TWO(2) ECONOMIC OPPORTUNITIES FOR IKONIC AND WHY YOU SHOULD KNOW THEM

 

The main purpose of IKONIC is to develop an NFT marketplace that provides access to different streams of income to players and fans in esports. IKONIC believes that memories of the spectacular moments in esports are lost and therefore, employed the current technology and revenue models - integration of blockchain and gaming technology- to provide solutions and increase earning opportunities for gamers. 

You may be wondering, what are the economic benefits of IKONIC?. Well, that is the essence of this article. The economic potentials of IKONIC are obvious and lie in two sectors; 

1. Esports and 

2. Blockchain

Each of these has stunning opportunities for IKONIC and both are part of the greater gaming metaverse. IKONIC embraces these trends into a single business to reap the rich, synergistic potential that is embedded in them. 

The Opportunities for IKONIC in Esports 

Recently, esports has been making great economic waves in the sports sector. The current market value of esports is $950million and is speculated to increase by 9% each year until 2023. The competitions are getting competitive, but one problem that has faced the esports space is the loss of those great moments. No doubt revealing those moments would be of importance to esports lovers and investors. 

Retaining the legacy is not new to the sports business, some large markets have been developed for sporting memorabilia and collectibles. The collectibles are valued at $140 billion in annual revenues. An instance is the NBA Top Shot that in a few months has recorded more than $230 million in revenues 

Such legacy is not found in Esports, at least not a blockchain integrated platform for such business. IKONIC is the first to strategise the possibility of this in Esports and has put things in place to attain the success of NBA Top Shot in the esports space. They employ blockchain technology to help professional players multiply their revenues and reach new audiences.

The Opportunities of IKONIC in Blockchain Gaming 

There are numerous online gaming platforms, some with millions of dollars in economic value, that have been existing for a while now. An example is EVE Online, Second Life, and World of Warcraft. However, the challenge with these online platforms is that the economic values of the time played in the games and the trading taking place within their internal markets are limited and restricted and their distinctive spaces. 

Blockchain games are not restricted. The tokenisation feature of blockchain allows users to own in-game currencies and game assets represented as security tokens, and transact with the tokens or exchange them with each other as they wish, which could be physical cash. What this means is that various valuable assets of the game are convertible for financial value outside their native games. 

Another opportunity for IKONIC in blockchain gaming is that the greater value of the business stays in the business because blockchain businesses do not need to share dividends with shareholders. More values will be shared with a larger number of users, such that players can play more to earn more. 

IKONIC is developing a blockchain game that enables marketplaces. Blockchain-based marketplaces present new revenue models that support game developers and innovative games. Also, imaginative creators are encouraged to make exchanges that do not involve third parties. 

Expert analysts have severally predicted blockchain as the future, and IKONIC realised the economic potential in esports. They have enough in place to empower the esports community from this incredible economic diversion.