Divvy Raises $2M in Seed Investment by Shima Capital and Others
Divvy is a decentralized betting protocol powered by Solana, has raised $2M in seed investment by Shima Capital, NetZero Capital, Big Brain Holdings, Bixin Ventures, Graviton Fund, CSPDao, Zoomer Fund, and LD Capital.
This week Divvy has secured $2M in funding to prepare for its Mainnet launch coming in the second quarter of this year. Divvy is a proprietary sportsbook and casino ecosystem secured by the Solana blockchain.
The funding contributes to building out the fully-remodeled Mainnet and additions to the core team to manage the launch and operation of the platform.
Divvy’s mission is to build a better gambling experience where the odds are in the bettor’s favor.
Yida Gao of Shima Capital said:
“We clearly see the need to fill this gap in sports betting. With so many downsides to traditional bets, Divvy is well-positioned to carry sportsbooks into the future. They have built a great solution for an incredibly challenging problem.”
Online gambling websites have seen massive growth this decade, due to their ease of use, overall accessibility, and the global pandemic that forced most of the world to quarantine at home for lengthy periods. At the same time crypto has taken the world by storm as the benefits of decentralized currencies are becoming widely known and their use mainstream (parallel to the rise of the Internet in the 1990’s).
Divvy combines the best of both worlds: the convenience of betting from anywhere in the world with the power of anonymity, lightning speed, fast payouts, and the ability for users to be the house. Divvy offers all of this without the excessive fees and intrusive personal identification requirements of a typical online sportsbook.
Carlos Liang, Founder and CEO
”It is our mission to help provide fair and transparent access to online sports betting. Our team has the expertise to solve today’s challenges and change the betting landscape for gaming and sports.”
Divvy offers a full array of betting opportunities for the Solana community. Users simply attach their crypto wallets to the web3 Dapp and place wagers in a few clicks. Wagers are immediately secured on the blockchain and once the contest is completed, payouts are quickly transferred directly into the users’ wallets. Investors can join the Divvy liquidity pool and reap the rewards of ‘Being the House’ in a next-generation sportsbook and casino. NFT enthusiasts will be pleased to find that Divvy offers a striking collection of NFTs that offer a wide variety of perks, including free bets, reduced vigorish, and access to invite-only events and contests.
“We are excited about our partnership with Divvy,” said Lawrence Tilli, Founder and Managing Partner at NetZero Capital. “We’re impressed with Carlos’s leadership and the team he has built around him. With the Solana backed infrastructure we have no doubts about the impact Divvy will have on crypto and sports betting.”
About Divvy
Divvy is the nextgen sportsbook and casino of the future that harnesses the power of Solana’s decentralized blockchain to create a Web3 betting experience unlike any other! Divvy is pioneering Web3 betting offering guaranteed payouts with instant settlements.
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