Users can stream or watch any HyperchainX game on the HyperchainX App. HyperchainX claims streamers will soon be able to monetize their content and receive HyperchainX (HYPER).

HyperChainX (HYPER) is a blockchain platform and cryptocurrency designed to cash in on esports.

They claim the HyperChainX platform can support buy-in tournaments, high stakes battles, leagues, live streams, and a nonfungible token (NFT) marketplace.

HYPER is the community token for the HyperChainX platform. Players can earn HYPER in tournaments, one-on-one battles, and in by playing crypto games.

They claim players can create NFTs from Epic Games on HyperChainX. In addition, people could use HYPER to purchase digital art on HyperChainX. HyperchainX hopes to collaborate with esporters, influencers, and other celebrities to create marketable artworks.

HyperChainX and Esports

HyperChainX esports will include high stakes battles, tournaments, and mobile games. They claim the mobile games are fully compatible with the HyperChainX platform.

Users can stream or watch any HyperchainX game on the HyperchainX App. HyperchainX claims streamers will soon be able to monetize their content and receive HyperchainX (HYPER).

The HypeChainX platform will make money from a 1% redistribution fee, a 4% buyback fee, and a 6% market fee they will charge on all HyperchainX transactions.

The HyperChainX platform is currently under development. They hope to hold the beta launch of the HyperChainX platform with limited tournament functionalities in the first quarter of 2022. Currently, they are trying to market HyperChainX with such efforts as NFT collaborations, merchandise, and a HyperChainX song.

HyperChainX and Ethereum

HyperChainX Game Design and Prototyping and NFT Marketplace are ongoing. Additionally, the HyperChainX mobile app V2 is under development. They are building an Ethereum Bridge to make HyperchainX compatible with ERC20 tokens and the Ethereum (ETH) blockchain.

 An Ethereum Bridge could allow developers to add Ethereum smart contracts and assets to HyperChainX. For example, an Ethereum bridge could allow HyperChainX games, livestreams, or the NFT marketplace to accept fiat currency payment through stablecoins such as the Dai (DAI). The Dai contains a smart contract that makes US dollar payments from a trust account when you spend it.

Another use for an Ethereum bridge could be to purchase or sell NFTs built on other Ethereum platforms through HyperChainX. Thus, you could livestream tournaments of other Ethereum games on HyperChainX and purchase NFTs from the players.

Can You Make Money from Esports?

Esports is a growing business. Notably, Insider Intelligence estimates there will be 26.6 million esports viewers in the United States in 2021.

Insider Intelligence claims that number grew from 21.1 million in 2019 and 23.9 million in 2020. Moreover, Insider Intelligence projects the number of US esports viewers will grow to 29.6 million in 2022 and 31.4 million in 2023. Insider Intelligence claims US esports viewership could grow by 49.9% in 2022 and 51.9% in 2023.

Worldwide esports revenues fell from $957.5 million in 2019 to $947.1 million in 2020, Statista estimates. I imagine esports revenues fell because of the COVID-19 pandemic. Statista estimates global esports revenues will grow to $1.084 billion in 2021 and $1.618 billion in 2024.

Therefore, the data shows esports is a small market but a growing market. Hence, the amount of money that HyperChainX could generate is small but growing.

What Value Does HyperchainX have?

Mr. Market thinks HyperchainX (HYPER) has some value. CoinMarketCap listed HYPER as the fourth most trending cryptocurrency on 19 October 2021.

 

Conversely, CoinMarketCap ranked HyperChainX (HYPER) as the 3811th most trending cryptocurrency on 22 October 2021. CoinMarketCap gave HYPER a Coin Price of $0.000008078, a Fully Diluted Market Cap of $8.078 million, and a 24-Hour Market Volume of $154,843 on 22 October 2021. They base those numbers on a Maximum Supply of one billion HYPER and a Total Supply of one billion Hyper.

 

However, HyperChainX claims it has some impressive corporate partners. The HyperChainX website lists those partners as Alphabet (NASDAQ: GOOGL), Samsung, Verizon (VZ), JPMorgan Chase (JPM), Nintendo, and Warner streaming service HBO. However, those companies’ roles at HyperChainX are unclear.

I consider HyperChainX (HYPER) a cryptocurrency to watch because it could show if esports are a viable business. However, I don’t think HyperChainX will make much money because I do not think esports will find a mass audience. Hence, there could never be a mass market for HyperChainX and its products.

Originally published at https://marketmadhouse.com on October 21, 2021.

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The HypeChainX platform will make money from a 1% redistribution fee, a 4% buyback fee, and a 6% market fee they will charge on all HyperchainX transactions.
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