DigitalBits is Taking on Esports!
Zytara, the digital banking platform and payments network being built on top of DigitalBits, has recently partnered with Dignitas, a prolific esports team formed in 2003. Esports are a global phenomena, attracting hundreds of millions of fans from all corners of the globe, and athletes of equally diverse backgrounds. Esports aren’t faced with the limitations of traditional sports, which has allowed people to come together from all parts of the world with simply an internet connection. However, the very thing that has allowed gaming to become so pervasive, that has led to more than 2.7 billion people worldwide playing games… is also one of its biggest downfalls. The global nature of esports raises a number of logistical issues, especially in the world of payments. Today’s cross-border payments are archaic, they are slow, costly, and within esports, have resulted in players getting paid, weeks, and even months behind. In 2019, 25 players who participated in the Fortnite Australian Open Summer Smash event were short $187 000… 5 months after the fact. This partnership with Dignitas signifies the first of many esports organizations that will be turning to fintech and blockchain solutions to address existing pain points within the industry, and we’re stoked to see DigitalBits as a frontrunner in this movement.
So what does this look like? Zytara and Dignitas are starting things off with some promotional material, in line with Dignitas’ recent rebrand. This first rollout will include specially designed Dignitas debit cards and app skins, followed by collaborative content focused on driving awareness around financial solutions for gamers. Founder Al Burgio has commented on the importance of financial literacy and inclusion, and with the number of gamers worldwide set to breach 3 billion by 2023, gaming may be the most effective way yet to address this. Zytara’s app promises a vast array of banking products and services, including chequing/savings accounts, branded debit cards and access to investment tools. Wrapping powerful blockchain-based technology with well known esports brands provides a natural entry point to one of the hardest demographics to connect with, and may potentially lead to a surge in financial education the worldover.
Going back to payments, Zytara recently announced the launch of its Zytara dollar, ZUSD. Backed 1:1 and fully redeemable, ZUSD looks to provide the gaming world with a standard, borderless asset. Using the DigitalBits blockchain will allow ZUSD to move efficiently between geographically diverse network participants, in a denomination easily understood by an international audience. As Zytara continues to grow, the prevalence of ZUSD will increase, and with it, the utility of the DigitalBits blockchain. Every account using the Zytara application will require… A MINIMUM OF 10 XDB, as well as XDB for transactions and different operations. As Zytara continues to onboard esports organizations, this could result in a huge influx of accounts to the DigitalBits ecosystem — # of accounts x 10 XDB = minimum amount of XDB staked, never again to return to circulating supply. And for those of you that thought the blockchain for brands was out the window, Al Burgio made mention of teams and organizations launching their own branded stablecoins and assets to support their fanbase.
“Specifically for esports teams, the initial teams will be using ZUSD to test market campaigns with their fans. They can then easily jump to their own branded-stablecoin/crypto for their team. Other teams will just copy the results of the first teams… and likely want to jump straight to their own branded-stablecoin/crypto. Either way, we win! Remember…. these are 3–5 yr “exclusive” partnerships! 🙂” — Al Burgio, Zytara Founder & CEO.
Things are heating up for DigitalBits, alongside Zytara gaining increased momentum, XDB Foundation Managing Director Michael Gord stated in a recent community address a plan to begin reaching out to all existing entities within the Stellar ecosystem. This is a huge undertaking, but represents the potential of DigitalBits as a superior solution. With mainnet launch coming in February, 2021 is looking to be a very exciting year for XDB holders! Bacon Out!
