eSports is a big business—and getting bigger. What started as a hobby or casual pastime for many people—competing against other players in online video games—has quickly evolved into a global business that generates hundreds of millions of dollars annually. Yet, despite the rapid growth in eSports revenue, only a few recognized professional players are well-compensated. Most players receive little or nothing in return for their skill and commitment.
At the same time, eSports teams often lack the resources to equip players with the latest technology. And without guaranteed compensation, talented players frequently switch teams in search of better opportunities, making it difficult for teams to manage their rosters and attract investors and sponsors. Similarly, leagues and event and tournament organizers have no financial resources to promote their activities or support the growth of their projects. Therefore, people such as moderators, administrators, and service providers receive no compensation for their work.
The eByte project is developing a consortium blockchain, in cooperation with Draglet, to establish the first international monetary system specifically designed for the eSports community. The eByte project also includes a trustworthy contract system for leagues, teams, and players, to ensure all participants and service providers can be rewarded for their achievements in a safe and simple way. In addition, the new cryptocurrency will enable fans to support their favorite teams and players with donations. The eByte portals and platforms will give investors and sponsors a complete overview of the eSports market, making it easier for them to participate in the growth of eSports. Like the Ethereum blockchain, developers will be able to use the eByte blockchain as a third party development platform optimized for gaming projects as well as eSports solutions.
Our eByte project team understands the problems of people in the eSports community, because we’re part of that community. We have spent many years participating in eSports both as players and organizers, which has enabled us to gain valuable experience in all kinds of eSports. Our team has the technical knowledge to develop the eByte as a project that will address the needs and concerns of eSports enthusiasts—from players and fans to sponsors and investors. We believe that a blockchain is ideally suited for the requirements of eSport and enables the independent development of useable, user-friendly and standardized applications and functionalities. With the development of our consortium blockchain, we offer the eSports Community an easily accessible, extensible and cost-efficient platform for getting started in mining, applying smart contracts and accessing blockchain technology. As part of our project, we will ensure that active applications and users on the blockchain are in no way affected by ongoing activities on the network, similar to the DAO project, Parity or Cryptokitties on the Ethereum blockchain.
In addition, we enlisted the support of leading consultants such as New Alchemy and Draglet, who have experience successfully navigating the challenges associated with launching a new cryptocurrency. Currently, the eByte project with its partnerships has already access to more than 45,000 eSports enthusiasts and potential users. All of these partners trust in eByte as a solution for the ongoing problems in the eSports scene.
With the eByte cryptocoin, digital sports will take a big step closer to sports in the physical world.