The elite professional American boxer and promoter has recently posted and seemingly advertised an Initial Coin Offering or ICO on his recent Instagram post. Mayweather is also popular not just because of his boxing stature and being undefeated in boxing, but he is also notorious for having a lavish and luxurious lifestyle; today he looks to bet a huge amount of money and invest it in digital currencies and he seems to be riding the craze as well.
The boxing champ has recently endorsed Stox on his social; it is an ICO where he looks to be betting a huge amount of money on coins now. This is probably one of the loudest and biggest promotions ICO’s had in the past month.
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Mayweather vs Mcgregor
One of the biggest thing on why the promotion is noted as the biggest and loudest promotion for ICO is because of the dawning match between Floyd Mayweather and Conor Mcgregor; the big ticket match has been grabbing enormous attention and exposure that leads to betting sites and other betting options to bolster up.
The fight is scheduled on August 26, 2017; this fight has been getting a lot of highlights and a lot buzz from boxing communities and the betting community. The sports betting community has been really big especially this time, two worlds converging, boxing and MMA; it has been very well anticipated and betting sites and forums are being geared towards the big ticket event.
ICO What?
If you are new with digital currency or if you just saw the ICO because of Floyd’s post then this is for you; an ICO or Initial Coin Offering is, according to Investopedia, “An unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin.”
Basically, when a new cyptocurrency or a digital currency, be it new or old, is looking to garner and raise some money it will more likely go to an ICO. The ICOs are also similar to IPOs or Initial Public Offering, this is when the first stock of a private company is offering to the public.
Mayweather, Stox Post
Stox has been widely popular due to recent post from Floyd; the company states that they are looking to garner a good $30 million from the ICO; this is very trivial and meek from other companies from the recent ICOs such as Tezos who is looking to generate a massive $232 million and Bancor who is looking for $153 million.
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Originally posted at: https://wealthyhustler.com/floyd-mayweather-enters-cryptocurrency-ring/