1win to open public sale of Solana-based $1WIN token on 15 October

1win, a crypto entertainment platform, has announced a public sale of $1WIN, a token issued natively on Solana. The sale begins on 15 October at 4 pm BST and is described as the next stage in the token's rollout.

According to the company, $1WIN is meant to extend its existing gaming ecosystem with Web3 utility, user rewards and revenue-linked mechanics. It is being introduced to a platform that 1win says serves 100 million registered players across international markets. The company stresses that its current business operates independently of the token and already generates revenue from gaming and entertainment products, in contrast to token projects built around a future product roadmap.

The total supply is fixed at 1 billion tokens, with no further minting after the token generation event. The token is planned for use across 1win products, including gaming, lottery and rewards, as well as other ecosystem functions.

Two mechanisms are intended to link the token to activity on the platform. First, 1win plans to buy $1WIN on the open market on a regular basis, funding the purchases from revenue generated by its gaming business rather than from a finite pool of token reserves. Second, 10% of all $1WIN spent through supported platform products will be permanently removed from supply through a smart contract.

Because it is a native Solana token, $1WIN can work with standard Solana wallets and decentralized exchanges, alongside its planned use within the 1win ecosystem. The public sale will give users their first broader opportunity to obtain the token ahead of the wider ecosystem rollout.

The launch forms part of 1win's wider move into Web3. The platform already supports multi-chain cryptocurrency deposits and withdrawals. Earlier this year it added wallet-based authentication through Trust Wallet, MetaMask and WalletConnect, allowing users to register, sign in and deposit through a connected crypto wallet.