Truegame is a smart-contract enabled igaming platform that is attempting to bring the trustless nature of blockchain to online casinos. The platform is marketed as a solution to the inherent uncertainty regarding the trustworthiness of facilitators of these games of chance.
Players must trust that casino operators or lottery managers will fairly oversee games, ensuring that nothing other than mathematical probability determines winners and losers. Unfortunately for them, this is no guarantee as current environments provide plenty of room for cheating.
Truegame announces successful token sale
Truegame is trying to fix this uncertainty by injecting a greater level of transparency and trustlessness into the igaming industry. Truegame recently took its first step towards that goal by completed its main crowdsale — successfully raising over 5000 ETH (3 million USD).
Considering the startup’s soft cap goal was 2300 ETH, Truegame has deemed the token sale a success — raising well over double that minimum limit. Furthermore, the hard cap was set at 10300 ETH and sold over 70 million tokens with over 210 million being made available to purchase in all.
The Truegame effect
By leveraging smart contracts and blockchain tech, players using Truegame will not only know exactly how payouts are determined (via open ledger exploration), but rest easy knowing that they will be executed automatically without human interference.
Therefore, outcomes will be pre-determined in a certain way given that all results are visible on the blockchain open registry. All doubts about return to player, an industry term describing the percentage of all the wagered money a slot machine will pay back to players over time, will be effectively removed.
Dmitry Danilov, CEO of Truegame, explains how Truegame was conceived as a solution to the opaque nature of the igaming model — putting the ‘house’ on full display to be scrutinized by the players.
“In an age where player protection is under increasing scrutiny and the integrity of some of the world’s biggest gaming operators is under regular question, we saw the huge potential for an iGaming model where there is complete transparency between the player and the ‘house’.
Truegame utilizes blockchain technology, the power behind this tech removes any doubts about the operator’s integrity. Truegame will soon be granted a gambling license from Curacao and are in negotiations with other regulatory bodies worldwide.
Truegame employs a native cryptocurrency, called TGAME, a utility token the platform requires all users to possess in order to play on their website and participate in the games they have to offer.
Additionally, the project has attracted unprecedented attention from the iGaming community, with several leading figures from the industry on-board as advisors, including Gluck Games COO and co-founder Arvind Upadhyay.
Visit the Website: https://www.truegame.io/
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