Crypto wallet Exodus is now integrated with SportX, an online sports and crypto betting platform that offers users the ability to take part in esports games via smart contracts executed on the Polygon network.
The collaboration was confirmed today and it offers the over 1 million users of Exodus access to the decentralized betting exchange world of SportX, allowing them to place bets on a variety of sports and esports games using crypto. The minimum bet amount was established at $5, denominated in USD Coin. The amount can be sent directly to the Exodus wallet or exchanged from any of the 138 cryptos is currently has support for.
All markets that are created, traded, or settled on SportX are facilitated by the Polygon network.
As of now, SportX is allowed to function in most of Asia, most of Europe (except the Netherlands, and France), South America, and Canada.
Esports refers to multiplayer video games that are played competitively in front of spectators. It is now a billion-dollar industry especially thanks to the likes of Halo joining the market and helping it go mainstream.
Crypto and esports is a relatively new idea, but industry observers have noticed a “special connection” when it comes to the two areas as they both attract similar demographics and use technologies that go beyond geographic locations. GameFi is believed to come with new opportunities for the industry of esports.
Crypto exchanges haven’t stopped expanding in the esports market either, with FTX especially known for taking the lead, thanks to Sam Bankman-Fried. Just a couple of months ago, in August, the derivatives exchange signed a seven-year deal with Dolphin Entertainment in order to create NFTs that focus on brands in various sectors, like esports.
Previously, FTX also signed a $210 million naming right deal with TSM, the esports giant.