DRAGON ICO launches for Macau Gambling
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This is a follow up on the announcement of a gaming ICO that is held under the radar of both Macau and HK authorities. Dragon ICO is live!
As predicted, the world's first gambling ICO is going ahead as planned and aims to raise US$400 million. The DRG tokens issued will have a holding period before it can be exchanged for gaming tokens at VIP tables in Macau. Approximately US$15 million will be spent developing the back end block chain system to enable the gaming to take place so the holding period is basically the lead time needed to implement the blockchain.
The ICO is completely legal from the Macau Gaming Authority standpoint as the DRG tokens will be used to replace the current ledger system used by junket operators in casino VIP rooms.
Purchasing of the ICO will only be possible with ETH and KYC information is required.
The white paper can be read here.
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