Zach Bruch is the founder and CEO of MyPrize. My prize
Cryptocurrency casino MyPrize today emerged from stealth by raising $13 million in two rounds led by Dragonfly and Boxcars Ventures.
“Gambling never had an internet age,” said Zach Bruch, founder and CEO of MyPrize. luck. “It’s a multi-trillion dollar market, but if you look at the percentage that’s actually online, it’s less than $100 billion.”
Worth $140 million, MyPrize also received investments from Mechanism Capital, Arrington Capital, and a16z Scout. The company’s $5 million seed round closed in October, and in recent weeks it was revealed that its $8 million Series A had closed.
Today’s online gaming environment is characterized by isolated projects. Some sites offer casinos, while others offer streaming features for creators, he says Bruch. However, the statement said MyPrize wants to offer players an integrated, open platform that combines the best of online gaming and streaming. A single comprehensive platform introduces new ways for players to collaborate during games.
Mr. Bruch has been involved in the crypto space since 2010 and previously held leadership roles on the trading desks of Kraken, Cumberland/DRW, and JST Capital. In recent years, he has seen the stigma against both cryptocurrencies and gambling begin to fade, and now he wants to merge the two. “We are bringing real venture capital into this space for the first time.
Although MyPrize is a centralized company, a portion of the funds raised will be used to develop a native token that players will use to gamble while building the broader GambleFi ecosystem. The platform is expected to be released in the fourth quarter.
Compared to existing online casinos, MyPrize will be an immersive, community-driven experience “not possible before,” says Bruch. The company has evolved beyond just a single-player experience, creating a feature called “Bet Together” that allows viewers and gamblers to participate in the same bet.
“You’re sitting there by yourself, pulling slots by yourself,” he says. “We’ve made it parasocial by creating a feature where you can bet not just with your favorite creators, but with your friends in the community.”
“We are excited about the growth and potential of this category,” Rob Haddick, general partner at Dragonfly Capital, said in a statement. Creator economy. ”
