Esports Gold ICO investors lock in ethereum price.
News on 25 Oct 2017
News on 25 Oct 2017
Esports Gold, an eSports online media aggregator, has provided investors with an opportunity to lock-in the current value of Ethereum through its initial coin offering (ICO).
Purchasers of its Esports Gold tokens (ESG) acquire a share of the betting revenues generated by the platform, allowing an effective cash dividend based on annual betting turnover.
In a statement Wednesday, Esports Gold said it intends to raise $5.4 million through the ICO to consolidate a fragmented industry into a single platform, providing the community with a single hub for entertainment and an ethical eSports betting platform.
The fully-costed ICO began on the 16th October, and offers the combined exposure to eSports, which is estimated to have a market value of $1.24 billion next year, and cryptocurrency.
Early investors gain a discount when purchasing the tokens, providing them with three times the ESG tokens for every Ether invested.
Director Sean Hynes in a company statement said:
“We’ve created a fully transparent white paper with partners, team and fully costed forecasts as our whole philosophy for the betting aspect is about informing the customer. The entertainment side of the business is about bringing people together and you can’t do either of these without being completely open.
“Giving a direct share of the platform provides, in our view, a clear value proposition for any contributor. As most of our revenues are forecast to be cash revenues, this does offer Ethereum contributors the opportunity to lock-in the current price of Ethereum. This should be a fantastic opportunity to diversify investment portfolios, as well as becoming part of a pioneering eSports movement.”
The ICO has assembled a strong and varied advisory board of experts, led by director Sean Hynes who is trained as a chartered accountant and has primarily advised on M&A in recent years.
He is joined by Danny Meaney, founder of UP Ventures which specialises in digital start-ups, Raj Sharma, previously financial director of Virgin Games, now part of Gamesys, and technology entrepreneur Brendon Thomas.
