Because of the recent adoption of cryptocurrencies and the now-thriving DeFi (Decentralized Finance) sector, the global gambling industry is in the process of being completely reinvented. The explosion of non-fungible tokens (NFTs) and the emergence of esports in the aftermath of the Coronavirus pandemic have accelerated this growth.
Sportsbooks can now aggregate real-world events onto the blockchain for immutable verification and betting, thanks to the development of decentralized smart contracts and oracles, while NFTs have given blockchain-based games new life.
As a result of these technological advancements, a flood of new gambling projects have sprung up, many of which have their own utility-based cryptocurrency or token and claim to bring some cutting-edge new technology to the table. But how many of these projects are merely hopping on the bandwagon, and how many of them actually offer something that sets them apart from their competitors?
Be The Bookmaker on Mychipz.io
Mychipz.io, a privacy-focused, DeFi-backed betting platform, stands out as a promising new project that allows users to become independent bookkeepers and accept bets from other users on a wide range of sports using the platform’s native ERC-20 CHPZ token.
Users must first register on the platform, create an account, select a payment plan, and then link to a non-custodial wallet to take advantage of this unique feature. After creating an account, users can use the Chipz interface to create their own betting room, choose a sport, set the betting conditions, and begin accepting bets.
Chipz uses blockchain smart contracts to distribute the prize pool to winning bets in a transparent manner at the end of the event. The feature also allows bettors to rate the bookkeeper before the room closes, ensuring that bookkeepers are held accountable.
The platform will debut in Q4 2021 and will initially offer betting on NFL, NBA, and esports, before expanding to include all sports, video games, casino games, and just about anything else that people can wager on. Mychipz.io also differs from traditional alternatives in that it has no bet limits, no KYC, and a lending protocol that allows users to borrow CHPZ. The platform puts a strong emphasis on user privacy and control.
Staking CHPZ DeFi
Chipz will be the first to offer DeFi-backed betting solutions, allowing users to stake the platform’s native CHPZ token and earn a return based on the outcome of major events over time. Smart contracts distribute the appropriate amount of the pool prize to bettors, bookmakers (based on rank), and CHPZ stakers once the results of a sporting event are final.
Stakeholders in CHPZ will receive an initial 3% of total revenue from all winning payouts and will not lose money on any fees from unresolved or canceled bets. Unlike traditional sportsbook staking, all staked CHPZ on Uniswap will be locked into a liquidity pool, allowing stakers to earn 3% of their staked CHPZ in CHPZ!
NFT Marketplace by Chipz
NFTs were the catalyst for the cryptocurrency bull market in 2021, and they are quickly becoming ingrained in the modern gaming ecosystem. NFT assets now have a monetary value outside of gaming and betting platforms, thanks to their role in reshaping the industry.
On September 21st, the Chipz NFT marketplace will go live, tapping into a $3 billion market with a slew of exciting projects and synergies. The first is Chipzdrive.io, an NFT-based racing game that uses Tezos’ Clean NFT network’s wrapped Chipz tokens for purchases, race entries, and prize pools. Players will be able to buy, use, and sell a limited number of NFT cars in Drive, including:
3 F1 Racers
5 street racers
12 Single Edition Vehicle NFTs
All of these items will be available exclusively on Chipzdrive.io on September 21. Players in the game can use the NFT cars in race events on “out-of-this-world quality” virtual race tracks to enter a prize pool with their CHPZ tokens and bet on their vehicles to win the top prize.
Nick Diaz has joined the Chipz family.
Chipz has already enlisted the help of notable figures such as American businessman Jacob Busch, former NFL running back TJ Duckett, and Limp Bizkit member DJ Lethal on its advisory board. Chipz has announced that renowned UFC legend Nick Diaz will be the company’s first major brand ambassador.
Chipz is extending the CHPZ public sale and NFT giveaway until Nick Diaz’s press conference for his fight at UFC 266, where he will be wearing a Chipz cap and promoting the project.
Chipz will help you build your market.
The Chipz team isn’t resting on its laurels with the marketplace launch approaching and a new ambassador to promote the project. This month, a selection of Chipz mini games will be released, as well as other exciting market releases planned in the run-up to the launch of chipzdrive in late 2021.
For all betting fans and potential entrepreneurs, the innovative Chipz platform and NFT marketplace have the potential to open up a world of possibilities. Users can now work for themselves, running a sportsbook and selling limited edition NFT assets. Anyone who wants to be a part of the future of betting can participate in the public sale and begin the process of becoming their own bookmaker.