Cryptocurrency lottery CryptoMillionsLotto has announced its pre-sale ICO to commence on Monday (June 8). The offering is being made available to US investors using Reg D 506c. Creators are promoting CML just like any other lottery as participants get to have a chance at a “life-changing” jackpot. For investors, you get something a bit more mundane – dividends.
CryptoMillionsLotto is offering an initial 25% discount on its CML tokens which pay quarterly dividends determined by revenue. This discount runs from June 18, 2018, through June 25, 2018, when CML will be sold at a 15% discount until July 2nd. The minimum investment is USD $1,000 and the company says purchasers will also receive “free shares in its publicly listed parent company.”
The ICO expects to sell 25,000,000 ERC20 Ethereum tokens priced at USD 2.50. The public sale extends through to 30 July.
The creators says that CryptoMillionsLotto offers “prizes comparable to State and National lotteries in the US and Europe.” As long as online gambling is allowed in your jurisdiction – you may be able to participate in this Lotto.
“We are very excited to be launching our ICO and confident that our unique offer combining tokens and equity ownership will be well received. As we have filed with the SEC under Regulation D, US Accredited Investors are welcome. This is a unique opportunity for people to own a real piece of the lottery, both fiat, and crypto,” said Sulim Malook, founder of CryptoMillionsLotto.
Daymon Ruttenberg, Advisor to CryptoMillionsLotto who apparently served as General Counsel to a large lottery said this is the “right time to introduce a crypto lottery and the right team to do it.”
Michael Jones, a former Director of the Illinois Lottery, who is also helping with the project stated;
“Having created the structure for the first lotto that produced a mega lottery prize, I’m pleased to serve on the Advisory Board of a fascinating company developing bold new ideas, marrying one of the world’s oldest games with the world’s newest technologies and financial instruments.”
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