XAPO Introduces Bitcoin To eSports - Essay Example

This growth in Bitcoin’s popularity has tempted several industries to take a special interest in Bitcoin and reap the rewards that this digital currency has to offer.

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One such industry that has been keeping an eye on Bitcoin is the gaming industry. Video gaming and Bitcoin seem to have a special relationship that will be mutually beneficial to both the parties.

Competitive gaming is yet to be considered as a mainstream market as most of the people who buy video games do so for entertainment purposes only.

As a matter of fact, ChangeTip and Twitch.tv’s joint initiatives allow people to send Bitcoin tips to players who are putting their gaming sessions up on display in Twitch.

Xapo is trying to make use of the connection between Bitcoin and gaming. Xapo has collaborated with CEVO, which is a global sports economy as well as Leet, which is a Bitcoin based gaming service. These partnerships were made in order to further blend Bitcoin in with gaming.

What this means for the gaming and Bitcoin enthusiasts is the formation of a platform that introduces Bitcoin enabled professional gaming services to players who are users of the CEVO platform.

Currently, a number of different competitive tournaments are organized by CEVO that offer prize money to the winners. Since money is involved, CEVO’s gaming tournaments open up a pathway for people to be more receptive to Bitcoin based monetary transactions.

Users of CEVO now have the luxury of earning Bitcoins by taking part in competitive gaming and challenging their friends.

The impact of cryptocurrency in the world of digital gaming is yet to be fully felt, but given the current rate of progress, there is very little doubt about the Bitcoin and gaming partnership continuing for a very long time.

One of the reasons why Bitcoin is so advantageous to gamers worldwide is because of its minimal micropayment fees. This makes Bitcoin an asset when it comes to in-game transactions.

Xapo has invested a lot of sources in figuring out how the use of Bitcoin in the gaming industry can be optimized to improve in game engagement.

In an attempt to aid game developers and encourage them to incorporate Bitcoin into their products, Xapo has recently presented APIs that are built to develop in-game functionality for Bitcoin.

The games to look out for those who are interested in Bitcoin based gaming are League of Legends, TF2 and Counterstrike. The service that Leet is offering is quite similar in nature to that of CEVO.

Leevo too hosts games and organizes tournaments. Prize money is always up for grabs in these tournaments. The money earned by the players can withdrawn to a Xapo wallet. In there, the winnings are reserved as a Bitcoin balance.