GIFcoin stands for Gambling Investment Fund coin. This is a project that is run by a presently functioning betting website called VitalBet.com. The aim of VitalBet is to ensure that its consumers have a hassle-free betting experience. The members of this platform can bet effortlessly and from any location of the world.
VitalBet is a regulated gambling website that hosts all popular industry features like casino, live casino, IN-play betting, eSports, virtual sports, and sports betting. GIFcoin is selling its tokens to allow investors to take part in an existing and profitable business. GIFcoin also claims that its token holders will be receiving 80% of VitalBet’s annual profits every year.
The primary product of GIFcoin is the platform that will enable traders to gamble online at any time and from any place of the world. They will also produce modern IT solutions to allow people to bet online on various sports events and also on their favourite gambling games. They aim to remove the stigma associated with gambling and turn it into something fun, easy, secure and accessible.
Some of the advantages of using this platform are:
1) The platform accepts payments in cryptocurrencies – Bitcoin. This gives it an edge over its competitors who are yet to do so. Furthermore, GIFcoin plans to incorporate other cryptocurrencies like Litecoin, Ethereum, and Ripple.
2) It is easy for the users to use. The interface has been made as simple as possible, and VitalBet has an innovative and minimalistic outlook that makes it easier for the user to bet.
3) The security of this platform is state-of-the-art.
GIFcoin is launching an ICO to raise funds that will help its business to grow and that it can share the profits with the investors.
It is said that a total of 300,000,000 tokens will be raised. Out of these, 87% of the tokens will be distributed by means of its ICO, 10,000,000 tokens or 3% of the tokens have been sold off in the private sale, 7% or 20,000,000 of the tokens are for the founders and 3% of the tokens for advisory, bounty and PR pools.
The usage of funds
GIFcoin plans to use 50% of the raised funds or $12,000,000 for advertising, 20.8% or $5,000,000 for adding to the existing bank for the purpose of operational money for wins and losses and 16.7% or $4,000,000 for marketing the product. Furthermore, 8.3% or $2,000,000 will be set aside for embarking on legal agreements in different countries while $1,000,000 will be allocated for updating the platform and creating a mobile application.
GIFcoin is operating from Bulgaria.
The soft cap of GIFcoin ICO is 5000 ETH while the hard cap is 24000 ETH. \
Founder and CEO: Krasimir Popov
Branding Expert: Svetoslav Dimitrov
Blockchain developer: Zhivko Nikolov
For more details on the team, visit this page: https://www.gifcoin.io/.
This is an ambitious project that could prove to be profitable for the investors. However, the team may need more advisors actually to make the project a success. There is some ambiguity about the claim of the team that says that they will be providing the investors with 80% of the profits earned.