RSN Entertainment Ltd has confirmed the launch of its ICO for CryptoMillionsLotto, a new, global lotto offering the highest crypto jackpots available and removing current barriers afflicting players’ access to international lotteries.
The winning numbers are taken from the German National Lottery, ensuring total transparency. Jackpots will start at the equivalent of US$ 20 million rising to US$ 40 million and will be fully insured with Lloyd’s of London. The business model is proven and the company licensed.
With an already operational platform, the ICO has an extremely short roadmap amounting to days rather than months or years.
25,000,000 CML Tokens will be up for sale, each priced at the equivalent of US$ 2.50. A further 5,000,000 will be distributed through Reward programmes. Investors in the crowdsale will receive free, publicly listed shares of RSN Entertainment’s parent company, Ofertas365 Limited, in the ratio of 1 share for every 2 to 2.6 CML Tokens purchased.
The ERC-20 tokens are securities, entitling holders to quarterly dividends representing 15% of gross revenues and verifiable on the blockchain. They will be listed on crypto exchanges and, like stocks, will appreciate in value based on the business’ performance. The ICO has been filed with the Securities & Exchange Commission under Regulation D, so US Accredited Investors are able to participate.
Unlike every other ICO, CryptoMillionsLotto’s team will not receive any tokens, having already been incentivised by shares in the parent company. Funds raised will be devoted almost entirely to marketing and rollout of the new lotto.
James Leppard of RSN Entertainment, stated: “We believe the outdated lotto market is ready for fundamental change. CryptoMillionsLotto is a democratising factor. Using a familiar lotto format, it has potential for borderless, mass appeal, encouraging lotto players to embrace crypto and play for life changing jackpots.
Our ICO presents cryptocurrency holders with an opportunity to diversify into a real business with regular dividends as well as a direct stake in the parent company, which benefits from the profits of the entire Group”.