As the World Cup approaches, various preparations are underway and by the looks of things, the FIFA World Cup 2022 will be an introduction of blockchain technology as many forms of the crypto industry take their interest in sports. We have seen crypto exchange like crypto.com and Algorand official blockchain partner and sponsor of the upcoming event in Qatar
However, decentralized sports betting platform BetDex was set to reopen on Solana's mainnet ahead of the upcoming FIFA World Cup on November 17.
This will be the world's first fully licensed web3 sports betting platform on a blockchain and has already received a license under the Online Gambling Regulation Act (OGRA), which is a license to provide any form of online gambling and online sports betting on the platform.
The platform created to allow users to bet on football matches with real money and cryptocurrency and will charge a fee for free through the exchange on all bets placed on matches of the FIFA World Cup 2022
According to CEO Varun Sudhakar said, “The BetDex exchange will be launched in some select countries like Asia, America and across Europe, but the team is looking forward to expand it to other areas after the upcoming 2022 World Cup.
Further explain that BetDEX Exchange plans to accept tennis and cricket betting in addition to football betting in the coming year and it will be a great achievement for them to get more members on board in the thriving space to bet on matches during the event and afterwards .
The financial service has issued Visa payment technology for the FIFA-launched Master of Movement NFT ahead of the exchange's launch date.
I believe that Cryptocurrency is gaining ground in the sports industry as many exchanges and Cryptocurrency industry are showing their interest in football and sports as a whole.
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