In a huge collaborative move, Polygon has teamed up with leading crypto prediction market platform SportX to offer a $1.5m reward incentivisation pool for crypto gamblers.
SportX – a product of the SX Network – has pushed an incredible 1,600% growth in 2021.
The rapid success can be tied to both the massive surge of interest in crypto-based iGaming, as well as the significant scalability afforded by the Polygon partnership.
$1.5m is the largest pot ever put forward for Bet Mining – the Web 3.0 play-to-earn process of being rewarded with platform native tokens by placing winning bets as a participant on the dApp.
Polygon has contributed $500,000 to the fund, which has been met with an additional $1m in prize funding from the SX Network.
Shark Tank’s Kevin O’Leary backs SportX
The move has excited many in the iGaming space, perhaps none more so than project backer and TV star Kevin O’Leary who is, needless to say, supportive of the announcement.
“I love prediction markets, I love blockchain, and SportX is a fantastic company doing great things in both,” he said.
“It’s great to see so many great ideas being built on highly scalable, modern blockchains like Polygon.
“I’m bullish on SportX, bullish on Polygon, and bullish on the future!”
SX has been making waves as of late, with $76m in bets facilitated this year.
As one of Web 3.0’s first regulated applications and hosts to more than 500 prediction markets daily, the dApp is a rising star in the Polygon ecosystem – something that was reflected in the comments of Polygon co-founder Sandeep Nailwal.
“SportX is one of the fastest growing platforms in blockchain, and we are happy to be working together,” he said.
Polygon has also played a fundamental role in creating the scalability needed for the SportX platform to flourish.
“We provide the Ethereum scalability and transaction speed necessary for platforms like SportX to achieve their ambitions,” he added.
Read more: Polygon (MATIC) scale growth and focus on NFTs.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.