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Saturday, October 23, 2021
Home News Gaming cryptocurrency meets online betting: Loot.bet pledges support to SkinCoin

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

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.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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