Lars Lien and Mike Stevens, both previously of PokerStars, have joined forces to launch a new esports betting platform.
Due to go live this year, Luckbox.com will run as a Bitcoin-based start-up that allows punters to wager on professional esports events.
Users will also be able to deposit with both cryptocurrencies and in-game items, which Lien and Stevens say will open up markets that are currently restricted by payment blockages.
Lien and Stevens are hoping to obtain a licence in the Isle of Man for the new platform, with plans in place to follow up on this with a global roll-out.
“We both have a background in the gambling industry – we met when worked together at PokerStars in London, but went our separate ways with other work after that,” Lien said.
“We got our heads together again in 2015, when Mike was in the early stages of planning to build an online casino.”
The pair have so far raised 483.5 Bitcoin from “strategic contributors” and are now planning an ICO to generate the remaining finances they require to launch.
PokerStars is clearly a leader in the online poker niche, but at the same time there is always the opportunity to choose an alternative solution among the best bitcoin poker sites.
The ICO will be based around the sale of a utility token, which can be used on Luckbox and also traded by accredited investors to hold a ‘profit share’ token, entitling the holder to 20% of the company’s annual profits.
“Generally speaking, crypto has huge potential in the emerging marketplace and many businesses have already woken up to this,” Lien said.
“The development of smart contracts will be huge; transactional costs will be lower, people will not need traditional bank accounts and there’s far less risk of corruption.”
Lien added: “There’s a lot of negativity around ICOs after several scams and, from the outset, we’ve done our utmost to distance ourselves from these.
“One of the aims of the double token structure is to show people who support us how much we value their contribution and give them chance to share our success going forward.”