Bethereum is a blockchain-based social betting platform that allows users to bet on sports events and other games using smart contracts. The platform also includes a social aspect, allowing users to connect with friends and join communities around shared interests.
Bethereum conducted its initial coin offering (ICO) in early 2018, raising around $5 million. During the ICO, the company sold its native token, Bether (BTHR), which is used as the primary currency for transactions on the platform.
Since the ICO, Bethereum has been working to develop its platform and expand its user base. The company has launched its mobile app, which allows users to place bets on sports events from their smartphones, and has also partnered with several sports teams and leagues to promote its platform.
It’s important to note that investing in an ICO carries a high degree of risk and should be approached with caution. ICOs are largely unregulate, and many have been associated with scams and fraudulent activities. It’s essential to conduct thorough research and due diligence before investing in any ICO or cryptocurrency.
How Does Bethereum ICO Work?
Bethereum’s ICO was conduct in a typical fashion, where investors were able to purchase Bether (BTHR) tokens using other cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH).
During the ICO, the price of BTHR was determine by market demand, with early investors receiving more tokens for their investment. The total supply of BTHR was set at 1 billion, with 60% of the tokens allocated for the ICO.
Investors who participated in the ICO receive their BTHR tokens after the ICO was complete, and they could use these tokens to participate in betting activities on the Bethereum platform. BTHR tokens are use to place bets, pay fees, and participate in the platform’s reward program.
As Bethereum is built on the Ethereum blockchain, BTHR tokens are ERC-20 compatible, which means they can store in any wallet that supports ERC-20 tokens. Additionally, the Bethereum platform includes its own wallet, which allows users to easily store, transfer, and use their BTHR tokens.
It’s important to note that ICOs are not without risks, and investors should conduct thorough research before participating in any ICO. ICOs are largely unregulated and can be subject to fraudulent activities. Therefore, investors should be cautious and consider all risks before investing in any ICO.
The Pros and Cons of Bethereum ICOs
Pros of Bethereum ICOs:
- Innovative concept: Bethereum’s concept of social betting on blockchain is unique and has the potential to disrupt the traditional betting industry.
- Strong team: Bethereum’s team is experience and has a track record of success in the gaming and betting industry. Which gives investors confidence in the project’s ability to succeed.
- Partnerships: Bethereum has established partnerships with several sports teams and leagues, which can help drive adoption and increase brand recognition.
- High potential for growth: The global online gambling market is expect to continue to grow in the coming years. And Bethereum has the potential to capture a portion of this market.
Cons of Bethereum ICOs:
- Uncertainty: As with any new project, there is a degree of uncertainty around the success of the Bethereum platform and the adoption of its native token.
- ICO risks: Investing in an ICO carries a high degree of risk. And investors should be aware that the value of their investment can fluctuate rapidly and be subject to fraud or other malicious activities.
- Regulatory risks: The regulatory environment surrounding cryptocurrencies and ICOs is constantly evolving. And Bethereum’s platform may be subject to regulatory scrutiny in the future.
- Competition: The online gambling industry is highly competitive. And Bethereum will need to differentiate itself from other established players to gain market share.
Overall, the Bethereum ICO has both potential benefits and risks, and investors should carefully evaluate these factors before investing. It’s important to do thorough research and due diligence before investing in any ICO. Or cryptocurrency to mitigate risks and maximize potential returns.
Conclusion
In conclusion, the Bethereum ICO was a successful fundraising campaign. That raised funds for the development of a blockchain-based social betting platform. The platform has a unique concept that combines betting with social interaction. And the team behind the project is experience in the gaming and betting industry. However, there are also risks associate with investing in any ICO. Such as regulatory uncertainty, competition, and the potential for fraud. Investors should conduct thorough research and due diligence before investing in any ICO or cryptocurrency to minimize risks and maximize potential returns.
