Novomatic’s interactive division Greentube has outlined its entry into the esports ecosystem via the acquisition of esports betting provider and decentralised igaming solution Hero.
The purchase is designed to provide a diversification of the group’s product offering, with the deal representing Greentube’s maiden entry into esports and blockchain.
Michael Bauer, CFO/CGO at Greentube, explained: “At Greentube, we aim to hold a leading position when it comes to adopting new trends and technology, and with Hero’s unique products, we have acquired an innovative and exciting business that will see us move into uncharted territory.
“The esports and blockchain space offers a lot of possibilities for the gaming sector and will open up new doors for us as a company. We are excited to explore the possibilities that lie ahead together with Hero.”
Austria-based Hero was founded with an aim of disrupting the online betting industry through its blockchain-powered esports platform herosphere.gg, which allows players to create their own contests and compete against each other on the outcome of games.
Paul Polterauer, CEO at Hero, stated: “Our objective has always been to change the nature of online betting and bring innovation and new technology into the sector by offering something completely different. Our products challenge the old concept that the house always wins and instead let users build a community that better benefits them.
“Being acquired by such a renowned company as Greentube is a huge testament to the hard work we have put into developing and evolving our products. Together with Greentube, we will be able to reach new heights.”
The supplier’s proprietary virtual token Herocoin serves as the currency for the platform, aiming to ensure that all transactions are transparent and secure. The platform boasts a user base of over 300,000 players, and, as well as esports, is designed to be used for any kind of pooling, betting, fantasy, or poker systems.
Philip Peinsold, CTO at Hero, added: “Our Heronetwork was created to challenge the conditions and lack of transparency and trust that we see with traditional betting systems today.
“Through our blockchain technology, we have succeeded in our objective to revolutionise the betting market and to bring back the social element with the peer-to-peer approach.
“Greentube shares our vision to innovate the industry, and we are thrilled to now join forces. Together, we will continue to evolve our products and offer players something different.”