Rivalry, a leading sportsbook and iGaming operator, has announced an exciting new development: the launch of its own native cryptocurrency, Rivalry Token. Scheduled for release in the second half of 2024, this innovative token is set to revolutionize the online gambling industry by enhancing product offerings and introducing new functionalities aimed at digitally native bettors.

Rivalry

Blockchain Disruption in Online Gambling

Steven Salz, Rivalry’s CEO and Co-Founder, emphasized the transformative potential of blockchain technologies in the online gambling sector. According to Salz, “Online gambling is the latest web-based consumer category being increasingly disrupted by blockchain technologies with greater speed, access and functionality than their legacy counterparts.” This shift is driven by tech-savvy bettors who are increasingly gravitating towards more experiential and crypto-enabled gambling experiences, which are rapidly gaining market share over traditional options.

Integrating Rivalry Token Across the Platform

The Rivalry Token will be seamlessly integrated across the company’s comprehensive product suite. Users will be able to earn tokens through various activities, including betting and referring friends. These tokens will not just be a static currency; they will have practical applications such as boosting odds and participating in jackpots, thereby enhancing the overall user experience.

Pre-Farming Campaign for Early Engagement

To build momentum ahead of the official launch, Rivalry has initiated a pre-farming campaign. This initiative allows users to accumulate an interim currency through site activity and social media engagement. These interim rewards will be converted into Rivalry Tokens during the token generation event in H2 2024. This strategy is designed to foster early adoption and engagement, ensuring a robust and active user base at the time of the token’s launch.

Expanding Cryptocurrency Support

In addition to launching its own token, Rivalry plans to broaden its support for major cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. This move will make it easier for users to bet with these popular digital assets, aligning with the preferences of the growing number of crypto-enthusiast bettors. By supporting a diverse range of cryptocurrencies, Rivalry aims to attract a wider audience and provide greater flexibility and convenience for its users.

Availability and Market Expansion

Following its official launch, Rivalry Token will be accessible in all active markets except Ontario and Australia. This strategic exclusion is likely due to regional regulatory considerations. Rivalry has committed to releasing further details about the token, including information on commercial partners and token economics, in the coming months. This transparency will help potential users and investors understand the full scope and potential of the Rivalry Token.

Conclusion: The Rivalry Token

The upcoming launch of the Rivalry Token represents a significant step forward for Rivalry and the online gambling industry as a whole. By leveraging blockchain technology and introducing a native cryptocurrency, Rivalry is not only enhancing its product offerings but also setting a new standard for innovation in the sector. As digitally native bettors continue to drive the market towards more experiential and crypto-enabled gambling experiences, Rivalry’s proactive approach positions it as a leader in this rapidly evolving landscape.

The integration of Rivalry Token across the platform, combined with the pre-farming campaign and expanded support for major cryptocurrencies, ensures that Rivalry is well-prepared to meet the demands of modern bettors. As we look forward to the token’s release in the second half of 2024, it is clear that Rivalry is committed to providing a cutting-edge, user-centric gambling experience that leverages the full potential of blockchain technology.

FAQs: Rivalry’s Launch of Rivalry Token

1. What is Rivalry Token?

Rivalry Token is a native cryptocurrency developed by Rivalry, a sportsbook and iGaming operator. It aims to enhance Rivalry’s product offerings and introduce new functionalities for digitally native bettors.

2. When will Rivalry Token be launched?

Rivalry Token is scheduled for release in the second half of 2024.

3. How can users earn Rivalry Tokens?

Users can earn Rivalry Tokens through activities such as betting and referring friends on the Rivalry platform.

4. What can Rivalry Tokens be used for?

Rivalry Tokens can be used to perform various actions on the platform, including boosting odds and participating in jackpots.

5. What is the purpose of the pre-farming campaign?

The pre-farming campaign allows users to accumulate an interim currency through site activity and social media engagement. These interim rewards will be converted into Rivalry Tokens during the token generation event in H2 2024.

6. Will Rivalry support other cryptocurrencies?

Yes, Rivalry plans to expand support for major cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin, making it easier for users to bet with these digital assets.

7. In which markets will Rivalry Token be available?

Rivalry Token will be available in all active markets except Ontario and Australia.

8. Why are Ontario and Australia excluded from the Rivalry Token launch?

The exclusion of Ontario and Australia is likely due to regional regulatory considerations.

9. What are the key benefits of Rivalry Token for users?

Rivalry Token offers several benefits, including enhanced user experiences, the ability to boost odds, participate in jackpots, and greater flexibility in betting with popular cryptocurrencies.

10. Who is Steven Salz?

Steven Salz is the CEO and Co-Founder of Rivalry. He has highlighted the transformative potential of blockchain technologies in the online gambling sector.

11. How does Rivalry Token align with modern betting trends?

Rivalry Token aligns with modern betting trends by catering to tech-savvy bettors who prefer more experiential and crypto-enabled gambling experiences.

12. What future plans does Rivalry have for Rivalry Token?

Rivalry plans to release further details about the token, including commercial partners and token economics, in the coming months.

13. How does Rivalry Token enhance the betting experience?

Rivalry Token enhances the betting experience by introducing new functionalities and providing users with the opportunity to engage in more interactive and rewarding activities on the platform.