We’re excited to announce we’re deploying blockchain technologies at Eloplay. Thanks to them, the very operation of the platform can move to a whole new level.
Blockchain technologies can bring about full automation and transparency to the entire ecosystem of our platform.
Fundamentally, blockchain is a distributed ledger of records serviced by a decentralized computer network. As the system lacks any central entity that decides how the entire infrastructure should work, blockchain is in fact a self-sustaining system that guarantees immutability of any record stored therein.
In our case, the technology can promote decentralized prize pools, a system for game results accounting, and even automatize the betting mechanism.
Eloplay was initially created as a platform for one-on-one eSports tournaments. Still, the team eventually realized that the project might become a full-fledged eSports platform hosting team-vs-team tournaments.
Over 18 months, we’ve been testing various hypotheses related to involving players in different game modes. We tested different options of matchmaking and profile upgrading, which resulted in introduction of Elo Rating based on FIDE rules. We also developed tournament modules: we abandoned one-on-one battles for team tournaments, which include Best of N, Single Elimination, and Double Elimination. At the same time, we looked into our monetization options.
Eventually the team discovered blockchain technology that caused us to take a fresh look at classical problems of an eSports platform. Issuance of tokens and introduction of smart contracts opened the gate for a completely new functionality like smart tournaments.
Smart tournaments, where prize pools are decentralized will enable players to hold tournaments within their own communities.
For instance, if there are 100 teams of 5 people each, and every player pays just $1 to enter, the resulting pool will comprise $500, which is pretty high for a rookie player. Theoretically, the platform could host such tournaments every day with prize pools reaching millions of dollars.
In case a player has no tokens of their own to pay for participation in a tournament, they can earn them by participating in so-called sponsored tournaments, which are essentially tournaments organized by brands and companies. In this case, the prize pool is formed by the sponsor, and participation is free for all players. This might attract brands as it grants extended advertising opportunities.
It is advertising that might become a valuable source of income. Presently, there are projects like Adex, Madhive and Rebelai that open new horizons for all participants of online ad markets, which includes end users. It is evident that introducing an ad module on a blockchain-powered platform could attract advertisers interested in eSports audiences, and therefore generate profits.
The team will also develop a stats module to analyze game results and player preferences. It will help players improve their performance and study their rivals in advance. The system could become a foundation for a different module that would predict winners.
The prediction module would enable us to deploy betting functionality for eSports events occurring at Eloplay and elsewhere. Bets on eSports events in general are likely to exceed those on traditional sports in a few years. Blockchain will ensure the entire betting mechanism is completely transparent.
Later on, we will roll out a drafting system for eSports players. Such a system may be required as players tend to switch teams several times during their professional careers.
Finally, we will stream the most popular tournaments. Later on, those broadcasts will be featuring professional shoutcasting and analytics.
Eloplay seeks to create a fully functioning ecosystem for the eSports community where any player could have a chance to express themselves. In our opinion, blockchain technology is the perfect solution for most of the problems that the entire industry has to face.
All those changes will expand the platform’s international presence, especially in markets like China, the USA and the UK. As more and more players and sponsors join us, we will be able to hold major eSports events, while blockchain-based technologies will make everything easy to use and completely transparent.
We keep on developing the new options. Stay tuned.