What is the Impact of the Crypto Industry on the CSGO Esports Scene?

The esports scene witnessed a leap in technological advancements with the advent of cryptocurrencies and blockchain technology. There are crypto platforms dedicated specifically to address issues in the gaming industry, while others are sponsoring and generating revenue for teams. Unsurprisingly, CS: GO is one of the several games enjoying the positive impact of the crypto industry.

For instance, CS: GO skins can now be sold on a major scale using NFTs, you can pay for tournament events with crypto, betting is much easier, and your sponsored teams have better merchandise and gadgets for you. In this article, we’ll see all of these benefits in detail.

The Crypto Industry in the Esports Scene

In the beginning, cryptocurrencies and blockchain technology signified progress in the financial sector. The crypto industry ensured decentralized finance and a means to do without intermediaries and middlemen in processing funds. However, the industry has scaled beyond finances, creating unique solutions for many other sectors, including entertainment and gaming.

It has particularly revolutionized the esports industry via the creation of play-to-earn games. These games come in mobile, desktop, and console form, and you can earn an income for playing and reaching milestones. But that part is only the tip of the iceberg for fans and followers of the eSports industry. The major games of the esports scene, such as CS: GO, are expanding their reach and influence thanks to the positive offerings of cryptocurrencies.

CS: GO remains one of the biggest disciplines in the industry, still relevant and garnering fans ten years after its launch. The FPS game has one of the biggest annual tournaments in the scene, known as Majors, with an attractive prize pool of $1,000,000. Over streaming platforms, it records an average of over 600k players and over a million viewers during CS: GO tournaments. In the following headings, we’ll see how the crypto industry has positively impacted these stats.

How Has the Crypto Industry Influenced the CSGO Pro Scene?

A closer look at the crypto industry shows how heavily invested it is in gaming and entertainment. For instance, there’s the Chili ($CHZ) platform that helps you easily connect with your favorite sports teams, pay for shows, and buy merchandise. Depending on the esports game it supports, you can also leverage the features of this platform and make money while at it. Features like this and many more are seen in the CSGO pro scene.

Crypto in CS: GO Tournaments

As mentioned earlier, you can easily pay for CS: GO events with cryptocurrencies depending on the crypto platforms they partner with. This way, you never have to worry about delays in payments, extra fees, or insecurity of your funds. Furthermore, with the instant transactions that precede the reputation of cryptocurrencies, you can get the best seats in the house at indoor arenas when you pay with crypto.

Asides from that, there are now CS: GO tournaments based specifically on the use of cryptocurrencies. For example, there’s the Thunderpick bitcoin series of CS: GO that offers as much as $75,000 in pool prizes.

Sponsorships

This is probably the biggest impact the crypto industry has had on eSports. Recently, Coinbase signed a sponsorship deal with CS: GO esports tournament organizer, which means bigger and better events. It also means easier payment methods for CS: GO events, providing ease for the fans and generating more revenue for CS: GO. But Coinbase is not the only crypto platform sponsoring tournaments; there are more signing deals with CS: GO teams and even individual players.

Betting

Undoubtedly, CSGO betting remains one of the most lucrative ways of earning from the loyalty you show the game. You’ll find several betting markets on different sites when you want to bet on CS: GO. For instance, the upcoming IEM Rio 2022 already has markets on esports betting sites, giving players a huge opportunity to win big. Many of these esports betting sites accept cryptocurrencies as a means of deposit and withdrawal, eliminating unnecessary fees and long payment processing times. You can check this CSGO betting guide to know how to go about it. In addition, you should only bet with sites you trust and know will be available to give you tips on predictions.

NFTs for CS: GO Skins

CS: GO skins have always been a huge deal among players, with some selling for millions of dollars on the Steam market. But the process of buying and selling has always been a bit tedious to several enthusiasts. However, with the advent of NFTs, these skins can be easily put on marketplaces and sold at profitable prices. Furthermore, as an NFT, it’ll only be yours like in the traditional setting, and you can always resell it for an even better price.

Conclusion

These are some of the best benefits we’ve seen from the crypto industry’s venture into the CS: GO esports scene. As the game grows bigger and cryptocurrencies continue to scale, we expect even more features that will consolidate CS: GO as the biggest esports game in the world.