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Rollbit Coin Falls 5% as Influencer Gainzy Switches Sponsorship to Stake

Posted on September 20, 2023

On Wednesday, Crypto influencer Gainzy wrote on his X account, informing his 217,000 followers that he had left Rollbit to partner with Stake. The two companies offer crypto betting services. The news caused Rollbit’s utility token to drop by 5%.

Gainzy now joins Canadian rapper Drake at Stake. The artist entered a $100 million sponsorship deal with the cryptocurrency casino last year. Besides the promotion deal, Drake has also invested in the company.

Meanwhile, Gainzy’s first day at Stake has been relatively quiet compared to when he joined Rollbit. A video shared on Wednesday featuring the crypto influencer promoting Stake has only attracted 140 viewers despite having over 200,000 followers on X.

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Nonetheless, Gainzy’s partnership with Stake has caused harm to Rollbit Coin. As mentioned earlier, the token is down 5% over the 24 hours. Data from CoinGecko indicates Rollbit Coin is valued at $0.124 as of this writing.

The concept of crypto betting companies partnering with influencers has been common in recent months. The goal is to attract as many degens as possible to the casinos. In July, Hamsters.gg tapped several crypto influencers to promote its on-chain hamsters’ race in which users bet on the first hamster to cross the finish line.

Gainzy’s Sponsorship With Rollbit

Gainzy partnered with Rollbit in December 2022. At the time, he touted the crypto betting platform as the best due to its initiative of returning 10% of users’ stakes when they lose a bet. However, the crypto influencer has since deleted all posts that appear to be promoting Rollbit.

Since Gainzy started working with Rollbit, the casino’s utility token has posted an 83% growth. It remains to be seen how Rollbit Coin will perform over the coming months.

Meanwhile, despite the crypto influencer helping Rollbit get massive exposure to degens, Lucky, the co-founder of the crypto betting platform, says the firm’s revenue has been lagging over the past few months. Lucky notes that Rollbit no longer processes record-breaking volumes like it used to earlier this year.

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On Tuesday, the co-founder said Rollbit had generated a $2 million revenue and burned $300,000 worth of Rollbit Coin a day before.


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