Token Buyback and Burn stands at $1.7 million.
Rollbit, the crypto-focused gaming platform, has experienced impressive growth across its casino, crypto futures, and sports betting verticals, generating over $14.7 million in revenue in the past week.
Coupled with this, Rollbit’s aggressive buy-and-burn program is steadily reducing the circulating supply of its native token, RLB, potentially driving up its value and rewarding token holders.
Highlights
Total 7D Revenue: $14.7 million, with $11.5 million from Casino, $2 million from Crypto Futures, and $1.2 million from Sports.
Burnt RLB: 39.72% of the original 5 billion supply has been burned, translating to 1.99 billion tokens permanently removed from circulation.
Circulating RLB: 3.01 billion tokens are currently in circulation, down from the original 5 billion.
7D RLB Burnt: Over 13 million RLB tokens, valued at $1.79 million, were bought and burned in the past week alone.
Buy and Burn Program
Earlier this year, Rollbit launched a Buy and Burn program, committing to using a portion of its platform fees to buy RLB from the open market and burn them. This program significantly impacts the token’s supply and dynamics as the continuously shrinking supply could lead to increased scarcity and potentially higher token value.
Burned tokens are permanently removed from the market, which potentially creates a higher demand for the remaining RLB. Rollbit’s commitment to reducing the supply through Buy and Burn may attract investors who value tokens with controlled inflation.
November Revenue Tops $56 Million
In November 2023, Rollbit reported a revenue of $56 million, a 47% increase from its September revenue of $38 million. Rollbit’s revenue for the month came from its casino, crypto futures, and sports betting streams, amounting to $38.4 million, $11.1 million, and $6.6 million, respectively. Additionally, the company burned over $7.5 million worth of RLB coins, which constituted about 1.22% of RLB’s total circulating supply.
Rollbit also introduced a player vs. player gaming arena called Duel Arena, allowing players to wager with RLB and supported NFTs like Bored Ape Yacht Club, CryptoPunks, Rollbots, and Sportsbots. To participate in or initiate a duel, a minimum stake of $10 is required. This stake can be me by using either a $10 equivalent of RLB in your on-site balance or any of the supported NFT collections.
