The gaming industry has looked to esports as its potential next big gambling product for some time now, waiting for an audience to emerge, or for innovation to take it to the next level. That innovation is coming, as the Bitcoin Association have now explored with their latest exploration of Bitcoin SV use cases, “eSports on the blockchain,” with the help of Kronoverse, the parent company of CryptoFights.

We already know that the esports industry has grown a tremendous audience, with millions of concurrent viewers on Twitch, and a prediction of multi-billions in annual revenue in the near future. The association’s investigation looks prominently at what Kronoverse sees in the future of the industry, and how Bitcoin SV will add impressive functionality each step of the way, and notably, in ways that benefit the gambling industry.

CryptoFights is being built on the BSV blockchain, and is currently in its beta stage of development. They plan to implement verifiable results on chain, making wagering on matches easy, and attractive to regulators.

“In eSports at the moment, a lot of the money is being generated from advertising and sponsorship,” said Kronoverse CEO Adam Kling. “Big publishers with massive followings create huge events, where they put millions of dollars into a prize purse and fill stadiums with thousands of fans.”