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Edward Craven, also known as Ed Craven or Eddie, is an Australian billionaire who has recently gained popularity as the co-founder of the new streaming platform Kick. Craven is also the owner of the online crypto-gambling casino Stake which has allowed him to become one of the youngest billionaires in the country at the age of 27.
Ed Craven recently made a splash in the streaming world by announcing on a stream that Kick had already turned a profit in its first quarter, defying the predictions of many who have been raising concerns about the platform's viability. This article briefly delves into Ed's career and business strategies, especially pertaining to content creation.
Exploring life and career of crypto kingpin Ed Craven, co-founder of Stake and Kick
Eddie is the son of Australian businessman James Ashley Craven, who was jailed for his involvement in the collapse of the Spedley Group. Albeit, that was before his son was born. Over the years, Edward has invested in and started many ventures, including a gaming company called EasyGo Gaming.
His crowning achievement, however, is Stake.com, an online crypto-gambling website he co-founded with a fellow investor, Bijan Tehrani.
Over the years, Stake has become one of the biggest crypto casinos in the world. An investigation by The Age found that the company was technically owned by a company based in Dutch Curacao to avoid anti-money laundering laws in Australia.
Through his various social media channels and blog posts on Medium, Ed Craven has revealed his love for video games like Runescape, while in-game currencies from his childhood led him to take an interest in cryptocurrencies. The Aussie has been named the country's youngest billionaire due to his highly successful crypto-gambling business, and how he got involved in streaming with Kick.
It is a fledgling streaming service set up as a direct competitor to Amazon's Twitch that started in late 2022. Spearheaded by established streamer Tyler 'Trainwreckstv', Ed Craven's Kick has been able to sign a few deals with creators such as Adin Ross, GMHikaru, and Destiny. Their main allure lies in highly lucrative revenue splits that dwarf Twitch and YouTube's payouts in comparison.
The 95-5 subscription split, no deductibles on donations, and features such as a flat rate for hourly streams have attracted quite a few creators to the platform. Prominent creators such as Myth, Sodapppin, and Asmongold have commended it for bringing competition to the field of streaming. However, the platform has garnered criticism too.
Popular online sleuth Coffeezilla was quick to point out tweets and posts about Kick that suggested that the platform's creation was motivated to drive traffic towards the Crypto-Casino Stake, and saw gambling streamer Trainwreckstv's association with the platform as a confirmation of his theory. Here's a full breakdown of the Stake connection.
Regardless, Ed Craven's recent comments on a stream with Big E indicate that he is confident that the business model is stable and that it can turn a profit despite its low margins. Like Stake, Kick has also associated itself with popular figures, having been named the official streaming partner of the Alfa Romeo F1 team.
