The team of DeClub Macau and Wide Reach Global has entered into an agreement to form the first blockchain casino club in the world. The collaboration between the casino management company from Macau and the investment firm from Malta is expected to introduce casinos of next generation bringing gambling and blockchain closer. A press release stated that Wide Rich is interested in buying the gaming company so that it can build up the first blockchain-based casino gaming hub in the world which will be fully integrated on land-based and online casinos.
To raise capital for buying the gaming company, Wide Rich has decided to offer an initial coin offering (ICO) which is expected to attract around $1 billion. In its white paper dedicated to the blockchain-based casino project, Wide Rich said, “The tokenization of chips, casinos and their surrounding entertainment service providers will be able to build a pan-gambling business ecosystem together, so that people with varying business needs – from tourism to business meetings, to shopping – can all gain easy and cost-effective access to customized and prestigious services on their mobile devices.”
As per reports, during the ICO for funding the first blockchain casino club in the world, Wide Rich will offer the “DEC” token which will provide the purchasers right to invest and host in the cash lending pools, Calvin Ayre reported. Simultaneously, DeClub will also offer NNC, its own token/stablecoins that users can redeem to cover services or goods at casinos.
According to Macau Daily Times, De Club is planning to use one-third of the ICO amount of $1 billion to apply for the junket promoter license in Macau for acquiring casinos on land in the area, as well as other jurisdictions from the Caribbean to East Asia. Analysts said that the blockchain technology relying on decentralized and public digital ledger for recording transactions offers numerous benefits to the shady casino industry.
Few of the major advantages that a blockchain casino club can offer are quicker and more reliable payments and increased privacy. According to Macau Business, DeClub expects to have around 250 gaming tables under its management by the end of this year and 700 tables next year.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]