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Silicon Valley-backed crypto operator MyPrize has launched its online casino platform in international markets, along with a sweepstakes platform for US users.

The platform features integrated live streaming and multiplayer gameplay, allowing users to interact with content creators in dedicated rooms.

Who’s behind it?

The start-up has secured substantial backing from Silicon Valley venture capital firms, totalling $13m over two funding rounds, propelling the company to a total enterprise value of $140m.

MyPrize’s funding rounds were led by Dragonfly and Boxcars Ventures, with additional participation from investors like Arrington Capital, Pudgy Penguins CEO Luca Netz, and Blockchain.com CEO Peter Smith, among others.

MyPrize is led by Zach Bruch (pictured) as CEO. Bruch previously ran Recur, an NFT platform that raised a $50m Series A before closing its doors two years later, in August 2023.

Bruch was also one of the top traders using FTX and is one of nine people chosen by the US Department of Justice to serve on the FTX creditor’s committee to help recover the funds FTX’s millions of users lost.

How to they plan to disrupt?       

MyPrize aims to disrupt the online casino space by offering social interaction and bonding akin to a live casino experience.

Players can chat with their friends and stream themselves playing through MyPrize’s Bet Together technology, which allows creators to engage directly with their fans.

Players can also assemble a group of friends or join their favourite online streamer on MyPrize to play casino mainstays including blackjack, slots, roulette, Plinko, scratch cards, crash, mines, and more.

“We’re bringing all of the energy of a live casino online,” said Bruch.

“Not just gambling – the social interaction and bonding, the larger than life activations and celebrities – we’ve designed MyPrize to feel like walking down the Las Vegas Strip or stepping into a VIP room in Macau with your friends at your side,” he added.  

Over 150,000 users have already signed up for MyPrize and MyPrize US during the early access period.

What’s new?

MyPrize promises creators uncapped earning potential and a departure from traditional ad sales models.

Steamers can generate profits by onboarding new users, but they also earn rewards for interacting with their community and keeping them engaged.

“MyPrize is a platform that leans into the strengths of online communities – these massive communities that have managed to forge deep interpersonal connections within message boards and chat rooms,” said Bruch.

“I can’t wait to see what these creators can accomplish with tools built specifically for them that let them interact with their fans on a new, deeper level.”

Creators like TSteezy, Solace, and Atomic, along with partnerships with gaming organization 100 Thieves, have already joined the platform.

MyPrize users will be able to withdraw their in-game USD as cryptocurrency, while MyPrize US users will be able to enter sweepstakes contests for the chance to win real prizes, including cryptocurrency.

This, the company, believes will turn MyPrize into a “major driver for onboarding new users into the Web3 ecosystem.”

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