Neds launches ICO

Business News

Neds International is leading the way with a modern capital-raising initiative; the upcoming ICO of cryptocurrency nedscoin.

Nedscoin is an Ethereum ERC20 token solution developed for use within the Neds International sportsbook ecosystem.

The major difference between nedscoin and several other, more-volatile cryptocurrencies in circulation is that it is supported by a business with pre-existing value – the turnover of the Neds International sportsbook.

Eligible nedscoin holders will have 0.25% of sportsbook turnover returned to them quarterly.

Neds International has achieved turnover of $233 million in its first three months of operation and is projected to turnover in-excess of $3.1 Billion globally by the end of 2019.

Neds International Executive Chairman Dean Shannon said “Our team is very excited about the upcoming launch of nedscoin, in developing our utility token we also wanted to ensure that investors in the token had real value. This has been achieved by distributing a percentage of turnover back to the nedscoin holders each quarter.”

“All the funds raised by our ICO will be put back into the company to grow the business internationally and ultimately grow the top line turnover which directly benefits the nedscoin holders.

“Unlike a lot of ICO’s in the market we have already launched our business in Australia and have already built the software platform to power the business into new territories.”

Shannon added: “From a business funding perspective ICO’s are a new way to raise capital and will disrupt the older traditional processes. It’s a new way of thinking in terms of structure, process, cost of funding and ultimately, business valuation.

“nedscoin offers a situation where both the nedscoin holders and the shareholders’ interests are truly aligned; the shareholders in neds have invested in the technology and funded the successful launch of the business to date and the nedscoin holders will fund the expansion. This is a situation where the shareholders have the opportunity to grow the business quicker, and this accelerated growth directly benefits the nedscoin holders through the amount paid to them each quarter.

“The other key dynamic we have as a wagering business is that we can use the nedscoin as a currency on our platform and we will burn 50% of the nedscoins we win each quarter – meaning the overall pool of coins can only diminish over time and potentially create even greater returns for those who hold nedscoin.”

Neds International have appointed Altor Capital to lead the placement. Altor Capital Director Scott Cross said that nedscoin offers a very compelling opportunity for those who wish to participate.

“Unlike other ICOs, nedscoin offers participants exposure to a real operating company with significant turnover, not a start-up or an idea.  The Quarterly payments to eligible token holders coupled with the global expansion of the business we feel represents real value.  Even at this early stage we have received significant demand from people wanting to participate.”

Neds International CDO Chris Ward said that nedscoin represents a truly unique opportunity for nedscoin holders.

“The nedscoin opportunity is truly unique, it provides early investors with substantial benefits and a better price for the token. There are no other coin offerings that provide a long-term value to token holders in the way that nedscoin does,” Ward said.

“We are an already operational business, with over $400 million in turnover and we have our sights set on global expansion – something that all token holders share in the success of.”