Simracing eSports meets Crypto and Blockchain technology
Simracer Coin is bridging the gap between competitive simracing and blockchain. Building on Ethereum, our decentralised marketplace will allow anyone to sell and purchase simracing assets such as car modification setup files, car paints and skins and also services such as online coaching from expert drivers. By putting these digital assets on the blockchain, they will be transformed into tradable crypto assets with increased liquidity and ease of exchange. We aim to develop our platform as the backbone of the microtransactions involved in the simracing ecosystem driven by adoption from drivers, leagues and fans.
The first step was the creation of our own crypto token, Simracer Coin (SRC). By building partnerships with existent leagues, we want to offer our token as a prize to the winners and drive crypto adoption among the simracing community.
Our next major goal is to add a strategic element to league racing where participants can own the cars and its parts, each represented by tradable crypto assets, deal with damage costs and realistically manage an eSports racing team.
At a second stage, we also aim to allow spectators to bet on simracing events further increasing adoption and interest in simracing and in our platform.
We are building our platform to be used by professional and amateur drivers, racing coaches and last but not least, eSports teams and leagues.
Big picture: the gaming/eSports market
The video game market has been steadily growing gaining more and more users. In 2015, the global video games market was worth approximately 71 billion U.S. dollars. By the end of 2020 its value is expected to exceed 90 billion U.S. dollars. At the same time, the number of total users has also been increasing, expected to surpass 1.5 billion people in 2020. Most people have heard of the phenomenal popularity of games such as Fortnight and League of Legends. At the same time, eSports have also grown to previously unimaginable popularity with the total eSports market reaching almost 500 million spectators and fans.
Virtual Motorsports, a fast growing eSport
While previously not ranked among the most popular game categories, Virtual Motorsports also known as Simracing, has been experiencing a tremendous boom in 2020. Simracing is short for “simulation racing”. Simracing refers to racing in a virtual environment, with realistic physics affecting the car. Simracing differs from racing video games which are made so that they are easy for novice drivers, Simracing software accurately mimics the various physics effects involved in real racing and also the effects of car adjustments such as tire pressures, traction, suspension spring rates etc.
While all other live televised sports were shut down due to the Covid-19 crisis, Simracing broke new ground as on March 22 , NASCAR held the first ever eNASCAR iRacing Pro Invitational Series race, putting actual NASCAR drivers into simulators for a virtual competition that aired live on FOX Sports. This was the most watched linear eSports broadcast in history, with a total of 1.6 million unique viewers tuning in.
This speaks about the potential of Simracing to engage audiences and create new possibilities for software providers, teams and leagues. It is in this light that the Simracer Coin project comes in order to act as the meeting point between the booming Simracing scene and the blockchain world.
Project’s current phase
After successfully deploying our token in the Ethereum blockchain, at this stage we are in the process of raising seed capital and we expect to do an IEO (Initial Exchange Offering) in a major exchange in the coming months. In order to keep up to date with the development of our project follow us in our social media.