It was a subscription round of initial funding that was aimed at allowing the general public to buy the company’s cryptocurrency. The Pre-ICO was scheduled to end on December 15 and is being dubbed as the world’s largest ICO to date.
The company, who notes that it seeks to bring gaming into the 21st century by providing a decentralized currency for casino players, ran into a slight problem as of late.
ICO investors and contributors that were interested in the offering were not able to transfer their Bitcoins and Ethereum towards the Pre-ICO because of what is being called to as an extreme backlog on both of the cryptocurrencies’ networks.
Taking these reasons into account, Dragon Inc. had initially looked into the possibility of postponing the start of the Pre-ICO; however, it has now gone forward with having the Pre-ICO last for another 2 weeks, until the date of December 31, 2017. Dragon Inc has stated that they’ve done this due to the fact that they believe it would allow for fairness to all potential investors in each of the fundraising rounds. The company also understands that being able to extend the raise would also allow for the maximum intake of funds in a reasonable manner.
“We respect the community because we promised that we were going to launch on December 8, 2017,” stated Chris Ahmad, CEO of Dragon Inc. “These market conditions are beyond our control, so we decided to extend the period of the Pre-ICO until the end of December to allow the community to take part in the Pre- ICO.“
However, even with these various barriers that are present in the blockchain environment, they have still seen, what can be considered as substantial interest, over the course of their first weekend. They were able to bring in, what equated to more than million in Bitcoin, ETH, and dollars in the first two days of their launch, not necessarily a good start to being the “world’s largest ICO” but still not a number than one can scoff at.
Dragon Inc. Operations
Dragon Inc. provides for the facilitation of VIP gamers with VIP casino rooms called “junkets”. These global rooms provide the players with a private area to engage in their gambling activities, due to legal issues, funds are also transferred in and out via agents of these rooms. In the global world of casinos, junkets are a pivotal component, due to the fact that they are able to rake in a significant portion of revenues, bringing in more than 49% of revenues.
The company will be specializing in bringing the innovation of blockchain to the junket component, which will help to streamline casino related operations by deploying their own cryptocurrencies. This way, the operator does not have to deal with financial hassles as well as being able to pass this better experience on to the consumer, saving the casino players money and time in minimizing fees overall.
The company will be deploying their first batch of junkets and casinos in January of 2018 and is well on their way to being able to have the funds to do so, as they have raised more $260 million, already, in private raises.
They plan on opening in Macau in Q1 of 2018.