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FoggyStar crypto casino attracts $5m investment to develop digital gambling token

FoggyStar casino has received an injection of $5m from Japanese and Canadian investors, as the crypto-first operator scales up plans to launch its own gambling token and grow the brand. 

foggystars

FoggyStar casino has received an injection of $5m from Japanese and Canadian investors, as the crypto-first operator scales up plans to launch its own gambling token and grow the brand. 

Launched earlier in 2022, the project has acquired a library of crypto gambling games, developed by the likes of Play’n Go, Pragmatic Play and NetEnt. A bonus gaming product, specifically designed for the crypto community, has also been released. 

On the project, FoggyStar commented: “We strive to create not just a product, but to follow the industry trends, while bringing the interests of our target audience to the forefront. The project is focused on the users and the security and transparency of the infrastructure that surrounds them.  

“Our team aims to improve the project using innovative technologies and methods that will lead to a completely new game experience.” 

Tapping into blockchain technologies, which helps to keep gambling transparent and decentralised, FoggyStar also plans to create new casino experiences in the future.  

With a raft of gambling operators investing in the wider cryptocurrency, NFT or metaverse marketplaces, FoggyStar believes this is one way of quickly growing its audience. 

David Baszucki, CEO, Roblox Corporation, said: “In the course of 2022 and beyond, the metaverse will be widespread and become a utility for the human co-experience. People will meet not only to play a game, but also to watch a new movie trailer or laugh at a user-generated video.” 

Recently, DraftKings collaborated with Hash Zero and Polygon to earn ‘staking’ rewards; those which can be gained from helping blockchains verify crypto transactions. 

In March, BetOnline joined a growing pool of operators by accepting cryptocurrency as a payment option, adding ApeCoin to the list. 

Finally, in December 2021, a pitch was entered for a new $3bn crypto casino in New York, with the project backed by UE Resorts International.

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