Introduction
Ignite Tournaments is a play-to-earn tournament infrastructure provider that is building the world’s first play-to-earn esports tournament organization and streaming application for mobile games with payouts in cryptocurrency and NFTs.
Ignite Tournaments provides tournament functionality to pre-existing games that lack tournament architecture. The patent-pending platform can transform any skill-based mobile game into a play-to-earn game. For play-to-earn games, Ignite Tournaments’ application acts as an additional value layer above the native play-to-earn game, allowing gamers to play-to-earn in two ecosystems simultaneously, effectively doubling their earning potential.
A web application version of the platform that will support both PC and console games will also be forthcoming.
The mobile gaming industry is one of the fastest growing industries in the world, at a compound annual growth rate of 11% year on year. It is expected to grow to $272 billion in 2030. With over 2.9 billion gamers around the world, mobile gaming is the largest and fastest growing segment in the global gaming market, and will soon account for the vast majority of all global game revenue. With the global esports economy growing at a rate of +15.7% year-on-year, we can expect professional esports revenues of $1.7 billion in 2021, with average revenue per fan to grow to $5.27 by 2023.
Dovetailing with this growth is the mobile esports streaming industry, which saw live viewership numbers jump from 15.3 million hours in 2018 to 98.5 million in 2019 - an increase of more than 600% in just one year. The emergence of the $1.5B play-to-earn (P2E) industry in 2021 has ushered in a new era of decentralized gaming. According to Bitkraft, blockchain gaming is expected to grow to $50 billion by 2025. The Problem Historically, the value stream between game publishers and gamers has always been unidirectional, with gamers driving value to the publishers, while receiving nothing in return. Gamers are primarily rewarded with in-game items and in-game currency that have no real world value when they play games or compete within in-game events and tournaments.
With the exception of professional esports athletes, the vast majority of gamers never see any real world value for playing video games or competing in tournaments. For mobile gamers in particular, this issue is even more pervasive, due to the lack of mobile esports tournaments with real world prizing.
While the emergence of blockchain games and the rise of play-to-earn as an industry has begun to address the inequitable value stream between game publishers and gamers via the redistribution of revenue back to gamers most play-to-earn games currently available in the market or presently under development lack the necessary tournament architecture that would enable gamers to organize their own tournaments.
At present, there are few solutions that allow gamers to easily and quickly organize esports tournaments by themselves. The platforms that do exist are primarily limited to fiat prizes. With fiat prizing, gamers from a developing nation which doesn’t have a good exchange rate with USD can also expect to lose a significant portion on currency exchange and banking fees — the prize pools simply aren’t equitable. Moreover, tournament payouts are notoriously slow and can take up to 4-6 weeks, with very little transparency.
The few tournament platforms that are web 3.0 compatible do not have a mobile-first strategy and are not compatible with mobile game architecture.
Ignite Tournaments aims to solve these issues by building the world’s first play-to-earn mobile tournament infrastructure solution.
Last modified 9mo ago