Vulcun, the fantasy esports and former gambling site, is shutting down current operation tomorrow and refocusing on offering Twitch chat games.
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In what is rapidly turning out to be a bad month for anyone involved in betting on games like CS:GO, Vulcun announced they would cease fantasy esports operations from July 5 and slowly re-orient the site over the next two weeks.
Last year Vulcun acquired TwitchAlerts, and with the legal position of offering fantasy sports "skill game" opportunities within esports becoming increasingly hostile, the venture capital-funded company has chosen to move into a new arena.
In January of this year, several federal cases brought against AlphaDraft and FanDuel (sites offering similar fantasy draft betting options in traditional sports) saw Vulcun change their business model from a real money exchange to a fake gold currency and weapon skins. Further troubles were evident as about a quarter of the staff were laid off soon after that.
Since starting up over a year ago, Vulcun has attracted $13.3 million in funding from two seeding rounds including investment from Universal Music Group and Sequoia Capital. This latest switch, out of the betting-related sphere altogether, will see Vulcun take an as-yet undefined direction into Twitch chat engagement.
"Last year we acquired TwitchAlerts.com and over the course of the year we’ve been focused on Twitch and making the viewing experience more engaging and fun," said co-founder Murtaza Hussain in the announcement. "The new version of Vulcun.com will be focused on this. We will be publishing a separate post detailing the new direction. In short, we’ve always strived to make viewing eSports and Twitch streams more fun and we’ve figured out a better way to do it, vs, the current product."
Gold currency will be refunded if requested before July 12, but after that users risk losing anything they've put into the closed market, and all user data will be wiped on July 16.