Metaverse Capital Corp (CSE:FORK) (OTCMKTS:GBCHF), formerly Global Blockchain Mining Corp, revealed that the first round of its previously announced initial exchange offering (IEO) for blockchain group MeVu Inc is set to begin on June 10.
MeVu operates a blockchain-based sports betting platform built on Ethereum, using smart contracts to establish and resolve bets.
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The offering of the MVU digital tokens will be carried out in four rounds. Below are the details.
- First round: 7 million MVU at US$0.09 (with a hard cap of US$630,000)
- Second round: 8 million MVU at US$0.10 (Hard cap of US$800,000)
- Third round: 20 million MVU at US$0.11 (Hard cap of US$2.2 million
- Fourth round: 20 million MVU at US$0.12 (Hard cap of US$2.4 million)
Participants of the first round can benefit from purchase bonuses of up to 40%, FORK noted.
"Now that legalized sports betting is widely available in the United States, the demand for it has become more and more prominent," said FORK CEO Shidan Gouran.
"The trouble is that bettors don't want to keep paying the high vigorish charged by traditional bookmakers, which is why a peer-to-peer betting model makes a lot more sense. MeVu has found a way to make that happen in a secure, low-cost manner with virtually no compromise when compared to the experience of betting with a bookmaker. We are very much looking forward to the opening of the IEO for MVU on Monday, as we help meVu into their next chapter as a disruptive sports betting platform, and a dynamic use case of blockchain technology."
For its involvement, FORK is due to receive base compensation of 222,223 MVU (or 0.212% of the total MVU supply) and up to 3 million MVU (or 2.86% of the total MVU supply) based on the offering's performance.
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