Courtesy of the pandemic, global game downloads increased by 75%, from 2019 to 2020, and watch time for live gaming streams increased by 45%. By 2026, experts estimate that the gaming market will be worth $295.63 billion. The industry is going through a steep boom, and this sizable market is yet to arrive on the blockchain fully.
The cryptocurrency industry is composed of many companies working on different solutions for different industries. Today, the cryptocurrency market is worth about $1.2T. Comparing the size of both the spaces, the current gaming industry is worth $163 Billion, which is about 13.5% of the crypto space. And this is where GlobalGaming.io comes in.
Global Gaming brings the conventional gaming industry into the blockchain space with its decentralized platform that invokes fair policy and full transparency. It is a blockchain-based peer-to-peer ranking platform for eSports tournament play that offers prize money, player perks, membership benefits, and cryptocurrency rewards to a global online community of gamers. Global Gaming’s programmed certainty of blockchain technology provides a trusted platform for these offerings to take place.
How Are They Doing It?
With its horizontally scalable blockchain-based platform, players can create the skill level, set the rules, and provide the liquidity for fulfilling payouts utilizing Global Gaming payment solutions. Winnings are distributed automatically after all the conditions and criteria are met. With this self-regulating and trustless process, Global Gaming aims to be the Uniswap of the gaming industry.
The WP reads, “It will expand to include a variety of not just additional online gaming content, but GG platform will also include the ability for phone apps to join. It is designed to support a whole ecosystem, ranging from casual 1 to 1 gamers and low to high volume tournament players, our ecosystem will also support adding prize pools, sponsoring players, teams and tournaments, charities, gaming scholarships, and advertisement to bring awareness and growth to eSports among many other things.”
GG introduction cannot be complete without mentioning its native token GMNG, which acts as a currency within the ecosystem with a role in the following :
- Gaily cash giveaways,
- in-game coin drops,
- tournament prize money,
- bonuses for best kill,
- in-store purchase,
- a marketplace where businesses offer products and services for purchase with GMNG tokens
Bringing Trust & Beyond
With GMNG’s trustless ecosystem, untapped market potential will be realized – which is played down due to the complexity or trust issues of conventional gaming solutions today. GMNG is not only targeting the current market segment, but it has plans to onboard new users who were standing behind closed doors since the current system is not made for the amateur public. In Global Gaming, players set the odds, and all transactions are visible on the Blockchain.
The Roadmap Ahead
GMNG is in line with its roadmap milestones, several exchange listings have been achieved in the first half of 2021, and the revolutionary platform is ready to host all the arenas. Once fully sponsored tournaments have gone live, the gaming industry will be witnessing another revolution.
To stay up to date and learn more about Global Gaming, follow their official social media accounts below.