With more than 10 years of industry experience, the team behind innovative sports betting platform Bitgame has recently released the Lightpaper of native currency Lucky Tokens (LUT). Alongside this publication, the team has organized a $200,000 bounty campaign to spread awareness of the blockchain-powered entertainment platform. Compared to traditional sports betting platforms, Bitgame utilizes the power of blockchain to provide real, transparent, and untamperable results, as well as supporting a large number of cryptocurrencies. Within the newly-released details of LUT on the Bitgame platform, token holders are rewarded for their participation in the platform and able to share handsomely in the profits of the entire ecosystem.
Bitgame Leading the Industry
Long overdue for new innovations, Bitgame is following emerging technology trends to lead the online sports betting industry into the future. Combining extensive industry experience and cutting-edge decentralized infrastructure, Bitgame is able to provide a platform that is safe, reliable, and fair. These features are the result of applying keen insights into the future of entertainment, especially those looking at the global phenomenon of play-to-earn, which is quickly becoming an important part of the broader entertainment industry. Additionally, Bitgame recognizes the growing adoption rates of cryptocurrencies worldwide as an important trend to be a part of and therefore supports betting in over 20 of the industry’s largest cryptocurrencies (Bitcoin, Ethereum, Tron, etc.)
Bitgame’s mission is to provide an inclusive, transparent, and fair sports betting entertainment platform. In realizing a primary issue with traditional sports betting platforms is their centralized and secretive nature, Bitgame has built an entire ecosystem around profit sharing and rewarding user activity and contributions. As well as hosting the Bitgame team-created platform, this open ecosystem will support user-created Dapps and be geared towards organic expansion. In the future, users will be able to play and bet on an increasing number of games and sports matches on Bitgame.
Although having been trialed and tested on the Bitgame platform for a while, the release of the new LUT Lightpaper marks the beginning of wider circulation for the token. Lucky Tokens are the native digital currency underpinning the entire Bitgame ecosystem and can be used in a number of different ways, including betting on sports matches, participating in the platform auction house, and being given as prizes. Of the 1 billion LUT issuance, 70% will be reserved for mining rewards, 10% will be used for community building through incentive rewards, 10% will be used for marketing promotions and as fund reserves for development, research, and legal compliance, and the project team will hold 10% with a lockup time of at least two years to be used for technical development and partnerships.
As part of the ecosystem’s focus on profit sharing, LUT holders will gain a percentage of the entire ecosystem’s profits just by holding the token. A portion of each profits will be distributed into the dividend pool. From there, LUT holders will periodically receive a percentage of the pool relative to the size of their holdings and the rest of the ecosystem. The more tokens a user holds, the larger the percentage of rewards they will receive. This gives a new spin to the emerging play-to-win business model by giving out dividends for ecosystem participation.
To accelerate the adoption of the Bitgame platform, the team has sponsored a $200,000 bounty cross-platform social media campaign. Users on the Bitcointalk forums are able to take part in the campaign, which requires them to circulate information about Bitgame to their own communities and networks. Running over 12 weeks, participants will be required to perform specific actions and make certain posts on Twitter, Facebook, Reddit, Instagram, Telegram, YouTube, and TikTok to redeem their LUT. Additionally, some lucky earners will be further rewarded for their participation by receiving randomly drawn cash prizes.
For more details about the campaign, head over to https://bitcointalk.org/index.php?topic=5360440.0
LUT Lightpaper: https://bitgame-lut.gitbook.io/lightpaper/
Email: [email protected]