In another gaming-related article, we will now cover the best performing token of last week: the DreamTeam Token. In our article about the Ludena Protocol we covered how videogames are taking over most of its competition in the field of entertainment, but what happens when we take it to the highest level?
Top of the Line
eSports are professional gaming competitions where teams composed of the greatest players of each game compete against each other in front of huge audiences for prizes that reach up to $2 million. Also, as it happens with traditional sports, teams and individual players are often sponsored by related brands.
This model has been growing in both popularity and market size even faster than gaming itself, with an annual growth of 33% compared to gaming’s 6%. However, it still hasn’t built as big of a market on its own, and revenues are still a tiny fraction of the total, but that’s where projects like the DreamTeam Token come in.
DreamTeam is a platform oriented towards the competitive gaming enthusiasts to join communities of players with similar goals as them, while also providing them with statistics and leaderboards to compare their abilities with others, find where they can grow and get a step closer towards their objective. On top of that, DreamTeam also offers daily challenges for all their supported games which every player can complete for in-game rewards!
The key movement they performed was selecting the right games to partner with: Fortnite, League of Legends and Counter Strike: Global Offensive are the top three games in the competitive scene in terms of revenue, viewer engagement and user participation, giving DreamTeam a head start in terms of potential users. But how can this model be improved?
Opening Doors
Despite being a market with a revenue potential of $700 million, there are problems that need to be addressed before big investors are motivated to take part in it. The most important issues to solve are the fragmentation of the market (participants don’t have a marketplace varied enough to advertise themselves and find sponsors, find spots in tournaments or for teams to hire and transfer players), the gatekeeping phenomenon that keeps small and mid-sized investors from entering and the high risk of fraud that threatens even the top-tier organizations.
To solve this, DreamTeam proposes the creation of a cryptographic token, fittingly called the DreamTeam Token, which would work as the backbone of a secured payment gateway with which tournaments can safely offer the rewards to the winners, advertisers and sponsors can be sure that their spent money is reaching the ultimate destination, and all players engaged in the eSports sphere can have a universal payment method for their transactions.
With this in mind, the DreamTeam token is looking at a potential market of $50 billion, with sponsorships, media rights and advertisement taking up the majority over tournament prize pools and player compensations, but it acts as an entry point for companies of all sizes to enter the landscape, which in turn will give eSports an additional boost in their way to settle as another great way to experience videogames much like we all experience sports: by watching the best in the world displaying their skills.