cryptocurrencies such as ETH, MATIC, <strong>DAI</strong>, USDC, and others are handled instantly thanks to the underlying <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain network</strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</strong></a> technology.</p>\n<p>Automated player payouts are a <strong>great solution for the gaming industry</strong>, especially for the e-sport community, which is one of the fastest-growing communities that exceed billions of dollars in revenue. E-sports competitions attract large sponsorships from <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Venture_capital/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong><strong>VC firms</strong></strong></a>, <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Fortune_500/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Fortune 500 organizations</strong></a>, and major media networks due to their increasing demands and expanding audience globally.</p>\n<p>However, e-sports tournament organizers are known to hold off on paying players for weeks or even months. It's understandable to some extent, given that organizers must personally distribute rewards to all winners.&nbsp;</p>\n<p>Traditional transaction models such as <strong>wire transfers</strong>, ACH transfers, paper checks, and so forth are used by the majority of organizers. These approaches are costly, reliant <strong>on human resources</strong>, and painfully slow, resulting in payment delays.</p>\n<p>Player payouts come to the rescue in this case. Tournament organizers can automate the process of distributing rewards and transferring them immediately to the winner's <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">crypto wallet</strong></a> by using <strong>smart contracts</strong> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-exchange-dex/">decentralized exchanges (DEXs)</strong></a>.&nbsp;</p>\n<p>Not only does this allows both parties to avoid paying excessive <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-transaction-fee/">transaction fees</strong></a> to banking institutions, but it also encourages more organizers and players to join the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-play-to-earn-play2earn/">Play2Earn gaming revolution</strong></a>.</p>\n<h2>How Do Player Payouts Work?</h2>\n<p>If we&rsquo;re talking about the e-sports industry, each tournament contains a <strong>prize pool of money </strong>that is divided among a limited number of winners. Organizers can tailor and control payments based on each player's performance in the competition using smart contracts stored on a blockchain network. In addition, smart contracts make a tournament's structure and payout schedule more transparent.</p>\n<p>Smart contracts are <strong>electronic contracts that perform transactions automatically based on pre-defined parameters</strong>. Consider the following scenario to see how an <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum-based smart contract for an e-sports tournament functions. <em>Note that tournament contracts deployed on the Polygon network, or any other smart contract ecosystem, would go through the same procedure.</em></p>\n<p>The Ethereum blockchain is powered by a network of computers (known as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-node/">nodes) that constantly <strong>confirm and log all network transactions</strong>. The payout distribution is pre-configured by tournament organizers, who choose how many participants will be paid out and what percentage of the contract funds each place will receive. The Ethereum blockchain is then used to deploy the tournament smart contract.</p>\n<p>The prize pool is usually made up of player entry fees and/or sponsor donations that are sent in and held in escrow while the tournament is taking place. The organizers only need <strong>a little amount of ETH to start the smart contract-powered player payout</strong> procedure after the tournament is finished.</p>\n<p>The defined transactions are processed and documented on the underlying blockchain as the players achieve the ranking conditions. Since there is no third party involved, tournament winners get paid almost promptly and for a small fee.</p>","level":"medium","meta_title":"What is Player Payout? 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Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":598,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Pre-IDO?","slug":"what-is-pre-ido","section":"P","keyword":"Pre-IDO","status":"published","definition":"token offering that happens before the initial dex offering (IDO) takes place.","content":"<p>Token offerings that take place before the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-dex-offering-ido/">initial dex offering (IDO)</strong></a> are referred to as pre-IDO. It's a unique concept that allows <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">DeFi users to learn about new and upcoming <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency initiatives. Though a pre-IDO also allows DeFi projects to expand their fundraising capacity regardless of market fluctuations.</p>\n<p>While IDOs are one option to collect cash for a project, the price of the tokens is heavily influenced by market conditions. Developers can <strong>raise funding via a pre-IDO regardless of market instability</strong>.&nbsp;</p>\n<p>The tokens supplied in pre-IDOs are future unlocked tokens, which means that all tokens have a lockup time set before the pre-launch of IDO. When the lockup period finishes, each token is unlocked.</p>\n<p><strong>Pre-IDO</strong>, in comparison to IDO, provides more democratized investor access and higher pricing advantage. Besides, there is a lockup period, and investors gain immediate <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-liquidity/">liquidity after the stock is listed.</p>\n<h3>Advantages of Pre-IDOs</h3>\n<p>Through a pre-IDO, <strong>individual investors can invest and buy project tokens at a private investor rate</strong>. That&rsquo;s because they are exposed to VC-style funding events that are usually available only to VC firms and institutional investors that have millions of dollars. A regular user in a VC-style funding event enjoys a price advantage and a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-first-mover-advantage-fma/">first-mover advantage</strong></a> over those who buy tokens during the public IDO.</p>\n<p>The concept of pre-IDO is also <strong>beneficial to developers</strong>. Hosting a pre-IDO allows projects to obtain funding and expand their capacity. Besides, pre-IDO enables developers to get sufficient financing for their projects regardless of market fluctuations. This allows them to concentrate entirely on product development.</p>","level":"easy","meta_title":"What is Pre-IDO? Definition & Meaning | Crypto Wiki","meta_description":"Pre-IDO meaning: Pre-IDO - token offering that happens before the initial dex offering (IDO) takes place.","meta_keywords":null,"language":"en","created_at":"2022-03-25T08:51:03.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-pre-ido"},"prevSection":{"id":596,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Peg?","slug":"what-is-peg","section":"P","keyword":"Peg","status":"published","definition":"a specified price used to determine the exchange rate between two assets; in crypto – a fixed asset price tied to a token.","content":"<p>In traditional markets, a peg is the specified price that traders use to set the exchange rate between two assets. A peg is often used to determine the fixed exchange rate for trading two foreign currencies.</p>\n<p>The opposite of peg is floating, which refers to currencies that do not have a hard price target and follow monetary policies with more lenience.</p>\n<p>Peg can be used as both an economic and political tool as it <strong>encourages trade relationships between different nations</strong> and helps stabilize macroeconomic activities.</p>\n<p>In crypto, a peg is the fixed price that a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency token tries to maintain. Pegged tokens are known as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-stablecoin/">stablecoins. Usually, the value of crypto assets is pegged to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat currency</strong></strong></a>.</p>\n<p>Stablecoins like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-tether-usdt/">Tether (USDT)</strong></a>, USD Coin (USDC), DAI, and FRAX are pegged to the value of $1 per coin. The value of the <strong>dollar</strong> is considered to be <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-soft-peg/">soft-pegged to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-consumer-price-index-cpi/">consumer price index (CPI)</strong></a>.</p>\n<p>The pegged value of a stablecoin is maintained by contracting or diluting its total supply. Stablecoin can be <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-minting/">minted or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-burning/">burned until it reaches the value of the desired peg. The minted tokens are collaterally backed.</p>\n<p>The value of algorithmic stablecoins is maintained automatically by employing <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a> to reduce or increase the supply of the tokens as needed.</p>","level":"easy","meta_title":"What is Peg? Definition & Meaning | Crypto Wiki","meta_description":"Peg meaning: Peg - a specified price used to determine the exchange rate between two assets; in crypto – a fixed asset price tied to a token.","meta_keywords":null,"language":"en","created_at":"2022-03-25T07:24:05.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-peg"},"currentChapter":"P","currentSection":"what-is-player-payout","chapterTitle":"P","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-player-payout","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter P

What is Player Payout?

Player Payout MEANING:
Player Payout - an automated method for immediately paying online gaming players after a tournament is over.
Medium
2 minutes

Let's find out Player Payout meaning, definition in crypto, what is Player Payout, and all other detailed facts.

Player payout is a new automatic method for compensating online gaming players immediately after a tournament ends. All payments made with cryptocurrencies such as ETH, MATIC, DAI, USDC, and others are handled instantly thanks to the underlying blockchain network and smart contract technology.

Automated player payouts are a great solution for the gaming industry, especially for the e-sport community, which is one of the fastest-growing communities that exceed billions of dollars in revenue. E-sports competitions attract large sponsorships from VC firms, Fortune 500 organizations, and major media networks due to their increasing demands and expanding audience globally.

However, e-sports tournament organizers are known to hold off on paying players for weeks or even months. It's understandable to some extent, given that organizers must personally distribute rewards to all winners. 

Traditional transaction models such as wire transfers, ACH transfers, paper checks, and so forth are used by the majority of organizers. These approaches are costly, reliant on human resources, and painfully slow, resulting in payment delays.

Player payouts come to the rescue in this case. Tournament organizers can automate the process of distributing rewards and transferring them immediately to the winner's crypto wallet by using smart contracts and decentralized exchanges (DEXs). 

Not only does this allows both parties to avoid paying excessive transaction fees to banking institutions, but it also encourages more organizers and players to join the Play2Earn gaming revolution.

How Do Player Payouts Work?

If we’re talking about the e-sports industry, each tournament contains a prize pool of money that is divided among a limited number of winners. Organizers can tailor and control payments based on each player's performance in the competition using smart contracts stored on a blockchain network. In addition, smart contracts make a tournament's structure and payout schedule more transparent.

Smart contracts are electronic contracts that perform transactions automatically based on pre-defined parameters. Consider the following scenario to see how an Ethereum-based smart contract for an e-sports tournament functions. Note that tournament contracts deployed on the Polygon network, or any other smart contract ecosystem, would go through the same procedure.

The Ethereum blockchain is powered by a network of computers (known as nodes) that constantly confirm and log all network transactions. The payout distribution is pre-configured by tournament organizers, who choose how many participants will be paid out and what percentage of the contract funds each place will receive. The Ethereum blockchain is then used to deploy the tournament smart contract.

The prize pool is usually made up of player entry fees and/or sponsor donations that are sent in and held in escrow while the tournament is taking place. The organizers only need a little amount of ETH to start the smart contract-powered player payout procedure after the tournament is finished.

The defined transactions are processed and documented on the underlying blockchain as the players achieve the ranking conditions. Since there is no third party involved, tournament winners get paid almost promptly and for a small fee.
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