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Rivalry, a sportsbook and iGaming operator, has announced the upcoming launch of Rivalry Token, a native cryptocurrency.
Scheduled for release in the second half of 2024, the token aims to enhance Rivalry’s product offerings, adding new functionalities and user experiences aimed at digitally native bettors.
Rivalry’s CEO and Co-Founder, Steven Salz, stated: “Online gambling is the latest web-based consumer category being increasingly disrupted by blockchain technologies with greater speed, access and functionality than their legacy counterparts.
“Tech-savvy bettors are leading a behavioural shift towards more experiential and crypto-enabled gambling experiences that are taking wallet share from incumbents at an accelerated rate.”
Rivalry Token will be integrated across the company’s product suite and users will be able to earn tokens through activities such as betting and referring friends. These tokens can then be used to perform actions such as boosting odds or participating in jackpots.
Rivalry has also launched a pre-farming campaign, enabling users to accumulate an interim currency through site activity and social media which will be converted into Rivalry Tokens during the token generation event in H2 2024.
Additionally, Rivalry plans to expand support for major cryptocurrencies like Bitcoin, Ethereum and Dogecoin, making it easier for users to bet with these digital assets.
Following the official launch, Rivalry Token will be available in all active markets except Ontario and Australia. The company plans to release further details about the token, including commercial partners and token economics, in the coming months.
Earlier this year, Rivarly also unveiled a new marketing campaign that featured NBA-themed collectible cards, known as “Rivalry Booster Packs.”
