A fund lead by Overwolf and Intel awarded Arena Match a $100,000 developer grant earlier this year to begin development of its skill betting esports app for popular PC games. In its press release dated August 08, Arena Match said they are currently supporting cryptocurrency skill-betting for popular games like PlayerUnknown’s Battlegrounds, Fortnite, Apex Legends and Counter-Strike: Global Offensive.
Since receiving grant funding, blockchain-based esports company Arena Match has successfully completed a 30 day esports application beta with its development partner Overwolf, a PC app store based in Tel Aviv, with a community of 15 million active users.
“We continuously look for opportunities to help developers create awesome experiences that make today’s top games even more fun to play. We’ve designed the fund’s evaluation process to be simple and fast so that developers can focus 100 percent of their efforts on making the best possible application,” said Uri Marchand, CEO at Israeli company Overwolf.
The fund will not receive shares in the company. The startup gets the investment and pays it back via revenue sharing if the app is monetized. Developers will build their app and chat with Overwolf on a monthly/bi-monthly basis to track progress and see how and where Overwolf can help. Overwolf will also offer product advisory, monetization services, technology, promotion, and distribution.
In addition to building esports applications, Arena Match is also launching its own deflationary Ethereum-based cryptocurrency token AMGO. The deflationary token model was selected to attempt to solve the Token Velocity Problem that most token projects have. Each time a deflationary token is transferred a percentage of the transaction is destroyed which reduces the circulating supply automatically and increases the tokens rarity.
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Website: https://ArenaMatch.com
Esports PC App: https://www.overwolf.com/app/arenamatch-ArenaMatch
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