eSports is a big market – a global business, generating hundreds of millions of dollars every year. Despite the amazing market potential and growth eSports currently lacks in possibilities that are fundamental for its future development.
eByte combines two of the most growing markets to establish the global eSports infrastucture of the future - made in Germany.
eSports is a big business—and getting bigger. What started as a hobby or casual pastime for many people—competing against other players in online video games—has quickly evolved into a global business that generates hundreds of millions of dollars annually. Yet, despite the rapid growth in eSports revenue, only a few recognized professional players are well-compensated. Most players receive little or nothing in return for their skill and commitment.
At the same time, eSports teams often lack the resources to equip players with the latest technology.
And without guaranteed compensation, talented players frequently switch teams in search of better opportunities, making it difficult for teams to manage their rosters and attract investors and sponsors. Similarly, leagues and event and tournament organizers have no financial resources to promote their activities or support the growth of their projects. Therefore, people such as moderators, administrators, and service providers receive no compensation for their work.
The eByte project is developing a consortium blockchain, in cooperation with Draglet, to establish the first international monetary system specifically designed for the eSports community. The eByte project also includes a trustworthy contract system for leagues, teams, and players, to ensure all participants and service providers can be rewarded for their achievements in a safe and simple way.
In addition, the new cryptocurrency will enable fans to support their favorite teams and players with donations. The eByte portals and platforms will give investors and sponsors a complete overview of the eSports market, making it easier for them to participate in the growth of eSports. Like the Ethereum blockchain, developers will be able to use the eByte blockchain as a third party development platform optimized for gaming projects as well as eSports solutions.
Our eByte project team understands the problems of people in the eSports community, because we’re part of that community. We have spent many years participating in eSports both as players
and organizers, which has enabled us to gain valuable experience in all kinds of eSports. Our team has the technical knowledge to develop the eByte as a project that will address the needs and concerns of eSports enthusiasts—from players and fans to sponsors and investors. We believe that a blockchain is ideally suited for the requirements of eSport and enables the independent
development of useable, user-friendly and standardized applications and functionalities. With the development of our consortium blockchain, we offer the eSports Community an easily accessible, extensible and cost-efficient platform for getting started in mining, applying smart contracts and accessing blockchain technology. As part of our project, we will ensure that active applications and users on the blockchain are in no way affected by ongoing activities on the network, similar to the DAO project, Parity or Cryptokitties on the Ethereum blockchain.
In addition, we enlisted the support of leading consultants who have experience successfully navigating the challenges associated with launching a new cryptocurrency. Currently, the eByte
project with its partnerships has already access to more than 45,000 eSports enthusiasts and potential users. All of these partners trust in eByte as a solution for the ongoing problems in the eSports scene.
With the eByte cryptocoin, digital sports will take a big step closer to sports in the physical world.
Despite the amazing market potential and growth eSports currently lacks in possibilities that are fundamental for its future development. As a relatively young and booming industry, eSports lives from the enthusiasm of its community but has a clear need for professional market structures that ensure secure, easy and transparent contracts between all parties. Our vision with eByte is to contribute to the maturation of eSports by solving the following challenges.
* Challenge: Investment decisions are very difficult since there are no uniform portals that allow uncomplicated and secure participations in eSports.
* eByte solution: eByte will offer a new platform (the eByte Team Market) that provides future investors and sponsors a complete overview of the market through specific measures and manageable market values of teams, leagues and players.
* Challenge: Insufficient financial compensation for eSports event organizers and teams. Only high ranking players are rewarded for their performance. This results inhibited growth of eSports industry.
* eByte solution: Development of a new contractual system (smart contracts) to enable the first profound market economy in digital sports. Monetization of eSports projects by secure distribution of participation fees, prize money to all participants and generating income through mining.
* Challenge: Players invest a lot of time and energy in training and competitive games but have no financial safety. Self-marketing and sponsor acquisition is demanding and therefore teams suffer a high fluctuation of their players.
* eByte solution: The eByte smart contracts enable teams to send their players regular compensation via blockchain. Teams are able to bound successful players for longer terms with player contracts. Our eByte compensation system will provide increased financial scope for purchasing hardware or software. The eByte network adds additional possibilities for usage of the revenues, such as purchasing services on the eByte Service Market and marketing content on the eByte betting and streaming portal. An eByte blockchain database provides information about the market value of each player at any time, which also improves the inclusion of sponsors and investors.
* Challenge: eSports sponsors and fans have to use fiat money to support their favorite players and leagues. Betting on eSports via popular platforms offers no added value for the actual content producers.
* eByte solution: The eByte blockchain enables sponsors and fans to support their favorites in cryptocurrencies in an easy and secure way. Through eByte betting portals the manufacturers of eSports content will then be able to make profits.
* Challenge: Community service providers cannot be rewarded in a fair and easy way for their work – some even volunteer their work.
eByte solution: By using the eByte blockchain technology remuneration of community services can be processed securely and transparently in a new way. This will increase trust inside the community and will contribute to establish new jobs in eSports industry.