Betting service Loot.bet has pledged to accept SkinCoin as a means of payment in the nearest future. This was revealed in an official tweet from SkinCoin.

Loot.bet is an anonymous online betting platform where users can place bets on their favourite eSports games and athletes. Bets can be made not only with fiat money but also with game “skins”, in-game assets that change the appearance of characters, weapons and other digital objects.

SkinCoin is an ERC20 token created specifically to facilitate skin trade and skin betting on third-party platforms. The company has already partnered with multiple other skin trading and betting platforms, where gamer community trades skins from such popular Steam games as Counter-Strike: Global Offensive, Dota 2 and Team Fortress 2.

Employing blockchain technology, SKIN token is supposed to make this process safer and more streamlined.

“We plan to solve the issues of skin trade on all video game sites. SkinCoin will provide security to players’ in-game assets and protect skin trade platforms from Valve’s claims. Unlike fiat money, SkinCoin is not a means of payment according to legal definition in most countries. Third party sites will be able to process trade transactions with the help of SkinCoin and still perfectly conform to Steam policies.” – Igor Solomatin, CEO SkinCoin  

Along with the token, SkinCoin will offer the community a variety of services, including wallets, marketplace, exchange and even merchandise.

SkinCoin’s ICO has launched June 21 and has so far attracted a hefty sum of 12,000 ETH far surpassing the minimum threshold of 5,000 ETH. Crowdsale will last three more days and will end on July 21, 2017.