Greenlite Ventures Acquires NoLimit Technology Holdings

20.05.2024

Greenlite Ventures disclosed its acquisition of NoLimit Technology Holdings. While the financial terms of the deal remain undisclosed, Greenlite noted that the acquisition is anticipated to be finalized following a 30-45 day due diligence period.

NoLimit, established in 2014 and based in California, started as a crypto-focused online gaming company. Its flagship product, NoLimitCoin, was designed to support fantasy sports platforms, including its own. The company has also integrated artificial intelligence (AI) into its cryptocurrency and other products.

Blockchain and Cryptocurrency Integration

NLTH has a proven track record with its blockchain-powered Daily Fantasy Sports platform, which integrates cryptocurrency to enhance efficiency and user experience.

The company leverages decentralized crypto wallets and smart contracts through its proprietary peer-to-peer algorithms and NoLimitCoin.

The integration eliminates the custody risks of traditional betting platforms, providing players with full control over their funds at all times.

NLTH is also set to launch a standalone cryptocurrency exchange designed to be user-friendly for both novice and experienced traders.

Synergistic Media Partnerships

GRNL and NLTH are collaborating to achieve the industry’s lowest-cost player acquisition by leveraging strategic media partnerships, podcast initiatives, and celebrity endorsements.

Greenlite has secured agreements with sports media personalities such as Jeff DeForrest, Brandon Lang, and Frank Mirahmadi to lead its new Sports Podcasting platform. These daily sports betting podcasts, featuring top handicappers and NLTH’s AI-generated ratings, are set to launch soon.

Russell Elbaum, Chairman of Greenlite Ventures, highlighted the perfect timing of this partnership. “With the launch of our new Sports Podcast Network led by Defo’s ‘Bury Your Bookie’ show, we’re set to drive substantial daily traffic to No Limit’s platforms. This allows us to maximize the influence of our celebrity partners and media opportunities, quickly establishing a powerful niche in this $300 billion industry.”

Rafael Groswirt, the founder of NLTH, will take on the role of CEO of the merged entities post-acquisition.

Groswirt emphasized the strategic advantages that Greenlite’s resources and platforms will bring. “Greenlite provides No Limit with the necessary resources and platforms to compete with industry giants. The extensive sports and media connections of GRNL’s top management and largest shareholders position us to partner and white-label with some of the biggest players in the game. Together, we’re committed to seizing the myriad of opportunities that lie ahead.”