Blockchain esports platform FirstBlood raises $6m in two minutes

Blockchain based esports platform FirstBlood’s funding round was completed within two minutes of opening on Monday, which saw it raise a total of $6m (£4.62m) in investment. 

The FirstBlood platform, which is run on top of Ethereum, allows players on a range of games to directly challenge each other to matches and win rewards. The main draw of the platform is that no central party needs to be trusted to determine match outcomes and allocate the agreed upon rewards.

‘Witnesses’ and ‘Jurors’ ensure integrity and fairness across match outcomes, and this is explained in greater detail in the video below. 

FirstBlood Tokens are the platform’s native currency.

It was only earlier this month that news of the eBoost Token, courtesy of the International eBoost Society, was released as esports seemingly has something of an arms crytpocurrency race on its hand.