Token sales are gaining momentum as the fear of missing out (FOMO) continues and as investors work to find the next big thing. Earlier this year, Metacade raised over $16 million from investors. Today, the token has a market cap of over $25 million. Chancer, on the other hand, has raised almost $400k in less than three weeks.
What is Chancer?
Chancer is a new company that is seeking to disrupt a giant industry that is still growing. It is aiming to disrupt the sports betting and prediction market using the blockchain technology. This is a giant industry that is valued at billions of dollars.
Some of the biggest companies in the sector are multi-billion dollar enterprises. For example, DraftKings is worth over $11 billion while Penn Entertainment is valued at over $4 billion. Other companies in the industry are Flutter Entertainment, Entain, and 888 Holdings among others.
Betting is gaining popularity, especially in the United States, where many states have now legalized online sports wagers. Analysts believe that more states will continue accepting betting in the coming years.
Chancer is aiming to introduce a platform where people can bet and create their own markets. For example, any Chancer user can create a market and let their friends and social community place wagers on it.
The $CHANCER token will help to power the ecosystem in several ways. First, the token will help to power the overall decentralization of the ecosystem. In the future, when the network gets fully decentralized, holders will be able to vote for key changes in the ecosystem.
Decentralization is believed to be better than centralization. For one, token holders will be able to receive rewards and have their voice heard in the ecosystem. In their white paper, the developers advocated for a quadratic governance process.
Second, $CHANCER token holders will be able to create and monetize their markets. For example, you can create a simple market of two local teams that are playing a match.
Further, since this network will be a proof of stake, CHANCER holders will be able to make staking returns in the ecosystem.
Chancer third quarter outlook
Chancer developers have a lot planned in the third quarter. First, the token sale will continue in the third quarter. They hope that the first stage of the token sale will complete soon. In the first stage, the developers are raising $1 million, with each token selling for 0.01 BUSD. The price in the next stage will be at 0.011 BUSD.
The other plans for the token sale are token listing on Uniswap, CoinGecko, and CoinMarketCap, and other other popular centralized exchanges. They will also continue building their BETA platform, and initiate the validator node program.
Is $CHANCER a good investment?
Chancer seems like a good investment. For one, buyers of the first phase are assured that their tokens will be more valuable in the next phase.
However, investors should be cautious when investing in token sales or Initial Coin Offerings (ICO) because of their significant risks. Therefore, if you are interested in Chancer, we recommend a situation where you allocate a small portion of your funds in the token. This means allocating funds that you can feel comfortable losing. You can buy the Chancer token here.