Arbitrum-based DuelNow receives $11M funding as Web3 betting heats up
DuelNow touts itself as a decentralized peer-to-peer betting platform designed to achieve lower fees and higher payouts by “taking the house of out the equation.”
DuelNow is the latest in a string of Web3 gambling venture deals amid surging activity on Polymarket.
According to an Aug. 1 announcement, DuelNow, a decentralized sports betting market, closed an $11 million funding round led by GEM Digital Limited. Venture capitalists are placing big bets on Web3 gambling.
Built on Arbitrum, an Ethereum layer-2, DuelNow is the latest in a string of venture investments in Web3 gambling
DuelNow touts itself as a decentralized peer-to-peer betting platform designed to achieve lower fees and higher payouts by “taking the house of out the equation.” The platform currently serves “NFL, MLB, NBA, and MMA fans” and plans to add additional betting products in the future, the company said.
DuelNow’s investors include Litcoin founder Charlie Lee and Billy Markus, the creator of Dogecoin, among others, according to the announcement.
