Press ReleaseSX Network Closes Successful Strategic Funding Round

SX Network Closes Successful Strategic Funding Round

Toronto, Canada, 18th March 2024, ZEX PR WIRE, SX Network is proud to announce the closure of a successful strategic funding round. Spearheaded by Draper Dragon, the round also saw participation from CMCC Global, CMS Holdings, and several angel investors. This pivotal financial milestone is a testament to SX Network’s leading role in leveraging blockchain technology to redefine sports betting. 

Unprecedented Growth and Market Leadership

At the heart of its mission, SX Network seeks to revolutionize the sports betting industry by eliminating vig and dramatically improving fairness and transparency with the innovative use of blockchain technology. Its flagship platform, SX Bet, has established itself as the world’s largest on-chain GambleFi project, boasting over $437 million in total betting volume and outperforming its nearest competitor tenfold. Despite dominating the on-chain betting landscape and appealing to professional, non-crypto native bettors seeking superior odds, SX Bet has largely flown under the broader web3 radar. The recent strategic funding round and SX Bet’s unparalleled market performance underscore the platform’s readiness for explosive growth and expansion into the web3 ecosystem, signaling an exciting phase of increased visibility and influence.

Expanding Horizons with Cross-Chain Launch

In a groundbreaking initiative, SX Bet is set to expand its reach by launching on over five new blockchains in 2024, starting with its launch on Arbitrum in the upcoming days. This expansion positions SX Bet as the first-ever cross-chain betting application, aiming to attract a vast crypto-native audience across multiple blockchains. The platform plans to celebrate each blockchain launch with significant bet drops 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 expansions: “We’re excited to bring on these new partners just as we’re getting ready to launch the world’s first-ever cross-chain betting platform. This influx of new funding and high-caliber investors perfectly positions SX to solidify its status as the global hub of sports betting liquidity and to extend our leadership in the web3 betting space.”

About SX 

SX Network blockchain combines smart contracts with an on-chain treasury and prediction market protocol. It offers low-cost transactions, and a PoS-based consensus, making it ideal for developers with EVM compatibility. SX Network’s flagship platform, SX Bet, is the largest blockchain betting platform in the world, having processed over 437,000,000 million in betting volume. The platform is non-custodial, all bets are peer-to-peer and settled transparently on-chain. SX Bet is not available in the United States or other prohibited jurisdictions.

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