Bitspawn, a Cayman Islands-based blockchain project, is proud to announce its funding partnership with SMO Capital as part of its goal to make esports a more fulfilling venture for players across the globe. Venture capital firm SMO Capital partnered with Bitspawn as part of its private token sale
SMO Capital is an Asia-based venture capital fund that specializes in connecting vision with reality for blockchain companies and startups. Founded in 2020 by a group of partners familiar with blockchain technology, SMO Capital has, since its establishment, invested in and partnered with a number of well-known startups in the blockchain space. The VC firm is also proud to have invested in startups that are excelling in their chosen fields. This has pushed the group to invest more in promising options; something Bitspawn is proving to be.
With the partnership and funding from SMO Capital, Bitspawn is on a path to achieving its dream and goal, to make esports more profitable for amateur and semi-professional players who have been denied access to their winnings through the bureaucratic process involved in issuing payouts.
Read More: Agile Frameworks Receives Majority Investment By Long Arc Capital
In an interview with Eric Godwin, CEO of Bitspawn Foundation, he described the zeal behind the company’s goal saying, “As a video game player for over 20 years and an amateur competitive gamer, I have used the platforms that are out there and have been disappointed with the user experience and see a lot of room for improvement in esports software solutions. I have personally experienced being ripped off by event organizers, had to deal with the tedious game result submission process and slow payouts. I created Bitspawn to help the millions of players out there competing in esports that are getting burned by the platforms that they use.”
Through the Bitspawn Consensus and with adequate funding from partners, the blockchain technology company will be able to ease the payout bottleneck involved in the process by facilitating the creation of smart contracts that leverages its blockchain technology as well as its in-house proprietary backend. With this solution, winning players will be able to access their winnings fast and easily while also being able to withdraw real cash for their efforts.
Read More: Veem and Freightos Announce Partnership To Enable More Secure Global Sourcing for Small Businesses
To ensure that participants and organizers are protected, the Bitspawn token is secure and stable for use. All parties involved will also be protected by the company’s measures that ensure organizers, managers, and team owners can’t hoard the winnings after tournaments conclude.
With this technology in place and with support from SMO Capital, Bitspawn is on the path to creating a platform that offers protection to all parties involved in esports.
