BetOnline, has invested in the NFT market, spending 120 Ethereum, or $375,000, on Bored Ape Yacht Club #320.
This purchase reflects a growing movement by athletes and other sports related entities to invest in this new, and often controversial, art form. Indeed, BetOnline joins a series of names in purchasing an image from the Bored Ape line; names include Shaquille O’Neal, Steph Curry, Mark Cuban, Eminem and Paris Hilton.
"Our company was an early adopter of cryptocurrency because we strongly believe in the future of blockchain technology," BetOnline CEO, Eddie Robbins III, said. "NFTs are a new vertical for us, but we're just as bullish on this global movement as we are on the crypto space."
This follows BetOnline’s original entry into the NFT market in December 2021, when the brand purchased a number of images in the Knights of Degen range.
Clearly, this operator sees NFTs, cryptocurrency and other Web3 inspired tech as key industries for the future of gaming. During this week's Super Bowl LVI, the company is giving away $1,000 worth of Bitcoin for every point scored to customers who enter its raffle.
"We saw this as an extremely exciting opportunity to join one of the world's most desirable NFT communities. Our Ape really spoke to us. He's fun, he's hip and he's now a symbol of our commitment to this industry," Robbins III continued. "We're just getting started with non-fungible tokens, but we have big plans for this burgeoning industry."
