Stake's Breakthrough: Brais Pena Sanchez on Crypto, Community, and Conquering New Frontiers

Conrad Castleton

Editor

Last updated: 13 Sep 2024

Conrad Castleton 13 Sep 2024

Share this article

Stake evolved from a crypto-centric platform to entering regulated markets in Brazil and North America.
Key growth drivers include community engagement and partnerships with celebrities like Drake and Israel Adesanya.
Launched Kick.com post-Twitch's gambling ban, focusing on innovation and new markets like the US and Canada.

Brais Pena Sanchez, Chief Strategy Officer at Stake, opens up about the company’s incredible growth, its evolving strategies, and what the future holds as they enter regulated markets across Brazil and North America.

Initially launched as a crypto-centric platform, Stake has rapidly evolved, now diving into regulated markets such as Brazil and North America.

Their journey has seen the company expand far beyond its roots in cryptocurrency, becoming a global player in the online gaming space.

The Key to Success: Community and Partnerships

Stake’s rapid success can largely be attributed to its deep engagement with its community and the strategic partnerships it has formed along the way.

These partnerships, particularly with celebrities like rapper Drake and athletes like UFC fighter Israel Adesanya, have boosted the platform's visibility and credibility.

More Than Just Customers: Stake's Fan-Centric Approach

In a recent interview with NEXT, Sanchez revealed the company’s unique philosophy of focusing on building "fans" rather than treating users as mere customers.

"We don’t talk about customers; we talk about fans," Sanchez explained, underscoring the community-driven ethos that powers both Stake and their streaming platform, Kick.

This mindset has allowed Stake to stand out in an increasingly competitive online gambling market by fostering loyalty and engagement in ways that traditional operators struggle to replicate.

The Birth of Stake: From Passion to Platform

Stake was born out of a shared passion for both gambling and cryptocurrency.

Sanchez, who was one of the early team members, recalls moving to Australia and immediately connecting with the founders over this mutual interest. The platform officially launched with classic crypto games such as dice, crash, and blackjack.

"Our idea was simple: create a unified space where crypto enthusiasts could enjoy their favorite games. And it resonated with the community from day one," Sanchez recalls.

Building Trust in a Crypto World

One of Stake's early differentiators in the crypto gambling scene was its emphasis on transparency and trust. At a time when the crypto space was filled with scams, Stake set itself apart by actively communicating with users through social media and forums.

While celebrity endorsements from figures like Drake and the F1 team helped bolster its reputation, Sanchez emphasized that trust was cultivated through authentic interactions with players.

"People could easily see others online, ask about their experiences, and immediately know if this was the right place for them," said Sanchez. This open communication solidified Stake’s credibility in the market.

Star Power: Drake and UFC’s Israel Adesanya

Partnerships with high-profile celebrities have undoubtedly contributed to Stake's meteoric rise.

Interestingly, the collaboration with Drake started organically; he was already an avid user of the platform before becoming its ambassador. This authenticity has made the partnership a major success.

Similarly, the connection with UFC star Israel Adesanya was rooted in shared values.

These partnerships aren’t just superficial marketing; they reflect a genuine connection between the influencers and the product itself, enhancing the impact of these collaborations.

Kick.com: Stake’s Bold Foray into Streaming

Stake's involvement in the streaming world has also been a key component of its success. In 2022, when Twitch banned gambling streams, Stake swiftly pivoted by launching its own streaming platform, Kick.com.

This move allowed them to capture a new market quickly.

Kick.com has since gained over 35 million users, particularly in Spanish-speaking regions, underscoring Stake's ability to innovate and adapt in fast-changing environments.

Expanding into Regulated Markets

Originally known for its crypto-centric focus, Stake is now making significant moves to enter regulated markets. The company has already obtained licenses in Colombia and Peru and is actively seeking to expand into Brazil and Canada.

Interestingly, more than half of Stake’s transactions now happen in traditional fiat currencies, indicating the platform's shift from purely crypto-focused.

"We’re looking to engage more customers by entering regulated markets," Sanchez said, highlighting their strategic shift. North America, in particular, represents a promising area for growth, with plans to enter both Brazil and Canada already in the works.

Challenges of Managing Hypergrowth

As Stake continues to scale, managing growth while staying innovative has been a major challenge. The company now boasts over 1,000 employees and has built robust teams across critical areas such as finance, legal, and compliance.

"We’re constantly working to ensure that we have the right people and systems in place to keep evolving without losing our flexibility," Sanchez said. Balancing growth and scalability while maintaining the company’s core values remains a top priority.

Community Engagement: Stake's Secret Weapon

Another standout aspect of Stake’s success is its commitment to community engagement. The platform has created spaces where players can interact not just with each other but also directly with the company. Through forums, live chats, and social media, Stake has cultivated a deeply loyal and active fanbase.

"Our community is one of our biggest strengths," Sanchez noted. "We give them the tools to engage with us, something few operators have done."

Competition in the Crypto Casino Space

As new crypto casinos emerge, many are attempting to replicate Stake’s formula. However, Sanchez believes that these competitors lack the innovation necessary for long-term success.

"Most are simply copying what we’ve already done without adding anything original," he said, emphasizing the importance of innovation in maintaining a competitive edge.

Eyes on North America: The Next Frontier

The U.S. market is one of the most exciting prospects for Stake. Currently, Stake operates Stake.us, a social casino in the United States, but the company is exploring ways to enter the regulated sports betting market. While the U.S. presents a complex regulatory landscape, Sanchez is optimistic.

"We’re taking a humble, strategic approach to explore all available options," he said. Canada, especially the provinces of Ontario and Alberta, is another key area where Stake plans to expand in the near future.

The Future: Always Innovating

Looking ahead, Sanchez emphasized the need for adaptability and innovation in an industry that is constantly evolving. "Five-year plans don’t make sense anymore," he remarked, highlighting how rapidly technology, particularly AI, is reshaping industries.

Whether through their casino platform, Kick, or other future ventures, Stake’s ambition is clear: they aim to keep pushing boundaries and exploring new ways to engage and entertain.

Stake’s story is one of community, trust, and relentless innovation. As the company continues to expand into new markets, it remains one of the most exciting players to watch in the iGaming and streaming industries.