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July 28, 2022 Technology, Online, iGaming

Vegas One raises $50m during seed round of financing

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Investments into the Web3 casino game distribution platform were led by XSGames and Game Sparcs.

Vegas One was able to raise $50m from investors after completing a seed round of financing. The investors were led by XSGames and Game Sparcs and was joined by 15 co-investing companies.

Professional casino game companies and other investment institutions also co-invested during this round. The Vegas One team is composed of members from casino game companies and blockchain technology companies.

The casino game distribution platform plans to provide consumers with smart contracts and have all codes open and transparent. Depending on the consumers' role with Vegas One, the company provides different amenities. 

For developers, Vegas One aims to deliver users high enough shares and professional guidance and suggestions. Operators will receive an exclusive staking pool and a steady stream of generous rewards when your contracted developer's products enter the platform.

The ultimate goal for the group is to build the "largest" casino Web3 game platform, allow "tens of thousands" of gaming companies to join the construction of the ecosystem, "billions of players" to enter the ecosystem to experience games, and solve the employment issues of "hundreds of thousands" of gaming practitioners.

In a statement, the company explained: "The cooperative relationship between various stakeholders is increasingly close, the number of intermediaries is reduced, and the relationship between producers and consumers is closer.

"Under the new Vegas One Web3 platform, such trustless cooperation becomes possible. All assets and rights are protected by smart contracts, and all codes are open and transparent. These all reflect the core values ​​and technologies of Web3."

 

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