China based Tencent Games which is considered as one of the world’s top gaming company has recently entered into partnership with SLIVER.tv an e-sports entertainment platform that uses blockchain technology to create a 24/7 live e-sports channel that will feature streamers from FaZe Clan, Method, and NRG, in addition to interactive functionality such as prediction games, trivia, and prizes for its viewers. When the gaming behemoth made the announcement on 19.11.2018, it revealed that the channel would be powered by Theta rewards and users can purchase in-game items and upgrades using Theta tokens. In the statement, the company also mentioned that it has introduced Theta rewards to one of its most popular game Ring of Elysium and that players who stream the game on SILVER.tv will have chance to earn Theta tokens as rewards for logging in and watching live contents in the channel.
The statement also revealed that Theta tokens can also be used with SILVER.tv platform to purchase exclusive in-game items, skins or obtain discounts on real-world products from associated sponsors. Theta tokens are produced on the Theta blockchain, which powers a video delivery ecosystem that rewards users with Theta tokens as an incentive for re-streaming video content to nearby users using excess bandwidth on any device. The framework thus leverages on aggregated user bandwidth to provide next-gen video services and reduce costs while increasing engagement and incremental revenues. Speaking about the partnership, Mitch Liu, co-founder and CEO of SLIVER.tv and Theta Labs said:
“Our partnership with Tencent Games will help us continue to drive interactive e-sports by featuring exciting content from Ring of Elysium. Combined with our unique Theta rewards and blockchain technology, users become part of the e-sports experience, driving greater engagement and retention for our partners and games.”
Tencent Games boasts the world’s largest operating revenue for a gaming company due to developing gaming content for hundreds of millions of users across popular platforms with stakes in Epic Games, Supercell, and Riot. In addition to Ring of Elysium, the company has also published the wildly popular League of Legends title in the Chinese market. However this is not first time it has turned to crypto technology as Tencent Holdings Limited, the parent company which is widely known as internet giant famous for social media chatting app We-chat has previously partnered with tax authority of Chinese city of Shenzhen to use blockchain to solve tax evasion problems.