GFA Spotlight: Scorefam -Transforming the Football Gaming Industry With the Use of Crypto
Cryptocurrency is indeed a disruptive force, revolutionizing every industry and amassing a large user base in a very short amount of time. While every industry is adapting to the crypto trend, game developers have started to deploy their games on top of blockchains in order to provide the benefits of decentralization to users. Crypto gaming allows gamers to acquire, store, and exchange virtual gaming assets that can be traded on the blockchain using multiple NFT marketplaces.
Scorefam is an online football gaming platform looking to transform the football gaming industry by leveraging its own Crypto token, SFT (Scorefam Token), which users can use to stake on football gaming events as well as for other transactions. By building a decentralized platform where sports fans and blockchain enthusiasts can conduct their online activities and connect with other football fans from across the world while earning SFT, Scorefam is bridging the gap between blockchain and online gaming activities.
Scorefam Token is a cryptocurrency token created on the Scorefam Blockchain to offer new experiences for online sports fans across the world and give them the chance to join a dynamic and active online community.
Simisoluwa Adeyemo and Sofowora Babasola founded the recently rebranded sporting platform in October 2020, and it has since partnered with and worked with notable organizations such as North Equities, DAO Launch, GetFundedAfrica, ChainLink, Enet Pulse, and others.
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GEM Digital Limited, a Bahamas-based investment business focused on emerging markets, provided a capital commitment of $25 million in the most recent partnership. These funds will now be used in different strategic aspects of the company, such as the launch of two additional features, Flexible and Multiflex Gaming, the improvement of the current flagship feature, Locked Gaming, and other projects.
With 41.9 million gamers owning cryptocurrency, the crypto gaming industry generated US $321 million in revenue in 2020. These figures have increased and will continue to increase. The crypto gaming market was valued at $180 billion as of September 2021, making it the fastest-growing entertainment industry in the world.
The future of online gaming is cryptocurrency, and by 2025, the number of online interactions is expected to significantly expand, according to experts.
