Source: http://mobil.derstandard.at/2000066417196/Herocoins-zum-Spielen-von-E-Games
The Vienna start-up byte Heroes has created its own crypt diet to run a betting platform
Vienna - It is comparable to a stock exchange, which succeeded the Vienna start-up by Byte Heroes recently. With the specially created "Herocoins" is officially the first Austrian crypto currency on the market. But it was not a real stock exchange. The young entrepreneurs have passed the first "Initial Coin Offering" (ICO). Investors do not get an share of a company at an ICO, but shares of a newly created crypt currency called (PLAY). This participation is called coin or token - a cryptic exchange business, so to speak. ICO is appropriately derived from the "Initial Public Offering",an exchange operation in the conventional sense.
Betting with own currency
Why invest in? Byte Heroes has developed a betting platform called Herosphere.gg, on which you can only play and play with these special coins. The platform is based on the blockchain technology - just like the established cryptic approaches Bitcoin and Ethereum. Herosphere, however, does not act as a provider, but as a totalizer. Players do not bet against a bookmaker, but against each other. With the digital currency, one wants to switch off middle-men, who have also co-forgave in the past. By the way, e-games are used. From the technical point of view, however, any big competitor could adapt the system. No bookmakers fair play
Two million dollars
In the course of the ICO, the company has received just over 6,000 ethers, which corresponds to currently two million US dollars. (ICOs are largely dealt with in Ethereum, note) "We will exchange one-third for the euro, but we want to keep as much as possible, as we expect further growth from the Ethereum course and show the community that we believe in the concept, "says Byte-Heroes co-founder and CEO Paul Polterauer.
This is how an ICO works
For an ICO, a fixed number of coins is placed, which can not be changed afterwards. Accordingly, the number of tokens is always the same regardless of the number of users. If the betting is well received, interest in Herocoins increases. Since the number of these is however limited, this affects the price. A classic supply-demand situation. "We are currently recording 250,000 users on our platform, but the minimum target for next year is two to three million. I am confident as the crypto community very fast. "Coins can be viewed as an investment, in the hope that the price will rise. In addition, there are own stock exchanges where they can be bought and sold. As mentioned at the beginning, comparable to the exchange. Or use them for what they were created, in the case of betting.
criticism
"An ICO is neither an equity nor a debt financing. As an entrepreneur, there are no shares in the company, and as a rule no money is paid back," says Oliver Völkel from the Wiener Kanzlei Stadler Völkel lawyers, who legally support Byte Heroes , The investor is giving money, but he does not expect any colloquial right and no repayment. Völkel argues that he wants to see the value of the product itself. Critics complain that ICOs want to circumvent the regulations and disclosure requirements of the capital market. Völkel sees this differently: "Matter is a cross-section of capital market law, e-commerce law and tax law, which is important for the design process. "
FMA checks legality
The documents are available for financial market supervision. "We are in the process of reviewing the legality of the ICO," the agency says. The number of crypt-finances is hype. According to the German statistical portal Statista, investors have already invested 2.38 billion US dollars in new coins (as of 13 October). In the previous year, it was 256 million. Little wonder that with Cointed and Hydrominer, two other home-based start-ups recently launched an ICO.Photo: Getty Images / Backyard ProductionWhat their investors are really, the bystanders of Byte Heroes do not know exactly. Cryophytes offer anonymity. However, it is clear that the first "Initial Coin Offering" of Austria had some 2300 individual investments.
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