Fantasy sports crowned next big thing for crypto industry

• Fantasy sports are crowned the next big thing for the crypto industry by a research firm.
• Messari, a research institute, believes that blockchain has become the next natural step for esports.
• The company has found that blockchain would be the key for fantasy sports to be mass adopted.

Fantasy sports crowned next big thing for the crypto industry

Fantasy sports are crowned the next big thing for the crypto industry by a research firm. Messari, a research institute, believes that blockchain has become the next natural step for esports.

The company has found that blockchain would be the key for fantasy sports to be mass adopted. The findings were published in a report recently.

Ethereum based platforms are the most supported for a possible fantasy sports upgrade.

Mason Nystrom, a researcher, explained in the report that the digital sport is due to keep growing because of the pandemic. Mr. Nystrom went on to say that the use of blockchain technology would help encourage fans from the crypto world to participate.

To Cointelegraph, he said that esports are yet to reach their peak within the technology landscape. The researcher believes that blockchain will launch fantasy sports to a place where it is more widely adopted.

PwC research indicates that the e-game industry will grow by 7.2% within three to five years. Already a 2018 study shows that 75% of traditional sports players also play fantasy sport.

Fantasy sport is when you put together a team to win a prize whereas traditional sport is about betting. Digitizing sport is more significant now than ever as the pandemic has resulted in a fall in views and revenue.

Crowds will be a thing of the past until 2022, so the industry is reaching out to innovate. There is room for digital sport and traditional sport in the US to merge as the betting markets ban was removed in 2018.