Imagine if NYX was not bought. The blockchain news around sports betting would have propelled this stock to much higher levels.
Which sporting industry is enjoying explosive growth, both on and off the field? Would you be willing to place a wager on your guess? If you said, 'Yes', to that proposition, you aren't alone. According to a market research report from Technavio, the sports betting market occupies the largest share in the overall gambling market, accounting for around 40 percent of gambling revenue generation around the globe (https://nnw.fm/4lcAh). Annual revenues are in the region of $400 billion each year, according to the report, but it is also well-known that some critics are concerned about betting's purported lack of security and transparency. Companies willing to forge a new path and create innovations in this highly lucrative industry are betting blockchain technology has the winning answer for critics and players alike. Victory Square Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB: 6F6) (VSQTF Profile) is joining a growing list of blockchain technology companies willing to put money on the table, such as Riot Blockchain, Inc. (NASDAQ: RIOT), NetCentsTech (CSE: NC), BTL Group (TSXV: BTL) (OTC: BTLLF), and HIVE Blockchain Technologies Ltd., (formerly Leeta Gold Corp.) (OTC: PRELF).
Blockchain technology and cryptocurrencies are taking the world by storm, and the multilevel gaming worlds of live and fantasy sports venues are entering that vortex with a vengeance.
In a report on the global online gambling market, Statista notes a consistent growth rate over the last few years from around US $20 billion in 2009 to more than US $40 billion last year (https://nnw.fm/W3vW8). Blockchain provides the sports betting community with the security of knowing its investments are being guaranteed by smart contracts underpinned by a secure and trusted payment platform. Fantasy sports enthusiasts, as well as those who attend live gaming events, are part of an active, online social network of people who enjoy the excitement, banter and potential winnings of betting and playing a part in the world of sports. What is often lacking in sports betting, however, is convenient payment options for sports fans.
Victory Square Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB: 6F6), a venture builder that creates, funds and empowers entrepreneurs, is one company addressing this need.
As an initial investor and incubator of companies utilizing blockchain technologies - the powerful and transformative technology behind cryptocurrencies like Ethereum and bitcoin - Victory Square is well positioned to be at the forefront of an industry that, according to numerous research reports (https://nnw.fm/tm9lT), has nowhere to go but up - especially as online gaming stretches its reach across the globe.
Blockchain technology is a form of distributed ledger technology that employs an encrypted or encoded database of transactions in the form of blocks arranged in chains. The technology makes transactions virtually immutable, and has the potential to increase transparency for regulatory reporting, to minimize risk and to improve contractual performance - exactly what millions of sports enthusiasts betting on their favorite teams want when jumping into the game.
Victory Square's early investment into FansUnite, a leading social sports betting network readying an ICO with a sports betting token called a 'FAN', is a prime example of Victory Square's increasing reach in the market.
"Blockchain technology and the inherent security it provides will enable us to push every envelope we can to build the most dynamic and responsive social sports betting platform," FansUnite Co-founder and CEO, Darius Eghdami stated in a press release (https://nnw.fm/UKz3N). "The opportunity to secure data through Blockchain certainly appeals to the accountant in me and we are confident it will become the gold standard among sports betting sites around the world."
FansUnite is also breaking new ground with the introduction of Fan Tokens, an in-game currency purchased with the cryptocurrency Ethereum (https://nnw.fm/9jBcu).
These aren't Victory Square's first moves to take advantage of market opportunities created by blockchain technology. The company made several early partnerships and investments in the space, including its incubation and investment in BTL Group (TSX-V: BTL) (OTC: BTLLF) three years ago. BTL, which was the first public blockchain technology company, is now a $250 million company offering blockchain solutions across multiple industries with particular focus on the finance, energy and gaming sectors. BTL's showcase product - Interbit - is a blockchain platform that facilitates the rapid development of business applications that dramatically improve efficiency. Some of the world's largest institutions are using Interbit to explore new opportunities on private blockchains.
Riot Blockchain (NASDAQ: RIOT) is a like-minded company focused on developing the future with blockchain technology and the use of cryptocurrencies, with a focus on the bitcoin and Ethereum blockchains. In an announcement Dec. 4, Riot reported that one of its strategic portfolio holdings, goNumerical Ltd (dba 'Coinsquare') had closed a CAD $10.5 million investment at a CAD $110.5 million post-money valuation. The new valuation for Coinsquare, a leading Canadian digital currency exchange, is over 3 times the valuation from Riot's investment in September 2017 (https://nnw.fm/2Vnl4).
Also supporting cryptocurrencies and other innovative payment methods is NetCents Technology (CSE: NC.CN), a next-generation, electronic online payment processor that also supports multiple traditional currencies. NetCents states it is utilizing its existing delivery ecosystem to introduce a proprietary coin, the NetCents Coin, that will have its initial releases in Canada and Europe. The digital coin will be operated under a structured coin release to prevent price speculation, will be backed by a Treasury Reserve Account, and will be structured with counterfeiting prevention and fraud risk detection, leveraging next-generation algorithms (https://net-cents.com/)
Another company in the arena is HIVE Blockchain Technologies Ltd., rebranded from its former name, Leeta Gold Corp. (OTC: PRELF), a cryptocurrency mining firm that is drawing attention from all quarters because of its exclusive partnership with Genesis Mining, the world's leading cryptocurrency mining hashpower provider (https://www.hiveblockchain.com/). Hive continues to pursue further blockchain opportunities, which includes holding onto the option to acquire at least three additional data centers in Iceland and/or Sweden from Genesis.
As these blockchain players continue to carve their niche in the industry, Victory Square is widening its reach. Earlier this week the company unveiled its most recent portfolio company, VS Blockchain Assembly, Inc. This Victory Square-incubated company is a dedicated blockchain and crypto investment and advisory services firm providing financial, technical and management services to developing early-stage blockchain technology companies. Blockchain Assembly also aims to enable existing technology companies to accelerate the integration and implementation of blockchain into their growth plans.
"Recognizing that technology companies are prioritizing the integration of blockchain into their core technology, and utilizing token generation events (TGE) or initial coin offerings (ICO) as new ways to raise capital and acquire customers and early adopters, Blockchain Assembly has been built to service this market opportunity," Victory Square CEO, Shafin Diamond Tejani stated in the press release (https://nnw.fm/4Uluc).
The company's initiatives represent a portion of the incredible opportunities of blockchain technology for application in sports betting and a variety of other high-demand industries. Blockchain technology and the development of digital currency payment solutions could be a promising investment option available to those wagering on flexible innovations.
For more information on Victory Square, visit Victory Square Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB: 6F6).
About NetworkNewsWire NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
NetworkNewsWire (NNW) is affiliated with the Investor Based Brand Network (IBBN).
About IBBN Over the past 10+ years we have consistently introduced new network brands, each specifically designed to fulfil the unique needs of our growing client base and services. Today, we continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Based Brand Network (IBBN) https://www.InvestorBasedBrandNetwork.com
Corporate Communications Contact: NetworkNewsWire (NNW) New York Editor@NetworkNewsWire.com +1-212-418-1217 Office
Media Contact: FN Media Group, LLC NNW@FinancialNewsMedia.com +1(954)345-0611
https://www.NetworkNewsWire.com
SOURCE NetworkNewsWire
https://rt.prnewswire.com/rt.gif?NewsItemId=enUK201712135400&Transmission_Id=201712130830PR_NEWS_USPR_____enUK201712135400&DateId=20171213