A REVIEW OF THE CRYPTO GAMING SECTOR — ESPORTS GAMBLING, BLOCKCHAIN GAMING & VIRTUAL REALITY IN THE CLOUD
The international gaming community with its estitameted userbase of 2.6B people is a perfect place for crypto adoption, as it is international, technology-driven and mostly occupied by young people.
This perfect setup is already realizing itself, as the gaming & crypto sectors have been slowly intertwining for more than 10 years now.
There are lots of strong crypto-gaming projects already out there (as you will realize through this article), and with more and more establishing themselves all the time, we could be heading towards complete symbiosis of crypto & gaming.
THE PROJECTSLIST OF SELECTED PROJECTS
The current existing crypto gaming projects are very varied, and even more exist than i will cover in this article.
These are the projects that i found to be the most current, prominent and primarily based in the gaming sector.
Decentraland (MANA) — $111.5M
Enjin Coin (ENJ) — $82M
Game Credits (GAME) — $65M
Experience Points (XP) — $35M
Mobile Go (MGO) — $30M
First Blood (1ST) — $22M
Unikoin Gold (UKG) — $22M
Refereum (RFR) — $21M
Revolution VR (RVR) — $13.5M
BitCrystals (BCY) — $6M
HERO coin (PLAY) — $3.6M
Chimaera (CHI) — ??
Novablitz (NVT) — ??
THE BUSINESS IDEASDreamteam (DTT) — ??
There are 4 main types of business ideas in the crypto gaming sector, and many of the projects are trying to provide solutions to several of them:
1. eSports betting, gaming and tournament facilitation
2. Gaming transactions handled with cryptocurrencies
3. Blockchain based game platforms
THE CRITERIA4. Virtual reality solutions
The 3 criteria i have chosen in this article are these:
The quality of the primary idea for the project, and how this one stands against the current landscape surrounding it — in short: the quality of the idea behind the project.
Possibility of implementation involves a broader aspect of factors, such as technical specs, the team and community behind, etc.. in short: how likely the projects are to follow through on/implement their business ideas.
If the projects have a viable business idea, and are able to follow through/implement their ideas, the next question is wether the idea is likely to be adopted into use — in short: estimation of adoption by users/buyers.
Now — that we have had a quick look at the projects, the business ideas and the basic evaluation criteria — let’s start looking into each project!
Ticker: MANA Current price: 1380 sats (BTC) Marketcap: $111.5M Token platform: Ethereum Game platform: Decentraland Circulating supply: 1B Total Supply: 2.6B
Idea: Decentraland have created a virtual reality platform, where it is possible for users to create and buy/monetize content, games and applications.
Implementation: The platform is already running, why implementation has already happened.
Adoption: Project has been doing pretty well, but seems to be a bit more of an investment object, than the virtual world has been actually used — but there are both users and investors.
Personal judgement (not financial advice): Not investing — i dont personally find a virtual world attracting + market cap is already pretty high.
Ticker: ENJ Current price: 1372 sats (BTC) Marketcap: $82M Token platform: Ethereum Gaming platform: Enjin Circulating supply: 756M Total Supply: 1B
Idea: $ENJ will work on its own platform inside the Enjin universe, and give the users of the platform the possibility to create, distribute, manage and trade virtual goods with the cryptocurrency.
This is expected to decrease fraud on the platform, and give the users more flexibility, security and smaller fees for transactions.
Implementation: Enjin is the biggest social gaming website platform in existence, with 18.7M users/hosts, 250k+ gaming based communities, and 60M views per month.
Enjin already sells for millions of dollars of virtual goods on their platform every month, and the token $ENJ will act as a facilitator of all transactions on their platform.
Adoption: Since the platforms already have so many users, adoption could potentially be enormous.
Personal judgement (not financial advice): Im already invested — will hold for long term, but wont invest further.
Ticker: GAME Current price: 14286 sats Marketcap: $65M Token platform: GameCredits Gaming platform: Any Circulating supply: 64M Total Supply: 84M
Idea: Game Credits don’t have their own gaming platform, but instead have the intent of providing or replacing payment systems for or in other games, through the use of the $GAME token, with the final goal of being the universal currency for gamers.
GameCredits allows gamers to purchase in game content using cryptocurrency, and also allows payouts to developers and gamers.
Implementation GameCredits team consists of approximately 150 employees spread out in offices throughout Asia & Europe.
Recent partnership with Komodo Platform announced — Komodo have a high quality platform, and will help GameCredits with their security.
CEO is Sergey Sholom who is a former professional gamer, with a ph.d. in mathematical modeling, and good experience as an entrepreneur from his former company Datcroft Games, which has been an international succes with 15M users worldwide.
Adoption GameCredits is a part of the GNation alliance, that amongst other enables gamers to lend out their computing power, and receive payment instead.
Other heavy partnerships and a good network in the gaming industry, could vouch for a good entry into the gaming world.
Personal judgement (not financial advice): Might invest — strong team and partnerships makes the idea viable — many competitors but GameCredits could have the edge to succeed.
Ticker: XP Current prize: 2 sats (BTC) Marketcap: $35M Token platform: Exp. Points Gaming platform: Any Circulating supply: 231B Total Supply: 265.6B
Idea: Incentive currency — providing payment for playing, watching, attending or providing content in all areas. In short Experience Points sees itself as being an all encompassing global standard for loyalty points, but with a main focus on the gaming community.
Implementation: No display of team and roadmap (‘undergoing updates’) — not very convincing.
Adoption: Would need partnerships for adoption, don’t see any sign of good partnerships.
Personal judgement (not financial advice): NOT investing — too many red flags, doesn’t seem like a serious project.
Ticker: MGO Current price: 3797 sats Marketcap: $30M Token platform: Ethereum / Waves Gaming platform: Any Supply: 100M
Idea: MobileGo wants to facilitate P2P matchplay and tournaments for gamers, allowing all the non-pro gamers of the world to compete with each other for prizes, instead of just the gaming elite — in short eSport prize competition for all gamers.
This is implemented through a virtual marketplace, gamer to gamer matchplay and decentralized tournament play.
Implementation: MobileGo is a child of GameCredits, but is launching its own platform on the Android system. This app will house a selection of partnered games.
Adoption: Strong network in the gaming world as the daughter company of the more established GameCredits probably will lead to partnerships with games — this vouches for adoption potential.
Personal judgement (not financial advice): I will probably invest — I personally really like this idea, as I think many gamers are semi-pro and would like to compete in pro-eSports-like tournaments, or just compete for prizes. There are lots of competitors, but MobileGo look strong, and the market cap is still reasonably low.
Ticker: 1ST Current prize: 2006 sats (BTC) Marketcap: $22M Token platform: Ethereum Gaming platform: Any Circulating supply: 86M Total Supply: 93M
Idea: FirstBlood is focused on eSports betting, through their tournament platform, where bets can be placed p2p without middlemen, and a jury decides on match outcomes.
FirstBlood is thereby a dapp, that primarily brings eSports and cryptocurrency closer.
Implementation: FirstBlood was launched in 2016 by the team of developers Zack Coburn founder of EtherOptt, Joe Zhou, co-founder and CEO of Alt-Options, Mikko Ohtamaa CTO and co-founder of LocalBitcoins, and Joey Krug, core developer at Augur.
Adoption: $50k has been distributed in earnings according to their website.
Personal judgement (not financial advice): I might invest — platform seems cool and user friendly, dont really see the edge, but not falling behind its competitors either. Market cap reasonably low.
Ticker: UKG Current prize: 2006 sats (BTC) Marketcap: $22M Token platform: Unikorn Gold Gaming platform: Unikrn Circulating supply: 141M Total Supply: 1B
Idea: eSports betting with $UKG through their own platform (‘Unikrn’), points for playing games and possibility to participate in tournaments for prizes.
Implementation: Platform is already up and running, and looks really good actually — available on different devices (app, web, etc.).
Adoption: Possibility to arrange bets/tournaments in a lot of popular games, but CS:GO, League of Legends, DOTA 2 and Overwatch seem to have the most engaged communitys. Looks pretty popular, a lot of created events for these games.
Personal judgement (not financial advice): Might invest — seems like a legit project, with a good userbase and a nice platform that has a good user interface.
Ticker: RFR Marketcap: $21M Token platform: Ethereum Gaming platform: Any Circulating supply: 2.4M Total supply: 5M
Idea: Refereum wants to tokenize all aspects of the gaming world, paying dividends to gamers, watchers, followers, developers and eSports grand prizes in tournaments.
Implementation: Refereum don’t have their own gaming platform, but wants to establish payment for users and developers of other gaming platforms, and are e.g. working closely with Twitch and Unity. Team has a lot of experience from the gaming world, both as gamers, developers and entrepreneurs.
Adoption: Partnerships with good games are likely, why adoption possibilities are fairly good.
Personal judgement (not financial advice): Might invest — Refereum seems like one of the stronger competitors in this part of the crypto gaming sector.
Quote from the projects website: EARN REWARDS FROM GAMING Watch, play & share games to earn points and tokens.
Ticker: RVR Current prize: 825 sats (BTC) Marketcap: $13.5M Token platform: Revolution VR Game platform: Revolution VR Circulating supply: 210M Total Supply: 210M
Idea: Making high quality VR gaming accessible to anyone from everywhere, through handling the computing power (renderings of VR) in the cloud. This should make it possible to play high quality games, without the use of a powerful computer.
Implementation: The team looks capable to pull of the task, and they have some high profile investors like the creator of CNET. Roadmap looks ambitious and team seems active, though communication to community about progress is a bit lacking.
Adoption: If the team can pull it off, we are imo looking at a pretty serious possible adoption, since it would make expensive gaming computers unnecessary.
Personal judgement (not financial advice): Might invest — a possible gem since market cap is still pretty low, supply limited and already circulating. Idea is interesting and team looks somewhat capable. I think there is a lot of work still to be done on this project, and they have undertaken a big task, but if they can pull it off, it could be a gamechanger.
Ticker: BCY Current prize: 3296 sats (BTC) Marketcap: $6M Token platform: BitCrystals Game platform: EverdreamSoft Circulating supply: 23.2M Total Supply: ??
Idea: BitCrystals are building their own platform, where gamers can get personal ownership of virtual content.
Implementation: BitCrystals are launched through the swiss gaming company Everdream Soft, and can be used for buying virtual goods on this platform.
Team looks a bit sketchy, not really (good) enough info on LinkedIn.
Adoption: Adoption will happen if the Everdream Soft platform is popular, which seems to be already happening, since the ‘Moonga’ game was ranked #1 role playing game in the japanese app store. The project is still new, but according to their roadmap, several game partnerships will be announced.
Personal judgement (not financial advice): Might invest — Everdream Soft seems to be having some traction, and market cap is till pretty low.
Ticker: PLAY Current prize: 383 sats (BTC) Marketcap: $3.5M Token platform: HERO coin Betting platform: Herosphere Circulating supply: 120M Total Supply: 252M
Idea: Making it possible to bet in cryptocurrency on eSports through a decentralized platform. Furthermore creator and user awards.
Implementation: Was developed for and will be implemented on the betting platform ‘Herosphere.gg’, where you bet on games as League of Legends, CS:GO and Overwatch.
Adoption: ‘Heresphere.gg’ already has 200.000+ users (seems to be users registered not just visitors to the site), why HERO coin looks to get a great start-off adoption.
Personal judgement (not financial advice): Might invest — far from a sure bet for success, but looks like it will be getting a good start, strong competition though. The real questions are whether crypto-betting will be in demand on the platform, and whether more partnerships are established. The low marketcap is an incentive for me to invest though.
Ticker: CHI Marketcap: ?? Token platform: Chimaera Gaming platform: Chimaera Supply: ??
Idea: Chimaera is establishing its own blockchain based gaming platform, for developers to build decentralized multiplayer games on, where $CHI will be used as the primary currency.
Implementation: Furthermore the Chimaera platforms has lots of build in abilities, such as private messaging, SM and community platforms, a market for apps and games, and the possibility of launching ICO’s for new games inside the portal, all with the use of $CHI as the value denominator.
Chimaera have some interesting solutions to scalability, like trustless off-chain interactions, game channels and ephemeral timestamps, why it might be a more advanced platform technologically, though it lacks the already established userbase like e.g. Enjin Coin has.
Adoption: The adoption of the coins will be heavily dependant on developers creating games on the platform, and those games being good enough to attract gamers — since team is ex-Huntercoin mostly, im imagining the games for the platform will be mostly small-scale.
Personal judgement (not financial advice): I am not a developer, and have no idea whether the platform is good for developing — I’m not investing because of that (and because nothing else about the projects persuades me otherwise).
Ticker: NVT Current prize: ?? Marketcap: ?? Token platform: Nova Blitz Gaming platform: Nova Blitz Circulating supply: ?? Total Supply: ??
Idea: A new online card game with its own cryptocurrency.
Implementation: Game is in beta, will be launched on 11th of July 2018.
Adaptation: Depends on the quality of the game, which we are yet to see.
Personal judgement (not financial advice): Will wait to see the quality of the game before deciding on investing or not.
Bonus info: Token sale/ICO has ended ($10M raised), but $NVT is being traded on ForkDelta.
Ticker: DTT Current prize: ? Marketcap: ? Token platform: Ethereum Gaming platform: Any Circulating supply: ?? Total Supply: ??
Idea: Another eSports cryptocurrency aiming to handle all transactions in the eSports universe, and provide earning opportunities for gamers and gamblers.
Implementation: Platform is in beta, and is looking to fully launch with partial upgrades throughout 2018 & 2019.
Adaptation: Although only on beta 250k users have registered, which is a pretty solid userbase for a beta product — looks promising.
Personal judgement (not financial advice): Might invest — I gotta say im pretty impressed by those registrations.
Bonus info: presale already raised $6M, and token sale/ICO is upcoming and open for registrations.