Esports Gold, a leading online media aggregator for the eSports community, has provided investors with the 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 of the platform, allowing an effective cash dividend based on annual betting turnover.
Esports Gold intends to raise $5.4 million through the ICO to consolidate what is 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 begun on the 16th October, and offers the combined exposure to eSports, which is estimated to have a market value of $1.24bn 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.
Sean Hynes, Director of Esports Gold, said: “We’ve created a fully transparent whitepaper with partners, team and fully costed forecasts as this approach aligns with our philosophy about bringing people together for entertainment and informing the customer.
“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 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.