November 21, 2024
BoxBet, a crypto-focused gaming platform, has officially emerged from stealth mode following a strategic funding round led by CMCC Global, a venture capital firm with $500 million in assets under management. The firm, supported by the Winklevoss twins and Richard Li's Pacific Century Group, brings additional credibility to BoxBet’s entry into the crypto-gaming sector.
Central to BoxBet’s approach is its integration with Telegram, the messaging platform boasting over 900 million monthly active users. This integration allows users to participate in gaming activities directly within the app, simplifying access and broadening the platform's reach. At the core of BoxBet’s ecosystem is the $BXBT token, an Ethereum-based deflationary asset. Designed to incentivize engagement and support growth, its unique mechanics include a burn mechanism using 30% of monthly revenue until 75% of the token supply is reduced.
The platform’s strategic goals include expanding into regulated markets, securing gaming licenses, and scaling operations. Partnerships with major sports franchises in Latin America and Asia, along with collaborations with a privacy-focused browser in India, highlight its aggressive marketing and expansion plans. BoxBet also distinguishes itself with user-centric features like the "Bet-to-Earn Airdrop" program and a rewards initiative returning 50% of revenue to participants.
About BoxBet
BoxBet is a crypto-based gaming platform integrating tokenomics and access via Telegram. It focuses on sports betting, lotteries, and mega jackpots, offering users rewards and unique features like the $BXBT token. The platform emphasizes privacy and regulatory compliance to build trust and expand globally.
Website: https://boxbet.io/casino
X: @boxbet
About Investor
CMCC Global
CMCC Global is a venture capital firm specializing in blockchain investments. Founded in 2016, it manages over $500 million and is backed by prominent figures like the Winklevoss twins. The firm focuses on early-stage projects in the blockchain and crypto industries.
Location: Hong Kong, Toronto
Website: https://www.cmcc.vc/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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