New gambling-focused cryptocurrency set for launch
The VEGA token aims to deliver ICO in Q2 2021 with 100 million coins up for grabs
A new cryptocurrency dedicated to the online gaming industry is set to launch later this year.
The VEGA token, which is based on the ethereum blockchain technology, will go live with a finite supply of 100 million tokens as it looks to disrupt the online gaming payment space.
Nearly 17,000 VEGA tokens have been bought during a private sale period so far, with five million coins available for purchase during this period.
The current exchange rate of the token sits at one VEGA to $1, with users able to purchase VEGA using bitcoin, ethereum or litecoin.
The Initial Coin Offering (ICO) to the public will take place in Q2 2021, with those behind the new coin hoping for full ecosystem integration by the end of 2022.
In a statement on the VEGA coin website, the creators point towards a potential future outside of igaming.
The statement reads: “The entry of VEGA helps diversify the cryptocurrency system, expand the casino market and contribute to the international economic system.
“The final goal is to build an ecosystem to allow VEGA use in various fields, particularly philanthropy projects,” the statement concludes.
The company is based in the Isle of Man, which has been a hub for the industry’s crypto ventures in the past, including the likes of FunFair Technologies.
Finally, despite the hopes to launch the ICO in Q2, the current VEGA website appears to be in beta form.