Russian blockchain project Azuro attracted $3.5 million in investments from the world's largest funds

Russian blockchain project Azuro attracted $3.5 million in investments from the world’s largest funds

Azuro, created in August 2021, is a secure betting platform where the entire process is based on blockchain technology. Since its launch in test mode, the company has not only managed to gather an audience of 15 thousand players, who have made more than 400 thousand bets, but also attracted $3.5 million in investments from the largest crypto-funds in the world.

The current Azuro partners can be divided into two categories:

● Investment funds: Gnosis, Flow Ventures, Polymorphic Capital, Ethereal Ventures, Arrington XRP Capital, AllianceDAO (a.k.a. DeFi Alliance), Delphi Digital, Meta Cartel Ventures, Merit Circle and Clever Advertising;

● Venture capitalists and business angels: SevenX, OP Crypto, CitizenX, BR Capital, David Post, Alex Wirn, Sergey Chan.

“We announced a round for $3.5 million – and we collected checks for about $15 million, which is more than four times the planned amount. We had to turn down many investors, and even our most important partners had to reduce their checks. Some of them have expressed a desire to enter at a different estimate, and now we are considering the possibility of another round.”

Paruyr Shahbazyan

Azuro is a decentralized analogue of a bookmaker, it is a protocol that runs on the Ethereum blockchain.

In a traditional bookmaker’s office all control is in the hands of the bookmaker. He decides whether the bet wins, at what odds it played, to satisfy the request for payment of funds and when to make this payment. The player in this situation is completely dependent on the bookmaker’s integrity. This is the reason why online resources with player reviews and ratings are so popular.

At Azuro, every bet is made through a smart contract, guaranteeing a transparent transaction with mandatory payout of winnings. The smart contract will be automatically calculated according to the preset conditions. There is no centralized intermediary who can do something with the player’s funds. No one person can influence the calculation of bets and the payment of winnings. All information is stored in a distributed manner, which virtually eliminates data manipulation. As a result, betting becomes transparent and reliable.

Between the first and second quarter of ’22, the mainnet is scheduled to launch. As of January 2022, Azuro is running on the Rinkeby test network. For now, users cannot bet with real money, only USDT test tokens are temporarily available as currency.

My opinion

This is the moment when blockchain technology can take one area of life to the next level. After all, every one of us, when making a bet, has thought about whether we can trust a broker. Now, everyone will be able to check their honesty and be sure that they will not be cheated. I am waiting for the opening of Mainnet!

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Written by Kannnaf Mysterious
I am a very innovation-dependent form of life. I'm smart, but I don't wear glasses. I solve the Rubik's Cube in less than a minute. Probably the best beggy cryptomaniac in the world and my hobby is to start the day thinking that bitcoin will rise to $100k. To The Moon!
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