Cryptocurrency in the gaming sector has largely been limited to online gambling. Until recently, that is.
Now, a gaming company in Macau is looking to finally integrate digital currencies like Bitcoin and its underlying technology, blockchain, into the world’s largest gaming hub. Dragon Corp. recently partnered with Thai-based Wi Holding to sell digital tokens via an initial coin offering (ICO) in a bid to raise $500 million, CNBC reported.
The ICO will see junket operators offering credit on behalf of the casino operators, according to the report. The money raised from the sale will help fund the construction of 1,600-square-meter floating Dragon Pearl Casino Hotel, which is expected to make its way to Macau from Norway by 2019.
Wi Holding CEO Chakrit Ahmad told the news outlet that ICO investors will basically become “a shareholder in a junket, utilizing blockchain technology, getting revenues from that, and plugging that back into the token.”