Herosphere is preparing an ICO to issue HEROcoin, an Ethereum based cryptocurrency for betting. On September 14th customers will be 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. We’re excited about HEROcoin, but as with any new ICO we wont know the actual coin value for some time.