August 30: The gaming industry has come a long way from being installed in your child’s bedroom to conquering the virtual world. Today, gaming has grown from a subculture to a dominant force in the attention economy, not least due to the acceleration of technology that has made it possible to provide a space to interact with real-life friends. and virtual. Gaming has become a low-friction space and a highly engaging third space in many people’s lives.
For most young gamers today, online gaming is the perfect platform for social interaction. According to a recent Morgan Stanley survey, more than a quarter of gamers under the age of 35 surveyed think gaming is a better channel for social connection than social media platforms. However, the gaming landscape has shifted from traditional remote control and television to more expressive and impressive virtual games. When it comes to virtual games, a popular trend is fantasy sports. The competition is based on selecting real players from different teams, watching their performance on the pitch accumulate stats such as goals or runs, and converting them into points. It is due to the growing interest in fantasy games that the Indian gaming industry is expected to reach $2.8 billion by 2022.
This virtual gaming scene fuels the virtuous circle of sports investment in the country. Through partnerships, sponsorships, and CSR, it promotes fan engagement and appreciation of diverse Indigenous and international sports, investments in physical sports development, and promotion of sports business in the ecosystem. In addition to its impact on the country’s major underlying sports, Fantasy Sports is becoming a key driver for developing future-ready skills in areas such as digital, AI/ML, cloud and digital. analysis, and it had a multiplier effect on growth. other related sectors.
It is estimated that by 2025, the fantasy sports industry will have 5 crore users, growing at a CAGR of 32%, and with a user base of 13 crore, growing at a CAGR of 32%, and India tops the chart in becoming the fastest growing fantasy sports market in the world.
Surf the fantastic wave
One company making strides in the circuit is LeagueX, a leading virtual gaming platform that transforms fantasy gaming from a spectator sport into one that fans can actively participate in. It’s a carefully crafted, intuitive fantasy sports app that rightly addresses the hotspot every avid gamer needs when gaming – a platform that’s a true convergence of technology, social media and sports. In order to provide a fun, social and immersive experience for millions of existing players and tens of millions of potential players, it is mobile-first and social-first so that experiences are more fun and interactive.
On this platform, users can search (on data such as previous match statistics, field reports and weather information) from various sources, including collecting information from friends and taking a informed decision while choosing virtual teams to participate in leagues. To top off the social experience,
LeagueX has a vertical called LeagueX Clubs which allows players to team up and compete with other groups of fantasy players. Apart from that, there is LeagueX Academy where players are also content creators, and when not actively playing, users chat, interact and talk to others via social audio.
They also have things like AI-based instant approval for KYC, unique team selection combinations, various contests, social audio, algorithm-generated NFT trophies, and more. which helped them stand out and garner a lot of affection from users. All of these features are industry firsts that put LeagueX ahead of the curve and their peers, making them leading innovators in the industry.
With the challenges posed by the industry’s lack of transparency in tracking winners or fairly distributing winnings and prizes, League X has also leveraged innovation to solve problems for fantasy players. The industry is an ideal candidate for blockchain innovation because the technology can track data associated with teams, winners, and prizes immutably. Many of the biggest brands in the gaming industry are already using blockchain technology to enhance their user experience, with League X leading the way.
LeagueX has already adopted blockchain technology in order to create a decentralized, anti-fraud and completely transparent system. The technology also opens the door for participants not only to play the game, but also in the decision-making processes of the platform. It is the rapid understanding of this proliferation of digital innovations and technologies across the fantasy gaming spectrum that has helped LeagueX conquer everything from artificial intelligence to blockchain to the nascent metaverse solely through their LeagueX and Alter.game platforms.
This generation grew up playing and watching video games the same way previous generations grew up watching physical sports like cricket and football. But today, games are going mainstream and becoming ubiquitous, going from being a subculture a few decades ago to now eclipsing many other forms of media like movies, TV, music, and print. Fantasy gaming is at the forefront of this revolution and this revolution will not be televised – it will be on the Metaverse.
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