The blockchain-based sports betting exchange Aver has raised $7.5 million in seed funding for a peer-to-peer betting platform to be launched in the Solana blockchain. This is expected to launch in the second quarter of this year, according to a press release. Aver’s peer-to-peer wagering platform lets users create bets and set their own odds, which then serve as the basis for other gamblers’ acceptance or rejection of those odds.
This allows users to compete against each other without having to trust a bookmaker, who might otherwise set the terms of a bet in their favor. The end result is a peer-to-peer betting network that lets people make bets on anything from basketball to baseball to tennis — without having to deal with middlemen like bookmakers.
Jump Crypto spearheads the capital raise, which along with its affiliate Jump Capital, has been a leader in developing innovative crypto and sports betting ventures.
Partners of this project include: PetRock Capital, Solar Eco Fund, Serum Ventures, Blue Pool Capital, MEXC, Genesis Block Ventures, Susquehanna International Group, Mirana Ventures, and Gate.io. The funding will be used to expand Aver’s footprint across the United States and Europe, which right now still faces restrictions.
Benefits to P2E Gamers
Aver aims to provide its users with an easy way to place bets on any game or event they wish to bet on, without having to go through a middleman or rely on a centralized organization for their funds. The company also offers users access to the latest news about their favorite teams or players directly from their website using the Aver News feature.
As a result, P2E gamers have new ways to enjoy playing games while earning, provided they only invest what they’re willing to lose and study the risks. The company shows that it plans to use the money to build out its platform and continue to grow its user base to millions of daily active users (DAUs).
Aver’s technology connects game publishers and developers with players who want to earn money by playing games. It does this through what it calls its “play-to-earn model,” which allows users to earn real money for playing their favorite games on mobile devices or computers.
The company demonstrates that its model is unique because it offers a level of transparency that other platforms cannot provide. Aver wants to show they can build mechanisms where users can withdraw their earnings anytime they want without any restrictions or limits.
— Aver (@AverExchange) July 1, 2022