The next big crypto market could be fantasy sports, says Messari

The next big crypto market could be fantasy sports, says Messari

As “digitally native” ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari. 

In a newly published report, researcher Mason Nystrom argues that fantasy sports are primed for significant growth due to COVID-19. He also opined that blockchain-based applications could help boost fan engagement in this rapidly expanding market. Nystrom explained:

“While the peak culmination of esports and cryptonetworks waits for improvements in emerging technology and 5G connectivity, blockchain-based fantasy sports are poised for consumer adoption.”

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Citing PwC research, Nystrom said betting and fantasy sports are expected to grow 7.2% over the next 3 to 5 years. This may bode well for the segment, as 75% of traditional sports betters also played fantasy sports according to a study from 2018.

Unlike traditional sports betting, where participants bet on the outcome of a game, wagering on fantasy sports is when you assemble a fantasy team

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