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 tokens 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.
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