Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Freebieservers.com Diversifying Into E-sports Betting  (Read 1700 times)

Offline Xypher

  • Moderator
  • Sr. Member
  • *****
  • Posts: 304
    • View Profile
Freebieservers.com Diversifying Into E-sports Betting
« on: June 19, 2015, 07:54:29 PM »

Over the last few months we’ve been mentioning a “secret” project to a number of associates. We’ve been researching ways to revamp our cash-flow and create businesses that don’t solely create profit for us, but also add value to the ecosystems we’re involved with. Post vetting a large number of “potential” opportunities, we’d short listed a couple things to enable us to evolve into a gaming conglomerate. During this period, we’ve also been involved in the creation of an exchange, a tipping platform, helping fellow coin devs with their projects and experimenting with a laundry list of operations to see what works best for us. Today, we’re happy to announce the brief on our new project. Freebieservers.com is expanding to E-sports with its new venture.


What is it about ?

We’re building a legal betting platform for gaming leagues. We believe Esports stands to grow substantially over the coming years and combining the power of crypto with it enables us to create cultural shifts amongst our target demographic, while ensuring profitability and scale.  The new betting platform stands to do 6 million dollars a month in revenue once at scale and work within a multi-billion dollar industry with very little competition.


Are you targetting a future market / What are the profit figures like ?

Currently, most league pool sizes run into the millions of dollars with spectators easily crossing 2-3 million for major matches. In addition, smaller matches have thousands of viewers via a public stream. These are enthusiastic gamers with relatively high buying power looking for added sources of entertainment. By developing a betting platform targetted at them, we believe we can run this in the current market scenario in profit. For profit figures from  an existing competitor, refer to the document shared below


What about legalities ?

Given the nature of the business, we’ll be working with a compliance officer and a legal firm to ensure the smooth functioning of the business. We’ll be avoiding a US registration and looking at offshore solutions to make the same happen. 



How does your existing business position with this ? Will you quit FS ?

FS has and will continue to be the foundation stone for our growth. The reason why we believe in diversification now, is due to a repeat growth pattern we’ve seen at FS. Since we’re launching new projects aimed at gamers, FS will act as the marketing front for the new projects, thereby funneliing a larger user base for the new projects. In exchange, FS key source of revenue will be advertising spents from the other projects on FS, thereby creating a synergy that helps sustain the business. 


How will a crypto benefit from this ?

Over 1.2 million USD worth items pass through betting in a single week. By having these transactions occur on the blockchain, a currency backing the project stands to see substantial volume and demand. In December 2014, we’d proven our hypothesis that gamers stand to garner interest in crypto by bringing in 10000+ Wallet sign ups for Nxt with a partnership with Mynxt.info . We believe any crypto partaking in a collaboraiton stands to see atleast a 100,000 added transactions every week and scale up from there.


Are you raising funds ?

We’re raising a total of 120 Bitcoins for the project. The money will be split between marketing and development funds. This should help us release our MVP. The time frame for delivery of the project will be 60 days post raising of funds. We’re happy to work with an escrow / Audit for the development of the project. We are trying to avoid an equity based deal due to the nature of the project, but it is an option on the table.


Business plan and other details :  https://www.dropbox.com/s/vfp02mud3np625q/ExecutiveSummary.pdf?dl=0






Note : We are currently looking at Bitshares and Nxt as a potential backer for the project.

Offline bytemaster

Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #1 on: June 19, 2015, 08:10:00 PM »
The prediction markets built into BTS 2.0 combined with SmartCoins tied to fiat currencies are ideal for what you are trying to do.   

BitShares enables anyone to provide a web wallet and to judge prediction markets, all you need to do is drive traffic to the site and publish decisions.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Xypher

  • Moderator
  • Sr. Member
  • *****
  • Posts: 304
    • View Profile
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #2 on: June 19, 2015, 08:14:49 PM »
From a product pov, Bitshares makes a lot of sense. We've had a good run with Nxt too. Now, it boils down to capital infusion because at the end of the day that matters too.

Offline Ander

  • Hero Member
  • *****
  • Posts: 3488
    • View Profile
  • BTS: Ander
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #3 on: June 19, 2015, 08:16:01 PM »
This is huge.  We need this, it will bring in tons of people who have never been interested in crypto before.

As Bytemaster said, Bitshares will have the features that make it perfect for exactly what you want to do.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline vikram

Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #4 on: June 19, 2015, 08:19:26 PM »
Stakeholders should note pp. 14:
Quote
Benefits to Potential Backers

Since one of the USP’s of the business is an active and strong integration of crypto­currencies into the heart of the project, we’ve been analyzing and learning what a wide number of crypto­currencies could add as value to the business for the past few months. On the basis of our research we found synergies in a collaboration with Nxt’s Asset Exchange as a potential source for funds, Play shares as a potential market to advertise this to and Bitshares as the go­to solution for quickly confirmable, cheap transactions. Given the string of recent announcements from the Bitshares team, we believe a collaboration with Bitshares makes the most sense, as the product offerings stand to be substantially higher and better.
At the core of any business collaboration is a synergy that benefits all parties involved. While we’re actively looking for ways to fund this from communities,in exchange we offer to push the technology offered by the backer to the masses via our string of websites. Since any betting platform would see thousands, if not hundreds of thousands of transactions on a daily basis, utilizing something like Bitshares allows the network to have a large number of early adopters. By creating a “gaming economy”, we bring not only users to the system, but also potential customers for a wide number of services currently being developed in the ecosystem.
With an active integration into the business, any coin supporting the project gets to leverage the increased circulation of their coin, thereby inducing demand into the markets. This would further elevate the price of the coin, shed positive light on the creation and help attract other businesses. As a team, the company is happy to work closely with external devs in pro­actively integrating coin features to create a seamless experience for those that are interested.

Offline Xypher

  • Moderator
  • Sr. Member
  • *****
  • Posts: 304
    • View Profile
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #5 on: June 19, 2015, 08:24:59 PM »
Stakeholders should note pp. 14:
Quote
Benefits to Potential Backers

Since one of the USP’s of the business is an active and strong integration of crypto­currencies into the heart of the project, we’ve been analyzing and learning what a wide number of crypto­currencies could add as value to the business for the past few months. On the basis of our research we found synergies in a collaboration with Nxt’s Asset Exchange as a potential source for funds, Play shares as a potential market to advertise this to and Bitshares as the go­to solution for quickly confirmable, cheap transactions. Given the string of recent announcements from the Bitshares team, we believe a collaboration with Bitshares makes the most sense, as the product offerings stand to be substantially higher and better.
At the core of any business collaboration is a synergy that benefits all parties involved. While we’re actively looking for ways to fund this from communities,in exchange we offer to push the technology offered by the backer to the masses via our string of websites. Since any betting platform would see thousands, if not hundreds of thousands of transactions on a daily basis, utilizing something like Bitshares allows the network to have a large number of early adopters. By creating a “gaming economy”, we bring not only users to the system, but also potential customers for a wide number of services currently being developed in the ecosystem.
With an active integration into the business, any coin supporting the project gets to leverage the increased circulation of their coin, thereby inducing demand into the markets. This would further elevate the price of the coin, shed positive light on the creation and help attract other businesses. As a team, the company is happy to work closely with external devs in pro­actively integrating coin features to create a seamless experience for those that are interested.


We've  had a steady record of working with external devs. We have in-house devs, but while working with externally developed tech, we find it optimal to collaborate with the creators themselves.  With 2.0'S launch, yes a large chunk of the features mentioned will be of benefit to the platform.

Offline vikram

Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #6 on: June 19, 2015, 08:34:08 PM »
Stakeholders should note pp. 14:
Quote
Benefits to Potential Backers

Since one of the USP’s of the business is an active and strong integration of crypto­currencies into the heart of the project, we’ve been analyzing and learning what a wide number of crypto­currencies could add as value to the business for the past few months. On the basis of our research we found synergies in a collaboration with Nxt’s Asset Exchange as a potential source for funds, Play shares as a potential market to advertise this to and Bitshares as the go­to solution for quickly confirmable, cheap transactions. Given the string of recent announcements from the Bitshares team, we believe a collaboration with Bitshares makes the most sense, as the product offerings stand to be substantially higher and better.
At the core of any business collaboration is a synergy that benefits all parties involved. While we’re actively looking for ways to fund this from communities,in exchange we offer to push the technology offered by the backer to the masses via our string of websites. Since any betting platform would see thousands, if not hundreds of thousands of transactions on a daily basis, utilizing something like Bitshares allows the network to have a large number of early adopters. By creating a “gaming economy”, we bring not only users to the system, but also potential customers for a wide number of services currently being developed in the ecosystem.
With an active integration into the business, any coin supporting the project gets to leverage the increased circulation of their coin, thereby inducing demand into the markets. This would further elevate the price of the coin, shed positive light on the creation and help attract other businesses. As a team, the company is happy to work closely with external devs in pro­actively integrating coin features to create a seamless experience for those that are interested.


We've  had a steady record of working with external devs. We have in-house devs, but while working with externally developed tech, we find it optimal to collaborate with the creators themselves.  With 2.0'S launch, yes a large chunk of the features mentioned will be of benefit to the platform.

To be clear, I was not making any other comment other than this could be a great opportunity for stakeholders and we should pay attention and see what we can build together.  :)

Offline arhag

  • Hero Member
  • *****
  • Posts: 1213
    • View Profile
    • My posts on Steem
  • BTS: arhag
  • GitHub: arhag
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #7 on: June 19, 2015, 08:38:56 PM »
The prediction markets built into BTS 2.0 combined with SmartCoins tied to fiat currencies are ideal for what you are trying to do.   

Is the way to make money off of the activity of a particular prediction market (from which you can pay the judges who report on the outcome) to charge a market fee on trades of the privatized BitAsset/SmartCoin representing the prediction market? In that case, wouldn't the manager of the asset need to continuously be converting the collect fees (which are in the form of the asset representing the prediction market, let's call it BitPM) into the other trading pair (such as BitUSD) so that their revenue is not exposed to the outcome of the prediction market? For example, if they delayed converting the fees and then news came out making the outcome a little more certain and let's say it shifted consensus towards the side of the short (meaning towards 0 price on BitPM), then the manager of BitPM would have lost a lot of revenue.

Because they are in the business of making the prediction market possible and not gambling one way or another on the outcome, they would want to convert BitPM into BitUSD as soon as possible as they receive more. In the limiting case, this means every matched order needs another limit order by the manager to convert collected BitPM fees into BitUSD. This is something that is begging for automation by the blockchain. It would be better if the BitPM manager could choose to collect their fees as BitUSD instead. But BitUSD might have its own fees determined by the manager of that asset (I guess the delegates in the case of BitUSD?). So what the prediction market creator really wants (which can of course generalize to all privatized BitAsset creators) is to restrict their asset to only trade in markets against a whitelisted set of BitAssets and to collect the fees as the other asset type. Meaning in the BitUSD/BitPM market, for example, there could be 0% fee on the BitPM side but a non-zero percentage fee on the BitUSD side that partly goes to the BitUSD manager and partly goes to the BitPM manager (also as an aside, it is worth noting that asymmetric fees would likely distort any naive inferences made from the BitPM price on the market's expected probability of the PM's described event occurring). I don't think such a thing is currently possible with Graphene, correct? Do you see the value in adding such a feature? If not, what reasonable practices do prediction market creators need to adopt to make money?
« Last Edit: June 19, 2015, 08:42:21 PM by arhag »

Offline Xypher

  • Moderator
  • Sr. Member
  • *****
  • Posts: 304
    • View Profile
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #8 on: June 19, 2015, 09:10:00 PM »
Stakeholders should note pp. 14:
Quote
Benefits to Potential Backers

Since one of the USP’s of the business is an active and strong integration of crypto­currencies into the heart of the project, we’ve been analyzing and learning what a wide number of crypto­currencies could add as value to the business for the past few months. On the basis of our research we found synergies in a collaboration with Nxt’s Asset Exchange as a potential source for funds, Play shares as a potential market to advertise this to and Bitshares as the go­to solution for quickly confirmable, cheap transactions. Given the string of recent announcements from the Bitshares team, we believe a collaboration with Bitshares makes the most sense, as the product offerings stand to be substantially higher and better.
At the core of any business collaboration is a synergy that benefits all parties involved. While we’re actively looking for ways to fund this from communities,in exchange we offer to push the technology offered by the backer to the masses via our string of websites. Since any betting platform would see thousands, if not hundreds of thousands of transactions on a daily basis, utilizing something like Bitshares allows the network to have a large number of early adopters. By creating a “gaming economy”, we bring not only users to the system, but also potential customers for a wide number of services currently being developed in the ecosystem.
With an active integration into the business, any coin supporting the project gets to leverage the increased circulation of their coin, thereby inducing demand into the markets. This would further elevate the price of the coin, shed positive light on the creation and help attract other businesses. As a team, the company is happy to work closely with external devs in pro­actively integrating coin features to create a seamless experience for those that are interested.


We've  had a steady record of working with external devs. We have in-house devs, but while working with externally developed tech, we find it optimal to collaborate with the creators themselves.  With 2.0'S launch, yes a large chunk of the features mentioned will be of benefit to the platform.

To be clear, I was not making any other comment other than this could be a great opportunity for stakeholders and we should pay attention and see what we can build together.  :)

Sounds good. Lets hope we find  way to make this happen !

Offline monsterer

Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #9 on: June 20, 2015, 11:20:10 AM »
You have a massive opportunity here - if you are able to front the cost of a gambling licence in whichever jurisdiction is the most cost effective, you stand ready to create a platform for blockchain based gambling.

You could create an API which handles the provably fair aspect of the system (and where the bet is struck, crucially) to allow multiple other 3rd party projects to integrate with you, under the umbrella of your licence. In exchange for these services, you take a cut of their profits.

There is nothing like this in the crypto space at the moment, this would be a novel project.
My opinions do not represent those of metaexchange unless explicitly stated.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Xypher

  • Moderator
  • Sr. Member
  • *****
  • Posts: 304
    • View Profile
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #10 on: June 20, 2015, 12:02:00 PM »
You have a massive opportunity here - if you are able to front the cost of a gambling licence in whichever jurisdiction is the most cost effective, you stand ready to create a platform for blockchain based gambling.

You could create an API which handles the provably fair aspect of the system (and where the bet is struck, crucially) to allow multiple other 3rd party projects to integrate with you, under the umbrella of your licence. In exchange for these services, you take a cut of their profits.

There is nothing like this in the crypto space at the moment, this would be a novel project.

The amount of positive responses we've had so far is humbling.
Yes, there's nothing like this in the crypto-space so far. Currently, with our user reach we are already one of the biggest gaming oriented start-ups  in the crypto-sphere. By focusing on profitability and scale head on through diversification of revenue streams we intend to further strengthen our position.  I have had a number of people willing to support the initiative in the coming weeks and am contemplating how to go about raising funds, ensuring its used effectively and delivering on our promises. Will post updates as I talk to the team :)

Appreciate the interest.

Offline Empirical1.2

  • Hero Member
  • *****
  • Posts: 1366
    • View Profile
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #11 on: June 20, 2015, 12:59:10 PM »
You have a massive opportunity here - if you are able to front the cost of a gambling licence in whichever jurisdiction is the most cost effective, you stand ready to create a platform for blockchain based gambling.

You could create an API which handles the provably fair aspect of the system (and where the bet is struck, crucially) to allow multiple other 3rd party projects to integrate with you, under the umbrella of your licence. In exchange for these services, you take a cut of their profits.

There is nothing like this in the crypto space at the moment, this would be a novel project.

The amount of positive responses we've had so far is humbling.
Yes, there's nothing like this in the crypto-space so far. Currently, with our user reach we are already one of the biggest gaming oriented start-ups  in the crypto-sphere. By focusing on profitability and scale head on through diversification of revenue streams we intend to further strengthen our position.  I have had a number of people willing to support the initiative in the coming weeks and am contemplating how to go about raising funds, ensuring its used effectively and delivering on our promises. Will post updates as I talk to the team :)

Appreciate the interest.

I agreewith monsterer, if you are able to offer betting, there is very lucrative blockchain based gambling market potentially much larger than just game leagues especially if you get to be one of the first movers in this area on BTS 2.0

I will be very interested to see where you guys take this. Good Luck
If you want to take the island burn the boats

Offline lakerta06

Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #12 on: June 20, 2015, 01:04:36 PM »
If you partner with BitShares, you should do the fundraising in terms of bitBTC or better yet bitUSD.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Shentist

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 1605
    • View Profile
    • metaexchange
  • BTS: shentist
Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #13 on: June 20, 2015, 03:50:43 PM »
Question:

You need 120 BTC but not for equity - correct?

So you need to wait for BTS 2.0 and get a worker elected to get you this funds from our community or do you see a different approach?

The new referral program alone is a big incentive to build it into BitShares.
« Last Edit: June 20, 2015, 03:52:25 PM by Shentist »

Offline monsterer

Re: Freebieservers.com Diversifying Into E-sports Betting
« Reply #14 on: June 20, 2015, 06:15:30 PM »
I agreewith monsterer, if you are able to offer betting, there is very lucrative blockchain based gambling market potentially much larger than just game leagues especially if you get to be one of the first movers in this area on BTS 2.0

I will be very interested to see where you guys take this. Good Luck

So much larger than just one product - imagine taking a 50% cut of every single blockchain based gambling product on your platform?
My opinions do not represent those of metaexchange unless explicitly stated.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

 

Google+