BotGaming Postponed the Date of Public Coin Offering
BotGaming, blockchain powered iGaming platform for messenger bots, has announced today that they have put off the date of the Initial Coin Offering. In the following months, the company will focus on product development and the audience growth.
The main reason for fundraising, whether be it venture capital or coin offering, is the accelerated growth of a business. Many IT entrepreneurs consider the next round of investment as a magic pill. As result, some companies lose touch with reality. BotGaming team adheres to the opposite point: the only real measurements of success are a strong business model and loyal users, rather than a market valuation or the number of funds collected.
In contrast to the majority of the projects that use ICO procedure, BotGaming has a successful track record as a social gambling business with more than 35,000 monthly active users. Those and so, the team faced with a dilemma. On the one hand, it was possible to focus for next four months all companys resources on the ICO campaign and negotiations with stock exchanges. On the other hand, BotGaming can make a profit here and now.
Therefore, we have made a decision to develop BotGaming platform at our own expense. We will spend our funds on user acquisition and product development instead of spending money on backer attraction. In the near future, we will announce the launch of the first messenger based casino, which will accept major cryptocurrencies.
Nevertheless, we strongly believe in crypto community and consider an opportunity of using Public Token Offering in the future. We thank all those who believed in our vision and supported us. The stacks earned during the airdrop and bounty campaign will be credited to all participants as no deposit bonuses.
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WHAT IS BOTGAMING BotGaming is a blockchain powered gambling platform for messenger bots. Verifiability of odds and building users' trust represent our core values. This is why BotGaming has been built using open source PNRG to make interactions inside the game session transparent and verifiable. BotGaming uses blockchain protocol at the games session level. Once the game session begins, all transactions like slot machine spins or poker hands are gas-free and are processed almost instantaneously.
WHAT PROBLEMS DOES BOTGAMING SOLVE Despite the high rates of growth of the industry, trust in online gambling is lacking. This problem covers all aspects of the gambling industry, from PRNG to payments. The combination of open source PRNG and the processing of all external transactions using the blockchain ensures provably fair gambling.
Mobile device users spend up to 70% of time using messenger apps, which make them especially promising to use as a mobile gambling platforms. A user doesnt need to install a new application and ad traffic for messengers is significantly cheaper than usual mobile traffic.
SUCCESSFUL TRACK RECORD We started the development of the games for messengers in 2016, and initially we focused on a social gambling business model with monetization driven solely by in-app purchases. Our products were mentioned by Forbes, TechCrunch and CNet. Moreover, Pokerbot is considered to be the #1 bot on Telegram. Today the total number of our bots installed on all platforms exceeds 400,000, with more than 35,000 monthly active users.
After our ICO we will create a fully-featured gambling platform for messenger apps by obtaining a Gambling License and using our token as ingame currency.
WHAT IS A BOT TOKEN USED FOR BOT is an utility token based on ERC20 standards. The key feature of the token is its use as ingame currency. It will be a purely utility token and cannot be considered as a security.
