BLUFF Secures $21M Funding, Launches On-Chain Betting Platform
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BLUFF has raised $21 million in strategic funding and advanced its next-generation betting platform to full launch, combining elements of sportsbook, casino, and prediction markets with blockchain transparency. The round was led by global blockchain fund 1kx, with participation from Makers Fund, Maximum Frequency Ventures, Delphi Ventures Founders, and notable backers including NBA champion and tech investor Tristan Thompson. The platform, built by a team of former executives from Stake, Bet365, William Hill, and Bodog, emphasizes speed, provable fairness, and community-driven engagement in the gambling industry.
The funding supports scaling operations following a strong beta phase that processed over 125 million bets, attracted more than 600,000 sign-ups, and maintained tens of thousands of daily active users within three months. BLUFF positions itself as a social-centric platform that integrates on-chain mechanics for verifiable outcomes, appealing to players seeking alternatives to traditional centralized gambling sites. While the announcement does not specify which blockchain networks it supports, its focus on transparency aligns with common GambleFi implementations that use smart contracts for settlement and provably fair systems.
This development highlights growing institutional interest in blockchain-based gambling outside regulated traditional markets. Operators benefit from enhanced trust through on-chain records, which can reduce disputes and appeal to crypto-native users. Players gain faster settlement times and greater visibility into game integrity than with opaque legacy systems.
Key Takeaways
- Institutional backing signals confidence in GambleFi's long-term viability, with experienced betting executives driving product development.
- Beta traction (125M+ bets, 600K+ users) demonstrates strong early demand for transparent, community-focused betting experiences.
- Scalable launch enables broader access to real-money wagering with integrated rewards, potentially pressuring centralized platforms to adopt similar transparency features.
The investment arrives amid increasing adoption of crypto in gambling across crypto-friendly jurisdictions, such as those licensed under the Curaçao eGaming framework, where blockchain enhances compliance through immutable records. BLUFF's approach prioritizes user experience with novel content and deep community integration, potentially setting a benchmark for future platforms in speed and engagement. Settlement times benefit from blockchain efficiency, offering near-instant payouts in supported cryptocurrencies while maintaining low transaction costs typical of modern networks.
Sources: Crypto Slate, Crypto Briefing
