The blockchain platform seeks to disrupt the gaming industry
2023-06-09 01:06:39 ET
Blockchain technology has proven that it is possible to disrupt various industries such as art and finance. In just a few years, products like Uniswap and PancakeSwap have changed the way people trade digital assets, while NFT platforms like OpenSea and Rarible have enabled people to buy and store non-fungible tokens (NFT).
The sports and prediction market is also ripe for disruption. Chancer , a new company, is trying to disrupt the industry by creating a platform where people can bet on live matches. Users of the platform can also create their own markets that are secured using the blockchain.
Fast growing industry
The sports betting industry is growing rapidly around the world as most people deal with the cost of living crisis. Most of this growth is occurring in the United States, where sports betting was until recently illegal. As a result, recent studies show that the sector is growing at a rapid pace. A study showed that the industry was valued at $83 billion by 2022 and will have a CAGR rate of 10% by 2030.
As a result, companies are flourishing in the industry. Publicly traded companies such as Penn National, DraftKings and Flutter Entertainment are each valued at billions of dollars. They all have double-digit growth rates and analysts believe they will be some of the most profitable companies in the world.
The same growth, albeit at a slower pace, is happening in other countries. Growth in these countries is a little slower because they embraced sports betting many years earlier.
How Chancer works
Chancer hopes to disrupt the gaming industry by creating a platform where users can globally place bets and create their own markets. They will be able to do this using their mobile and online platforms. This means that, in addition to sports betting, these users will be able to create verifiable markets. For example, if there is an election, a user will be able to create a market for such events.
Most importantly, the platform has a social angle as it will allow friends to participate in these activities. Chancer will be powered by the blockchain technology, which is good as it creates transparency. The developers have chosen the BNB chain as their preferred blockchain. Started by Binance, the platform also hosts popular dApps such as Hooked, PancakeSwap and Stargate.
Chancer’s upcoming token sale
Chancer’s platform has not yet launched. As part of the roadmap, the first phase of the platform will be to launch a token sale, where they seek to raise $15 million. The token sale will take place in 12 stages. At the end of each phase, the price of the token will be raised gradually. As a result, IT users who buy early will have an advantage.
You can find out more about Chancer’s upcoming token sale here.
Chancer’s token will have more tools. First, the project will at some point transform into a decentralized autonomous organization (DAO). In this case, these holders will be able to submit proposals and vote on them, as we wrote here .
Second, $CHANCER crypto holders will be able to create markets in the ecosystem and make some money when people trade with them. Furthermore, winners in the ecosystem will be rewarded with the Chancer token.
It is still early to determine whether Chancer will be a successful project or not. In the past, we have seen many ambitious projects come and go. However, it is possible that Chancer will be the next big thing in the industry. As a result, since the token will go for around $0.015, one can risk a few dollars and wait and see.
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