The Truegame ICO presale started today, opening up to the public at last.
Truegame is a gambling ICO, or, an operational iGaming project situated on the blockchain. Truegame prides itself on the fact that it didn’t release as an ICO during the ICO hype of 2017; instead, the team behind Truegame waited until they had a working product and community feedback before moving ahead with a public ICO.
Today is the first day of the public ICO pre-sale Stage 1. The pre-sale is split into three stages: Stage 1, starting today at a 40% bonus; Stage 2, starting March 19th at a 30% bonus; and Stage 3, starting April 2nd at a 20% bonus. The main token sale will then commence on April 16th (no bonus).
Already, Truegame has collected 1,747 Ether towards its soft cap goal of 2,300 Ether, or US$2 million (hard cap goal of US$9 million). The token is TGAME. There will be a total of 300 million TGAME tokens released, 210 million of which will be up for sale (all unsold tokens will be burned). Truegame is planning to release its token onto several exchanges immediately following the completion of the ICO.
The project officially launched in 2017, opening up to community and professional feedback. From there, the team worked on improving the product, marketing Truegame, and acquiring a gambling license. The team feels that they are now ready for a full market expansion and scaling.
Truegame is backed by a team of experts in game developments, online marketing, gambling, blockchain, the iGaming industry, and listing tokens on exchanges.
The focus is smart contract gambling. Online gambling is estimated to reach US$59.79 billion market value by 2020, and Truegame plans to become a part of this.
Truegame is looking to solve two main problems with gambling: the lack of trust in the operator and the uncertainty in the operator’s ability to follow through with payout (i.e. do they actually have the funds to pay people their winnings).
Truegame wants to provide absolute transparency, fair chances to each player, and fair distribution of winnings. Transparency comes from the fact that the blockchain is open and so can be verified but not manipulated. The fair chances to each player aspect come down to game outcomes being totally random and determined by mathematical probability. As for fair distribution of winnings, winnings are instantly distributed via blockchain according to the game rules.
Currently, Truegame has active scratchcards, prize draws, and lotteries running on the blockchain. It plans to later release dice games, smart roulette, slot games, and also potentially sports betting.
You’ll have to decide for yourself whether you believe Truegame follows through on their promises and whether or not it fixes the current gambling problems it has set out to fix. You’re not totally alone though: Truegame is one of the top-rated ICOs at the time of publishing. It was given a 4.7/5 from ICO Bench; 4.8/5 from Track ICO; 9.5/10 from FoundICO; and 7.5/10 from FoxICO.
Featured image: Truegame