Moxy.io (MOXY) has been making waves in the gaming industry as the first company to offer on-demand eSports to all gamers, regardless of their skill level. What makes Moxy stand out is its use of blockchain technology to power its platform, providing a transparent and secure environment for players.
Thanks to the unfortunate collapse of several regional banks, people are flocking to crypto and blockchain-based assets as a means to secure liquidity for their businesses and as investments. For example, Gamestop Corp. has seen a recent surge in volume on the platform, with some assets volume growing over 20,000%. In the startups market, retail investors have invested over $900,000 in Gameflip for their digital asset and NFT marketplace.
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Moxy eSports
Its goal is to make the fast-growing and lucrative industry of competitive eSports accessible to everyday gamers. While this industry has been mainly reserved for elite gamers competing at invite-only events, Moxy wants to change that. With Moxy, game developers can design a version of their game specifically for eSports, and gamers have access to an all-in-one destination where they can purchase these enhanced versions and play them.
The platform revolves around a global gaming token that players can use in competitive gameplay. This token, called $MOXY, can be earned by competing in eSports tournaments and can then be used to purchase items or enter more tournaments. It is designed to provide an easy and accessible way for players to engage in competitive gaming and earn rewards for their skills.
The Beta Challenge
Moxy's focus on democratizing eSports is evident in its recently launched Open Beta Challenge, "eSports for ALL." This community campaign allows players from all over the world to compete in a variety of tournaments, with a total prize pool of $100,000 in $MOXY tokens. The goal of this challenge is to demonstrate the potential of on-demand eSports and to further promote the democratization of gaming.
The Beta Challenge will see gamers compete against each other over four seasons (lasting 7-14 days), with those at the top of the Moxy leaderboard at the end of the fourth season receiving the coveted prizes, including cash (in USDC), Moxy’s native tokens and Moxy collectibles. Although the total pot for cash prizes is $100,000, the value of each prize level will not be revealed until the official launch of the Moxy platform. The cash prizes do not include the Moxy tokens and collectibles.
To participate in the Beta Challenge, interested players sign up, create a Moxy account, complete KYC and receive 1,000 MOXY testnet tokens. Players face off against like-minded eSports fans, with an opportunity to gain an additional 50 MOXY tokens for every referred player who finishes the signup and KYC processes.
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eSports Impact on Gaming
In 2020, many people had their first experience with eSports because of the pandemic's impact on traditional sports. From virtual Formula One races to Premier League stars competing on FIFA, competitive gaming has become more popular than ever before. eSports is no longer a niche activity but a global phenomenon with a growing fan base. It’s completely transformed the gaming industry.
Over 240 colleges now have varsity eSports programs and tournaments that offer millions of dollars in prize money. Even big-name investors like Jerry Jones and Sean Combs have shown interest in esports teams.
According to Technavio's analysis, the eSports industry will continue to expand and reach a value of $3.5 billion between 2022-2027. Moxy is ready to be at the forefront of this growth.
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