Gaming cryptocurrency meets online betting: Loot.bet pledges support to SkinCoin

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Newly formed cryptocurrency SkinCoin for online gaming has recently made an announcement about an alliance with online betting company Loot.bet.

Created using Ethereum blockchain, SkinCoin is an ERC20 compatible token designed exclusively for online gaming. The SkinCoin tokens (SKIN) can be used to trade game skins, which change the appearance of heroes, objects, weapons and other objects in online games such as Counter-Strike: Global Offensive (CS: GO), Dota 2 and Team Fortress 2. According to Bloomberg the turnover of game items trade at different platforms amounted to more than $7 billion last year. While, some rare skins can reach a price of $15,000 per piece.

The company plans the development of a full ecosystem for SkinCoin, represented by wallets, marketplace, exchange and its own range of product offerings. In the meantime, ICO (Initial Coin Offering) campaign which started on June 21 is almost done and attracted till this point more than 12.000 ETH, or around 3 million dollars.

Clearly, eSports betting is on the rise now. Online platform Loot.bet, which offers to its players a wide range of choice for sports and eSports betting, will accept special gaming cryptocurrency SkinCoin. As a betting platform, Loot.bet received Curacao e-gaming licence in 2016 and instantly went through a sharp growth of customers.

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, partner of token design and ICO architecture company Cryptoassets Design Group and co-founder and director at education company Blockchain Partners.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Beijing, Venice, Nanchang, Shanghai, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona, San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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