How Axie Infinity can contribute to the development of eSports
Is Axie Infinity's play-to-earn incentive capable of promoting the growth of eSports?
Since its emergence in 2009, cryptocurrency has revolutionised finances through its permissionless, secure, and fast methods. It has now been integrated into several prominent industries, one of which is the gaming industry.
The gaming industry has a great impact on the entertainment market. According to the UAE Ministry of Economy and Finance, the video gaming industry had a market valuation of $198.40 billion in 2021 - an outstanding figure that aims to reach $339.95 billion by 2027.
Thus, it is reasonable that many cryptocurrency projects want to get involved in video gaming, particularly the competition of electronic sports (eSports).
Similar to the gaming business, this is an industry that has grown greatly due to technology improvements, with a market worth nearly $910.3 million in 2021, according to Fortune Business Insights.
The convergence of cryptocurrency and eSports has created several opportunities for experienced players and creators. Here's how Axie Infinity (AXS) may help eSports develop.
Axie Infinity in eSports
AXS was able to consolidate its position in the crypto market and gaming business during the 2020 lockdown, when people were looking for new methods to generate income.
The blockchain network delivered on this promise, letting users to profit financially from their play-to-earn (P2E) consensus.
To earn more money, players must perform well in their games, which is an intentional approach employed by AXS to keep its users interested. Furthermore, the network enables token holders to engage in various NFT-based activities, including as acquiring, distributing, and swapping non-fungible tokens.
Axie also has its own eSports platform, Axie Esports, which they consider to be a ‘crucial aspect for future growth’ since they see how dedicated players are to win when money is at stake. With this in mind, AXS can assist the growth eSports.
Despite the recent cryptocurrency crashes, the future of gaming, particularly eSports, has never looked brighter.
Axie Infinity has a clear approach that encourages players to move further in their games to earn more money, ensuring endless opportunities to be financial fruitful for its token holders.
