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Sports Wagering & NFT’s

Sports Wagering & NFT’s

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Sports Wagering Company Stakes Raises $5.3 M for NFT’s.

Sports wagering is getting more social via the Web3 treatment which will introduce NFT’s as rewards for successful wagers and predictors. The idea sounds great and is being pursued successfully by New York-based Stakes.

Stakes, in a recent funding round, raised $5.3 million for sports and sports wagering fans in a bid to integrate NFT‘s and Web3 in sports wagering.

Sports Wagering & NFT's
Sports Wagering & NFT’s

The capital raised is $5.3 million and several investors took part in the funding round. The capital flowed from Digital Currency Group, FBG Capital, LD Capital, CMS Holdings, Cadenza Ventures, Matrixport Ventures, and Sterling Select Group.

Stakes roped in NBA’s former VP SamLi as strategic investor and advisor.

Stakes was part of InterActiveCopr (IAC) incubator where it graduated in January. The company will use the raised capital to grow its team keeping in view its growing popularity.

The idea of rewarding betters and speculators with NFTs rewards is a creative idea in line with trends of the 21st century. Stakes will combine social media, gaming, crypto, and sports to provide a platform for sports fans to flex sports knowledge and earn bragging rights via NFT’s.

Kevin Wang, CEO of Stakes, said, “We are delighted to partner with an innovative group of investors who have a finger on the pulse of web3 and the future of culture.

Sports Wagering & NFT's
Sports Wagering & NFT’s

Our mission is to bring people together through sports and community with an engaging, digital experience that is so much more than a spreadsheet of numbers.”

Currently, the Stakes platform is accessible in an open beta app free for users to download and experience the fun of betting with friends without risking real money.

When asked about the idea being already in the industry, Wang said that Stakes do have elements from real-world sports betting, but it is ultimately creating a new category of sports wagering platform revolving around Web 3 technology.

As of now, Stakes has minted over 8.000 NFT’s, which it calls “proof of flex”, to over 2.500 users as a reward for sports predictions.

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Sports Wagering & NFT’s

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Best P2E Games list 2024

Sports Wagering & NFT’s

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.