Chain Base’s Nevula Casino Blockchain Crypto Token ICO Reaches Its $50 Million Soft Cap
Nevula, a blockchain based casino project, has hit its $50 million cap for its ICO that started on 11th November 2018. The project was launched by Chain Base Pte Ltd a Singaporean company specializing in blockchain.
The project has managed to raise $53 million from investors which will be channelled to making deposits for casinos. The Nevula project is different from the rest since it will allow token holders to use crypto in land-based casinos around Asia countries such as Macau, the Philippines , Malaysia and Cambodia.
At the moment, the team has chosen Tekken Video Slots to be the first batch of machines to be deployed in casinos. Nevula believes the business strategy that Bandai Namco Entertainment has put in place will empower the platform.
Nevula will also channel some of the funds that have been raised to invest in IR related projects. Nevula tokens will be availed to casinos in Asia but by 2020 the platform hopes to have their product available to major regions around the world.
Nevula believes that using blockchain technology to generate tokens for land-based casinos will give the project a competitive advantage since most of the projects have focused on onllne casinos.