Consensys launches Ethereum-based platform for e-sport tournaments

  • ConsenSys has announced a partnership with the North American Collegiate League (NACL) to launch an Ethereum based e-sports platform.
  • The platform will improve payment processes for players participating in the league’s tournaments.

In a press release, ConsenSys announced its partnership with the North American Collegiate League (NACL) to launch an Ethereum-based e-sports platform. The platform will serve to automate and accelerate the process of paying league players and reporting problems in a tournament.

The North American Collegiate League is a non-profit organization for electronic sports (e-sports) and entertainment based in the United States. It is the first league in this field to combine the broadcast of competitive games with mainstream entertainment. Furthermore, the NACL is affiliated with over 200 universities and has had a global average audience of 400,000 to 500,000 in the last 6 months. The league usually hosts tournaments of games like NBA 2K20, Madden, League of Legends, Fortnite, among others.

Players receive fast payments in DAI or Ethereum (ETH)

As mentioned, the Ethereum blockchain-based platform was created to improve the way players report a problem with a tournament and the time it takes for results to be reviewed. In such an event, it is necessary for administrators and third parties to manually verify any claims and the result of the tournament. However, the review process can be slow and can even affect the time it takes for players to receive their payment.

This last point is especially important for the platform and will be improved with the new solution. The partnership will allow players to receive payments automatically with a crypto wallet. In addition, if the player has no wallet, one will be generated to receive payment in the stablecoin DAI or ETH. Players’ winnings can be exchanged for fiat money, if the player chooses.

Tournaments usually pay out around 500 dollars to the winners. Now the platform will make it possible to make payments to a player for their performance or for the number of visits to the event. There will also be more transparency in payments. According to the publication, NACL and ConsenSys conducted a first test two months ago. Players in this test received their payments in DAI. Chris Gonsalves, head of gaming partnerships at ConsenSys, said the following about the benefits of the platform:

For other online leagues, there’s been countless complaints from both players and their teams of unethical and non-transparent behavior. This could be teams waiting months to get paid out, never getting paid out, or accusations of the league itself misallocating sponsorship money. You can even program revenue sharing into the smart contract among the teams, players, and game developers with bonus payments triggering based on achieving certain viewership or social media metrics.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

Comments are closed.