Last night we had our meeting with the compliance officer, we have received conditional approval subject to a security audit by one of their approved providers. Although it will take some extra time, we completely respect that decision based on the BitMart hack.
This morning, we engaged and paid the security company and they will begin testing the betting platform (bet.betu.io) on Friday and they estimate it will take approximately 4 weeks to complete.
A little randomly, Scott has also been presented with an acquisition proposal for a Curacao company that already has a gambling license.
We have presented BitMart an offer to compensate all BETU holders, along with some compensation for damages. This would enable us to unpause our contract and move forward straight away.
We are waiting their response.
Hotel, casino and character design is moving ahead rapidly. We will have an animation out by the end of the month. Our game developers estimate we will be walking around the BetU Verse Hotel & Casino in a demo style game as early as February.
Design is underway with 6 different NFT designers. Upon release the NFT's will give ownership and income from the Licensed BetU Verse Hotel & Casino. We estimate first batch will go on sale in January.
UFC league is now live, we have paused the NBA and EPL leagues as the contract is currently paused due to BitMart. We decided it doesn't make sense to run all 3 leagues when new players cannot join.
We may decide to discontinue the current Fantasy at the end of this week, to fully focus on V2.
Development is well underway, we are taking most of the code from the real betting platform and it's estimated to take 2 sprints to complete. It will initially open to NBA, EPL & UFC, with Cricket, Tennis, Golf, Hockey, American Football, Rugby all coming shortly after.
We have agreed in principle with Oddin.gg to integrate with their platform. This will enable live streaming, pre match and live betting of all major esports games. From within BetU Fantasy platform you will be able to watch live Dota 2, CS:GO, League of Legends, FIFA while placing fantasy bets on the live play.
To play V2 you must own BETU tokens and your % of Fantasy Points is dictated by how much BETU you own. You choose which sport and what you want to place fantasy bets on. What you win is what you keep. We are expecting mass buying of BETU tokens upon its release.
We have hired a new social media manager who will start next week. We are in discussion with a candidate we have head hunted to become our Head of Marketing starting in January.
Very excited about what lies ahead. The coming months are going to be a wild ride!