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Gaming Innovation Group – Minutes from Special Meeting of Shareholders – European Gaming Industry News

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The global betting and predictions market is expected to grow to over $92 billion by 2023 as new players, nations, and states embrace the industry. Huge economies such as the U.S. have long prohibited gambling but in 2018, some states legalized the practice, adding $1.5 billion to the global recorded figure of online betting revenue by the end of 2020.

Image source: Azuro

With many other states expected to follow the path, the gambling industry may surpass the predicted figure – $100 billion in annual revenue being the target by the end of 2023.

In light of the explosive rise in sports betting during the pandemic, many decentralized betting protocols have come up trying to sway users and players towards blockchain-based prediction markets. On Wednesday, Azuro, a decentralized DAO of betting and prediction markets, announced a successful $3.5 million seed funding round led by top VCs and angel investors ranging from DeFi, GameFi, traditional betting markets, and other blockchain-related areas.

The seed investment round was led by three companies namely Gnosis, Polymorphic Capital, and Flow Ventures. Other investors in the round included Ethereal Ventures, Arrington XRP Capital, AllianceDAO (a.k.a. DeFi Alliance), Delphi Digital, Meta Cartel Ventures, Merit Circle, and Clever Advertising.

Since the launch of decentralized prediction platforms in 2017, the space has rather stagnated despite the demand from players and the crypto ecosystem skyrocketing to a $3 trillion market capitalization. While many attempts have been made to make them work, most of these platforms have failed terribly in delivering on the fundamentals that Web2 betting companies capitalized on including an array of events, deep liquid markets, competitive odds, and multiple betting options. Additionally, current blockchain-based betting solutions suffer from single liquidity providers, product depth, and a bad UX for their players.

The latest capital injection into Azuro aims to solve these problems by launching a transparent, trustless, and decentralized platform. Currently, liquidity providers (LPs) on prediction markets have to start markets manually, set the odds and seed liquidity to each market they create. This means the LPs hold all the betting risks while having little incentive to do so. This has caused massive capital and liquidity exiting the decentralized prediction markets – as it happened with Gnosis, a partner of Azuro.

Furthermore, prediction markets are inefficient for bets with 3 or more outcomes. Most are bound to stick with YES/NO markets, which is dramatically insufficient especially for sports and related bets with more than two outcomes. Lastly, most of these platforms face regulatory pressure and geographical constraints, which could impact the growth of betting markets or even see them shut down.

Unlike its competition, Azuro is building a new protocol to enhance liquidity provision and minimize the betting risks for LPs on the platform. The platform employs a “pooled liquidity structure”, similar to DeFi protocols, which means LPs will not have to manually create markets and are not exposed to the betting market’s systematic risks. Instead, the risk is spread across all betting markets on the protocol, and therefore dramatically reduced for the LPs.

Additionally, the funds will be used to build a friendly UX architecture that allows for the full depth of the betting product available at centralized sportsbooks and a classic frontend, similar to traditional betting markets. Unlike most of the decentralized prediction markets today, Azuro will also allow users to easily set up multiple betting options, moving from the binary “Yes/No”, currently widely spread across decentralized prediction markets.

The decentralized betting governance protocol

Over the past year, DAOs have become the norm in the crypto industry, allowing participants on the platform to vote on proposals made to improve or upgrade the protocol. Similarly, Azuro plans to launch its DAO to reduce the external influence from regulators and authorities.

According to a statement, the platform holds liquidity as the base infrastructure layer with players and customer interactions built on top of it. This approach “outsources much of the direct-to-consumer efforts and relieves Azuro from most of the regulatory, KYC, legal and operational lift”, the statement further reads. Azuro breaks the role of traditional bookmakers into smaller roles, much more attainable for smaller participants. Azuro connects these participants in an elaborate dance thus providing players with a better experience in a decentralized way.

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Yggdrasil and Bang Bang Games look to find a festive pot of gold in Rainbow Power Potz UltraNudge™ – European Gaming Industry News

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Yggdrasil and Bang Bang Games have partnered for a thrilling adventure in Rainbow Power Potz UltraNudge™. Currently decked out with a winter wonderland theme, this skin will thaw on the 1st of January to reveal a more traditional Irish theme!

The 5×4, 40 payline game sees players look to land a leprechaun on the reels, as he acts as a Wild. Any win that includes the Wild will see the UltraNudge mechanic triggered, which nudges all winning symbols down one reel until no more wins are possible.

Above the reels is a prize carousel which shifts after every spin and nudge. The spots above the reel can contain either a cash prize, Free Spins, or a ‘Win All’ option.

If a Power Pot symbol lands on the reel directly below the prize, it is awarded. Power Potz can appear on reels 1,3, and 5 in base play, and the entire grid in the Free Spins mode.

Win All rewards can be any prize type and are indicated by an additional gold frame. It awards all prizes on the carousel.

In the bonus round, Power Potz are stacked while extra spins can be awarded, adding an additional one for every active pot.

When the Free Spins feature launches, players have the option to gamble for more spins or accept the current number and start the bonus.

Rainbow Power Pots UltraNudge also offers a Bonus Boost, increasing stake by 50% to give an increased chance of triggering the Free Spins, as well as ensuring Win All tiles appear in base play.

In certain regions, players can always progress directly to the bonus through the Buy Feature.

The title is powered by GATI, Yggdrasil’s state-of-the-art technology enabling partners to employ the preconfigured, regulation-ready, standardised development toolkit to consistently produce cutting-edge content followed by rapid distribution.

Stuart McCarthy, Head of Product & Programs at Yggdrasil, said: “Rainbow Power Potz UltraNudge brings an exciting mechanic to players and combined with the fantastic Prize Potz, it provides an engaging and exciting slot experience.

“We strive to add innovative, forward-thinking content to the YG Masters offering, and our partnership with Bang Bang Games has yet again allowed us to achieve this aim.”

Frank McPolin, Managing Director at Bang Bang Games, said: “Our latest launch allows us to combine a distinctly Irish theme with the festive season, as well as bringing some fantastic ideas to players. We’re extremely pleased with Rainbow Power Potz UltraNudge, and eagerly anticipate our next collaboration.”

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Riot outlines League jungle changes and hints at what’s next for the role

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The jungle saw the biggest shift in the League of Legends preseason this time around, and now Riot Games has gone into detail about the role.

On Nov. 7, League game designer Ezra “Phlox” Lynn shed some light on the jungle changes in a State of the Jungle dev blog. He explained three main aspects of the role, including counter-jungling, optimizations, and pathing. He also hinted at what’s next for the jungle in the coming months.

When it comes to counter-jungling, Phlox admitted it’s a pivotal part of the jungle role, and it’s been a hot topic ever since the preseason changes were first revealed. The devs are trying to prevent early invades because it’s a “miserable experience” to be on the receiving end. Intentionally, the devs want to make counter-jungling less regular, and more high-risk, high-reward. If executed properly, players will get significantly ahead due to the Smite changes, but with the other camp and pathing changes, counter-jungling is just not as easy to execute as it once was.

Since preseason launched with Patch 12.22 on Nov. 16, Smite is now enhanced by the number of camps you clear instead of how often you use it. As a result, to be effective in counter-jungling, players need to take down a few of the enemy’s camps to come out ahead.

Another change that Phlox explained was optimization. Riot toyed around with the leash ranges and camp clear speed so single-target and AoE junglers could be on even ground.

In the preseason, the devs also modified some camps like Krugs and Gromp, due to the fact that the first one was almost always skipped in pathing, while the second was pivotal thanks to the heal it provided. Scuttlecrab’s spawn timer was also changed. The devs explained that they wanted to create more pathing options for both faster and slower clearers with these updates, diversifying the possible options.

All in all, the jungle saw many updates with the preseason update. Riot admits that it’s never easy to ship so many with a single patch. The devs are now monitoring the game and collecting data to potentially release hotfixes to keep everything in working order.

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Hamburg Games Conference announces first speakers for 2023 edition – European Gaming Industry News

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The reframing of Innovecs Games as a sub-brand is aligned with the significant growth and transformation taking place within the Innovecs gaming practice. Along with the brand identity update, it embodies the energy and enthusiasm of the entire team and demonstrates the dynamism of Innovecs gaming studio.

Innovecs undertook this launch to officially position its Games Studio’s services and expertise in the global Game Development market. For the past seven years, the team has been steadily developing to eventually mark a major milestone in its evolution as a sub-brand of Innovecs.

“Since the inception of a specialized vertical in 2015, Innovecs Games has morphed into the cutting-edge company realm, with a team helping create game development solutions for more than 50 clients in 15 countries. During this time, they have developed over 200 projects, assisting game studios and startups in building innovative games. This success made us rethink our image in the gaming tech arena and intensify this vertical as a sub-brand”, — Alex Lutskiy, Founder and CEO at Innovecs, commented.

As of 2022, Innovecs Games has provided a full range of end-to-end game development solutions for clients such as Zynga, JamCity, Warner Bros. Games, Gameloft, etc. The team’s work is divided into two areas: game development (including mobile games, artwork, 3D characters & environment design, animation, playable ads) and iGaming (focused on platform development).

Innovecs Games also sought to showcase its growth in the past year with new brand elements, including the new logo and motto. Throughout its history, Innovecs Games has owed its evolution to the team steadily improving both service and business processes while consistently expanding expertise areas. Such a meaningful progression required re-evaluation of how Innovecs Games should appear to team members, partners and customers. The visual component of the sub-brand is coherent with the depth of the team’s experience, values and ideals they are committed to.

Creating a visual concept of the sub-brand in particular, the team strives to accomplish its primary purpose of becoming the best partner for flagship game development studios. Innovecs Games remains a credible, approachable, and predictable ally for customers across game development industry”, — says Oleksii Isaiev, Head of Innovecs Games and VP of Delivery at Innovecs.

The exceptional capacity of Innovecs Games is rooted in the team’s passion for games, an earnest desire to contribute creatively and provide business value to the industry. Also, one of the core values ​​of the Innovecs Games crew is freedom of expression and trust among customers and colleagues. The new visual style mirrors and radiates the team’s values.

“The most valuable virtue of Innovecs Games is a professional, friendly and integrated team, our people. Therefore, developing each team member and providing career prospects are among the Innovecs Games key points. We’d love to see our teammates grow and become experts of their field and leaders. Enabling our people growth with helpful trainings, clear career path and useful experience is part of our strategy. I honestly believe that the most precious thing a company can give to a team member is the knowledge to carry further along their career journey,”Oleksii Isaiev shared his vision.

Since 2015, Innovecs Games provides a full range of complex solutions for game development, in which many satisfied clients were convinced.

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