The crypto gaming industry covers all online games and betting with cryptocurrency. At the moment, it represents only a tiny part of the online gaming industry, which is worth more than $50 billion every year. However, it is experiencing a meteoric development. In 2021, it recorded a growth of 2,000%. And this year, companies in the sector have already raised more than $10 billion.
“Building a next-generation ecosystem”
Ultra, a publisher and distributor of online games, and Xborg, one of the leading organizations in the Esports 3.0 industry, which strive to give players control via blockchain technology, have signed a agreement cooperation for the development of crypto gaming on the web3.
The agreement provides for the two parties to share essential resources, with a view to a more inclusive growth of the crypto gaming industry. It is part of their shared vision, that of dismantling the unequal power asymmetries within the gaming industry.
“This agreement reinforces our mission to build a next-generation PC gaming platform and ecosystem that redefines distribution monopolies and empowers game developers, gamers and influencers”, explained a statement from Xborg.
For his part, Ultra said : « XBorg will use our tournament hosting platform to host a variety of future events. This will strengthen our presence in the field of e-sports”.
In addition, the agreement provides for XBorg to make its network of high-value brands, influencers, ambassadors and sponsors available to Ultra. “This part of the collaboration will be presented as a distribution channel for our games (…) Finally, XBorg will deploy part of its SBT [Soulband Tokens, Ndlr] in many of our exclusive games using the Ultra SDK”, Ultra continued.
The crypto industry gaming generates a lot of money. But it is only very little redistributed to the players. A state of affairs contrary to the values promoted by Xborg and Ultra, who plan to work to redress this injustice in the web3.
Receive a digest of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss anything essential Cointribune!
Far from having cooled my ardor, an unsuccessful investment in 2017 on a cryptocurrency only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay information related to this ecosystem with my pen.
