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SharpLink Gaming, a U.S.-based sports betting and iGaming affiliate company, has announced an aggressive Ethereum treasury strategy, filing with the SEC to offer up to $1 billion in stock to fund large-scale ETH purchases. The firm initially secured $425 million in a private placement led by Consensys Software, with Consensys CEO Joe Lubin stepping into the role of Chairman at SharpLink Gaming. The company aims to become the largest publicly traded holder of Ethereum. Industry observers note that the potential revenue from ETH price fluctuations could surpass SharpLink's current annual income or losses, while also providing substantial growth capital. Separately, Shards Protocol, a Web3 user acquisition platform, raised $2 million in funding backed by investors including Animoca Brands, Kyber Ventures, and Yield Guild Games to expand its Aura Web3 reputation layer.
Very interesting to see an iGaming affiliate business acquire so much ETH as part of its treasury strategy. The potential revenue from ETH swings could quickly dwarf its current annual income/losses. However, it should also produce a lot of growth capital for the business. Very
JUST IN: Onchain Clout Just Got Real 🗞️ @ShardsOfficial just raise $2M to expand Aura — a Web3 reputation layer that turns your wallet history into badges, scores and real rewards. Backed by @Animocabrands, @KyberVentures, @YieldGuild & more! https://t.co/OXz5RmNuN5
Shards Protocol $2M Funding Round⚡️ 📑 About: @ShardsOfficial is the user acquisition protocol for Web3, combining targeted ads, quest-based engagement, and community tokenization. 🤝 Investors: @YieldGuild, @animocabrands, @KyberNetwork, Firex Capital, BasedVC, Zaiken https://t.co/cgGIIwBI3r