Connect with us
SIS

Cryptocurrency

$1 billion in TRON cryptocurrency gambled in Q1 2019

George Miller

Published

on

$1 billion in TRON cryptocurrency gambled in Q1 2019
Reading Time: < 1 minute

 

More than $1 billion worth of the TRON cryptocurrency was gambled during the first three months of the year, according to research conducted by CryptoGamblingNews.com.

The surge in betting volumes in the cryptocurrency has come on the back of the launch of tens of decentralised casinos that use the TRON blockchain.

These casinos utilise smart contracts, automating the entire user journey from the wallet to the gameplay, in a way that guarantees the integrity of the games and the user’s funds.

Many of the most popular TRON casinos also automatically redistribute a share of casino revenues to users, based upon how much they have played.

TRON-based casinos have processed wagers of more than $80m in the last seven days, with the most successful, TRONbet.io, reporting volumes of 1.5 billion TRX ($43.5m) over the period, according to data from DappRadar.

Meanwhile CoinDesk reported data from Dapp Review, showing that TRON-based decentralised applications (DApps) generated Q1 2019 turnover of $1.6 billion from more than 432,000 users, adding that 64 percent of DApps on the TRON blockchain are gambling related.

TRON was founded in 2017 but moved to its own blockchain in June 2018, and enjoys a particularly strong following in China. The cryptocurrency has a total market capitalisation of around $1.9 billion.

A spokesperson for CryptoGamblingNews.com said: “The appetite for TRON-based gaming has grown exponentially in a very short space of time. It is remarkable to see decentralised casinos generating turnovers that can compete with far more established, fiat currency competitors.

“However, we are still in the very early stages of TRON development. The casinos that have launched so far offer a relatively limited range of games. If the user experience can be improved, I would expect these volumes to increase by several multiples.”

 

Cryptocurrency

Kronoverse to Forge New Paths in the esports Industry Through Partnership with ESL

George Miller

Published

on

Kronoverse to Forge New Paths in the esports Industry Through Partnership with ESL
Reading Time: 2 minutes

 

Kronoverse Inc., today announced a partnership with the world’s largest esports company, ESL, to develop and scale Kronoverse’s upcoming CryptoFights game and the entire Kronoverse gaming platform.

“ESL knows what it takes to succeed in the ever-growing esports industry as the oldest and most successful esports company in the world,” says Adam Kling, CEO and founder of Kronoverse. “We’re confident our partnership with ESL will enable us to fully develop the Kronoverse platform. This includes everything from attracting more indie game developers to solving problems in competitive gaming such as cheating.”

ESL will serve as a strategic partner and facilitator in Kronoverse’s growth. Kronoverse was created by Kling when he recognized the power of the blockchain and how it can be used in gaming to solve problems in the gaming industry. Kronoverse seeks to elevate the esports industry through native cash tournaments, better game integrity, true item ownership, more game choices, and transparent network analytics.

As a gaming platform, Kronoverse will benefit greatly from ESL’s history of providing the best experiences for competitive players. ESL understands what it takes to put on the greatest competitions for esports athletes like hosting ESL One Cologne, the most successful CS:GO tournament in the world.

Kronoverse’s partnership with ESL opens up a new world of possibilities to forge new frontiers in the wild west of esports. This is possible thanks to ESL’s experience and dedication to competitive gaming for nearly two decades. As exemplified by building VR esports from the ground up, ESL has proven its ability to evolve with new technologies while consistently providing the best esports stages and competitions for gamers.

“We’re excited to move forward with ESL because we share the vision of creating opportunities for progression and participation in the esports industry,” said Kling of Kronoverse’s development partnership with ESL.

 

About Kronoverse

Founded in 2018, the Kronoverse platform is creating a new world of competitive gaming by combining blockchain technology with online gaming. Built on Bitcoin SV, Kronoverse is a monetization & technology platform that helps game developers thrive in the fast-growing esports industry. Kronoverse is developing unique solutions for the esports industry related to game integrity, permanent match playback, player audit trails, and player screening to create a new form of competition that makes esports more accessible for gamers around the world. In January 2020, Kronoverse completed its second round of beta testing for its first game CryptoFights, a skill-based strategy fighting game.

About ESL

ESL is the world’s largest esports company. Founded in 2000, ESL has been shaping the industry across the most popular video games with numerous online and offline esports competitions. The company operates high profile, branded international leagues and tournaments under the ESL Pro Tour including ESL One, Intel® Extreme Masters, ESL Pro League, and other premier stadium-size tournaments, to more clearly define the path from zero to hero. ESL also produces the ESL National Championships, grassroots amateur cups, and matchmaking systems, creating a world where everybody can be somebody. With offices all over the world, ESL is leading esports innovation on a global scale through the combination of global ESL competitions, amateur leagues, publisher activations, and more. ESL is a part of MTG, the leading international digital entertainment group. about.eslgaming.com

 

SOURCE Kronoverse

Continue Reading

Cryptocurrency

Greentube acquires majority of outstanding CashBet Coin

George Miller

Published

on

Greentube acquires majority of outstanding CashBet Coin
Reading Time: < 1 minute

 

Greentube, the NOVOMATIC Interactive division, has completed the acquisition of the majority of CashBet Coin’s CBC cryptocurrency and its underlying blockchain technologies.

The acquisition enables Greentube to enhance the use of cryptocurrency throughout its social gaming portfolio and follows the successful trial integration of CBC with its flagship brand GameTwist last year. The social casino, which is one of the world’s largest online gaming communities, now offers the cryptocurrency as an alternative payment method in each market it operates, allowing players to purchase Twist credits using CBC across its collection of 400+ games.

Michael Bauer, Greentube’s Chief Games Officer, said: “The acquisition of the CashbBet Coin Treasury allows us to expand the use of blockchain solutions and we are evaluating the spread across our B2C casino portfolio to enhance the customer experience. We’ve seen increasing demand from players to offer cryptocurrency as a payment option and the successful integration of CBC on GameTwist has demonstrated the benefits of the technology for social gaming.”

Ed Brennan, President at CashBet Coin, said: “This deal completes our ongoing partnership with Greentube and is testament to the technical excellence and versatility of CBC. Given the scale of the company’s social user base and operations the acquisition will further advance development of the technology. With CBC now under the control of a leader in the global iGaming industry, we look forward to establishing greater utility of the token and seeing many more integrations across Greentube’s social products and services.”

Continue Reading

Cryptocurrency

Facebook Rethinks Libra Cryptocurrency Plans

Niji Narayan

Published

on

Facebook Rethinks Libra Cryptocurrency Plans
Reading Time: < 1 minute

 

Facebook is reportedly rethinking its plans for the Libra cryptocurrency, after resistance from regulators.

It is now considering a system with digital versions of established currencies, including the dollar and the Euro. The social network’s digital wallet is now expected to launch this autumn.

Of earlier reports that it might drop Libra itself, the firm said: “Facebook remains fully committed to the project.”

Facebook announced in June last year that it would launch the Libra digital currency, with a goal of making payments easier and cheaper. Its partners in the Libra Association include Lyft, Spotify, Shopify, but several other high-profile members such as Visa left after the idea was criticised by authorities.

“The Libra Association has not altered its goal of building a regulatory compliant global payment network, and the basic design principles that support that goal have not been changed nor has the potential for this network to foster future innovation,” Dante Disparte, head of Policy and Communications at the Libra Association, said.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.