Is CryptoFights the Future of Esports?
Cary, North Carolina is home to many gaming developers, such as Epic Games. However, there’s a new start-up in town, Kronoverse. Their goal? A blockchain esports game called CryptoFights.
Blockchain technology is fascinating, even if I don’t understand it. The way it works is blockchain is essentially a public ledger, that holds data in a secure, encrypted fashion.
The most popular usage of this is bitcoin which is divisive. There are many potential uses for blockchain technology, and more than one game has tried to use it. This new start-up in Cary is trying to do just that.
What is Kronoverse?
In gaming terms, it can permanently record a player’s actions and store it on another platform. That platform, in this case, would be the Kronoverse, which more than the name of the company.
Kronoverse is their would-be gaming platform and a gaming metaverse. Much in the same way as Steven Spielberg’s Ready Player One, this Kronoverse would be a series of interconnected games, to be a part of something greater.
The first part of this metaverse is CryptoFights, a 3D fantasy RPG. In CryptoFights, the motivation to win is real money prizes. That’s right, you can win cold, hard cash for doing battle and winning.
However, it looks like you will have to fund your account with a credit card or your cryptocurrency, which is the part that causes me the most worry. Not everyone trusts or understands cryptocurrency. Having to invest your own money to start taking part in tournaments is a scary business.
Through CryptoFights, you can enter cash tournaments against other players, and those who understand the ability system. If this sticks to a class/stat system, and not about investing money to get an edge, this could be a whole new way to tackle esports.
Adam Kling, founder and CEO of Kronoverse, discussed this with WRAL Techwire: “All combat and accounting take place on the blockchain for transparency,” says Kling. “If you win, you are instantly credited the prize amount into your account.”
Supposedly, all of this is transparent, and winners would be immediately paid after winning a tournament. That’s a great thing, as far as I see, as you do not have to wait for an org to give you your split, or a tournament to hit your PayPal. If this takes off and people start winning, it could be a brand-new, exciting way to play in the esports realm.
Where Do We Go from Here?
This system is not quite yet. Even with $1 million raised and interactive entrepreneur Ron Chaimowitz on board, there’s still ways to go. The closed beta is coming next month.
The testing phase will find bugs, figure out what is working, and what isn’t, and, most important, feedback. Kling’s goal is to have this ready in the first half of 2020 in 41 states.
I wish I had more information about this if I’m honest. This idea has serious potential, and as far as I’m aware, is a unique concept in the gaming world. The notion of having a connected metaverse of games to compete in, for real money? That’s an awesome concept.
My main fear is that this could become weird pay-to-win nonsense, where people invest money to get bigger payouts over other players. But with the blockchain technology, it would be incredibly easy to find cheaters.
I often talk about how important fair play is, and maybe blockchain technology could be a way to offer up fair esports events. If developers used a blockchain ledger to keep a note of how players interact, we could find cheaters easier, in theory.
The next thought would be “Can it catch aimbotters?” and if so, I’m on board. While I don’t understand it so far, I’m at the very least curious. I’m going to have to keep an eye on how CryptoFights goes from here.
While I don’t know about “the future of esports,” but I certainly am curious to see if this is a success. If it is, will other major companies adopt blockchain technology? Only time will tell.