Swedish gaming platform Yamzu has announced an ICO ahead of their implementation of blockchain tech this month.
Identifying the use of smart contracts as something of a game-changer for the esports industry, Yamzu’s Founder Asiad Majeed stated that this is a big step for the future for gamers and gaming companies. He said: “The security offered by smart contracts will anchor the ownership of digital assets. This is not only hugely progressive, but absolutely necessary for both esports and the wider gaming community.”
Since the company’s inception in 2016, Yamzu has grown to a reported 10,000 users playing games such as League Of Legends and CS:GO on the platform. According to Majeed: “Gamers come to us because we are gamers. We understand what the industry needs to change and our entire offer is built around being ahead of the curve.” Yamzu’s free-to-play, free-to-host tournaments have seen gamers join in droves over the past two years, and the company aim to grow this number, along with the amount of games on their platform.
“Our sport is becoming more mainstream and we have to be on the front-foot to protect gamers and make accessibility a priority. This ICO will offer that for both investors and gamers this July.”
As the number of esports players worldwide increases, alongside the awareness of competitive gaming more generally platforms such as Yamzu stand to benefit. We’ve seen a number of ICOs emerge in the esports space in the past two years in something of a concerning trend, though it should be noted that a number of these did not already have a platform nor player base.
The Yamzu ICO will run from Wednesday July 25th, following which they plan to convert their entire platform to a crypto-secured model. To invest in the ICO, you can head to the Yamzu site, and it will be via a Noku wallet, at this point you can choose to invest with Ethereum (ETH) or Fiat currency. Yamzu has also stated that early adopters will receive a 30% bonus as part of the pre-sale.
Esports Insider says: So it’s another ICO in and around the esports space. Yamzu was founded in early 2016 so it hasn’t just arrived on the scene; it’s a tournament platform with both free to play and pay to play options across a number of games. This switch to cryptocurrency and to embracing blockchain technology is a bid to raise funds, and ultimately make the whole process of payments more seamless. We’ll keep tabs on this as it progresses.