TORONTO, Jan. 18, 2025 (GLOBE NEWSWIRE) — Rivalry Corp. a company or Competition) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sports betting and iGaming operator for digital-first players, announced today that it has added US President-elect Donald Trump's official cryptocurrency “$TRUMP” as an accepted payment method.
Ahead of the US Presidential Inauguration on January 20, Rivalry users can now deposit and wager using $TRUMP, a cryptocurrency on the Solana blockchain that currently has a fully diluted value of over US$30 billion. The addition of $TRUMP as a payment method on Rivalry comes less than 24 hours after the president-elect released the cryptocurrency on Friday evening.
Meme coins are being monetized, and the issuance of $TRUMP just days before the inauguration is a perfect moment driven by internet culture and cryptocurrencies, enabling it to surpass $30 billion in fully diluted value shortly after its debut, said Steven Sales, co-founder and CEO of Competitive Company. The rapid deployment of $TRUMP as a deposit method in less than 24 hours is a testament to our ability to identify and leverage these global cultural moments, put them into our core cryptocurrency gambling experience, and deliver unique experiences to our customers. Users.
Additionally, Rivalry customers who bet on the site using $TRUMP will receive exclusive rewards through February 1, 2025 in recognition of the upcoming presidential inauguration, including a 20x doubling of the amount of NUTZ that players earn on each bet, a reversal of the inauguration Monday, January 20, 2025.
With $TRUMP accepted, along with a number of other major cryptocurrencies as part of Rivalry's crypto-first approach, the company has ongoing treasury holdings of several major cryptocurrencies and coins that it accepts as a deposit option. The company will continue to add additional cryptocurrencies as needed to support its player base and the continued expansion of the crypto gambling sector.
$TRUMP as a payment method will only be available to Rivalry users in jurisdictions that apply to the Company's Isle of Man license.
About competition
Wholly owned and operated by Rivalry Corp, Rivalry Limited is a leading sports betting and media company offering fully regulated online betting on eSports, traditional sports and casino for the digital generation. Headquartered in Toronto, Rivalry operates a global team in over 20 countries and counting. Rivalry Limited has held an Isle of Man license since 2018, which is considered one of the leading online gambling jurisdictions, as well as online gaming registration in Ontario, and is currently in the process of obtaining additional state licences. Through world-class creative execution, brand positioning in online culture, a native cryptocurrency token, and clear market leadership among digital early adopters, the competition is shaping the future of online gambling for a generation born online.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contact the company:
Steven Sales, Co-Founder and CEO
ss@rivalry.com
Investor contact:
investors@rivalry.com
Media Contact:
Cody Longo, Head of Communications
cody@rivalry.com
203-947-1936
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This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of current or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as anticipate, achieve, could, believe, plan, intend, objective, ongoing, ongoing, estimate, forecast, anticipate, project and similar words, including the negatives. Indicating future results or that certain events or conditions may or will occur. These statements are just expectations.
Forward-looking statements are based on the opinions and estimates of the Company's management on the date the statements are made based on information available to the Company. Various factors and assumptions are applied in drawing the conclusions or making the expectations or projections set forth in the forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown variables, risks and uncertainties, many of which are beyond the Company's control, which could cause the Company's actual performance and results to differ materially from any future expectations. performance or results expressed or implied by these forward-looking statements. These factors include, among others, regulatory or political change such as changes in applicable laws and regulations; Ability to obtain and maintain required licenses; The esports and sports betting industry is a highly regulated industry; the complex and evolving regulatory environment of the online gaming and gambling industry; The success of eSports and other betting products is not guaranteed; changes in public perception of esports and the online gambling industry; failure to retain or add customers; The company has a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; Dependence on management; reliance on third parties and external networks; exchange rate risk; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the impact of capital market conditions and other factors on the availability of capital; competition, including from more established or better-financed competitors; and general economic, market and business conditions. For additional risks, please see the Company's management's discussion and analysis for the three and nine months ended September 30, 2024 under the heading Risk Factors, and other disclosure documents available on the Company's SEDAR+ profile at www.sedarplus.ca.
No assurance can be given that the expectations reflected in the forward-looking statements will prove to be correct. Although the forward-looking statements contained in this press release are based on what management of the Company believes, or believes at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be Other factors make the results not expected, intended, or intended. Readers should not place undue reliance on forward-looking statements and information contained in this press release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update any forward-looking information and/or forward-looking statements contained or referred to herein, except in accordance with applicable securities laws.
Source: Competition Company
Source: Competition Company
