Crypto

SportX Partners Exodus Wallet to Allow Crypto Esports Betting

SportX Partners Exodus Wallet to Allow Crypto Esports Betting

Exodus has partnered with SportX, an online sports and crypto betting service, to allow users to bet on esports games via digital currencies running on the Polygon network.

Exodus’ more than 1 million users will have access to SportX’s decentralized betting market, where they will be able to place bets on a variety of sports and esports games using cryptocurrency. SportX is at the moment approved for usage in Canada, South America, most European countries (with the exception of France and the Netherlands), and much of Asia.

With the latest version of Exodus Wallet’s desktop and mobile apps, you may now install the SportX app. The minimum bet is $5 USDC, which can be paid directly to the wallet or swapped from any of the Exodus Wallet’s 138 supported digital currencies.

Esports, a competitive multiplayer video game played in the presence of an audience, has evolved into a billion-dollar industry, with big developers such as Halo joining the fray. Even though the interaction between cryptocurrencies and esports is still in its infancy, industry watchers have noticed a “unique link” between the two fields. Both communities have similar populations and use technologies that are not limited by geography. GameFi, or the financialization of gaming, is expected to open up new options for the esports business. (However, GameFi isn’t just about esports financialization; it’s about digital gaming in general.)

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Nonetheless, crypto exchanges keep growing their presence in the esports business, with Sam Bankman-FTX Fried’s leading the charge. The derivatives exchange signed a seven-year partnership with Dolphin Entertainment in August to generate nonfungible tokens for businesses in a variety of industries, including esports. TSM, the esports giant, signed a $210 million naming rights deal with FTX in June.

The Author

Oladotun Olayemi

Dotun is a financial enthusiast who specializes in first-in-class financial content, including crypto, blockchain, market, and business, to educate and inform readers.