle arenas (MOBAs) for teams to single-player first-person shooters, survival battle royales, and virtual recreations of physical sports.

Esports competitions and events can draw audiences comparable to those seen at professional sporting events. For instance, the 2017 League of Legends World Championship amassed over 80 million viewers, making it one of the most-watched esports events in history. In July, ESPN and Disney XD announced a multi-year contract to broadcast the Overwatch Competition, a brand-new global league based on the popular multiplayer first-person game, Overwatch.

In 2021, PUBG, an esports multiplayer shooter game, organized an event where the victorious team, Susquehanna Soniqs, walked away with a total prize of $1,296,189.

These substantial prize pools are a common occurrence in the esports industry, which reached a total valuation of $1,084.1 million in 2021, marking a 50% increase from the previous year.

Similar to traditional athletes, players in the esports industry have the potential to earn millions of dollars in prize money from both online and offline tournaments, which is typically divided among the members of the winning team. This means that the top players in the world can easily earn seven-figure incomes in a single year. Ticket sales for these competitions contribute significantly to the revenue generated by teams and event organizers.

Furthermore, exceptional players in the esports world have opportunities for sponsorships, earning money through the production of promotional videos on platforms like YouTube and signing contracts with gaming clubs. One notable example is Tyler Blevins, widely known as Ninja, a Fortnite prodigy who is estimated to earn around $500,000 per month. Another player, Saahil “Universe” Arora, consistently earns six-figure sums from Dota 2 in major events. However, only a small percentage of players achieve this level of success.

The world of cryptocurrency is also embracing the esports gaming trend. CoinFund, a blockchain research and advisory firm, recently invested $2.3 million in an esports startup. Coinbase, a cryptocurrency exchange platform, announced its partnership with Berlin International Gaming (BIG), highlighting the recognition of crypto experts regarding the immense potential of the esports sector and its integration with blockchain technology.

With the growing popularity of multiplayer games like Axie Infinity (AXS), CryptoBlades (SKILL), and others, it is only a matter of time before blockchain gaming events become global phenomena.

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Author

Coincu

Glossary

Esports

What Is Esports?

Esports has revolutionized the world of gaming by introducing a competitive element. Gamers from all corners of the globe participate in esports tournaments, vying for the chance to win millions of dollars.

Due to their immense popularity, esports players have the opportunity to secure lucrative corporate sponsorships. Some tournaments consistently attract over a million viewers. Esports encompasses a wide variety of competitive video games, ranging from popular multiplayer online battle arenas (MOBAs) for teams to single-player first-person shooters, survival battle royales, and virtual recreations of physical sports.

Esports competitions and events can draw audiences comparable to those seen at professional sporting events. For instance, the 2017 League of Legends World Championship amassed over 80 million viewers, making it one of the most-watched esports events in history. In July, ESPN and Disney XD announced a multi-year contract to broadcast the Overwatch Competition, a brand-new global league based on the popular multiplayer first-person game, Overwatch.

In 2021, PUBG, an esports multiplayer shooter game, organized an event where the victorious team, Susquehanna Soniqs, walked away with a total prize of $1,296,189.

These substantial prize pools are a common occurrence in the esports industry, which reached a total valuation of $1,084.1 million in 2021, marking a 50% increase from the previous year.

Similar to traditional athletes, players in the esports industry have the potential to earn millions of dollars in prize money from both online and offline tournaments, which is typically divided among the members of the winning team. This means that the top players in the world can easily earn seven-figure incomes in a single year. Ticket sales for these competitions contribute significantly to the revenue generated by teams and event organizers.

Furthermore, exceptional players in the esports world have opportunities for sponsorships, earning money through the production of promotional videos on platforms like YouTube and signing contracts with gaming clubs. One notable example is Tyler Blevins, widely known as Ninja, a Fortnite prodigy who is estimated to earn around $500,000 per month. Another player, Saahil “Universe” Arora, consistently earns six-figure sums from Dota 2 in major events. However, only a small percentage of players achieve this level of success.

The world of cryptocurrency is also embracing the esports gaming trend. CoinFund, a blockchain research and advisory firm, recently invested $2.3 million in an esports startup. Coinbase, a cryptocurrency exchange platform, announced its partnership with Berlin International Gaming (BIG), highlighting the recognition of crypto experts regarding the immense potential of the esports sector and its integration with blockchain technology.

With the growing popularity of multiplayer games like Axie Infinity (AXS), CryptoBlades (SKILL), and others, it is only a matter of time before blockchain gaming events become global phenomena.

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