BREAKING Tezos Partners with Team Vitality for E-Sports Gaming

Tezos is priming itself to become a center-stage leader in crypto gaming with its latest e-sports partnership with Team Vitality.

Covered:

Tezos Positioning Itself To Dominate Crypto Gaming
XTZ Price Action Update

Blockchain gaming has been one of the hottest sectors in the crypto space since the bull run kicked off in 2020. Play-to-earn giants like Axie Infinity and Gala Games stole the show in 2021, putting up some of the highest percentage gains against its competition. While the run-ups were historic and seemingly never-ending, these projects are just mere glimpses into the possibilities that gaming cryptocurrencies can bring about.

RECOMMENDED: TEZOS TO HOST LARGEST BLOCKCHAIN HACKATHON IN EASTERN EUROPE

Tezos Positioning Itself To Dominate Crypto Gaming

Tezos (XTZ) is one of the few smart contract platforms out there that’s heavily focused on positioning itself for the impending renaissance in mainstream gaming. Today, the blockchain announced that it will be partnering with Team Vitality, one of Europe’s leading e-sports gaming teams, to support the Vitality fan base.

@TeamVitality reveals @Tezos as its Main Technical Partner!#Tezos #BlockchainEvolved #VForVictory #WatchUsFollowUs pic.twitter.com/zSqiGRnYqP

— Tezos (@tezos) January 6, 2022

Spanning throughout 2022-2024, this partnership will give the Vitality community unprecedented access to their favorite teams, and reward them for their support. Team Vitality will collaborate with Tezos to focus on blockchain education as it relates to gaming.

Esports and gaming fans are already some of the most tech-savvy and engaged communities. Using Tezos, Team Vitality will highlight the huge benefits of blockchain technology; highlighting the importance of developing and using the burgeoning tech responsibly to create an engaging fan-centric experience.

And it seems education is very much needed — when Ubisoft became the first AAA gaming enterprise to announce an NFT release with Tezos, die-hard Ubisoft fans did not receive the news well, as was made clear by the response to the NFT release. Here’s one of my favorites:

Because of my personal view of NFTs and not because of the environmemt entirely, I will now proceed to uninstall anything related to you right now and cease further purchases of your games.

That is all. For people that dislike Current Ubi's marketing, just stop buying.

— Skyeeeely – Lazy VStreamer Cat ?? (@Sukaaaily) December 7, 2021

RECOMMENDED: RED BULL RACING ANNOUNCES NFT RELEASE ON TEZOS

XTZ Price Action Update

Despite the FUD (fear, uncertainty, doubt) being spewed by those who ironically stand to benefit the greatest from blockchain technology, the XTZ price has been pushing upwards and onwards as it prepares for more mainstream adoption from gamers.

At the time of writing, XTZ is trading at $4.42.

One thing I like about the XTZ weekly chart is the cyclical nature of it. Since the beginning of 2019, Tezos has been grinding up steadily through this parallel channel. Each tap of the upper bound (purple) is accompanied by a spike up into the overbought region of the relative strength index (RSI), while each trough (yellow) corresponds with a similar low of around 43 on the RSI. Despite the RSI bouncing between these two levels, the price has been rising with every bounce, as indicated by the series of higher highs and higher lows.

If the bull run is coming to an end, it’d be best to keep close tabs on this lower-bound support line; a clean breakdown below could spell out a bloody future for XTZ. But if Bitcoin keeps the crypto markets afloat, I think XTZ has a lot in store to send the token flying higher.

Coincidentally, the next tap of the upper bound region seems to line up nicely with XTZ’s all-time high price of $12. With all the work being done behind the scenes to bring Tezos into the forefront of blockchain gaming, I’d expect XTZ to revisit those highs in the coming months assuming the team can deliver on all the work being promised today.