Breakout Gaming, the gambling startup which is backed by various poker pros such as Johnny Chan, Huck Seed, Jennifer Harman plus many more, yesterday launched their "Initial Coin Offering" in the hopes of raising between 7,000 and 10,000 bitcoin.
The "ICO", which was structured in such a way to create a sense of urgency amongst investors by giving them bonus amounts of BRO for purchasing sooner than later, appears to have failed with the company raising a mere 40 bitcoin during the first 24 hours with an additional 9.67 since. This appears as somewhat of a contradiction to the clearly legitimately obtained 53,000 Likes1 that the company has received on its Facebook page.
Re-evaluating how much bitcoin they need for the project to go ahead, Breaking Gaming now hope to raise a minimum 1,000 bitcoin over the 30 day period of the ICO. On the BitcoinTalk.org forum, a representative for the company stated:
We need a minimum of 1000 BTC. That would keep the coin going with adequate support. A total collection of 7 to 15 thousand BTC would enable our planned delivery of 1) strong coin development and 2) demand growth by stimulating use and liquidity of BRO. The more BTC collected in the ICO, the more the demand for the BRO will be reinforced by global marketing and coin refinements that keep it on the leading edge. Marketing and development funds will be spent in the best ways for BRO, as described in the offering, and have no logical upper bound.
Investors of the coin were asked to create a BRO wallet using the website which was then downloaded as a .json file. While Breakout Gaming does not list the Bitcoin address on its website to which the funds are sent, the address – 33Bghpzm4pgbSRgnqS63ZBf6dnSjbGc6Sf – can be viewed here.