This week, Tim Draper’s Los Angeles based investment house, Draper Goren Holm, has announced an investment in peer-to-peer sports betting operation Degens. 

The Degens betting exchange started in 2017, is built on the Ethereum (ETH) and DAI blockchains with the promise of fast and cheap sports betting, but with Ethereum’s recent scaling problems, they could be hard-pressed to provide either.

The deal includes access to additional capital investments, mentorship, product marketing assistance, a powerful public relations arm, hands-on growth marketing guidance, and future sports partnerships they noted, as well as collaboration with other partners in the venture network.

“Since the beginning, Degens has proved itself as a promising decentralized peer to peer sports betting exchange, one that users can trust and rely on. While we’re all curious to see how the sports industry overcomes COVID, the act of betting isn’t going anywhere; users will continue to win using Degens,” said Josef Holm, Founding Partner at Draper Goren Holm.