Blockchain-Based Product to Position Rivalry Within Fast-Growing Crypto Gambling Segment, Drive Product-Market Fit Among Digitally Native Bettors with Increased Functionality and User Experiences

Rivalry, the leading sportsbook and iGaming operator for Gen Z, revealed Rivalry Token, a native crypto token on the blockchain to add increased functionality, economics, and user experiences across the company’s product suite, continuing Rivalry’s track record of innovation in online betting. The launch of Rivalry Token, anticipated to arrive in H2 2024, represents one of several forthcoming initiatives to position Rivalry in the crypto gambling market and better serve its core audience of 30-and-under bettors.

“Online gambling is the latest web-based consumer category being increasingly disrupted by blockchain technologies with greater speed, access, and functionality than their legacy counterparts,” said Steven Salz, Co-Founder and CEO, Rivalry. “Tech-savvy bettors are leading a behavioral shift towards more experiential and crypto-enabled gambling experiences that are taking wallet share from incumbents at an accelerated rate.”

“Rivalry is well-positioned to access the growth opportunity in crypto with a proven product set, a brand entrenched in internet culture, and a captive audience of digitally native users that are driving this economic renaissance,” Salz added. “The launch of Rivalry Token, alongside a broader expansion into cryptocurrencies, strengthens our product-market fit among an under-30 audience and positions us competitively to capture a meaningful share of this fast-growing segment of the market.”

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Rivalry Token will be integrated within Rivalry’s product suite – from sportsbook to casino and more – with built-in properties to enhance the customer experience from end-to-end. Users can earn tokens through site activity such as betting and referring friends, which can be used on Rivalry to boost odds, participate in jackpots, and more to be detailed in the future. Rivalry Token will also be available on several to-be-announced crypto exchange platforms, trading under $RVLRY.

Rivalry Token creates a new dynamic relationship between player and house where every sports wager and casino spin, win or lose, is rewarded with a decentralized asset that can accrue value alongside player activity on Rivalry. The company expects its token will drive a meaningful increase in player engagement, loyalty, and advocacy by establishing more positive economic alignment and enabling customers to actively participate in product success.

Rivalry has today launched a pre-farming campaign where users can begin accumulating an interim currency through site activity and eventually social media which will be converted into Rivalry Token during the token generation event in H2 2024. Additionally, tokens will be distributed to all Rivalry accounts based on historical activity, rewarding loyal customers and creating a substantial reactivation opportunity for churned users.

Rivalry will also soon be adding greater support for other cryptocurrencies on its platform, allowing users to more easily bet with Bitcoin, Ethereum, Dogecoin, and other major cryptocurrencies. This will enable Rivalry to access a fast-growing audience gambling with crypto that is estimated to account for up to one quarter of global betting handle.

Following the official launch, Rivalry Token will be available for players to use on Rivalry in all of the company’s active markets excluding Ontario and Australia.

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The company will release more information about Rivalry Token throughout the coming months, including commercial partners, token economics, and more.

 JuicyBet, a Web3 startup, announced the launch of its GambleFi platform. This platform combines finance technology and gambling via blockchain to create unique opportunities and experiences for users. The company strives to revolutionize the principles of the online betting industry and the interaction between platforms and users in this market.

What is GambleFi?

GambleFi uses blockchain technology to ensure the fairness and transparency of games and betting outcomes and for players to get their share of the platform’s earnings and participate in its governance and day-to-day by holding its tokens.

How JuicyBet works

JuicyBet fully utilizes blockchain technology to establish a new ecosystem that has never been seen in the gambling industry. It is centered around user participation and transparency while providing gambling thrills and quality entertainment.

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All game records on the platform are kept in a public blockchain, while a set of smart contracts automates gaming outcomes and payouts and provides for the platform governance via the DAO model. This reduces fraud risks and operational costs, making JuicyBet a more efficient platform.

However, the platform’s main feature is the unprecedented level of user engagement via the platform’s native tokens.

• First, the tokens provide access to betting.
• Second, token holders get their share of the platform’s profit.
• Third, token holders can vote on key decisions on the platform’s development in JuicyBet DAO.
• And finally, DAO participants can also perform the role of oracles for bets and earn rewards.

In other words, JuicyBet doesn’t try to be just another gambling platform. It establishes a new ecosystem where users are in control of the platform and bets and are the beneficiaries of the platform.

In addition, JuicyBet offers additional earning opportunities, such as Double Farming and staking for token holders.

JuicyBet has already been noticed by users and investors – the platform’s 3-month turnover has exceeded $1,5 million, according to on-chain data available via Dune, and multiple centralized exchanges and launchpads have listed it.

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Game of Silks, the first metaverse that mirrors the real world of thoroughbred horse racing, has added Ron Luniewski, a sports, gaming, and entertainment veteran with a proven track record of success and growth, to its executive suite.

Luniewski joins Silks from the gaming world where he established a reputation as a builder, leveraging emerging technology to initiate hyper growth for companies and lead them successfully through massive expansion. Prior to joining the Silks team, Luniewski transformed Xpressbet from a small regional phone operation with 15 employees to a multi-platform juggernaut generating more than $300M in annual revenue and growing the team up to 150 employees by the end of his tenure. Before that, Luniewski was a pioneer in expanding access to horse racing early on, leading the first ever legal online horse gambling website, YouBet.com, as Chief Executive Officer from 1996 to 2002, kickstarting what is now a $7 Billion enterprise.

“Throughout my career, I have looked for ways to employ innovative technology to grow the sport of horse racing, so I was immediately inspired when I came across Game of Silks. Silks is a revolutionary platform that can fundamentally change horse racing by giving a whole new class of fan the ability to participate in this sport. Major players in racing, like the New York Racing Association (NYRA), have already hitched their wagon to Game of Silks, having seen its potential. We’re excited to establish additional partnerships with the racing community as we advance,” said Luniewski.

Despite the current bear market, the Silks executive team continues to expand to meet demand. Game of Silks, the fasting growing metaverse sports game in the space, added Srini Vasan, former DraftKings Vice President of Engineering, in April as the platform’s Chief Technology Officer. Additionally, Silks has secured landmark partnerships and agreements with horseracing titans NYRA, Fox Sports and The Jockey Club while also distributing record-breaking payouts to owners of Silks Horses.

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“With the first Game of Silks racing season in full swing, our business is looking to scale rapidly to new users and showcase what’s possible when you marry the timeless tradition of horse racing with blockchain technology. Ron’s experience growing successful companies from start-up status to IPO, adapting and implementing new technology, and his deep industry connections to the global horse racing community are invaluable in any market,” Dan Nissanoff, CEO and co-founder of Silks, said.