Seed round of financing

Vegas One raises $50M with plans to build the "largest" casino Web 3.0 game platform

2022-07-28
Reading time 1:25 min

Vegas One, a Web 3.0 casino game distribution platform, has completed a seed round of financing of $50 million. The investors were led by XSGames and Game Sparcs, and co-invested by 15 listed casino companies, professional casino game companies, and other investment institutions.

The Vegas One team comes from top casino game companies and blockchain technology companies, and they seek to "re-plan" the blockchain casino industry and "lead it in a healthy direction."

Their ultimate goal is to build the "largest" casino web 3.0 game platform, allow "tens of thousands" of gaming companies to join the construction of the ecosystem, "billions of players" to enter the ecosystem to experience games, and solve the employment issues of "hundreds of thousands" of gaming practitioners.

The startup cites data showing the market size of the gaming industry at $190 billion, with 90% of the game industry occupied by leading companies. "And most of its profits are deprived of advertising channels and app stores. The game content industry is plagued by plagiarism, which made a large number of outstanding game developers have lost their creativity. Vegas One is determined to change this situation in the casino game industry with cutting-edge blockchain technology," the company said in a release Thursday.

Vegas One plans to reconstruct the production relationship of the gaming industry, in which three stakeholders play an essential interactive role in Vegas One: developers, operators and players. "The cooperative relationship between various stakeholders is increasingly close, the number of intermediaries is reduced, and the relationship between producers and consumers is closer. Under the new Vegas One Web 3.0 platform, such trustless cooperation becomes possible. All assets and rights are protected by smart contracts, and all codes are open and transparent. These all reflect the core values ​​and technologies of Web 3.0," they explain.

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