We Enter Into 2022, A Bumper Year for Esports
Websites such as gg.bet/en/esports/ have been spending more time on polishing their esports offers, and with a good reason. The growth of competitive video gaming is imminent in 2022. More sponsors are entering the space.
Those include mainstream brands who are cognizant of the potential and exposure that their participation in esports leads to. For example, cryptocurrency exchanges are buying up the rights for esports teams. Team SoloMid received a $210 million naming rights offer in 2021 by FTX.
They accepted it. Now more are trying to seduce esports organizations. The reason why? Brands are eager to get better exposure, leading to better engagement options. Engagement would create more revenue streams for partners but also validate esports as a vessel of commercial success outside of competitive video gaming.
Many mainstream brands have been hesitant to enter the space. One of the first to do so, BMW recently commissioned a study by Nielsen, a global analytics firm, which saw a strong increase in brand awareness among video gamers. This, in turn, has proven the value of esports organizations as an advertisement medium. Here are some of the big developments ahead.
Esports Adopting to Crypto and Vice Versa
The first thing that we have noticed is the penetration of the crypto sector in esports and vice versa. The fact is that many more esports companies are now accepting sponsorships from cryptocurrency companies. Team SoloMid and FTX formed one.
The biggest esports event’s most recent winners of The International – Team Spirit has also signed a partnership with a crypto exchange. However, esports teams and gamers are not just interested in exchanges. They are also looking to leverage blockchain technology.
This can be done in several established ways. For starters, there are non-fungible tokens sold as team paraphernalia. NFTs are digital deeds of ownership inscribed in a public ledger so that you can own a picture or some other digitalized good in a way that proves your ownership to everyone else.
It’s much like Valve’s Steam Store, for example. You may not have the physical copy of the game, but it’s yours, and it’s always there when you log in to play. So, NFTs are becoming somewhat popular with esports fans eager to claim memorabilia that they can only have.
Bragging rights is, after all, a huge part of esports. In fact, you may argue that esports is predicated on bragging rights. Go back 20 years, and you didn’t have thousands of people watching you live, with millions at home. In fact, things have changed a lot since those early days, but what esports fans and players value – not by so much. Apart from NFTs, there are fan tokens created by companies such as Socios.com. The idea here is to make esports fans more involved and engaged with their teams.
In other words, a fan token would allow an esports fan who owns it to weigh in on a club decision. Much like shareholders do when they are voting in favor of or against the sale of some company, for example.
Esports is set for a bumper year as the industry becomes a fertile ground for numerous well-heeled investors who are eager to spend a pretty penny to get their brand out there, and they will.