Rivalry Adds $TRUMP Meme Coin as Crypto Payment Method
Rhea-AI Summary
Rivalry Corp (TSXV: RVLY) (OTCQX: RVLCF) has announced the integration of $TRUMP, Donald Trump's official Solana cryptocurrency, as a new payment method on its platform. The implementation comes less than 24 hours after the cryptocurrency's release and ahead of the U.S. Presidential Inauguration on January 20th, 2025.
The $TRUMP token, currently valued at over USD $30 billion in fully diluted terms, will be available for deposits and wagering in jurisdictions under the Company's Isle of Man license. As part of the launch, Rivalry is offering special rewards through February 1, 2025, including a 20x multiplier on NUTZ (Rivalry's native token) earnings for users betting with $TRUMP.
This addition aligns with Rivalry's crypto-first approach, maintaining treasury holdings of various major cryptocurrencies and meme coins accepted on their platform. The company plans to continue expanding its cryptocurrency payment options to support its player base and growth in the crypto gambling segment.
Positive
- Quick implementation of $TRUMP token as payment method within 24 hours of launch
- Access to $30 billion market cap token userbase
- Strategic timing with Presidential Inauguration
- Special promotion offering 20x rewards multiplier
Negative
- availability only to Isle of Man license jurisdictions
- Exposure to volatile meme coin market
News Market Reaction
On the day this news was published, RVLCF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Global Crypto Casino Rivalry Becomes First Betting Operator to Accept U.S. President-Elect Donald Trump’s Official Solana Meme Coin $TRUMP for Deposit
TORONTO, Jan. 18, 2025 (GLOBE NEWSWIRE) -- Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, today announced it has added U.S. President-elect Donald Trump’s official Solana cryptocurrency ‘$TRUMP’ as an accepted payment method.
Ahead of the U.S. Presidential Inauguration on January 20th, Rivalry users are now able to deposit and wager using $TRUMP, a cryptocurrency on the Solana blockchain which currently has a fully diluted value of over USD
”Meme coins are attention monetized, and the release of $TRUMP just days before an Inauguration is a quintessential internet and crypto culture-driven moment which enabled it to eclipse
Additionally, Rivalry customers wagering on-site with $TRUMP will receive exclusive rewards through February 1, 2025 in recognition of the upcoming Presidential Inauguration, including multiplying the amount of NUTZ–the Company’s native token–players earn on every bet by 20x, a reflection of the inauguration on Monday, January 20, 2025.
With the acceptance of $TRUMP, along with a number of other major cryptocurrencies as part of Rivalry’s crypto-first approach, the Company has ongoing treasury holdings of various major cryptocurrencies and meme coins that it accepts as a deposit option. The Company will continue to add additional cryptocurrencies as needed to support its player base and continual expansion into the crypto gambling segment.
$TRUMP as a payment method will be available to Rivalry users in jurisdictions which apply to the Company’s Isle of Man license only.
About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Company Contact:
Steven Salz, Co-founder & CEO
ss@rivalry.com
Investor Contact:
investors@rivalry.com
Media Contact:
Cody Luongo, Head of Communications
cody@rivalry.com
203-947-1936
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.
Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s management’s discussion and analysis for the three and nine months ended September 30, 2024 under the heading “Risk Factors”, and other disclosure documents available on the Company’s SEDAR+ profile at www.sedarplus.ca.
No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Source: Rivalry Corp.
FAQ
When did Rivalry (RVLCF) start accepting $TRUMP token as payment?
What is the market value of $TRUMP token accepted by Rivalry (RVLCF)?
What special rewards is Rivalry (RVLCF) offering for $TRUMP token users?
In which jurisdictions can users deposit $TRUMP token on Rivalry (RVLCF)?
How long will Rivalry's (RVLCF) special $TRUMP token promotion last?
