Press releases Cryptocurrency Gambling company Monster Byte Inc. launches ICO
Bitcoinist | Jun 25, 2017 | 11:00
Monster Byte Inc. owns a suite of long standing and profitable gambling websites that have been custom-built with proprietary technology owned by Monster Byte. Monster Byte is looking to raise additional funds to not only enhance their current consumer’s sites but also begin to resell their intellectual property and enter the B2B iGaming space.
[Note: This is a press release.]
This ICO is unique because the company has been generating revenue, adding users and enhancing its products since 2013. Instead of wondering if you are buying vaporware with the ICO you have a chance to share in the growth and profits of an established company.
From Sports Betting to Provably Fair Games
Monster Byte owns and operates Peerbet.org, Bit777.com, and BitcoinRush.io. Bitcoin Rush offers sports betting and a provably fair casino all custom built and originally founded as “casinobitco.in” in 2013.The sportsbook currently offers highly competitive odds and a daily cashback system that is not available at any other bitcoin sportsbook. Peerbet was established in 2012 and offers 1% edge dice games and an on-site exchange for various cryptocurrencies. Finally, Bit777 was acquired by Monster Byte in 2014 from UltraPlay LTD and is a flash based casino with 49 different games.
The sportsbook currently offers highly competitive odds and a daily cashback system that is not available at any other bitcoin sportsbook. Peerbet was established in 2012 and offers 1% edge dice games and an on-site exchange for various cryptocurrencies. Finally, Bit777 was acquired by Monster Byte in 2014 from UltraPlay LTD and is a flash based casino with 49 different games.
What will the ICO Funds be Used For?
First and foremost, Monster Byte is hiring several functions, including additional developers, and community managers.
The BitcoinRush.io sportsbook will be updated with a new UI/UX model and implement a system that earns between 2-4% per bet regardless if the player wins or loses.
Peerbet.org will be relaunched with a new modern design that will be responsive for tablet and mobile device play.
BitcoinRush.io will start accepting more coins including Waves, Ethereum, Litecoin, Dash, and others in time for the next NFL season in September.
B2B syndication of its games and API access to both traditional fiat and cryptocurrency gaming portals. The new line of business will supplement existing revenue streams.
Telegram messenger betting support. People will be able to place bets from their telegram app.
What do Token Holders Get?
Monster Byte Token will be issued exclusively on the Waves Platform due to the ability to easily trade tokens against other assets and cryptocurrencies all within the DEX, a very liquid decentralized exchange in the Waves LiteApp Wallet.
On a quarterly basis, all Monster Byte token holders are entitled to their share of the collective profit (revenue – expenses) of Monster Byte. Dividends will be paid in bitcoin, and detailed quarterly reports will be published to provide full transparency on all operations. A dedicated Slack channel will also be created to follow the day-to-day operations and development progress with the team itself.
When is the Monster Byte ICO? I Want in NOW!
The ICO pre-sale will begin on July 3rd, 2017 at 16:00 UTC, and extend until July 8th 16:00 UTC or whenever the pre-sale is sold out, whichever occurs first. During the pre-sale, 2,500,000 Monster Byte tokens will be sold at $0.08 USD, a 31.5% discount over the general sale. The general sale will open at July 8th at 16:00, and 7,500,000 Monster Byte tokens will then be sold at $0.11 USD.
Is There a Cap?
Yes, in total, Monster Byte anticipates raising $1,025,000 USD which gives Monster Byte a $4.4M post-money valuation. They chose not to have an open cap as savvy investors should know exactly what they are buying into, with a well-defined capitalization model.
A Unique Opportunity
This is your chance to invest in one of the fastest growing industries. Sports betting and online gambling is one of the best use cases for cryptocurrencies. Currently, online gambling as a whole is a $46 Billion/year market. Depending on estimates, that figure is expected to reach $50 Billion/year by 2019. At the same time, due the benefits of both the player and operator, cryptocurrency gambling is going to ‘eat into’ this market gradually year over year.
Based on Monster Byte’s solid reputation and long-standing history in this young niche market, as well as their expansion into B2B operations this is an ICO that is sure to go quickly.
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Images courtesy of Monster Byte
