Do not invest more money than you can afford to lose.
The International eBoost Society, a fintech company, announced it is launching a new eSports token – eBoost (EBTS) and is seeking crowdfunding through the crypcoturrency exchange Bittrex.
According to the token’s co-founders Marshall Long, Nicholas Thomas and Lionel Iruke, eBoost would be a piece of software that can be used as cryptocurrency in the growing eSports sector. It will allow its owners to wager in player-to-player matches, as well as for online betting to pay for services and goods in the “real world”. It can also be traded on global cryptocurrency exchanges and exchanged for Bitcoins or other cryptocurrencies.
“We see eSports and in-game cryptocurrency as a supremely logical fit,” said Long, who will serve as chief gaming officer. “In just the past few years, eSports has come from a rounding error on overall gaming sales to a $1 billion market on its own that is growing much faster than any other gaming sector. We believe the passion and enthusiasm of eSports players and viewers is unrivaled, and our goal is to allow every eSports participant globally the opportunity to place friendly wagers with any other player in the world, regardless of national borders or banking systems.”
eBoost will be a non-mineable, proof-of-work token, with 100 million coins authorized. Up to 20 million of them will be sold in a crowdsale at the Bittrex cryptocurrency exchange. The first-day price of 4800 eBoost-per-BTC each. After that, the second-day price will drop to 4000 eBoost-per-BTC, and it will go down 25 EBST per day until it reaches a final-day price of 3000 EBST-per-BTC.
The crowdfund starts on September 15 and ends on October 27. The campaign must raise a minimum of 150 Bitcoins to be considered a success. If the goal is not met, all funds will be returned. Any of the 20 million eBoost tokens not sold in the period, will be “burned” (destroyed by sending to a public address with no known private key). Initial trading coins will consist of the crowdsale coins, plus 2 million coins held by the Foundation for initial business development, marketing, tech updates and maintenance.
