Millennials Eye The Uses Of Cryptocurrencies For Esports
Posted 21st March 2018 By: Derpina    204 Views
Esports News – Cryptocurrencies, especially Bitcoin, are the latest trends in esports betting. The booming popularity of the two gave way to the massive revenue of major championships in CS:GO, LoL, Overwatch, and Dota 2. And now that esports betting is steadily opening opportunities for every gamer and gambler, a study conducted by digital World Asset eXchange (WAX) revealed that a big percentage of millennials sees that there are many potential benefits and solutions to be gained from using cryptocurrency in esports gaming.
The CEO of WAX Token, William Quigley, shared the summary of the study in a press release. He stated: “The widespread usage of cryptocurrency in online video gaming is imminent. Video gamers are tech-savvy members of a global community with the desire to make frequent, small transactions across borders. The results of the study could not be clearer: video gamers want to be able to use cryptocurrency to make low-cost gaming-related transactions.”
Survey in numbers
The study conducted by WAX surveyed 1,000 gamers in the United States (US) last February, all came from Millennial’s group ages. If the recent London Block Exchange report shows that around 5% of all millennials have invested in cryptocurrencies, the WAX report revealed that 55% of millennial gamers in the sample population already use cryptocurrencies.
The highest percentages garnered are the 80% millennials interested in using cryptocurrencies to make transactions in gaming, and the 75% millennial gamers wish they could exchange their virtual goods for cryptocurrencies to participate in buying, selling, and trading in the future. The best example of this exchange is the “Skin Gambling” practice where users sell cosmetic gaming elements called “skins”, some players use it for betting. The practice originated in CS:GO betting, but is now widely popular in other virtual communities.
As for the views regarding the actual features and nature of the cryptocurrencies, here are the results: Over 75 percent of gamers claim that they might be using cryptocurrencies because of they’re major benefits for easier transactions. 66 percent are interested in stronger financial security, 49 percent agrees that they would enjoy the faster transaction speeds, 42 percent likes that cryptocurrencies decrease the level of exchange rates, and 44 percent wants the lower transaction fees.