Herosphere is running an ICO to issue HEROcoin, an Ethereum based cryptocurrency for betting. Since September 14th customers are able to spend ETH for HERO and become part of a community that’s being designed to rub out the middle-man, and make sure the “house” never wins again.
HEROcoin is a peanut-butter and chocolate mash-up of finance and gamer geekdom. The people behind the upcoming ICO live and breathe e-sports, and they’ve dedicated themselves to providing a way for gaming communities to foster competition that’s not dependent on trust.
The problem with the traditional system of online betting — through a bookmaker — is paying a cut to the house. Bookies make money when you lose.
Paul Polterauer, the CEO and co-founder of Herosphere, says:
We are here to change online betting and give back the power to the people. Through the emergence of blockchain, no one will need a bookmaker any longer. We strive to cut out the greedy middleman and empower the community
With HEROcoin, the middle-man doesn’t exist. This means the community wins no matter what. Furthermore, every community member gets a rake-back on every pot: everyone gets a piece of the action, every time.
Herosphere is an e-sports focused blockchain company, but HEROcoin is being designed with legs. It’s got built-in support for third party implementation: so one day you might be able to join a betting pool for anything from, who’ll eventually sit on The Iron Throne, to how long Donald Trump will remain in office.
There’s a blockchain for everything, and that’s not necessarily a bad thing. But for an ICO to work it has to do something that people need. Ridding online betting of its tarnished reputation – like offshore bookmakers and rip-off gambling sites – is a good start.
HEROcoin hopes to solve this problem and provide a classier way for people to engage in prediction based competition, by giving them the peace-of-mind that comes from using smart-contracts to conduct transactions.
As always, invest your money and ETH with care.