Dragon Passes the $300 Million Mark; Now the Biggest Crowdsale to Date!
Dragon is planning a decentralized currency and partnership network for casinos and players, bringing crypto to the forefront of the online gambling world. It is holding a massive ICO, which has 23 days left to run. $265 million has come from institutional investors, and $48 million has come from a pre-sale, meaning that it has currently raised $320 million of its enormous $405 million goal, making it the largest crowdsale to date.
Enter the Dragon
Dragon is using its standing partnerships with casinos and high rollers in Asia to produce a crypto-based hip system. Customers will buy DRG ‘chips’ using the ERC-20 tokens, and transactions will sit on the blockchain. Any winnings can be automatically onverted to other cryptocurrencies, kept as DRG or even paid out in fiat, making the concept the most flexible online gambling mechanism out there. The company states:
Dragon Coin will act as a frictionless, low-cost & transparent alternative financial mechanism within Casinos, to enhance the age-old gaming industry. With its expertise in blockchain technology, the Dragon’s goal is to revolutionize the long standing gaming industry while benefitting those rooted in the industry, as well as all the members of the public who join in the journey to achieve the goals of Dragon Coin.
Meanwhile, Chris Ahmad, the co-founder and CEO of Dragon inc. had this to say:
We’re truly building a business to enhance & improve the way that people engage with Casinos. Transparency & Integrity play a huge role in achieving this, & the Blockchain facilitates that solution perfectly.
Interestingly, this huge ICO is taking place despite the company being heavily invested in Macau. China’s recent ban on ICOs seems not to have had the all-encompassing effect that the Chinese government desired, but it will surely leave a little doubt in the minds of potential investors; what if the government attempt to get involved and shut Dragon down?
Elsewhere, gaming giant Atari have recently announced their intention to move their own online gambling services on to a secure blockchain. This movement, coupled with the popularity of Dragon’s ICO to date, really indicates that there is a growing demand for such a service, which should see the ICO reach its lofty goal and take its place amongst the all-time largest successful Initial Coin Offerings to date.