National Economics, Gambling and Cryptocurrency: A Perfect Storm?
https://www.coindesk.com/national-economics-gambling-cryptocurrency-perfect-storm/While gambling with cryptocurrencies has been around since the early days of bitcoin (and is expected to grow strongly as customers get more comfortable with the concept), an interesting twist appears to be emerging from platform tokens.
Combine these trends with national legislation and economic strategy, and you begin to see a fundamental shift that has the potential to transform a massive segment of the leisure economy.
eSports betting platform Unikrn got an online gambling license from Malta. This enables it to offer real-money betting to most of Europe, and token-based betting to the rest.
What makes this noteworthy is the platform’s new crypto token. A couple of years ago, the company created a platform-only digital token to enable users to place bets on the outcomes of games such as League of Legends. The new version, however, will run on the ethereum blockchain.
This means that it can be traded between players, sold on an exchange and converted to fiat money in many jurisdictions. It also points to the emergence of a community of developers that in theory could extend its utility by creating additional apps and add-ons.
(This is similar to what we can do.)
While this is interesting for eSports betting sites such as Unikrn, it could be especially compelling for other cryptocurrency startups.
