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Betting platform Rivalry launches RVLRY token in Web3 expansion

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Sportsbook and gaming operator Rivalry immediately introduced the Rivalry Token (RVLRY) a local crypto token designed to enhance performance and consumer engagement inside its suite of merchandise. The token’s launch, anticipated within the latter half of 2024, marks a strategic transfer to solidify Rivalry’s place within the crypto-gambling sphere and cater to its major demographic of bettors below 30.

“On-line playing is the newest web-based client class being more and more disrupted by blockchain applied sciences with larger velocity, entry, and performance than their legacy counterparts,” mentioned Steven Salz, co-founder and CEO of Rivalry. “Tech-savvy bettors are main a behavioral shift in the direction of extra experiential and crypto-enabled playing experiences which might be taking pockets share from incumbents at an accelerated charge.”

The Rivalry Token can be embedded inside the firm’s choices, together with sportsbook and on line casino providers, incentivizing customers with rewards for betting, referrals, and extra. A pre-farming marketing campaign is already underway, permitting customers to gather an interim foreign money that can be transformed to Rivalry Token on the time of the launch.

Moreover, Rivalry is broadening its cryptocurrency help, getting ready to embrace Bitcoin, Ethereum, Dogecoin, and different main cryptos, thereby tapping right into a quickly increasing section of the betting market.

Diving into Web3

Salz instructed Crypto Briefing that the RVLRY token is “one half of a bigger strategic push into Web3,” which can permit Rivalry to include new know-how into the net playing expertise and create a product that feels extra native for customers preferring utilizing cryptocurrencies.

“This contains including larger help for common cryptocurrencies on Rivalry and extra that we’ll share sooner or later. Rivalry has been constructed from the underside as much as serve a digitally native consumer engulfed in web tradition – that is the demographic that additionally occurs to be main this financial renaissance with crypto,” he added.

Furthermore, Rivalry’s CEO explains that transferring nearer to Web3 is “an natural praise” to the corporate, and he believes this can resonate with a good portion of Rivalry’s core viewers and in the end permit them to ship a greater expertise for a buyer cohort that was born on the web.

The utilization of RVLRY in Rivalry’s current merchandise can be clearer as soon as its tokenomics are made out there, though Salz didn’t reveal an estimated date for that.

“We plan to proceed incorporating Rivalry Token extra deeply into our current product expertise with larger utility and delivering extra worth to clients over time,” he concluded.

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