DeClub Macau wants to build the world’s first blockchain casino
A new partnership has been formed that may see the debut of the next generation of casinos. DeClub, a casino management company out of Macau, has linked with Malta-based investment firm Wide Rich Global organization to deliver blockchain and gaming closer together.
According to a company press release, DeClub indicates that Wide Rich wants to get the gaming business to construct the”world’s very first blockchain-based casino gaming hub with fully integrated online and land-based casinos.” To fund the purchase, Broad Rich is offering an initial coin offering (ICO), that it expects will allow it to draw as much as $1 billion.
In a white paper about the project, Wide Rich states,”The tokenization of processors, casinos and their encompassing entertainment service providers will have the ability to construct a pan-gambling business ecosystem collectively, to ensure people with varying business requirements — in tourism, to business meetings, to shopping — can all gain easy and cost -efficient access to personalized and prestigious providers on their mobile devices.”
Throughout the ICO, Broad Rich will issue the”DEC” token, providing buyers rights to host and invest in money lending pools. At the same time, DeClub will offer its token, the”NNC,” that are stablecoins which can be redeemed in order to cover goods or services at casinos.
Macau has a rather strict anti-ICO policy. The Monetary Authority of Macau prohibits banks and other financial institutions from providing services to any entity at the crypto sector ; however, private-sector ICOs are not included in the ban.
This isn’t the first time that someone attempted to unite crypto together with casinos. Dragon Corp introduced an ICO in 2017 that sought to raise $500 million to its Dragon Coin, part of which was to be used to build a floating casino. Those plans, however, never left it off the dock after the major contractor supported.
There’s not any reason to anticipate this newest project to progress, either. Before this year, Macau’s gaming regulator said that cryptocurrency would not be recognized as a means of money in Macau. If Broad Rich needs to see their job achieve success, they will need to discover a different place, or risk that the fury of over several investors when the project stalls.