Esports Gold, a recently announced ICO-led online media aggregator for esports has provided investors with the opportunity to lock-in the current value of Ethereum through its initial coin offering (“ICO”).
The company aims to raise $5.4 million (£4.06m) in Ether tokens to establish what it calls the ‘first all-encompassing esports entertainment hub’.
It also states that it wishes to provide the community with ‘an ethical esports betting platform and content aggregator including streaming, reviews and data provisions’.
Purchasers of its Esports Gold tokens (“ESG”) acquire a share of the betting revenues of the platform, allowing investors to receive cash dividend based on annual betting turnover.
Early investors gain a discount when purchasing the tokens, providing them with three times the ESG tokens for every Ether invested.
Sean Hynes, Director of Esports Gold, said: “We’ve created a fully transparent whitepaper 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 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.
The ICO’s advisory board is 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.
Esports Insider says: More news for those interested in the ESG ICO as those interested are able to lock-in the value of Ethereum. This is but one of many esports and betting ICOs that are aiming high, but it remains to be seen just how well the majority of them will do.