INTERVIEW: Entering The Metaverse with BetU CEO, Paul Rogash
Published: Jan 21, 2022 - Last Updated: Sep 26, 2022
As we move into 2022, play-to-earn, crypto gaming, NFTs, and the metaverse are all blowing up. There’s a vast and global digital transformation taking place, and it’s happening at an eye-watering velocity. Recently, almost every major developer and publisher in gaming have shown some kind of interest in crypto and NFT integration. Outside of that, new companies are popping up all around the world, seeking to take advantage of this seismic boom.
One such company is BetU, an all-new sports, esports, and crypto betting platform. This is an area that’s developing hand-in-hand with the metaverse and the gaming industries in general, with an abundance of opportunities for cross-vertical interaction. We sat down with the CEO of BetU, Paul Rogash, to get the lowdown on his company’s mission in the metaverse.
Introducing BetU, An Ecosystem
In the words printed boldly on its homepage, ‘BetU brings power back to the people’.
There are many avenues of opportunity within the ever-evolving and developing metaverse, and BetU seems poised to take advantage of them all. Following a brief scan through BetU’s website, you’ll see that this is a company focused on both disrupting and shaping the sports and esports betting industries. There’s a dense roadmap in place, which is backed by the power of the BETU token, and for the firm, the future looks bright.
From a play-to-earn platform and an esports betting site to a full-fledged metaverse incorporating a licensed hotel and casino, BetU has a grand vision. If the roadmap is to be adhered to, 2022 will see BetU deliver an NFT collection, marketplace, and an advanced, virtual world, featuring property NFTs and even a virtual nightclub.
At the start of the year, BetU proudly announced the release of its play-to-earn platform. It was dubbed the ‘world’s first play-to-earn sport and esport betting game’.
In order to learn about BetU from the source, we aimed a volley of questions at the CEO of BetU, Paul Rogash. Here’s what we uncovered.
Interview with Paul Rogash, CEO of BetU
ESB: In the last few years, you’ve been involved with some sizeable projects such as Cashaa and Sharder. What has pushed you to step out and lead such an ambitious project at the highest level?
Paul Rogash: I would have been crazy not to. With the esports industry growing exponentially, the potential in both play-to-earn esports gaming and real money betting was too great not to take immediate action. We have a real opportunity to be a market leader in the space.
ESB: Are there any plans in store to provide consistent, tangible growth to the BetU ecosystem and the token itself? How on-track is the team regarding the delivery of the roadmap?
Paul Rogash: Absolutely. Last week we released BetU Play-To-Earn, the world’s first play-to-earn sport & esport betting game. Our plan is to rapidly grow our user base for the game, which will have a direct impact on the token itself as players must hold the token to play. Our development roadmap has met all targets to date. We have had some licensing delays for our real money betting platform. However, we expect to be issued our gambling license in January 2022.
ESB: According to the roadmap for the BetuVerse, Q1 of 2022 will see the development of an NFT marketplace and a mystery box sale. What’s your long-term outlook on the general performance of NFTs, particularly as we move into 2022 and inevitably pass out of the massive, current boom.
Paul Rogash: I think NFTs will move from a hyped-up trend to be based more on real-world assets, such as real estate. NFTs with real utility will stand the test of time and their value will continually grow. The BetU Verse NFTs will be income-generating by providing owners a share of the gaming revenues.
ESB: How do you anticipate virtual casinos will perform? Do you and your team predict a broad enough adoption to make operating them financially viable?
Paul Rogash: I anticipate virtual casinos to perform very well. Over 530 billion US dollars is wagered online annually and that figure will continue to grow at over 10% per year. With the additional entertainment that we can bring through the metaverse element, it’s going to become more and more popular. Adoption will continue to rise as people are spending more time online and at home – events such as Covid19 have made online operations more financially viable than physical operations.
ESB: You’ve been quoted as saying that the ‘crypto projects that will succeed through 2022 will be the ones with real demand and actual usage’. With that in mind, what demand is BetU rising to meet, and do you anticipate real value in its usage?
Paul Rogash: BetU Play-To-Earn was built to capture the rise in demand for play-to-earn gaming. In 2021, we’ve seen Axie Infinity rise in value by over 26,000%. Our esport offering, which includes live streaming and live in-game risk-free betting, provides significantly more entertainment value than a game such as Axie. We’re super excited to be offering the world’s most popular esports, such as CS:GO, Dota 2 & League of Legends, which will translate into the enormous value of the BetU token.
ESB: Outside of the betting vertical, do you think there are concerns around the opposition to NFTs seen from the general, mainstream gaming community? Could this harm the BetU platform going forward?
Paul Rogash: Not at all. As mentioned earlier, the NFTs within our platform are not based on hype. They’re based on generating revenues for their owners. I personally don’t know anyone who doesn’t enjoy earning a passive income.
ESB: Right now, what would you say is the most exciting aspect of the Metaverse, and by association, the BetuVerse?
Paul Rogash: To be able to create the life of your dreams. We’re giving people a chance to do things they’re unable to do in the real world, for whatever reasons – fear, physical, or financial limitations.
ESB: In your opinion, what is the biggest challenge for betting companies when approaching the NFTs and crypto gaming world?
Paul Rogash: There is still a negative stigma around gambling, which to me makes no sense because crypto in many cases is a far greater gamble than betting on a sport or esport event. This was a key factor for the development of BetU Play-To-Earn. The game provides a solution to problem gambling globally by giving people the winning thrill and excitement of betting without the risk of loss.
Developing The Industry
As time goes on, digital adoption rates are increasing. Generally, the public is warming to the idea of blockchain-based technology, and along with that, cryptocurrency, NFTs, and play-to-earn. There’s an intense push by developers to integrate play-to-earn features into games, in order to give a little value back to the gamers themselves. Although we’ve seen a little resistance in recent months from the gaming community, it seems inevitable that these aspects will make up the future of gaming, and by extension, betting.
In a six-month period, countless developers and published emerged to express interest in blockchain technology. For instance, a survey conducted by insight agency, Opinium, revealed that 72% of game developers surveyed expressed a clear interest in using blockchain technology in their games. Out of that survey, 58% had already taken steps to introduce blockchain technology to their platforms and titles.
Furthermore, crypto betting has been a stable practice for a long while. There’s an option to deposit and withdraw using cryptocurrency on many of the world’s best betting sites. From all around the world, bettors are taking advantage of play-to-earn casino games, fusing traditional casino elements with the modern and progressive power of NFTs and the blockchain. Ultimately, the next step is the metaverse, fully immersing players in a thriving digital world, powered by the inherent security of the blockchain.
There may be a digital revolution on the horizon, and the likes of BetU might just be driving that revolution forwards.
