ESPN Global has announced the launch of a blockchain-powered gaming platform, which will allow competitors to deposit and withdraw using bitcoin and other cryptocurrencies through Cryptopay.

The platform is also integrating an online treasure hunt, Satoshis Treasure, with $1 million worth of bitcoin to be split among 1000 winners.

In a June 23 statement, the UK-based company, which is not affiliated with ESPN in the US, said it is in the pre-launch phase of a platform that will offer some of the most popular games in one mobile application for crypto prizes. Blockchain technology will decentralize verification and support for transactions inside the platform.

Cryptocurrency payment specialist Cryptopay is being used by ESPN Global, to make the process a lot simpler, swift and secure, the company announced. Users can choose a game or join a group of participants to compete in real-time and be awarded on the basis of highest score.

The platform also offers premium membership whereby one gets priority access to slots and early access to the most popular games. The mobile e-sports unit in UK falls under ESPN Global Corporation Ltd. which is headquartered in Poland.

An ESPN Global director, Mr. Chris Parker, spoke on the attraction of blockchain. As per a research done by 3EA Limited, a global strategic management consulting group, e-sports and online gaming is a $140 billion global industry driven predominantly by digital micro-transaction economies, which we believe will benefit immensely from the integrity and resilience of the Blockchain technology, he said.

The company is also integrating the recently launched game Satoshis Treasure. With this $1 million puzzle game Satoshis Treasure, we are promising a bounty-laden bitcoin wallet whose keys will be divided into 1,000 fragments, spawning a global hunt for the prize pieces, said Parker.

In the event of amassing a sizeable e-sport community, ESPN Global expects to launch an initial exchange offering of its Smart Gaming Token (SGT) based on the ERC-20 platform.

From the day we start our operations, we will be giving airdrops of SGTs to all registered players as a gift, Parker said. He added that all players who lose money in any game or tournament will be compensated with SGT airdrops equivalent to the losses credited to their ERC wallets.

The current valuation of SGT airdrop is $0.001, expected to increase with the growth of the gaming community. Premium members, who get double SGTs against the amount of super-contest, will also have their losses covered.

What do you think about ESPNs new bitcoin online gaming? Let us know in the comments section below.

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ESPN Announces Online Gaming That Allows Bitcoin Deposits and Withdrawals - Bitcoin News