The team behind TronBet, the world’s leading crypto gambling platform, has published details of its newly re-branded business model.
Whilst the migration itself has been in the pipeline for a number of months now, specific details relating to the platform’s new crypto-currency WIN – which replaces the previous ANTE token – have only been published in recent days.
5% of the the newly minted WIN token – which will have an eventual circulating supply of 999 billion – will be released on August 8th on the Binance crypto-currency exchange, as part of the project’s IEO, or Initial Exchange Offering, often seen as the analogous equivalent of an Initial Public Offering for blockchain start-ups.
WIN has been designed to allocate winnings from the platform’s house-edge along with profits from its advertising revenues to token holders in what is one of the world’s first examples of a distributed earnings model leveraging blockchain technology.
Going forward, the platform will re-brand as WINk with its broad range of crypto gambling products and services enjoying formal trading licenses issued by the governments of Costa Rica and Curaçao.
Tron – Bittorrent – Binance Three-Pronged Strategy
Up until now, TronBet has been the world’s most successful example of a blockchain-based product – with the exception of Bitcoin – with current monthly engagement exceeding 15,000 users and daily trading volume occasionally surpassing $10 million USD.
However, with its major re-branding now underway, the project team has ambitions to take the platform to a wider user-base as it leverages strategic partnerships with both Binance, the world’s leading crypto-currency exchange, and BitTorrent, a recent $126 million acquisition by the Tron team, one of the original backers and financiers of the TronBet project.
One major strategy in the project’s future development plan is to accommodate payment for its services through traditional banking methods such as credit cards, which is expected to lower the entry barrier for new users.
Blockchain technology appears to be particularly apt for bringing improvements to the gambling industry – and is thought by some analysts to be on the point of re-defining it, notably for its ability to offer up provably fair platforms that allow users to maintain ownership of their assets whilst accommodating immediate pay-outs.
Regulators appear to have had little to say so far in what is still a nascent industry although intervention could be expected sooner rather than later if user adoption explodes – particularly given blockchain-based gambling’s ability to accommodate user anonymity.