There has been another vote of faith in crypto-centric gaming with the successful strategic fundraising of USD 21 million by the crypto casino and sportsbook betting platform BLUFF. The platform announced the lead investor is the blockchain investment fund, 1kx. The newly raised capital will allow BLUFF to build upon its successful beta launch, during which over 125 million bets were placed by more than 600,000 registered users.
What is BLUFF Building?
BLUFF is stepping strong as a new-age digital-native betting platform broken into three areas:
- Speed and visibility in terms of instant onboarding
- Real-time settlement of wagers
- Culturally verified game fairness
BLUFF is focused on creating a single unifying platform (different from other traditional sportsbooks), combining traditional sports betting with live prediction markets, binary outcomes, and community-driven events. The executive management team at BLUFF has some of the most experienced individuals in the industry, from Stake and Bet365, and is using their significant functional experience in creating engagement and a quality gaming experience for players.
Reason Behind Funding Indicating a Market Shift
Large scale funding from major players, including 1kx and Makers Fund, displays a strategic investment into a fresh approach to online sports betting and iGaming. BLUFF’s rapid acceleration through their beta test shows that there is an undeniable demand for these types of platforms, one that offers an enhanced user experience, creates a community feel, and incorporates the inherent advantages of crypto (i.e., instant settlement) that traditional systems cannot provide.
This funding shows a trend in the crypto space with venture capital moving into hybrid crypto/gaming platforms that leverage engagement and create a sound economic model oif Web3 while delivering a polished, mainstream product.
