Terminology

This whitepaper references several terms that are closely related but carry distinct meanings within the gaming and iGaming industries. To ensure clarity, the following definitions apply throughout this document.

iGaming is the broadest category, encompassing the entire online wagering industry. This includes traditional games of chance such as online slots, roulette, blackjack, and sports betting, where players wager on outcomes they cannot directly control, as well as newer skill-oriented formats. iGaming is a mature and highly regulated market that continues to grow as jurisdictions expand the scope of legal online wagering.

Skill gaming is a subcategory of iGaming that describes any video game in which players can wager on their own skills. Unlike traditional iGaming, where outcomes are determined by chance or by events outside the player's control, skill gaming focuses on games and experiences where players can directly influence the outcome of their wager through their in-game abilities. This is the specific area within iGaming in which Versus-X operates.

Real-money skill gaming is the term Versus-X uses when communicating with audiences outside the industry. It serves to clarify that these are games which prioritize player skill and involve real money being wagered on performance. Both skill gaming and real-money skill gaming refer to the same category and are used interchangeably throughout this document.

Skill-based wagering refers specifically to the action of playing skill games while wagering on the outcome. It describes what players do while playing Versus-X.

Compete-to-earn is the Versus-X branded term for the mechanism that powers the entire ecosystem. It is a spin on the familiar play-to-earn concept, but with a critical distinction: in the compete-to-earn model, financial rewards are earned exclusively through competitive performance and skill, not through token holdings, passive participation, or financial investment.