The International eBoost Society has revealed what it states is the world’s first cryptocurrency specifically aimed at the world of competitive gaming.
It has been called the eBoost Token and its remit is for use in wagering in esports, so you can use these tokens to bet on the outcome of player vs player wagers as opposed to cold hard cash.
Marshall Long, eBoost Co-Founder and Chief Gaming Officer said: “We see esports and in-game cryptocurrency as [a] supremely logical fit.”
Alongside Long, Nicholas Thomas and Lionel Iruke are the other co-founders of the eBoost Token whilst Jim Blasko is leading the development team. It’s a non-mineable coin, unlike its relation the famous Bitcoin, and Long told ‘Bitcoinist’ the reason for this: “Non-Mineable was the approach because all of our token supply is fully transparent.”
The coin has an authorised supply cap of 100 million, with 20 million of these having been offered to the public in a crowdsale hosted by Bittrex, which began on September 15th. It’ll last for 42 days after which time any remaining unsold coins will be destroyed.
The claim of first esports betting coin isn’t fully accurate. Back in 2014, a similar product, known as the Gamerholic coin, was created by Anari Sengbe. He said: “Game Credits may have been 1st by a couple week but Gamerholic was the 1st eSports specific coin.”
The difference between the Gamerholic coin and the eBoost Token however is that the former only allowed wagers between the actual gamers, whereas the eBoost Token allows esports audiences to get in on the action.
This naturally expands the potential of this new coin considerably.
The aim now for the team behind the eBoost Token is to increase the number of platforms that will accept the new currency. That currently is Mockit; an esports platform that has had partnerships with Twitch and LAN events such as the Downtown Grand in Las Vegas.