Blockchain-based company goes live with its first use case for decentralized online betting, turning the odds in favor of the player.
The demand for eSports and fantasy iGaming is on the rise, although with traditional betting, “the house always wins”. The New Blockchain-based company, Herosphere.gg , became HERO’s decentralized use case for its proprietary HEROcoin (PLAY cryptocurrency), a token looking to turn the odds in favor of the player. The chosen beta testers could sign up to buy in over smart contracts and secure betting opportunities on selected tournaments and online game contests.
A new era of transparency in the iGaming world with Blockchain
With over 300 testers from all over the world trying out herosphere.gg in a closed environment for a limited period, HEROcoin opened the doors to the first Blockchain-based platform for eSports and fantasy betting.
The closed beta version of the Blockchain platform has undergone three main phases so far. According to HERO, every feature was developed and shaped by the chosen testers, who provided continuous feedback to perfect the platform. October 23rd it switched from the Ropsten test network to Mainnet for the first time in this closed environment. After being integrated successfully on herosphere.gg, beta testers were invited to earn HEROcoins by reporting bugs and taking surveys.
The mainnet launch has been achieved
The first real-life use case contest for herosphere.gg started on October 20th, when the platform launched its Mainnet powered by HEROcoin (PLAY). The contest ended on October 27th when 300 closed beta users got a chance to test the platform. According to HERO, it was the last step the company has taken before the official breakthrough of its fully-decentralized worldwide iGaming platform.
One of the most attractive parts for gamers is that every HEROcoin (PLAY) token holder, whether he/she chooses to bet or never use the tokens, will get a reward for being part of the project. 1% of the token supply from each pot, also known as a general reward pot – is reserved for all ecosystem users. The reward is allocated to each user’s wallet address that already has PLAY tokens.
League of Legends World Championships live on herosphere.gg with a 5000$ prize pool in PLAY
Over the course of three months, herosphere.gg has had over 300 closed beta testers. The first contest to go live for the public on the Mainnet will be the League of Legends World Championships. Users can sign up and use their HEROcoins (PLAY tokens) to bid on their favorite eSport games. The winner of the contest will win the grand prize pool of $5000 in PLAY tokens. According to herosphere.gg, the iGaming platform is ready to open its gates to the world in an open beta version made available to everyone. Additional available games are DOTA2, Overwatch, and Counter Strike: Global Offensive.
HEROcoin (PLAY token) is the proprietary cryptocurrency available on herosphere.gg. Its purpose is to act as a peer-to-peer (P2P) online betting medium users can leverage on their favorite online games. HERO has come up with their own, unique way of an on-platform wallet handling to make sure every user provides a valid Ethereum address to be able to make transfers in both ETH and PLAY tokens. According to HERO, the infrastructure required to create an on-platform wallet has been successfully achieved.
The concept for HEROcoin was born out of a need to change the online betting and fantasy eSport industry; a flawed industry where the biggest part of the pot goes to bookmakers. On a global scale, the eSports market generated a global revenue of $492.7 million in 2017. With herosphere.gg, HERO aims to decentralize it by allowing gamers and betters to get a fair share of the big prize. So far, there have been over 270,000 registered users on the platform and over 1,000 users streaming daily. HERO’s mission is to set a new level of trust, security and transparency still left unknown in the online betting world.