CSGO News | $100,000 Tournament Prizepool to Be Payed in Cryptocurrency?
According to HLTV, streaming platform Play2Live will host a tournament in Belarus at the end of the month with $100,000 up for grabs.
The announcement of such a large prize pool by an unknown tournament organizer is enough to turn heads on its own, but it's been revealed that the prizes will be paid out in the company's proprietary cryptocurrency, Level Up Coin (LUC).
HLTV reports that LUC can be used for betting on the company's streaming platform or can be "converted to fiat...or a variety of other cryptocurrencies."
While the use of blockchain techonology in esports would otherwise be a promising development, initial research shows that LUC is still in pre-sale, raising questions as to how Play2Live plans to guarantee $100,000 in prizes paid through a coin that currently doesn't have any value.
I think they'll value it at 0,05 USD (it's the ico price) and give the teams a few millions of LUC. They have enough of them :D (about 1.3 billion i think).
It's gonna be interesting. I like their idea. But let's see how it works out with the blockchain technology.
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