Initial coin offerings in the past have been offered by various private entities that offer their own investments. A publicly listed company is stepping forward to become the first of its kind to have its own ICO. This group is particularly a gaming firm that is aiming to reach out to gamers and developers alike.
iCandy Interactive Limited, a prominent mobile entertainment group in Australia, has announced its new cryptocurrency called Nitro. This coin is designed to allow people to get into the video gaming economy while establishing a strong new community. The goal is to help the gaming industry grow and to allow people to feel more invested in the field.
iCandy has been growing over the years to include additional game studios in Malaysia and Singapore among other places around Asia. The group is listed on the Australian Securities Exchange with the symbol ICI. Various popular mobile games have been made by iCandy including Crab War and Star Tap.
iCandy also has a desire to make a larger impact in the gaming world. Although the gaming industry is worth around $100 billion per year, the field is mostly controlled by larger groups. iCandy is looking to change the currency field and grow its presence inside of the entire video game industry.
Nitro will operate off of NOX, a token that is based off of the Ethereum blockchain platform. People who invest in the currency will also benefit from a new online marketplace called the Nitro Marketplace. Investors can use this to vote on games that they want to have Nitro funds support. People can also use their tokens as in-game currency while getting in touch with producers and creators.
Investors can also earn some of the revenues that come from the games that were funded by Nitro. This is a reward to investors for the support that they have given for the cryptocurrency.
The crowdsale for the new currency will start on November 7. It will be conducted online at www.nitro.live. A pre-sale will also be announced in the future.
Around 60 million coins will be available with the goal of raising up to 50,000 Ethereum or $15 million. The values for each coin is uncertain at this point although the group is hoping for the values of the coins to increase as a means of expanding upon the profits that individual investors might get.
The program is also distinct for how it is being targeted towards groups that are typically seen as being technologically savvy. It is being targeted towards developers and gaming enthusiasts. The offering is being made available to the entire public although there is a potential for people well outside of that field to get into the investment just as well.
Additional information on the ICO will be released as the date to the official sales gets a little closer. iCandy is encouraging people to visit the group’s official website to learn more about what is being made available and how people can invest in the brand new currency.
