Online betting provider UltraPlay has moved to bolster its Blockchain technology position by launching ‘eGold’, a new cryptocurrency aimed at the esports sector.
The new digital currency is an ERC20 Ethereum-based token that punters can use to wager on professional matches and tournaments based on titles such as ‘Counter-Strike: Global Offensive’, ‘League of Legends’, ‘DOTA2’, ‘Hearthstone’ and ‘World of Warcraft’.
eGold will initially launch on esports betting platform Buff8, which, as part of a deal with UltraPlay, will now be further developed to offer a Blockchain-based betting.
In addition, UltraPlay has said that to secure the whole project implementation, it will launch an initial coin offering (ICO), with the eGold token sale due to run from December 18 to February 28.
This campaign will include a range of bonuses, such as ‘Power Day’ and ‘Power Week’, with all interested investors esports punters and fans, as well as crypto enthusiasts, invited to take part and purchase tokens.
UltraPlay added that participation in the crowdsale will only occur with ETH currency and will happen through audited Ethereum smart contracts.
Mario Ovcharov, chief commercial officer at UltraPlay, said: “We are very excited to introduce eGold to the esports and crypto community; together, we can make it the first-choice payment method for esports betting.”