Oly Sports, Betswap Partner Up, Expanding NFT Horse Racing into Metaverse

Despite the recent Bitcoin crash, crypto gambling seems to be expanding, and the partnership between Oly Sports and Betswap is another example of that.

NFT Horseracing Coming to Metaverse

Oly Sports is an online horse racing NFT-based platform, where “players can buy, breed, and race virtual horses, which are represented by NFTs,” and Betswap will be serving as an intermediary that will enable blockchain sports betting to its users. Together, the pair is set to launch the world’s first horse racing NFT game, which is expected in August 2022 on Betswap’s platform.

Betswap.gg (BSGG) was dubbed the “first truly decentralized betting exchange” and is using an ERC-20-protocol multichain token (Betswap) that operates on the Ethereum, Avalanche, and Fantom blockchains. It allows users to quickly start betting, simply by linking their crypto wallet – no registration process, e-mails or geographical information required. It takes seconds to get up and running, and is basically trustless, thanks to the underlying technology. Mavic, Betswap.gg CEO said:

This collaboration will address the unmet need for accessibility in the world of sports betting, especially when it comes to NFT horse racing.” The opportunity would enable Betswap to cater more users “who are horse racing enthusiasts with the support, technology, and community from Oly Sport.

Betswap.gg CEO Maic

Oly Sports, on the other hand, is the “first horse racing metaverse game using non-fungible tokens,” echoing Betswap’s “first” moniker theme. Oly Sports players will be able to place bets or watch live races on Betswap’s platform without first needing to own a horse in Oly’s metaverse. Oly Sports has already been a host to more than 4,000 races and is currently hosting a tournament throughout the entire month. Jimmy Chan – Oly Sports CEO – commented on the partnership, saying the company is “thrilled to announce our very first partnership with a betting platform,” furthering its efforts to incorporate “traditional” horseracing into the metaverse.

NFTs Infusing Gaming World

2022 saw a big increase in NFT and blockchain popularity in the gambling industry. Just last month Spinomenal and Aplica launched two NFT slots tournaments. The new project is named Royal Sharx and launched on June 27. NFT-based VIP cards await the first and second place players in each of the two tournaments, and all casinos that are interested in joining the project are subject to signing a content deal with Spinomenal.

A few weeks beforehand, on June 9, El Salvador announced the launch of the Astro Club House – an NFT-based casino, which is the first of its kind. El Salvador is widely known for being the first country in the world to accept Bitcoin as legal tender, and the move to be the home to the first NFT casino fits its reputation for being extremely open to crypto, blockchain, and now – NFTs. The Canadian company – Astro Babies – launched the Astro Club House along its third NFT collection and the new venue is reportedly housed inside a beautiful property, with a modern interior and the Astro Babies glowing logo.

Just as news started flooding the network about the new casino, more NFT-related headlines started popping up, with UFC and DraftKings announcing a new Reignmakers NFT game, focused on UFC. The new iteration will include “gamified NFTs”, featuring UFC fighter NFTs.