Greentube is striving to utilize digital currency and blockchain technologies to improve its social gambling enterprise and effectively enter the realm of esports wagering. Chief Executive Officer Thomas Graf elucidates the strategy thus far.
Greentube’s social gambling business encompasses consumer-to-business applications for Europe and the United States, as well as business-to-business solutions for the United States and Australia. According to H2 Gambling Capital, North America will constitute 71% of social casino gross gaming revenue in 2021, particularly in North America, free-to-play games are experiencing a resurgence in popularity.
Playtika and DoubleDown Interactive, the behemoths of the social casino boom in 2012, are either already publicly traded or are listed on US exchanges. Due to companies like SportCaller and SuperDraft, free-to-play sports have finally contributed to the establishment of this vertical.
“As the social casino sector continues to expand globally, we are now intensifying our efforts, particularly in the US, on our app collection,” explains CEO Thomas Graf.
This will entail Greentube adding a new application, Diamond Cash, to its GameTwist and Slotpark portfolio, while free-to-play versions of its slot games will be offered to some of the largest US casino groups through GAN’s simulated gaming solutions.
This societal drive will be fueled by digital currency.
Graf clarified: “We only began incorporating digital currency into our most popular social casino applications last year to see how players would embrace this new payment method.” “For us, it was a fantastic opportunity to explore the digital currency space, and we also learned some valuable lessons from it.”
However, whether this will ultimately result in digital currency payments for real-money games remains to be seen. Graf stated the trial is “in its very early stages” and will concentrate on social aspects before considering any real-money implementation, and will adhere to the most stringent compliance standards.
Digital currency is also a key element of Greentube’s esports push, for which the company acquired Austrian firm Hero in February of this year. The company operates Herosphere.gg, a blockchain-based platform that permits players to create their own competitions and wager on the outcomes.
The platform has over 300,000 users and its primary currency is the proprietary token Herocoin. While the second blockchain-based acquisition in this sector this year indicates a particular interest in digital currency, Graf stated the Hero deal was “first and foremost” about esports and esports betting.
“Hero provided us with a head start because they had already developed and prototyped an esports tournament system that we will utilize and adapt in our core Greentube business,” he explained.
The Herosphere platform’s emphasis on making things enjoyable is what truly grabs our attention,” he stated. “We are presently making modifications and enhancements to the platform so we can reintroduce it in a more robust version.”
This will again be utilized to provide a more comprehensive understanding of esports, for a distinctive solution that will leverage the company’s expertise in games based solely on skill, where Herosphere will play a “crucial role,” he mentioned.
“Similar to the casino industry, we don’t simply desire to construct our own platform, we aim to develop our own content, which will grant us an edge over our rivals.”