By Alan Hatfield
Blockchain technology conglomerate BOTS, Inc. (OTC: BTZI) is investing in online gaming company XR Casino, Inc. in a push to reach consumers through the growing buzz around the metaverse.
The investment will allow BOTS to launch augmented reality, mixed reality and virtual reality-format casinos on the company’s online version of Las Vegas, the companies said in a statement. XR Casino’s platform will leverage AI and blockchain, and the company is testing versions of its initial games including Blackjack, Roulette and Slot Machine in the three formats. It also plans to launch social casino games and an NFT store in the second quarter.
“XR Casino’s proprietary technology and games deliver the immersive casino gaming experiences of the Metaverse to anyone with an AR-enabled smartphone, AR/MR glasses or VR headset,” said BOTS CEO Simon Rubin. “We believe AR will lead the way in connecting people to the Metaverse and through our strategic investment in XR Casino we will be able to bring together players using AR, MR and VR in our upcoming Vegas.mv Metaverse.”
The global VR gaming market is set to grow to as much as $52.7 billion by 2025, according to an April 2021 report from Brandessence Market Research, or around a quarter of annual gambling revenue generated by the Las Vegas Strip. Meanwhile, research by Mordor Intelligence indicates that the extended reality market is slated to register a CAGR of 62.7% over 2021-2026.
“We are excited to have Bots, Inc. as our first strategic corporate investor and look forward to launching our games on their Las Vegas-themed Metaverse,” said Dan Martinez, Founder and CEO of XR Casino.