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BitSport - A Peer to Peer Competitive eSports Platform - DeFi Through Gaming
Building the future of gaming fueled finance and capturing market value for the gamer for the first time.
BitSport is one of the first ever Peer to Peer Blockchain driven competitive eSports platform opening up several monetization avenues for Gamers and eSports in a competitive, decentralized fashion.
According to an in-depth breakdown by NewZoo, The World’s 2.7 Billion Gamers Will Spend $159.3 Billion on Games in 2020; The Market Will Surpass $200 Billion by 2023. Gamers are gaming more, spending more on games, and growing in population while the current behemoth centralized gaming corporations continue to grow in market value, the gamers who make up the life-blood of the gaming community are left only as consumers. Our platform offers an alternative ecosystem where instead they could be content creators that are earning in a diverse blockchain driven economy, capturing their share of the market, empowering the gaming community as a whole.
Along with a diverse array of opportunities for anyone to monetize their gaming skills, BitSport also gives spectators and sponsors an opportunity to capture a piece of the action with gamers themselves becoming an asset of their own. Thus creating a next generation, all inclusive, e-sports ecosystem in the process backed by trusted blockchain technology not just bringing the industry up to speed with the times, but into the future allowing for smart contracts to intertwine with existing online economies and creating new ones outright.
With BitSport - we bring you the Community Gauntlet, where gamers are able to demand the type of entertainment they want. Here BitSport will host tournaments, and high-stakes matches amongst influencers. These matches can be community driven through voting, or opened by sponsors to create their own custom tournaments to suit their specific use case. These curated gaming events will then be featured on our Community Gauntlet section on BitSport.gg
Current monetization modules and avenues for The Community Gauntlet are:
- Polls, Quiz's & Challenges
- Voting Rewards
- Pooled Staking
- Sponsored Tournaments
Peer to Peer Challenges allow gamers to capitalize off their skills off their chosen titles. These challenges are open to anyone and are fueled by BTP. Matches are created by users with BTP, and rewards are allocated in BTP. Gamers will be able to inspect their opponents stats profile, and accept along with reject challenges.
Peer to Peer challenges allow the community to back their choice professionals and influencers in the industry to and stake on the behalf of their picks. Creating a match pool of BTP that is shared by watchers and players alike. This BTP is then locked in a trustless smart contract, to be allocated by the outcome of the match determined by the size of each contestants pool.
Locked Liquidity Matches
Locked Liquidity Matches allow for BitSport to incentivize and drive engagement through low entry stakes Locked Liquidity matches where a BFI entry is required at a predetermined ratio between contestants. The opponents or teams will proceed to compete in their chosen digital realm. The winners of the match will receive their BFI tokens plus interest for winning. The losing party will have their tokens locked into a smart contract and held for 14 day intervals with increased rewards in BTP for longer lock times. This feature is to limit the flow of tokens onto exchanges and promote price stability, another facet of BitSport to promote anti-fragility.
Locked liquidity matches can also utilize the erc-721 protocol to reward users with unique digital assets in exchange for staking their liquidity further expanding the digital eSports economy. This protocol would allow for truly unique blockchain assets such as clan icons, or in custom in-game cosmetic rewards.
Quarterly seasonal tournaments will be held, this will be dispersed into 4 continental zones. What games, formats, and prizes will be determined by the BitPlay community. These tournaments aim to drive maximum engagement from the community by giving them a real voice in the industry for the first time. Blending physical and digital realms into a new standard of experience..
Tournaments powered by BitSport will utilize existing streaming services to live broadcast to the world, while ultimately streaming native on the BitSport platform. Creating a lucrative space for brands to gain recognition, and viewers to be able to once again capture a piece of the action through features such as:
- Live airdrops to unique viewers reversing traditional Pay Per View structures.
- Various prize pool staking options
- Unique in-game items such as seasonal exclusive cosmetics
Season qualifiers will be played in the first 3 weeks of every new fiscal quarter. A pre-determined number of participants would register to participate in their picked eSport title. Open qualification matches would begin and gamers will begin to compete for their seat at the finals. The frontrunners will be flown as part of an all expense paid trip to compete in the big leagues at the Grand BitSport Season Finals. Creating a truly AIO, level playing field for eSports to span all demographics and further empower the gamer.
Decentralized Finance (DeFi) is moving mountains in the financial space, changing our perception of how we can use digital assets, creating a myriad of creative solutions to intercept the dependency on banks we all currently rely on in the modern economic world.
BitSport is aiming to become the first to market to merge DeFi, with a decentralized gaming economy.
BFI Trading Pairs and DEX: Through locked liquidity match models BitSport will be able to host a Decentralized Exchange (DEX) with BFI based trading pairs, offering yield farming opportunities through automated market makers (AMM). The locked BFI through locked liquidity matches can be used to fuel liquidity pools providing earnings for everyone to be able earn even by losing. Matches can be built off trading pairs showing risk with transparency to all involved parties.
Stakeholders of matches will be either rewarded instantly as winners or over time with APY yields exceeding what is offered by any traditional banking institutions in a trustless fashion where users area able to see exactly where their assets are going and make informed decisions that reflect their personal interests instead of a third party in a legacy trust based institution.
Sponsor DApp: The BitSport Sponsor DApp is a lucrative way for anyone to support a favorite eSport team, established pros or climbing gamer wanting to prove their worth on the BitSport platform and earn rewards in BFI and other associated coins.
Sponsoring a tournament on BitSport is an efficient and low-risk avenue to maximize your yield and earning potentials on BitSport. Tournaments will follow predetermined protocols to allow for ultimate transparency between all parties utilizing the latest DeFi advancements to reduce risk exposure as much as currently available.
For each tournament, a smart contract fund is created where anyone can stake stable coins such as DAI, USDT, USDC etc, and farm BTP token rewards. Rewards can be claimed anytime while staked positions can be withdrawn once every 14 days.
Sponsoring a player on BitSport introduces a new feature to the world of eSports, turning players into assets for the first time. BitSport spectators can stake on the success of their favorite players. This gives the gamer liquidity to access bigger prize pools and progress through the ranks. Supporting spectators will be rewarded at a transparent pre-determined rate alongside their eSport picks.
Incentives, Rewards, Interests (for DeFi users) would be settled in BFI - the primary Cryptocurrency which governs BitSport Finance (BFI) for Sponsors.
BFI is an ERC-20 token minted on the Ethereum Blockchain. There is a total supply of 57,000 (Fifty Seven Thousand) BFI tokens.
A total of 15,000 BFI has been allocated for auction at a 5% discount.
Auction (Phase 3) Date: 20th of January to 6th of March 2021
Listing on Uniswap & HotBit: 6th of March 2021