These are partially audited contracts, do practice caution while using.

Insights Into the World-Changing Potential of On-Chain Gaming
Insights Into the World-Changing Potential of On-Chain Gaming

Insights Into the World-Changing Potential of On-Chain Gaming

Blockchain technology and the decentralization movement are set to disrupt many industries, but perhaps none more than gambling. By bringing transparency to a once-opaque industry, on-chain gaming promises to shine a light onto a sector characterized by intransparency and a lack of fairness.

What is Decentralized Gambling?

Decentralized gambling takes control away from centralized organizations which typically operate gambling sites. This design model opens the doors to player-centric mechanisms, one of which provable fairness.

All payouts and bets are verifiable with all transactions recorded on-chain, thereby leaving platforms with no choice but to acknowledge all activities carried out by players. With this model, no longer can casinos mess with the outcome of wagers or insist that a specific winning bet was never played.

Decentralized gaming and gambling can also include the notion of community governance and utility tokens. With tokens available to the community, players have a stake in the platform, potentially reducing their house edge, being subject to rewards, earning a share of revenue, and providing a genuinely decentralized business model where no single party controls the mechanics of the site.

Why Are Traditional Online Casinos Unfair?

Even if land-based casinos are well regulated, and the house edge is discernible, online casinos pose enormous risks to players. Online casinos have been widely reported to alter their software to issue false outcomes. Whether it is second dealing, rigged games or faulty slots, players are often at the mercy of unscrupulous operators or buggy software.

Many are operated by criminal organizations out of less-regulated jurisdictions and can be difficult to track down in the event of a non-payment of winnings. Online casinos have a well-earned reputation for engaging in fraud and theft, usually in the form of (unrevealed) unfair odds and rigging.

Online gambling is a $45 billion a year industry, and despite a sheer yearly growth, it lacks oversight whilst harboring unfair practices. Thankfully, on-chain gambling models can resolve all of those problems by providing a transparent and immutable record of every action taken on the casino. Thanks to its many user-centric benefits, decentralized gambling has become a buzzword despite many casinos not being fully decentralized, fair, or governed by smart contracts.

Untapped Market Opportunity

After conducting careful studies of the current market, CryptoPunt was launched in hopes of resolving all paints generally associated with online gambling. All the games and the casino are fully decentralized, with completely auditable smart contracts. As such, all bets are recorded on-chain via the Polygon Matic ecosystem, the layer 2 Ethereum scaling solution, which also drastically reduces transaction costs for players.

Access to CryptoPunt will be via a standard web3-enabled Ethereum wallet like MetaMask, meaning that CryptoPunt provides a non-custodial payment policy, so users retain control over their private keys, with funds never moving in the absence of authorization. This model also ensures that there is no risk of delayed or denied withdrawals since wagering happens directly via a user’s web3 wallet – consequently, there are no deposit or withdrawal buttons.

The first games to be launched will be Blackjack, Jackpot, and Coinflip, with many other entertainment options like Crash to follow.

A recent look at the MVP of CryptoPunt has shown a beautiful user interface built for and by punters, offering a sleek, fun, and efficient experience.

Introducing Community Tokens

To further enhance the platform’s decentralized credentials, CryptoPunt will be releasing $PUN, its very own native utility token. $PUN tokens will be issued as rewards to affiliate marketers, with 0.1% of all bets being automatically credited within their wallets. Token holders can also access lower house edges, giving them greater chances of winning, along with access to exclusive promotions and better rates. CryptoPunt has mentioned that it is actively developing the utility of the $PUN token to reward early buyers and create an ever-expanding gambling ecosystem.

$PUN is the world’s first casino utility tokens to support both ERC-20 and BEP-20 standards and will be listed directly on the PancakeSwap & Uniswap decentralized exchanges. With a listing price of 25 cents, $PUN will hold an initial market cap of $1.2M.

They are backed by industry heavyweights like VYSYN Capital, CryptoMarvels, Chain Ridge Capital, Insignius Capital, Dutch Crypto Investors, and BMW Capital. It is expected that CryptoPunt will demonstrate that on-chain and fully decentralized gambling is the only rational choice for the industry to not only survive but thrive.

Path
Share on facebook
Share on twitter

RELATED ARTICLE

Alex

CEO

From scaling up businesses from scratch to launching online products, and from balancing client relationship to being a reliable face for the organization, Alex is everything a new-age startup needs. CryptoPunt is delighted to have Alex as its strategic director & CEO!

Dan

CTO

The role of a technology officer in a tech startup can’t be stressed enough! Fortunately the person handling security, cryptography & maintenance at CryptoPunt is none other than Dan Krusto. Dan has been working on Blockchain, Smart contracts & Ethereum development way before they became mainstream! We’re sure his past experience in the field would be beneficial for Cryptopunt & its users alike.

Sam

Creative Director

Gone are the days when Blockchain based gaming was analogous to clunky UI & UX. With Sam honing the creative side of CryptoPunt, her past experience in Fortune 500 companies & startups is bound to match and exceed the GenZ gamers’ expectations!

KVESTOR

Advisor

KVESTOR has always been a visionary and it’s illustrated by the fact that they began accepting Bitcoins way back in 2012! Possessing a bulls-eye intuition for spotting future trends, KVESTOR founded VYSYN ventures in 2015 which since then has been at the forefront of disruptive Blockchain projects. CryptoPunt is looking forward to their valuable mentorship in the future.

Tone

advisors

Tone is someone who has experienced IT world in its entire length & breadth. From working with Salesforce as a developer and consultant, to taking a dive in online poker websites business and then finally shifting full time to cryptocurrency industry in 2017, few people would be having a diverse career as him. Navigating the seas of crypto gaming market would be cakewalk with Tone at the helm!