Nevula, a blockchain-based casino project, reached its $ 50 million limit for its ICO which started at 11 amth November 2018. The project was launched by Chain Base Pte Ltd, a Singaporean company specialized in blockchain.
The project managed to raise $ 53 million from investors who will be channeled into making deposits for casinos. The Project Nevula it is different from the rest since it will allow token holders to use crypt in land based casinos in Asian countries like Macau, Philippines, Malaysia and Cambodia.
At the moment, the team chose Tekken Video Slots as the first batch of machines to be deployed in casinos. Nevula believes that the business strategy that Bandai Namco Entertainment has implemented will enable the platform.
Nevula will also channel some of the funds that have been collected to invest in IR-related projects. Nevula tokens will be used in casinos in Asia but by 2020 the platform hopes to have their product available in the main regions of the world.
Nevula believes that the use of blockchain technology to generate tokens for land-based casinos will give the project a competitive advantage as most projects have focused on on-line casinos.