New eSports cryptocurrency ‘eBoost’ crowdfunding raises over 150 BTC
The International eBoost Society that earlier this month announced the crowdfunding of the world’s first cryptocurrency for use in the growing eSports field – eBoost, “has raised 156.16 BTC and distributed 684853.34 tokens”, the website stated at press time.
According to the crowdfund website, cryptocurrency exchange Bittrex is hosting the crowdfund campaign that started on September 15 and will run on for another month until October 27, 2016. At the start, the crowdfund aimed to raise a minimum of 150BTC in order to be considered as a success.
“Once the crowdfund is over and successful, Bittrex will verify there is a working wallet, blockchain, and block explorer. The eBoost development team will send the tokens sold to Bittrex. Bittrex will distribute it accordingly,” it added.
By the end of the 42-days crowdsale, if there are coins that are not sold including any tokens sold during a 15-day presale, will be verifiably “burned”. This refers to sending those coins to a public address with no known private key.
The uses and issuance of the remaining 80 million authorized coins include 5 million for technology build, maintenance, and upgrades; 5 million for marketing and business development; 20 million for new player bounties and incentives and 50 million for long-term issuance based on the demand of coin in games. Trading of the coin will not be allowed until the crowdsale ends.