As you might know or have heard 3-6dice.com is a gambling dice game , and we recently crossed 10,000 bets , that is considering the new game came out less than 5 days ago. I am thinking of raising some amount for the new android/iphone version for the game and also for increasing the bankroll so that bigger bets can be made. So my question is how i start with this . Is IPO a good option ? I am a complete noob in this and would thus really appreciate some advice on how to go forth . What would be needed and how it works.
Regards,
axorb
Hey axorb,
there is acouple of things you might want to think about before you into wanting to do IPO:
Pros: allowing others in the crypto currency community a chance to be involved in your business, the fun of creating a security
Cons:It take alot of work to get business plan and shareholder agreement, forecasts done and it involves alot of transparent reporting to shareholders (or bondholders) of how the business is going and weekly dividend payments
Given the amount of effort that is involved I would only look at a IPO if raising more than 250BTC.
otherwise I am sure you could come up with a lighter business plan and get 1-4 investor on board without all the paperwork.
Have you worked out approxamaitely how much you need?
This is good advice. You should also consider the cost to just list the security somewhere (~2-10BTC a few months ago). There's a lot of regulatory risk you're exposing yourself, your business, and others to by offering an IPO (without country restrictions). You're risking a clusterfuck if the securities exchange should go offline, or if the operator runs off with funds. Offering something to the public generally comes with a lot of extra work you could otherwise be spending on development, especially if you have someone difficult to deal with. There are a lot of cons, but you can raise hundreds of BTC or more within a few weeks with solid stats, a long and reputable history, and a good plan.
I'd argue against it unless you're looking to raise hundreds of BTC and you're sure this is absolutely necessary to develop.