The creation of an Initial Coin Offering (ICO), has been announced by the Ganapati Group. The company’s subsidiary, GanaEight Coin Ltd., located in Malta, created the new tokens, known as G8C or G Eight C, that will be made available to online casinos.
The parent company of the Ganapati Group, Ganapati PLC, has subsidiaries as well as offices around the world, including in locations of Malta, Los Angeles, Estonia and Curacao. The Malta location has a license for online casino gaming that was provided by the Malta Gaming Authority, with the location supplying online slot gaming options that combine a traditional European online gaming experience with Japanese-style content.
Ganapati has been able to gain in popularity on an international level over the past few years, having received four gaming nominations in a two-year time frame. The company was nominated for best casino product with Pikotaro’s Pineapple slot as well as named one of the top ten must-see companies in the industry during ICE Totally Gaming 2018.
Malta is considered a leading location for cryptocurrency and online casino operations. Law regarding cryptocurrency was approved recently in the region, with the country expected to be a mecca for blockchain. Cryptocurrency promotion in the country will put a business at an advantage. With GanaEight Coin Ltd’s token, the ICO can be used on its own blockchain to wager and play. A GAS (transmission fee) is not required and it is not necessary for tokens to be exchanged for chips.
According to Ganapati, the company believes that most online casinos will be using blockchain in the future and they are currently developing an online casino platform that is based on proprietary blockchains that will blend their unique IT technology with Japanese content, their finance and online casino industry knowledge as well as casino experience.
The company has plans for pre-sales in the first quarter of 2019. Details of the launch will be provided to the public as they are decided upon by the company.