Brisbane-based eSports betting platform Skrilla raises $800,000 through an ICO to take platform to the blockchain

Brisbane-based online betting platform Skrilla has raised $800,000 via an initial coin offering (ICO) on the Ethereum blockchain ahead of a soft launch into US markets next month.

Skrilla was created by founders Damon Oudejans, Nick Heaney, and Riad Chikhani – the founder of parent company GAMURS, which raised $3.5 million in September.

The startup operates in the emerging electronic sports – or eSports – space, which is competitive video gaming. The Skrilla platform allows users to create fantasy teams of various competitive players, with customers then winning rewards based on how well those players perform.

Taking the platform to the blockchain was a decision the founders made just four months ago, with Oudejans and Heaney telling StartupSmart the process has been an “incredibly steep learning curve”.

Tokenising the Skrilla reward system on the blockchain gives both the users and the company significant flexibility, the founders say.

“Tokenising the platform means we can get rid of traditional currency and cut out things like transaction fees and banks, and we can provide users incentives to grow the platform,” Heaney says.

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Dominic Powell - Smart Company - 22 Nov 2017

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