The cryptocurrency based gambling sector is a huge industry. Most of the gambling games available on all the leading gambling platforms are created by a handful of development companies. But this might soon change with vDice.
The Ethereum based, decentralized cryptocurrency gambling platform — vDice has recently announced an ICO to raise the much-required funds to make it easier for the game developers to create their own gambling games. The vDice ICO involves the sale of vSlice crypto tokens which can be bought by investors over a period of 4 weeks using ether, bitcoin, and other altcoins.
Based on Ethereum protocol, the platform accepts ether by default, while rest of the cryptocurrencies have to be converted to ether using the inbuilt Shapeshift exchange. In order to buy vSlice with other cryptocurrencies, users are required to first create a vSlice wallet on the platform and then convert bitcoin and altcoins to ether and finally buy vSlice by clicking on the “Buy vSlice” button.
Once the vSlice tokens are bought, investors can either choose to trade it for other cryptocurrencies or hold on to it until they start receiving their fair share of profits offered by vDice. In order to ensure profitability for everyone involved, vDice has capped the total number of vSlice tokens to 96 million and the token holders will receive a proportional share of the platform’s profits.
Future development roadmap of the vDice platform is divided into three phases — Origin, Vanguard, and Pioneer. Once the development reaches the Pioneer phase, game developers can start building their own decentralized cryptocurrency gambling applications. These gambling DApps can also be hosted within the vDice environment itself. With these improvements, the platform intends to be the “WordPress for Cryptocurrency Gambling” in the near future.
Investors can also play a key role in the process by participating in the vDice ICO campaign. Those investing during the first week of the ICO stand to receive 130 vSlice tokens per ether. During the second week, they will receive 120 tokens per ether and the last two weeks will yield 100 tokens for the same amount.