KOSDAQ-listed company Byu Technology (CEO Jin-Yeop Lee) announced on the 18th that it has acquired a 15% stake in UtopiaGames, which is promoting the opening of the world's first 'blockchain-based online social casino,' and is significantly expanding its business scope to the global gaming market.
UtopiaGames, in which Byu Technology has invested, is a global game company preparing to launch Vegastopia, an online social casino platform developed based on blockchain technology. 'Vegastopia' is an online casino platform that uses online avatars to provide an environment similar to real casinos, allowing various psychological strategies such as bluffing to be expressed through 3D avatars.
Global casino companies that join the Vegastopia platform can open their own casinos and provide game services with maximized reality. Additionally, as the advantage of expanding services through sales and advertising in the casino world within Vegastopia became known, many global partners who had hesitated to enter the social casino market are reportedly requesting to join the platform in large numbers.
Users can communicate with global gamers through the platform based on Digital Personal and enjoy comprehensive entertainment such as browsing item shops, treasure hunts, speed lotto, and game spectating.
The global social casino market rapidly grew to a scale of 64 trillion KRW during the COVID-19 pandemic. Accordingly, over 3,000 offline casinos in more than 100 countries, as well as hundreds of thousands of hold'em pubs, are reportedly engaging in business connections with social casinos.
A company official stated, "Vegastopia, an online social casino platform operated based on the metaverse and blockchain, is the world's first with very high growth potential," adding, "It is designed so that all game players mutually verify each other through blockchain, fundamentally blocking card forgery and alteration, thereby solving the trust issues of online gambling through blockchain."
Meanwhile, Vegastopia is scheduled to open across Southeast Asia, France, and Mexico, and plans to expand its services to more than 150 countries worldwide, including the United States and Europe, in the first half of next year. To this end, it is pursuing distribution contracts with leading global game publishing companies located overseas, with an announcement expected soon.
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