Crypto casino MyPrize innovates online gaming in international market

Lea Hogg June 4, 2024

SiGMA news

Crypto casino MyPrize innovates online gaming in international market

MyPrize, a Silicon Valley-backed crypto operator, has launched its innovative online casino platform in international markets, and a sweepstakes platform for US users. This comes after securing a substantial $13 million in funding from Silicon Valley venture capital firms over two funding rounds, catapulting the company to a total enterprise value of $140 million.

The platform is unique in its offering, integrating live streaming and multiplayer gameplay. This allows users to interact with content creators in dedicated rooms, fostering a sense of community and engagement. The start-up’s funding rounds were spearheaded by Dragonfly and Boxcars Ventures, with additional participation from investors such as Arrington Capital, Pudgy Penguins CEO Luca Netz, and Blockchain.com CEO Peter Smith, among others.

Revolutionizing the crypto casino experience

At the helm of MyPrize is CEO Zach Bruch, (pictured above), a seasoned entrepreneur who previously ran Recur, an NFT platform that raised a $50 million Series A before closing its doors two years later, in August 2023. Bruch was also one of the top traders using FTX and is one of nine people chosen by the US Department of Justice to serve on the FTX creditor’s committee to help recover the funds FTX’s millions of users lost.

Silicon Valley funding to global launch

MyPrize aims to disrupt the online casino space by offering social interaction and bonding akin to a live casino experience. Players can chat with their friends and stream themselves playing through MyPrize’s Bet Together technology, which allows creators to engage directly with their fans. Players can also assemble a group of friends or join their favourite online streamer on MyPrize to play casino mainstays including blackjack, slots, roulette, Plinko, scratch cards, crash, mines, and more.

Over 150,000 users have already signed up for MyPrize and MyPrize US during the early access period. MyPrize promises creators uncapped earning potential and a departure from traditional ad sales models. Steamers can generate profits by onboarding new users, but they also earn rewards for interacting with their community and keeping them engaged.

MyPrize users will be able to withdraw their in-game USD as cryptocurrency, while MyPrize US users will be able to enter sweepstakes contests for the chance to win real prizes, including cryptocurrency. This, the company believes, will turn MyPrize into a “major driver for onboarding new users into the Web3 ecosystem.”