SharpLink Gaming has acquired a 10% equity stake in Armchair Enterprises, the U.K.-based operator of CryptoCasino.com with the $500,000 investment, which will also grant SharpLink the right of first refusal to acquire a “controlling interest” in Armchair.
SharpLink Becomes First Nasdaq-Listed Company To Enter Into Crypto Gaming
With this investment, the company has become the first Nasdaq-listed company focused on crypto gaming. SharpLink’s leadership sees this move as a calculated expansion into a high-growth market.
Chairman and CEO of SharpLink, Rob Phythian mentioned the company’s commitment to leverage its marketing expertise and industry relationships to deepen its presence in digital gaming. “Over the past year, our leadership team and highly engaged Board of Directors have dedicated significant resources and time to identify the best growth opportunities for our Company. Our goal is to strategically leverage our existing performance-based marketing platform and industry relationships to achieve deeper and more lucrative penetration into the digital gaming and sports betting markets,” he said.
CryptoCasino.com uses blockchain technology to enhance security, transparency, and user engagement. Offering over 6,000 slots, table games, a live dealer casino, a premium sportsbook, and an esports betting hub, the platform caters to a growing global audience. CryptoCasino.com supports multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, and facilitates instant transactions through Web3 connectivity with MetaMask and Trust Wallet.
According to Fortune Business, the online gaming industry is expected to reach $158.2 billion by 2028, with blockchain-based gaming growing at a 12.5% CAGR from 2024 to 2028. Pythian stated that SharpLink’s early entry will help the firm to capitalize on this momentum. “As more players and operators move towards decentralized gambling, early pioneers like SharpLink can secure a competitive edge over traditional operators,” he said.
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