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Esports site uses cutting-edge blockchain protocol to launch NFTs

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An esports-focused site that uses a cutting-edge blockchain protocol to eliminate manipulation in video views has now launched non-fungible tokens.

Esports Fight Club, which is owned by Verasity, says the NFTs on offer include posters, badges, weapons, mods and short videos that summarize top highlights from esports tournaments. All of them are built using Verasity’s proprietary and patented Proof-of-View protocol, which aims to eliminate fraud from the world of video monetization.

Each NFT found on the platform is unique, with ownership validated through PoV. This gives users full control over their non-fungible tokens — enabling them to resell or distribute them at will.

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NFTs are going to be available on the Esports Fight Club Store soon, alongside a wide range of other merchandise.

A natural progression

According to Verasity, it is natural for NFTs to be a prominent feature of Esports Fight Club, given how these digital assets are so well-suited to fan-based economies. Across the industry, these tokens are now being used to create trading cards of top athletes and commemorate memorable moments in sporting events.

Verasity offers a proprietary video player that can track genuine viewership levels, alongside user intent and contextual data. As previously reported by Cointelegraph, the project is engaged in a battle against fake views — and its Proof-of-View protocol has been rewarded with a patent from the U.S. Patent and Trademark Office (#1095693).

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Through Esports Fight Club, a professional streamer with a large fan base would be able to use the platform — coupled with Verasity technology — for data storage, consumption and targeted NFTs.

MORE INSIGHTS FROM VERASITY HERE

Injecting trust into NFTs

Executives at Verasity believe that Proof-of-View could help eliminate some of the incidents of fraud that are seen in the NFTs space today — an issue that has stopped some published artists from taking their first leap into crypto. Some creators have claimed that their artwork has appeared on NFT marketplaces without their consent.

Proof-of-View boasts technology that can be applied to digital collectibles as well as video content.

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Data from users is saved in the form of a fingerprint that is hashed and put on the blockchain to validate the chain of authenticity, which also complies with privacy regulations.

Given how NFTs are exploding in popularity right now, with sales surging as thousands of new investors flood into the space, it’s hoped that Verasity’s approach will champion authenticity, trust and ownership — all while enhancing the experience that the passionate Esports Fight Club community enjoys.

Verasity is currently in discussions with a large NFT auction house to implement Proof-of-View as a standard protocol to validate the chain of authenticity of NFTs for the entire industry.

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Esports and NFTs: Peas in a pod?

Experts in the esports industry believe that NFTs can enhance game monetization opportunities for publishers and developers alike — and transform the way players engage with their favorite titles. Thanks to NFTs, gamers will have the chance to own in-game assets that no one else does, create their own weapons, sell them on to others, and transport them between games.

Adoption of NFTs has been rather slow among mainstream game creators so far, but there’s optimism that this could herald a new era in gaming — just like esports, and the rise of streaming, have given us new ways of consuming content and becoming part of a global community of like-minded individuals.

Major gaming companies are looking to NFTs as a new method for monetization. Veracity says Esports Fight Club provides the use case for its Proof-of-View protocol to become the industry standard for authenticating the chain of ownership and validating it on the blockchain.

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Esports Fight Club gives users the chance to get involved in dozens of tournaments, across some of the world’s best-known games. New features are continually being added to the site, as well as support for new titles such as Valorant, PUBG, CS:GO and Free Fire, with amateurs and pros joining together in friendly or serious tournaments.

Looking ahead, the platform is set to launch its game store with NFTs, weapons and mods later this year.

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Plugin (PLI) Accelerates In Price Following Its Listing on Globiance And Bitrue

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Blockchain technology has the capacity to transform businesses more securely and efficiently. Moreover, the crypto industry is now submerged with billions of users which is achieved only because of blockchain technology. Besides, users prefer decentralized finance rather than the concept of centralization as DeFi does not require central financial intermediaries.

Consequently, the decentralized oracle platform Plugin offers a cost-effective solution to any smart contract that runs on the XinFin ecosystem. The Plugin provides a bridge for the smart contract with a real-time world, besides it supports different use cases. Significantly, the Plugin aims to solve high gas fees and to provide a stable system to its users in the crypto world. 

Listed On Bitrue And Globiance

Bitrue announced its listing of Plugin PLI on its platform after passing the BTRVote. Following its listing on Bitrue, the price value of the Plugin surged over 670% within 24-hours from the time of listing.

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Additionally, the next launch of PLI was on the Globiance exchange platform which was delayed from October 16 to October 20. The CEO of Globiance exchange, Oliver La Rosa, posted a tweet on October 13 regarding the listing of PLI on its platform. Following that, the post mentions that the exchange represents the “XDC Rapid Listing Initiative”.

In this listing partnership celebration, it is recorded that more than 90% of the “XDC Rapid Listing initiative” was already sold out. More so, the available trading pairs on Globiance are XDC, USDG, and GBEX. In addition, La Rosa insists traders buy their native tokens GBEX before October 30 as it is still on public sale. 

However, after the listing announcement from Bitrue, the price value of PLI jumped to its ATH at $2.50. Now, users expect that it may attain a new ATH after its listing on Globiance. At the time of writing, PLI was trading at $0.705 which is 6% down in the past 24-hours with a trading volume of $240,059.

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Mexican Company Launches Blockchain-Powered COVID-19 Test Certificates

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Medical services company MDS Mexico is using blockchain technology to prevent the forgery of fake COVID-19 tests in the Latin American country.

The COVID-19 crisis panic seems to be dissipating after almost two years; however, governments around the world are still searching for tools to control its expansion and allow their citizens to return to normal life.

A Mexican company is using blockchain technology to improve the reliability of COVID-19 diagnostic tests, using cryptography and the real-time auditability of the blockchain as a way to prevent counterfeiting and fraud.

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Fighting COVID-19 With Decentralized Technology

According to a report by Hispanic news outlet iProUP, medical services company MDS launched a rapid test application and interpretation service, as well as home PCR sample collection specifically designed to react to COVID-19. The results are delivered physically and digitally 24 hours later and will be certified with blockchain technology to guarantee in real-time the application of the test and the authenticity of the results.

Representation of a Digital Certificate protected with blockchain tecnhology. Image: MDS
Representation of a Digital Certificate protected with blockchain tecnhology. Image: MDS

As explained on its website, MDS produces a unique hash associated with the results of each test and generates a QR code that links to a digital certificate with personal information of the person who took the test, the results obtained, the physician responsible for administering the test and the date the test was taken.

To avoid the falsification of negative results, we began to certify the SARS-CoV-2 detection tests with blockchain technology and cryptographic signature, which protects the information in a unique, immutable, and unalterable QR Code that can be verified worldwide.

Mexico: Pro-Blockchain, Anti-Bitcoin

Mexico is one of the Latin American countries where the application of blockchain technology has known use cases that transcend the monetary.

As an example, the local Congress of Quintana Roo in Cancun, Mexico, experimented with the implementation of the Avalanche blockchain to digitize the records of the local public administration. The project was successfully implemented in March at the cost of 600,000 Mexican pesos (USD 290,000).

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However, the week the congress decided not to renew the contract on the grounds that the use of blockchain was “overqualified” for the needs of the Legislative Branch, i.e., the costs outweighed the benefits.

Similarly, the National Chamber of Commerce (CANACO) of Querétaro, Mexico, had already announced the availability of a digital vaccination passport issued in alliance with the blockchain company Xertify, which would allow locals to digitize their physical certificates issued by the authorities after a payment of about 400 pesos.

However, when it comes to finance, the use of cryptocurrencies – especially Bitcoin – does not enjoy the same support from the authorities.

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The country’s Central Bank has already stopped an initiative by the president of Banco Azteca to offer Bitcoin compatibility, and acted against 12 cryptocurrency exchanges for being linked to criminal cartels. Even last week, the country’s president even ruled out the use of Bitcoin as legal tender.

So, at least for now, in Mexico, the financial revolution and the blockchain revolution will walk two very distant paths.

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Benefits of Blockchain Technology to Businesses

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The year 2008 saw the introduction of bitcoin (decentralized electronic cash system). Since then, many more cryptocurrencies have been introduced to the market and turned doubters into believers. Those who had misgivings have slowly and surely embraced it as the future and alternative to fiat currency. Indeed, it is correct to say that the blockchain technology has greatly evolved and with it, a whole lot of benefits across industries (from finance to medicine).

Many businesses across different sectors are now looking for ways in which they can integrate the blockchain technology into their infrastructure. Without a doubt, it is correct to say that the future is here. We are firmly in the era of the blockchain technology and cryptocurrencies are slowly providing a paradigm shift to the way we view fiat currency and even transact. That said, how do businesses benefit from the blockchain technology?

If you thought that solutions brought about by blockchain are confined to the exchange of cryptocurrencies, you couldn’t be more wrong. Through its decentralized nature, businesses across various sectors and industries stand to benefit in the following ways.

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1. Increased And Greater Efficiency

As a decentralized digital currency, blockchain has fully done away with the need for middlemen especially when making payments or engaging in transactions of whatever nature be it in the real estate or any other lucrative industry. When you compare blockchain to conventional financial services, there is no denying that it’s faster, instantaneous, and its peer to peer decentralized nature made transactions to be more efficient.

2. Transparency

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If there is something that puts blockchain on a different level, it has to do with the fact that transaction ledgers for public addresses is accessible for viewing by pretty much anyone. This level of transparency and an unprecedented layer of accountability is one of the reasons why blockchain has become very popular with businesses. This greater transparency has in essence held businesses to higher standards and essentially made them to be more open and ascribe to higher levels of integrity in so far as their dealings with customers is concerned.

Source: Pixabay

3. Traceability

The beautiful thing about the blockchain ledger is that every single time there is an exchange of goods or a transaction recorded in the blockchain, there is an audit trail. This audit trail is instrumental in providing an irrefutable proof of ownership or simply to let a person know where goods came from. This improved traceability provided by blockchain is instrumental especially in industries or sectors where verifying authenticity of transactions or traded assets improves efficiency and customer confidence.

4. Security

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Where security is concerned, blockchain is way ahead of other record keeping systems. Why is this the case? Well, every new transaction is not only linked to a previous transaction but also encrypted. There are zero chances of a transaction being altered and this gives individuals a sense of security and trust. The decentralized nature of blockchain also ensures that individuals can transact without having to answer to central governments.

To sum it up, if you are a business in whatever sector, you cannot afford to wish away the key benefits of blockchain outlined in this post. If you are keen on being transparent, efficient, and keen on winning the trust of your customers through secure transactions, blockchain is the way to go. The future that was blockchain is now here with us.

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