The token’s launch, expected in the second half of 2024, is part of several initiatives aimed at positioning Rivalry in the crypto gambling market and serving its core audience of bettors aged 30 and under.
Earlier this year, the company revealed ambitious expansion plans for 2024.
“Online gambling is the latest web-based consumer category being increasingly disrupted by blockchain technologies with greater speed, access, and functionality than their legacy counterparts,” said Rivalry co-founder and CEO Steven Salz.
“Tech-savvy bettors are leading a behavioural shift towards more experiential and crypto-enabled gambling experiences that are taking wallet share from incumbents at an accelerated rate.
“Rivalry is well-positioned to access the growth opportunity in crypto with a proven product set, a brand entrenched in internet culture, and a captive audience of digitally native s that are driving this economic renaissance,” Salz added.
Player engagement
Rivalry Token will be integrated across Rivalry’s offerings, from sportsbook to casino, with a view to enhancing the customer experience end-to-end.
s can earn tokens through activities such as betting and referring friends. These tokens can be used to boost odds, participate in jackpots, and more, with further details still to be announced.The token will also be available on various crypto exchange platforms, trading under the ticker $RVLRY.
Rivalry Token aims to create a new dynamic between players and the house, rewarding every sports wager and casino spin, win or lose, with a decentralised asset that can accrue value alongside player activity on Rivalry, the operator said.
The company expects this to drive increased player engagement, loyalty, and advocacy by aligning economic incentives and enabling customers to participate in product success.
Pre-farming campaign
Rivalry has launched a pre-farming campaign, allowing s to accumulate an interim currency through site activity and social media engagement, which will convert to Rivalry Token during the token generation event in H2 2024.
Tokens will also be distributed to all Rivalry s based on historical activity.
Additionally, Rivalry said it would soon more cryptocurrencies on its platform, allowing s to bet with Bitcoin, Ethereum, Dogecoin, and other major cryptocurrencies.
Following the official launch, Rivalry Token will be available for players to use across all of Rivalry’s active markets, except in Ontario and Australia.
