A New Partnership Between Oly Sports and Betswap Brings NFT Horse Racing Into The Mainstream

There’s too much hype around the potential of NFTs and the Metaverse to disrupt the gambling industry, as bad narratives are not impacting how casinos tackle the new technology. Instead, more companies are securing partnerships with on-chain providers and providing NFT gambling for their users.

oly-sports-betswap-dappgambl-homes
oly-sports-betswap-dappgambl-homes

Oly Sports gets geared up with NFT Horse Racing

Betswap, one of the first fully decentralized betting platforms, is taking on the world of NFT horse racing by integrating one of the best NFT horse racing platforms, Oly Sports, as a general gaming feature.

Betswap.gg offers multi-chain betting features that use ERC-20 standard token and can easily interact with more EVM compatible chains such as Ethereum, Avalance, or Fantom blockchains.

With NFTs allowing users to retain ownership of their in-game assets, including game credits, Oly Sports offers games a more comprehensive experience when betting on horse races. Betswap then becomes a real value-added platform for Oly Sports and its users, as players can simply connect their wallets and start betting on the winning horse.

By integrating Oly Sports, users will be able to bet on races and also watch live races. On top of that, users will have a more hands-on NFT approach as they will not be required to own an NFT horse.

The shift to offering horse betting tournaments on a decentralized platform is a positive turnaround for Oly Sports as it offers users a prime NFT experience and opens the door for more NFT integration in the future.

Oly Sports has hosted over 4,000 races after raising $2.3 million in November 2021. With that in mind, Oly Sports is set to launch on Betswap by August 2022.

NFTs & Gambling

Despite the bad market conditions, the value NFTs bring to the gambling sphere is unprecedented. As a result, more companies understand the importance of addressing asset and fund ownership, especially when it comes to gambling assets.

The notion of community and Web3 becomes ever so prevalent as every previously centralized activity now becomes digitized, and there is a dire need to focus on more community incentives rather than owner incentives.

As we’re noticing, more NFT gambling projects are taking over the gambling industry and are increasing in popularity among more prominent brands as well. If that doesn’t tell the whole story, Draftkings and UFC have partnered to bring out a new NFT game. Although it might now be a direct link to NFT gambling, the game could potentially play a role in bridging the decentralized betting space with Drafkings’s business model.

Vlad Hategan
Written by Vlad Hategan verified symbol NFT Gaming Specialist
75 Articles

Vlad is a cryptocurrency expert and social media specialist. With a focus on cryptocurrency culture and how network variables affect cryptocurrency interactions, Vlad has learned the industry's complexities. He is committed to sharing his knowledge in various crypto sectors with anyone interested and is always looking for the next big narrative! Vlad is always interested and keen to be on top of every new blockchain development.

More about this author
author reviewed shield

Reviewed and Fact Checked by Vlad Hategan , NFT Gaming Specialist