Crypto casino FoggyStar has been injected with a $5m investment to enhance its brand development and token design.
Launched at the beginning of 2022, the company’s investment, which came from Canadian and Japanese backers, came with additional plans to create features for casinos that will see future projects work as “openly as possible” and utilise blockchain technology.
A spokesperson from FoggyStar stated: “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.”
The alpha version of the product already has a library of crypto games developed by game providers such as NetEnt, Play’n GO, Pragmatic Play, and a bonus program specially designed for the crypto community.
This approach will significantly scale the audience, increase user engagement and the level of trust in the casino and igaming industry. Blockchain makes the entire gameplay and algorithms “under the hood” transparent: transactions and actions of both the player and the casino are displayed in a public ledger.
Moving forward, the company predicts that it will be “one of the first” to create an igaming casino within the metaverse.
“In the course of 2022, the metaverse will be widespread and become a utility for the human co-experience,” David Baszucki, CEO of Roblox Corporation, told Wired in an article. “People will meet not only to play a game, but also to watch a new movie trailer or laugh at a user-generated video.”