SX Network Closes Successful Strategic Funding Round

SX Network We are proud to announce the close of a successful strategic funding round. The round, led by Draper Dragon, also saw participation from CMCC Global, CMS Holdings and several angel investors. This pivotal financial milestone demonstrates SX Network’s leading role in redefining sports betting by leveraging blockchain technology.

Unprecedented growth and market leadership

At the core of its mission, SX Network seeks to revolutionize the sports betting industry by eliminating vig and dramatically improving fairness and transparency through the innovative use of blockchain technology. Its main platform, SX Bettinghas established itself as the world’s largest on-chain GambleFi project, with over $437 million in total bet volume and performing 10x better than its closest competitors. Despite dominating the on-chain betting landscape and appealing to non-crypto professional bettors seeking good odds, SX Bet has fallen heavily under the wider web3 radar. The recent strategic funding round and SX Bet’s unrivaled market performance heralds an exciting phase of increased visibility and influence, highlighting the platform’s readiness for explosive growth and expansion into the web3 ecosystem.

Expanding horizons with cross-chain launch

In a groundbreaking initiative, SX Bet plans to expand its reach by launching more than five new blockchains in 2024, starting with the upcoming launch of Arbitrum. This expansion positions SX Bet as the first cross-chain betting application that aims to attract a massive cryptocurrency-based audience across multiple blockchains. The platform plans to celebrate each blockchain launch by offering significant bet reductions to both new and existing users, further driving platform adoption and engagement.

Andrew Young, project lead at SX Network, expressed his excitement about the upcoming expansion: “We are excited to bring on these new partners as we prepare to launch the world’s first cross-chain betting platform. With the new funding and growing number of quality investors, SX solidifies its position as a global hub for sports betting liquidity and web3 betting “It allows us to expand our leadership in the space.”

About SX

The SX Network blockchain combines smart contracts with on-chain finance and prediction market protocols. It offers low-cost transactions and PoS-based consensus, making it ideal for: Developer with EVM compatibility. SX Network’s flagship platform, SX Bet, is the world’s largest blockchain betting platform, processing over 437 million bets. The platform is non-custodial and all bets are peer-to-peer and settled transparently on-chain. SX Bet is not available for use in the United States or other prohibited jurisdictions.

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