Esports, is a form of competitive video gaming that has seen a rapid rise in popularity worldwide, particularly in the Asia-Pacific region (APAC). According to a report by Newzoo, an esports data analytics firm, the esports market in APAC is expected to generate revenue of $1.7 billion in 2022. However, the industry faces several challenges, including a lack of transparency and fair rewards for players, teams, and service providers, and a need for more content to reach critical mass. One emerging solution to these issues is blockchain technology, which can help create a decentralized platform for esports, improve trust through transparency, and level the playing field for amateurs.

QGlobe is utilising Blockchain technology to create a decentralised platform that brings all stakeholders in the esports industry, including players, game developers, sponsors, media, advertisers, and team managers, under one roof. This platform can help manage the distribution of prize money, transfer of players, media rights, sponsorship, advertising, fan engagement, and other aspects of the industry. Blockchain’s transparency can improve the trust factor, enabling casual esports players to feel confident about participating, and developers to secure their work against unauthorised use. Smart contracts can act as agreements between game developers and tournament organisers, ensuring that developers are paid before their games are used in tournaments, and the transparency of smart contracts can eliminate concerns about the unfair distribution of prize money.

Moreover, QGlobe is also levelling the playing field in the esports industry by lowering the cost of maintaining and operating a secure database, which is necessary to ensure fairness and transparency. The technology uses a peer-to-peer network as its foundation and builds redundancy within the distributed database. This creates a more equitable system where amateurs can more easily participate in major tournaments, as opposed to a system where only those with deep pockets can afford to compete.

In conclusion, the esports industry in the APAC region is growing rapidly and is expected to generate significant revenue in 2022. However, it faces several challenges, including transparency, fair rewards, and a need for more content. Blockchain technology can help create a decentralised platform for esports, improve trust through transparency, and level the playing field for amateurs. QGlobe is at the forefront of this growth leveraging the latest technology to create a fairer and global system.