The International eBoost Society has announced a new cryptocurrency for use in the growing eSports field, according to its co-founders Marshall Long, Nicholas Thomas and Lionel Iruke. The eBoost token will be used as an in-game cryptocurrency to facilitate wagering in player-to-player matches.
The Society is responsible for the creation, maintenance and promotion of the eBoost software token, which will initially be used by the eSports site Mockit, which has received more than five million replays on Amazon.com’s Twitch.tv. Long is also its co-founder. It will begin its public crowdfunding today exclusively at Bittrex.
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“We see eSports and in-game cryptocurrency as a supremely logical fit,” said Long, who will serve as chief gaming officer. “In just the past few years, eSports has come from a rounding error on overall gaming sales to a $1 billion market on its own that is growing much faster than any other gaming sector. We believe the passion and enthusiasm of eSports players and viewers is unrivaled, and our goal is to allow every eSports participant globally the opportunity to place friendly wagers with any other player in the world, regardless of national borders or banking systems.”
Executive chairman and managing director Nicholas Thomas added: “eSports is a growing global phenomenon. Just like nobody saw RPG or MMOG games growing into the tens of billions in revenue, eSports is a sector whose demographic time has come. It also dovetails with the related fields of fantasy sports and all skill-based multiplayer games with wagering capabilities. Through our owned sites and deep industry contacts, we intend to scale quickly and to dominate these markets.”
The token is being created by a development team led by cryptocurrency developer Jim Blasko. BitAngels founder Michael Terpin is also an investor and advisor. eBoost will be a non-mineable, proof-of-work token, with 100 million coins authorized, up to 20 million of which will be sold in a crowdsale that begins its public portion today.