Zurich, Switzerland, December 16th, 2024, Chainwire
Rivalry, the publicly listed next-generation betting platform that has processed over $1 billion in wagers, is teaming up with Sophon, the platform for onchain consumer applications, to introduce a community-driven ecosystem powered by blockchain. This partnership marks a departure from traditional house-vs-player models, paving the way for a more aligned and participatory future for millions of internet-native users.
Solving the Alignment Problem in Online Gambling
In betting, it’s typically a win-lose cycle: deposit, wager, win some, lose some, and repeat.
In many ways, within the consumer product category, online gambling has one of the most misaligned relationships between users of a product and those who operate it. It’s you vs. the house, while simultaneously, operators still want customer loyalty. Lose to me, but love me.
Creating alignment between the players and the house to find a win-win approach is the real opportunity here.
The premise of Web3 is designed to solve problems just like this one.
That’s why Rivalry created NUTZ, a well-designed token with real utility and real rewards that grows in benefits alongside the platform, forming a win-win setup that fuels ongoing value and growth for users.
This shift reflects broader trends of decentralization and innovation in consumer platforms, where users are no longer just participants, but stakeholders in the ecosystems they engage with.
Sophon: the enabler of mass adoption for consumer crypto
Sophon has positioned itself as the go-to platform for both established businesses and innovative startups looking to build onchain. By providing cutting-edge infrastructure, Sophon empowers companies to seamlessly integrate blockchain technology into their products, enhancing transparency, utility, and rewards for end-users.
From gaming and social applications to AI and now online gambling, Sophon is enabling mass adoption of crypto by creating intuitive, user-first experiences that don’t require a steep learning curve. This partnership with Rivalry underscores Sophon’s leadership at the frontier of consumer crypto, bringing the potential of the internet’s value layer to life. Sophon’s mainnet is set to launch on December 18th, marking a major milestone in its mission to redefine digital experiences.
Features transforming the industry
Rivalry is teaming up with Sophon to bring their NUTZ onchain and develop novel experiences for existing users, and new ones, and create a broader gambling ecosystem in Web3. That includes an entire roadmap of products and features, such as:
- Branded casino platforms: Teams can launch their own branded casinos, enabling token holders to stake as “the house” or bet against it.
- Enhanced rewards: Users can wager with NUTZ to unlock benefits like increased rakeback, and stake the token to participate in real-money lotteries and reach higher VIP program ranks.
- Exclusive experiences: Staking NUTZ grants access to community-driven events, special gaming, and sports passes, and a host of other perks.
These innovations not only elevate the user experience but also position Rivalry as a pioneer in Web3-enabled entertainment.
“We didn’t want to just add a token and build on blockchain for the sake of it,” states Steven Salz, Co-Founder & CEO of Rivalry. “We wanted to make the entire experience better for our users and enhance alignment to create a perpetual value creation loop. Sophon helps us deliver on that promise with technology that just works.”
“Rivalry gets it. They understand their community and what matters to them. Together, we’re creating experiences that feel natural to the internet generation,” adds Sebastien, Co-Founder of Sophon.
The bigger picture: mass adoption of the Internet’s value layer
The Rivalry-Sophon collaboration reflects the larger trend of decentralization in consumer platforms. Sophon’s infrastructure makes it possible for businesses to tap into the internet’s value layer, enabling mass adoption of crypto through real-world use cases that matter to users.
This partnership is more than a step forward for online gambling – it’s a step toward a future where blockchain technology underpins everyday experiences, from entertainment to finance, on a scale that drives true adoption.
About Rivalry
Founded in 2018, Rivalry is a leading sportsbook and casino operator for crypto-first players. As a web-based internationally regulated betting operator, Rivalry combines technology, culture, and entertainment to shape the future of online gambling, with a focus on the next generation of users.
About Sophon
Sophon is a platform for building next-generation entertainment applications, from gaming and social platforms to AI-driven experiences. It is poised to serve as the ultimate destination for entrepreneurs and established entertainment companies to start building their products onchain, providing end-users with entirely new opportunities to earn and enjoy themselves.
Contact
CMO
Oskari Tempakka
Sophon
[email protected]
