What Is Nedscoin?
With cryptocurrency gambling continuing to gain popularity over the last few years, many people are led to believe that the technology is a match made in heaven for the online wagering market. True to its cause, the use of cryptocurrency for gambling presents one of the most fun and risky real-world use cases for the innovation. The popularity can be explainable as cryptocurrency allows us to overcome some of the challenges we are experiencing within our current wagering systems.
Potential cryptocurrency could end up completely changing the online gambling industry by a considerable margin. While it is clear that there is actual potential for the technology, there are few platforms that have taken the liberty to demonstrate how we can place our bets with cryptocurrency and win. The next venture is a unique cryptocurrency-wagering platform that plans to ensure you get to spend your digital currency in a much funnier way.
How Nedscoin Blockchain Sportsbook & Race Betting Works
Nedscoin is a cryptocurrency solution that will work under the Neds International Sportsbook platform as the mode of wagering on spots, races, and other forms of betting activities. The token is set to change the global online betting industry by facilitating an unprecedented trust level plus transparency through the use of blockchain technology.
Nedscoin NED Token ICO Details
While the technology is not relatively new, Nedscoin stands outs with significant differences in the features it incorporates to ensure their utility token achieves real value. Key among these features include:
- A 0.25% share of the turnover to all the eligible Nedscoin investors and holders
- The Nedscoin token will also have a quarterly burn-off to ensure scarcity
- Allowing for secure exchange of Nedscoin with BTC, ETH, and fiat currency (AUD)
- As an Ethereum ERC20 token enable the acceptance of the NEDS ecosystem
Nedscoin will be holding an ICO for their NED token in May 2018.
How The Share Distribution System Works
For investors to enjoy the benefits of the revenue shares, they would first have to be token holders. Initially, a Nedscoin holder will need an ERC20 wallet that is compatible, and purchase 10,000 to qualify for the share payments.
Once in the hold of the coins, Nedscoin holders will be eligible to earn at least 0.25% of all the turnover from Neds international sportsbook brand. The first quarters will have users who only complete the investor's verification process will be eligible to have their payment in cash through the EFT.
- All token holders get a share of the Neds Sportbook platform's revenues
- The gaming and wagering industry is a considerable turnover industry, and this means it could increase the future value of Nedscoin
- The token burning also provides for a higher holder yield by creating an artificial shortage
- The platform is made up of experienced bookmakers and a management team which means there is potential for the future development
- Proceeds from the TGE go into growing Neds Sportbook foreign market, which guarantees the growth of the top-line turnover that will benefit the Nedscoin holders
There are plenty of positives with the Nedscoin project. Unlike most ICOs, Nedscoin already has a workable and profitable product to back its platform. Consequently, this presents a significant track record of the brand. However, the parent company Neds Sportbook is yet to finalize the blockchain venture as regulation measures are delaying the launch of the cryptocurrency gambling platform.