Dao.Casino is building a new gaming industry infrastructure based on Blockchain – an open platform on Ethereum for gambling games. The company is raising money for project development using a revolutionary investment vehicle – a Token Sale Campaign. During the first bidding hour, the company raised USD 9.5 million. The total amount raised thus far equals USD 14.5 million.

Axon Partners has been providing legal support from the very beginning of this fundraising. Starting from choosing a jurisdiction for incorporation, right until successfully raising funds, we have been proud to partner with such a ground-breaking project. On the face of it, a Coin Offering on Blockchain seems to fall outside of any regulatory framework. However, this is a popular misconception. The main risks of using this investment vehicle include licensing, financial markets regulation and international tax treatment. Our FinTech team of Nazar Polyvka, Orest Havryliak and Vlad Likhuta have prepared a comprehensive set of legal instruments for the ICO: Token Sale Agreement, Privacy Policy, Terms of Service, AML + KYC Policy, Pre-Investment Agreement (pre-sale) and Advisory Agreement.
“Within the past six months, the very idea of an ICO or Token Sale has turned from a pipe-dream of crypto- anarchists into an extremely convenient investment vehicle. Such sales are subjected to speculation and doubt, which is hardly surprising seeing as you can raise literally millions of dollars in a matter of days. This is Axon’s third ICO/Token Sale, following successful work with Kuna Exchange and Taas Fund. This means Axon has developed cutting-edge competency in this sector and will continue to be at the forefront of Initial Coin Offerings as they develop globally”, said Nazar Polyvka, Fin Tech Department leader, Axon Partners.