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The GambleFi Fever
Top GambleFi picks, BTC pump, and more.
It’s the 9th edition of Gems Corner. Today’s edition highlights the GambleFi narrative, Shanghai upgrade, BTC prospects, and lots more
Enjoy the gems.
The GambiFi narrative is gradually bringing the $63 billion online gambling market on-chain. Want to know how to leverage this exodus for 100x gains?
Let's find out!
Traditional and online gambling are not new concepts. They have existed for ages. In fact, it's a fast-booming industry currently growing at a compound annual growth rate of 11.7%.
However, it is not without its challenges. Some of which are:
Complaints of rigged systems - unfairness
Tax on bets
Ban restrictions on some regions
Most of the mentioned challenges are the primary limiting factors of the current gambling industry. And still, that's where GambleFi comes in.
The GambleFi narrative seeks to bring the gambling industry (casinos, bets, predictions, & games) on-chain. With the aim of solving most of the defects of the traditional and online gambling industry while onboarding more users into crypto.
So far, GambleFi projects have been gaining traction and attracting users. Interestingly, some tokens of its tokens have been doing 10-50x recently.
Now, let's look at some fast-emerging GambleFi projects with solid infra and fundamentals on my radar. In no particular order:
1. JustBet: JustBet is a decentralized, provably fair on-chain casino built using WINR Protocol. They have a solid infra and team with impressive games like Dice, Lottery, Wheel, Moon, Coin Flip, Plinko, and more.
JustBet's Testnet WLP pool went from $1 to $1.5644 in just 3 weeks. First movers keep milking profits and lucrative gains. If the testnet is like this, Imagine what the mainnet would look like.
2. Oxbets: 0xBets is a decentralized, provably fair on-chain casino hub built by the team at Metavault. Similarly, 0xchain will have incredible games like Coinflip, Dice, Roulette, Fortune Roll, etc.
3. Arcadeum: Known as the 'GMX of on-chain betting", $ARC is a decentralized casino that's fully on-chain and self-custodial, with a provably low and highly competitive house edge. They have an array of games and exciting features.
It is worth noting that GambleFi is still early and won't automatically fix all the anomalies of the online gambling industry. But gradually, it'll definitely get there.
Give it time.
Chart of the week
The above chart shows that nearly 1 million blockchain addresses now hold over 1 $BTC. The chart depicts the increasing adoption and usage of Bitcoin over time. Anon, the best days of crypto is still ahead of us.
Ethereum Shanghai Upgrade goes live
The long-awaited Ethereum Shanghai upgrade finally goes live, enabling over $34.5 billion in staked $ETH to be withdrawn. The best part is that the price of $ETH rises to $2k after the upgrade.
According to Ethereum’s upgrade path, the next in line is Danksharding. We’ll go deep into Danksharding in our subsequent edition. In the meantime, here’s the upgrade path.
Hashkey Group launches $HSK token on Ethereum - link
Crypto ETFs are the most-performing funds in Q1 - link
Uniswap mobile wallet now available globally - link
Euler Finance kickstart redemption - link
a16z releases the 2023 State of Crypto Report - link
Vitalik unveils his in-person speaking list for Q2 - link
DeFiLlama released a governance dashboard, tracking over 290 protocols - link
ConsenSys gives a free “Ethereum, Evolved: Shanghai," NFT mint to celebrate upgrade - link
FTX recovers $7.3 billion in assets and considers re-starting operations in Q2 - link
The Hong Kong Web3 Festival sets to hold this week with a lineup of 300+ speakers - link
It’s been a while since we saw a green market. Anon, be positioned for what’s coming.
Thanks for reading!
Until next Friday,