Topic: [ANN] ⚽️ FansUnite ⚾️ Sports Betting on the Blockchain - page 10. (Read 6684 times)

That's a good question, if you mean the mobile based one.

waiting wallet with that very long time? i think that not good idea. who wants to wait with that long time on 2019. seems not there who wants. better in think again.

So what will the native FU wallet offer that we can't get with any other wallet?

Definitely... I would bet it would be closer to 6x higher, if not more. We will offer the same events, most likely, just at drastically better odds for the individual bettor.

Wallet will be available in conjuncture with our closed Beta in June 2018

Hey cryptokyle,

Thanks for the support (long-term anyway ). There's definitely a little confusion as to the difference between a mobile wallet and a mobile app, our 2019 projection was a conservative timeline for a fully native mobile app launch...Also, our token is purely an ERC20 token, which will mean it can be stored on any mobile wallet that is set up for Ethereum altcoins. Our platform wallet will be available in conjuncture with our closed Beta launch June 2018.

While we do agree with your point that the price of FAN will likely shoot up significantly upon the launching of our actual betting platform, I think your expectation that we just build out a full functioning book already operating with a 1% margin and high liquidity with zero funding is a little unrealistic - the entire point of a token sale is to generate funds to build, market and license this project. As we are taking a fully regulatorily compliant approach, there are significant legal and startup costs associated with securing licenses globally. In addition, in order to meet our aggressive timelines and plans for rapid market acquisition, there are equally significant development and marketing costs that we will be incurring.

As always, thanks for all the feedback guys.

Yeah, like the fact that it's 2x-3x higher than FansUnite.

I'm sure there's a good reason they aren't disclosing their fees.

Agreed, whole purpose of having a functional token like this is the ability to use it. With the mobile launch and beta so far away, there is very little incentive to buy this token in an ICO. It will not likely appreciate much in price from ICO date until platform launch as the team is not doing anything particularly innovative in the blockchain space. You are just building a sportsbook with low margins. This ICO would be more successful if you had a current website we could bet on with just bitcoin for instance to get excited about the low margin offerings with high liquidity. And then you could present the ICO and you'd raise a whole lot more.

Something like Wagerr may or may not work out, but at least there is a rationale for an ICO for a project like that. I'll wait for this one and look forward to using your platform as a bettor myself when it is ready in fall of next year, but I will be holding other coins/tokens until that time as they offer far more growth from now until that time. This token has no incentive to 'get in early' so to speak. Hold your bitcoin and/or altcoins and buy this one next year guys. You'll have a lot more FAN to bet with that time. If all the tokens in week 1 were sold, it'd raise 117,000 ETH. This project doesn't need 35+ million. It could do fine with 1/10 of that amount. The minimum raise of this project at 5,000,000 should actually be the hard cap if valuations actually mattered in the crypto space.

That is a super long time. Maybe if this is more successful they'll be able to allocate the resources and get it done sooner?

I'm glad you have someone reliable helping you with this part. The legal aspect is probably the scariest when it comes to this area.

As long as there is innovation in one of the two, I see no problems. I definitely believe your platform will be novel.

Yeah that would have been a nightmare.

Need to wait until 2019 to have a mobile wallet?? That's too long.

That's a bold move for Wagerr, very risky it seems like. I do wish something like that existed, I think people should be able to do what they want, but I'm not willing to bet money on it happening.

Hi 2l84aa, thank you for the question. Yes, there are some other token based betting platforms. I will describe the major differences between them and FansUnite. That being said, they are not our biggest competitors, in my mind. I believe that our biggest competitors will be the traditional online sportsbooks.

The difference between FansUnite and the other token based betting platforms are:
 
Unikrn
Unikrn plans to offer a betting platform catering to the eSports market only. They are also built on Ethereum and, though not stated, we presume that their fees are in line with traditional books. They have a good existing user base and platform, though only servicing the eSports betting market means they are not a direct competitor for us.
 
Decent.bet
Decent.bet is primarily a casino based platform built on Ethereum, though they do also contain a small section in their white paper outlining plans to also incorporate sports betting. As it is very briefly mentioned, we do not anticipate this being a core offering for them. In addition, we anticipate them offering a very standard sports betting platform with no novel features. Their token is also highly likely to be graded as a security given periodic dividends.

Peerplays
The major difference between FansUnite and Peerplays, from a betting perspective, is that Peerplays are building a peer to peer betting platform. Essentially, Peerplays will be building a betting exchange in which one user bets against another user, necessitating the finding of an opposing side to your bet before bets are accepted. Liquidity may be a major issue for PeerPlays, much like other attempted betting exchanges have been pushed out by BetFair's monopoly in the space. FansUnite will be building a platform more akin to a sportsbook like Pinnacle or Bet365 where we, as the house, take the other side of member bets. We will likely also offer an exchange component to our services, but it will not be the core offering as we cannot presume to be able to compete with the liquidity that BetFair has in the space.


Wagerr
Wagerr is a fully decentralized betting platform building on their own public blockchain. Their aim is to provide a betting platform free of all regulatory oversight. This is in stark contrast to our approach, as we plan to work in compliance with betting authorities and secure all applicable licenses to operate in the jurisdictions we offer betting services to. This is a priority for us as unlike the Wagerr team, who plan to step away from their project, we wish to operate this for the long-term and continue to develop and improve the platform. Further, all indications are that the odds offered by Wagerr will be in line with the odds offered by traditional sportsbooks, while our odds will be significantly more favourable to the individual bettor. The time to resolve bets and get money back in the hands of the bettor will also be much longer on Wagerr as compared to FansUnite.

All this being said, we would do what we can to support and work with these other token based betting offerings. There is room enough for all of us in the space, and more competition can only help ensure wonderful offerings to the betting public.

Of course, there are others which are purely prediction markets, which do not offer the same experience for sports bettors as detailed in this Medium Post: https://medium.com/fansunite/prediction-markets-sportsbook-1189a3bee2d0. The major players in the prediction markets space are Gnosis, Augur, and Stox.

Thank you very much for your support dentolas! We are very excited about the FansUnite platform and community and have great confidence in our marketing team. They previously did a lot of marketing for FanDuel, so know exactly where our target demographic resides and how to get their attention.

The innovation is definitely concentrated on our platform and service offerings. Information regarding our token can be found here - https://medium.com/fansunite/fansunite-token-and-crowdsale-bb6d1a07be3e

Yes, definitely. We are still working with Segev LLP and ISOLAS. We have the utmost confidence in these two parties.

Yes, there is a signature campaign. The first post here contains the information - https://bitcointalksearch.org/topic/bountyico-fansunite-sports-betting-on-the-blockchain-2227501

Sorry, I would have reproduced it here for you, but it would clog this thread as it's quite lengthy.