BetDEX has raised $21M seed round to establish a decentralized sports betting protocol.
In the announcement of 17th November that is around 2 weeks ago, BetDEX announced this explaining this as “largest-ever seed investment round by a U.K. startup”
One of rising sun in next generation crypto evolution FTX and SanFrancisco-based crypto venture firm Paradigm led this round.
Other investment entities of this round are Lightspeed Venture Partners, Sino Global Capital and Solana Ventures.
BedDEX is building its protocol on Solana blockchain with the vision of “a global clearinghouse for sports wagering”
Third parties will be able to use BetDEX’s back-end infrastructure to run their betting platforms, based on Solana’s fast speed and low cost.
BetDEX will charge a fee less than 1% on net winnings.
Centralized competors like Fanduel and DraftKings typically charge 2~5%.
This company will launch its own platform as well. and it will accept wagers in USDT, SOL and SAMO.
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