How Cryptocurrency is Impacting Traditional Sports & Esports

The Consumer Technology Association just ran a terrific article about the effect of cryptocurrency on sports:

The recent rise of Bitcoin in the mainstream media has certainly begun a season full of blossoming initial coin offerings (ICOs). While only about three percent of the world’s population uses Bitcoin, it seems like every vertical is cashing in on the abundance of new digital currencies, which circumvent traditional banks, government regulation (at least for now) and the whims of the financial markets.

There are now more than 1,870 cryptocurrencies, according to Investing.com. And new entries appear almost daily. Keep in mind only a single cryptocurrency was available a few years ago – Bitcoin – but that is ages ago in today’s digital times. Total market capitalization for these virtual currencies is more than $312 billion. But this industry is extremely top-heavy, with the 20 biggest currencies (like Bitcoin, Ethereum, Litecoin, Stellar, Ripple and NEO) accounting for roughly 90 percent of the total market. Read the entire article here.

Leave a Reply

Your email address will not be published. Required fields are marked *