Gaming has often been referred to as the tipping point for mass blockchain adoption, an understandable statement given the many benefits that blockchain technology holds. From immutable and transparent gaming transactions to convenient asset management, blockchain-powered gaming will bring billions in additional revenue to this industry.
The BET Gaming Network (BGN) is now launching with a clear purpose – break and surpass the boundaries of blockchain gaming. As a group consisting of future-centred platforms and protocols, BGN plans to build, finance, and research innovative use cases in hopes of bringing blockchain gaming to the mainstream market. United under the $BET native token, all BGN partner platforms are mandated to purchase and integrate $BET within their use cases.
Inside the BET Gaming Network’s Value Proposition
At this time, BGN is positively disrupting the legacy online casino industry through the promotion of on-chain betting, non-custodial account systems, cryptocurrency acceptance, and token usage.
First and foremost, BGN is focused on creating and partnering up with innovative platforms on the iGaming market. BGN is especially looking for tech-driven decentralized projects that stay true to the blockchain ethos of transparency and user-centred approaches. Moreover, BGN also plans to get involved with mainstream-friendly online casinos that accept digital currencies and are willing to incentivise users through the means of token-based rewards. Lastly, BGN is showing an interest in white-label solutions that can be commercialized to the masses.
Why Use the BET Token?
Initially launched on EarnBet, a decentralized crypto casino with a profit-sharing philosophy, the $BET token was meant to reward stakers through a share of the platform’s profits and access to a lower house edge. This use case is still in motion, with $BET stakers earning over $10 million in dividends so far.
The $BET token is now gaining a series of other key functions:
- Usable for community engagement through governance mechanisms, $BET enables token holders to make their voices heard by voting on BGN initiatives. $BET also grants governance rights to users of partner platforms like EarnBet.
- $BET provides network incentives on BGN. Projects looking to get involved must commit to purchasing and burning $BET, or at least to creating a use case for $BET within their business model.
- The staking model is being overhauled, as $BET stakers will be subject to receive crypto rewards and exclusive perks across the BET Gaming Network. Future members may provide $BET holders with product discounts, beta access to new releases, preferential rates, free merchandise, and the option to use $BET as a means of payment.
It’s imperative to point out that $BET holds deflationary tokenomics, with frequent burns occurring in hopes of further driving up the price and benefiting holders and stakers alike. As a cross-chain compatible token, $BET is usable on Ethereum, WAX, and the Binance Chain.
The BET Gaming Network Partners
Albeit a centralised casino, BeTheHouse contributes to $BET’s ascension as the market’s best blockchain gaming token by utilising 20% of its first-year profits to buy back and burn $BET. BTH provides award-winning slots and table games, as well as mining for STACK tokens.
EarnBet is a decentralized and on-chain casino with a profit-sharing philosophy that distributes 100% of all BTC and ETH profits to stakers in a proportional manner depending on their stake. EarnBet provides profitable and entertaining in-house titles like Dice, Blackjack, Baccarat, Crash, and Hi-Lo while supporting payments in a dozen coins.
As an EOS-based casino, EOSBET provides several in-house games and uses its entire profit to burn $BET as part of the BGN deflationary mechanism.