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World Poker Fund Holdings announce $50m crypto IPO


World Poker Fund Holdings announce 50m crypto IPO

World Poker Fund Holdings, Inc. (WPFH) announced, on December 27, that it will be participating in an Initial Coin Offering (ICO). The developer, operator of online and event-based social gaming platforms and brands, with its new digital currency subsidiary, plans to raise funding for its projects. The cryptocurrency is expected to be launched by or before the second quarter of 2018.

The Chairman of WPFH Travis Kasper expressed excitement on developing a coin catered to the gaming world. He said that the ICO would integrate digital currency into casino games and apps and bring funding mechanism to build and integrate blockchain mining technology into WPFH’s projects.

Earlier last week, WPFH had made the announcement on launching a new division for allowing the integration and use of digital currency with its existing and future technologies and applications. All this while, the group has been exploring crypto currency mining opportunities aimed towards its social gaming projects and its users.

Besides an addition of acquiring a digital currency wallet, WPFH mulls over the integration of blockchain mining into its social games, casino games, and applications.

The digital currency will be filed with the U.S Securities and Exchange Commission (SEC) and would allow accredited investors to realize income from dividend payouts in the form of cryptocurrency. When launched, the crypto would be traded through an SEC-regulated Alternative Trading System (ATS), also referred to as a multilateral trading facility (MTF). The trading platform is a non-exchange trading venue where different parties transact by matching buyers and sellers.

World Poker Fund Holdings, Inc. is one of the leading names in online and event-based social gaming. It is currently in the final stage of launching its two-core celebrity-driven social gaming brands for online poker and casino gaming. In May 2016, Soulja Boy entered into an agreement with WPFH for five years.