Initial coin offerings (ICOs) in the cryptocurrency industry have become a very popular way for companies to quickly raise funds for expansion, new technology and overall capital improvements. According to a recent report on Invezz.com, gaming giant Ganapati is planning a ICO to raise funds to release a new online gaming platform for the casino industry.
The company has partnered with GanaEight Coin Limited for this ICO. However, no specific time frame has been mentioned as to when it will take place. This report mentioned that presales could begin during the first quarter of 2019.
Founded in 2013, Ganapati is an entertainment, film, music and animation company that has already gained a strong foothold in the London, Tokyo, Estonia and Malta markets. The G8C token platform has worked hard to position itself as ‘the next generation of online casino’ that is powered by blockchain technology. The stated goal is to bring Japanese culture to the global gaming market.
Not all ICOs are wise investments and millions have been lost when the planned products and services from the raised funds never materialized or made it to market. Tony Drury is the chairman of Galapati Plc as part of this joint venture. It is currently listed on the UK NEX Exchange growth market according to Invezz.com. He relayed that this new platform’s major objective is to ‘ensure high standards required within the exchange are met’. When addressing the ICO in a G8C promotional video, he stated “Please understand the high risks involved in ICOs but also for the careful, shrewd investor, significant rewards.”
The platform will focus on three main areas of content starting with iGaming that is designed to attract players with an overall Japanese theme. The other two include specific gaming apps and overall game development. The primary selling point for this platform is the ability to use this token within its own blockchain framework to play and bet on the games. End users will not have to exchange these tokens for betting chips. This would add a new twist to real money casino gaming.
The combination of enhancing the online gaming experience with advanced blockchain technology while also adding authentic Japanese content is a bold but worthy initiative for this joint venture. With a strong financial background, one of the big pluses is four gaming nominations in the past four years. The company was touted as a ‘must see’ at ICE in 2018 as one of the bigger casino events on the calendar.
The report adds that more information on Ganapati can be found at the company website. When you first link onto the site, there is a video presentation outlining the company’s future plans and more specifically the G8C venture. The site also details the background of Ganapati as well as offering a section for their games, studios and other general news. Investors can gain more background on a few of the most pertinent financial aspects of the company as well as the means to contact Ganapati for more information.
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