Esports Gold, a leading online media aggregator for the eSports community, has provided investors with the opportunity to lock-in the current value of cryptocurrency Ethereum through its initial coin offering (ICO).
Purchasers of its Esports Gold tokens (ESG) acquire a share of the betting revenues of the platform, giving them the chance of an effective cash dividend based on annual betting turnover.
The London-based start-up intends to raise $5.4 million (£4.1 million) through the ICO to help fund plans to create a single eSports platform, combining news, entertainment and advice.
The fully-costed ICO begun on 16 October, and combines exposure to eSports, with an estimated market value of $1.24 billion (£941 million) for next year, and a highly-touted cryptocurrency.
After launching in 2015, Ethereum has quickly established itself as an incredibly valuable form of online currency.
The value of ether (ethereum’s currency) has increased more than 2300% in the past year alone, and one ether now costs close to $300 (£230).
Esports Gold Director Sean Hynes said: “We’ve created a fully transparent white paper 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.”