web3.0
DuelNow, a Decentralized Sports Betting Market, Closed an $11 Million Funding Round Led by GEM Digital Limited
DuelNow, a Decentralized Sports Betting Market, Closed an $11 Million Funding Round Led by GEM Digital Limited
Built on Arbitrum, an Ethereum layer-2, DuelNow is the latest in a string of venture investments in Web3 gambling amid surging activity on Polymarket
VCs are betting big on Web3 gambling as DuelNow closes an $11M funding round
output: A decentralized sports betting market has closed an $11 million funding round as venture capitalists continue placing big bets on Web3 gambling.
According to an Aug. 1 announcement, DuelNow, a peer-to-peer sports betting platform built on Arbitrum, an Ethereum layer-2, closed the funding round, which was led by GEM Digital Limited.
The announcement comes amid surging activity on Polymarket, a crypto-betting platform on the Polygon blockchain network. Polymarket surpassed $1 billion in trading volume in July, largely driven by users wagering on United States election outcomes.
The platform has seen over $430 million wagered on which presidential candidate will clinch an election victory on Nov. 4.
DuelNow is designed to achieve lower fees and higher payouts by “taking the house of out the equation,” according to the announcement. The platform currently serves “NFL, MLB, NBA, and MMA fans” and will add additional betting products in the future.
Its investors include Litecoin founder Charlie Lee and Billy Markus, the creator of Dogecoin, among others, according to the announcement.
The global online sports betting market is worth almost $60 billion and is expected to grow at a rate of more than 10% annually, according to Zion Market Research.
Blockchain is becoming an integral part of sports betting platforms, which rely on the technology to cut transaction costs and improve transparency, according to The Business Research Company.
In July, Maincard.io, a Web3 fantasy sports game, launched on the TON blockchain network after securing roughly $2 million from the Ton Foundation’s accelerator program in 2023.
Ixia Capital raised $20 million in June to invest in online and Web3 gambling, with plans to launch some 25 betting startups—largely in Web3—over the next five years.
In February, Web3 betting platform Shuffle closed on a $2.5 million seed round with investors including Mechanism Capital’s Andrew Kang.
The above is the detailed content of DuelNow, a Decentralized Sports Betting Market, Closed an $11 Million Funding Round Led by GEM Digital Limited. For more information, please follow other related articles on the PHP Chinese website!
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!
Hot Article
Hot Tools
Notepad++7.3.1
Easy-to-use and free code editor
SublimeText3 Chinese version
Chinese version, very easy to use
Zend Studio 13.0.1
Powerful PHP integrated development environment
Dreamweaver CS6
Visual web development tools
SublimeText3 Mac version
God-level code editing software (SublimeText3)
Hot Topics
1393
52
37
111
Will the SOL ETF pass? Three reasons why SEC approval cannot be obtained in the short term
Jun 28, 2024 pm 04:38 PM
1. Asset management giant VanEck, which has issued a Bitcoin spot ETF and is seeking SEC approval for an Ethereum spot ETF, has submitted application documents for SolanaETF (VANECKSOLANATRUST) to the SEC. Matthew Sigel, director of digital asset research at VanEck, said Solana (SOL) is a commodity like Bitcoin and Ethereum. SOL's high throughput, low fees, robust security and strong community cohesion make it an attractive fund choice. Analyst Take: Bloomberg analyst James Seyffart believes that VanEck’s SOLETF application will be a factor in 2025 for a new administration and the Securities and Exchange Commission.
The Starknet ecological project ZKX, which raised tens of millions of dollars, announced its closure! Token ZKX flash crash
Jul 31, 2024 pm 01:50 PM
This site (120btc.coM): ZKX, a derivatives trading platform on Starknet with a financing background of tens of millions of dollars, announced its closure due to low user participation and serious lack of revenue. The founder of the protocol, Eduard Jubany Tur, called on users to withdraw funds before the end of August. As soon as the news came out, ZKX tokens fell by more than 34.8% during the day. ZKX, which has a strong financing background, is the first derivatives trading platform on Ethereum L2Starknet with self-custody and community governance. ZKX aims to provide sustainability to users on StarkNet and Ethereum through decentralized nodes and excellent trading experience. Futures and other derivatives. It is reported that the agreement was completed for 4 months in July 2022 and June this year respectively.
ApeCoinDAO proposes to open a Boring Ape themed hotel in Bangkok, Thailand! APE pays room fees and empowers BAYC
Jul 22, 2024 pm 03:36 PM
This site (120BTc.coM): ApeCoinDAO, the decentralized autonomous organization of the NFT blue chip project Bored Ape (BAYC) ecological token APE, launched a new proposal AIP-448 on the 19th, planning to build a prime location in the center of Bangkok, Thailand The goal of opening an ApeCoin themed hotel is to enhance the exposure of Boring Monkey IP, the popularity and practicality of ApeCoin, and create actual income for DAO. The current results show that more than 4.8 million APEs have agreed to the proposal, with a support rate of 89.47%, and only 565,000 APEs have voted against (10.53%). The voting is expected to close at 9 a.m. on August 1. The community plans to open an APE themed hotel, hoping to increase the popularity of Boring Ape.
Silvergate, the bank brought down by FTX's bankruptcy, settles with Federal Reserve, SEC for $63 million in fines
Jul 02, 2024 pm 03:30 PM
1. The U.S. Securities and Exchange Commission (SEC) sued Silvergate Capital, the parent company of defunct crypto-friendly bank Silvergate Bank, accusing it of misleading investors that the bank had an effective Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. Silvergate executives, including former CEO Alan Lane, former chief operating officer Kathleen Fraher and former chief financial officer Antonio Martino, are also among the defendants. The Federal Reserve (Fed) and the California Department of Financial Protection and Innovation (DFPI) also filed charges against Silvergate Bank. In today’s statement, the SEC alleges that Silvergate’s automated trading
LayerZero founder: If you don't feel comfortable donating, just don't receive airdrops! Token ZRO drops to $3.3
Jun 21, 2024 pm 04:03 PM
The full-chain interoperability protocol LayerZero officially opened airdrop applications at 19:00 on the evening of the 20th, Beijing time. But many users were surprised when they claimed it, because LayerZero introduced a claim mechanism called "Proof-of-Donation" this time. If users want to claim their own ZRO airdrop, they must first pay USDC, USDT or ETH worth USD 0.1 for each ZRO. (That is to say, if you can receive 100 ZRO, you need to pay 10 US dollars first) The community yelled: Scammers Although LayerZero explained that the donations collected in this airdrop will all be contributed to the chain for Ethereum developers. Funding ProjectProtocolGui
Cboe BZX exchange submits SOL spot ETF documents! Bloomberg analysts say next president is key
Jul 16, 2024 am 04:05 AM
This site (120BTC.coM): CboeBZX Exchange is one of the largest stock exchanges in the United States, mainly providing the listing and trading of stocks, exchange-traded products (ETPs) and exchange-traded funds (ETFs). Its parent company is CboeGlobalMarkets. Among the Bitcoin spot ETFs listed in January this year, six chose to list and trade on CboeBZXArk21SharesBitcoinETFWiseOriginBitcoinTrustWisdomTreeBitcoinTrustVanEckBitcoinTrustInvescoGalaxyBitcoinETFFrankli
Tsinghua University confirmed that Conflux Network (Tree Map) was founded by the Yao Class team of the school! Token CFX jumps 12%
Jun 25, 2024 pm 09:49 PM
This site (120bTC.coM): Tsinghua University in Beijing retweeted an article titled "Tree Picture: A World-Class Public Chain Created by Tsinghua's "Yao Class" Team" published by "People's Daily Overseas Edition" yesterday (24th). Declares that the Chinese public chain project ConfluxNetwork (Tree Map) was founded by the school's "Yao Class" (Tsinghua Academy Computer Science Experimental Class) team, led by Yao Qizhi who resigned from the tenured faculty position at Princeton University in the United States, and is committed to building Tree Map into the world Level public chain. Reports that Conflux will launch a mobile phone SIM card indicate that the creation of the tree map dates back to the end of 2017. At that time, Long Fan, a graduate of Yao Class and a doctoral student at MIT, returned to China to teach cryptography courses, focusing on the relevant principles and technology development trends of blockchain. With Yao Ban
21Shares submits SOL spot ETF application! Experts divided on SEC approval
Jul 02, 2024 am 03:28 AM
ETF issuer 21Shares has submitted Form S-1 for the 21Shares CoreSolana ETF to the U.S. Securities and Exchange Commission (SEC), making it the second issuer to propose a SOL spot ETF after VanEck. 21Shares focuses on crypto ETPs 21Shares is a Swiss company that specializes in providing cryptocurrency exchange-traded products (ETPs). Founded in 2018 and headquartered in Zurich. 21Shares has issued 40 crypto ETPs, listed on 13 exchanges, with assets under management of US$3.2 billion (excluding ARKB). Its most famous is the Bitcoin spot ETF ARKB, which cooperates with Ark, with current asset size of US$2.78 billion.