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Formula 1 goes into Blockchain

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Formula 1 goes into Blockchain
Source: 1XBit

A rapidly expanding blockchain gaming startup Amiloca Brands has announced the reaching of a deal with Formula 1 to create and distribute F1 Delta Time-a blockchain game based on the popular racing series.

Formula 1 has always been one of the biggest heavyweights in the global sports industries which promised significant profits to any startup that get a sponsorship deal with the league of fast and furious.

Naturally, it was only a question of time before blockchain projects began establishing cooperation with the organizers of this elite auto racing. Animoca Brands, an expanding developer of mobile games on blockchain headquartered in Hong Kong, announced that they have entered in an agreement with Formula 1 which stipulates the development and promotion of a new blockchain-based game F1: Delta Time.

The game will have a non-fungible token named NFT which will be used for intra-game purchases and allocation of bonuses. F1: Delta Time will provide players with an opportunity to exchange or sell skins, items, and other components using the token. This game will be released in a month and a week from now.

However, the history of relationships between Formula 1 and blockchain startups haven’t begun with this deal. Earlier this year, one of the widely recognized racing teams, namely Aston Martin Red Bull Racing, signed a sponsorship deal with FuturoCoin, a Polish developer of cryptocurrency that has a lot of similarities with Dash, in terms of code and functional features.

This is the multi-year contract that involves the placement of FuturoCoin brand logo on the overalls of all team members as well as the bullet-fast RB15 race car.

Formula 1 is undoubtedly a very spectacular sport that delivers a shot of adrenaline even if one watches it on TV. This is a global phenomenon which attracts lucrative deals from companies of different scale.

However, don’t forget that Formula 1 is, first and foremost, a sport which, like many other kinds of sport, could bring substantial profits to a devoted punter.

Since recently, the cryptocurrencies became a popular mean of placing bets on the outcome of sporting events. 1xBit, a leading crypto bookmaker, grants a range of betting on Formula 1 as well as 50 other kinds of sport.

The avid bettors and racing addicts will certainly appreciate the Formula 1 promotion which offers a guaranteed bonus of one free spin for every 2 mBTC that you spend without getting any winnings in return.

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Press Release

Are Blockchain Casinos on the rise?

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Are Blockchain Casinos on the rise?
Source: Pixabay

Over the years, the online casino industry has gone through many changes with new technology allowing for better payment methods and software on the sites. One of the newer additions to online casino sites is blockchain and sites that use this.

Here, we are going to discuss whether we think that blockchain casinos are on the rise or not. Keep reading if you’d like to find out more about these casino sites.

What Is A Blockchain Casino?

Blockchain technology is essentially a system that allows digital information not to be copied when it is being distributed. This technology originally started out as a method for Bitcoin which is a cryptocurrency and now is present in many online casinos. Blockchain was first invented in 1992 and since then it has come a long way.

A blockchain casino is a safe and secure casino that uses this special technology to pass the information on. There are many new casino sites that are already using blockchain technology but is the number of these still rising?

Why A Blockchain Casino?

You might be wondering about the advantages of blockchain casinos and why many casino operators are making the switch to this technology. The main reason for this is that there are many advantages to using this technology. Firstly, there is more transparency and trust and there is also a reduced risk of fraud.

This is something which is very important to many players at online casinos as they want to make sure that they are not passing their details onto a company that is going to sell it on.

When a casino uses blockchain technology, they can also allow players to make payments with cryptocurrencies like Bitcoin which are becoming even more popular in recent years. Of course, there are many other advantages of using a blockchain casino both for the player and the operator. For this reason, we have seen a rise in the number of blockchain casinos online right now.

Issues With Blockchain

There are some minor issues with blockchain casinos that operators are working hard to resolve as soon as possible. The fact that it is new means that there are some general infrastructure issues and the transactions can go through a lot slower than some players would like. Of course, these issues are set to be resolved sooner rather than later.

The Rise Of Blockchain Casinos

From the research done by companies interested in blockchain casinos, it is clear that these casinos are on the rise. In the first quarter of 2019 alone, there was $1 billion of TRON cryptocurrency gambled online. This is a lot of cash and it shows that players are not afraid to try out this new type of casino when it comes to spending their own cash.

Research also suggests that this income came from over 432,000 users which are a lot more people than it would have been in the past when this technology was first invented.

Of course, it is also important to note that the online casino industry is growing at the same time as the popularity of blockchain casinos. It is expected that the online casino industry will earn more than $50 billion this year which is a lot of cash.

With more people playing online in general and the technology improving so much – it is expected that blockchain casinos will become even more popular as time goes on.

Final Verdict

It is clear that blockchain casinos have been on the rise for a while now and they don’t plan on stopping any time soon. As the technology gets more advanced and players can be sure that their details are going to be kept safe, these casinos are set to become even more popular.

On top of this, online casino regulators can rely on technology when it comes to ensuring casino operators are sticking to the regulations. Look out for the rise of blockchain casinos as time goes on and more casino operators start to make the switch to this technology.

We expect more payments being allowed in Bitcoin form as well as the other cryptocurrencies that are gaining a bit of momentum right now.

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