Online media aggregator for the esports community, Esports Gold has announced its going to launch an initial coin offering (ICO) with the aim of raising $5.4 million (£4.06m) in Ether tokens to establish what it calls the ‘first all-encompassing esports entertainment hub’.
Esports Gold also states that it aims to provide the community with ‘an ethical esports betting platform and content aggregator including streaming, reviews and data provisions’.
The fully-costed ICO, which will provide investors with its ESG tokens, begins today, 16th October.
Early investors will gain a discount when purchasing the tokens, providing them with 300 ESG for every Ether invested, compared to 100:1 after the initial cap has been reached.
The ICO has assembled a strong and varied advisory board of experts, led by director Sean Hynes who is 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.
The betting product, which will be fully regulated under the UK Gambling Commission and Malta Gaming Authority, and based on the FSB Technology platform, will look to offer its players a far more expansive betting offering compared to what’s currently available. There will be more specific esports markets and a wider number of titles covered, including Smite, Heroes of the Storm, FIFA and Call of Duty.
Sean Hynes, Director of Esports Gold, said: “The esports community has remained fragmented despite its meteoric rise in recent years. We believe our platform will bring gamers and bettors together for the first time in one functional, entertaining online space.
“The Esports Gold white paper is a comprehensive outline of our vision, and with such a strong technical and legal backing from experts across various sectors, investors can be confident in its success when the proposed platform is rolled out.
“We have grown frustrated with the make-up of the esports space in recent years and we’re sure other players and fans feel the same. Our proposed solution will finally bring news, content and betting into one functional site.”
Esports Gold has released its white paper outlining how it will provide the holistic offering in one platform. It underlines the following:
- How Esports Gold will consolidate various areas of the esports community and the development process behind this
- How Esports Gold will provide a secure, profitable investment opportunity through its Ethereum-based ESG token, with fully-costed financial projections
- How Esports Gold’s betting product will disrupt and add to the limited offering currently available
Esports Insider says: The initial coin offering is the start of the process for Esports Gold’s creation of a dedicated and comprehensive betting platform, something that could stand to do well given the relative lack of competition in the space.