Introduction:
Entertainment is one of the most valuable aspect in our lives. People spend thousands of USD a year to have fun. Entertainment can be anything, from watching movies, going to music concerts, playing computer games, watching sports and even more. Entertainment is defined as something, which someone enjoys to do and is willing to pay money for it. Most entertaining activities require money, but some also can return and earn you money. This is the case for the gambling industry, where one can lose, but also win money on a correct prediction of a sports event.
The online global online sports betting market had a revenue of 18,2 billion USD in 2015. For 2020 a growth to 27,2 billion USD is to be expected, as the expanding internet-using population grows also.
As the gambling market is growing, more people are going to register to betting websites and deposit fiat money to place their bets. A major problem of betting websites is that there a quite a lot of restrictions about the deposit amount when paying from a bank account. By using the blockchain technology, those barriers can be overcome.
GIFcoin is a currently ongoing project, which will operate on the blockchain and deals with online gambling.
What is GIFcoin?
The "GIF" in the word GIFcoin stands for "Gambling Investment Fund". GIFcoin is a profit-share token based on the blockchain technology, which is backed by a working betting website, with over 20.000 active users, called vitalbet (vitalbet.com). Vitalbet is one of the few online betting websites, which have introduced cryptocurrency payment (deposit and withdrawal in form of Bitcoin) as well as betting with cryptocurrency on their website. Since the beginning of 2017 this is working really good for vitalbet with a continiously growing user base enjoying sports betting, casino, live casino, in-play betting, eSports and virtual sports. This covers almost all the the important sections a successful betting website needs to have. With GIFcoin all token holders can benefit from the growth of the betting website, since 80% of the annual profit will be shared accordingly to the number of tokens holding. With a 900.000 active user base (which is predicted to be reached by end of the year if all the timeline goals will be achieved), a total profit of 324 million USD is predicted. This will equal in theory a profit of 0.39$ per token, based on the 300.000.000 token supply. With an increasing userbase in the upcoming years, profit thus will grow accordingly.
Arguments why GIFcoin will succeed:
- GIFcoin not only has a great project idea, but also, unlike many other ICOs, have an already working product/project with the betting website vitalbet
- With their crowdfunding campaign (ICO), GIFcoin is raising money to grow their business, so everyone can participate together in the success of the project
- Great marketing and advertising will bring in more users, increasing the overall profit of the project
- With the gambling market growing every day, it is a perfect time to join the fast growing market
- GIFcoin/Vitalbet will not keep all their profits for themselves, but rather distribute 80% of their annual profits to all token holders, which maintains a sustainable growth of the token value
- Besides Bitcoin, also Ethereum, Litecoin, Ripple, Dash and more will be added as a payment method on Vitalbet, expanding the user experience and attracting even more customers
- Cryptocurrencies offer fast transaction times and secure transactions over the blockchain
Information about the GIFcoin token:
- The total supply will be 300.000.000 GIFcoin Tokens
- 1 ETH grants 10.000 GIFcoin Tokens
- For payment methods, only ethereum will be accepted
- Pre-sale will start on the 22.02.2018
- Sale will start on the 16.03.2018
- The minimum contribution amount is 0.01 ETH and there is no maxiumum purchase limit
Here you can see, how the 300.000.000 GIFcoin tokens will be distributed:
The funds will be used for :
Roadmap:
What I really like about this project is their clear roadmap, which is divided into 4 stages. With stage 1 almost completed, there are alot of things to be done in the near future to finally realize a big profit share distribution at the end of the year to all token holders. Besides expanding the team, the team is really putting a lot of effort into further developent, to accomplish a better user experience, as well as expanding the user base until the end of the year to 1 million users.
The Team:
The team of Vitalbet has not only great experiences in the gambling/betting section, but also has great blockchain and IT experts, as well as great marketing and PR knowledge. To find more about the team members of Vitalbet, simply go to their official website, where you can view the linkedin profile with more detailed information about their team members.
My opinion:
I'm enjoying watching sport events myself and really enjoy betting on the teams I watch and support. Especially the section esports is currently growing fast. With also the gambling industry market growing year by year, I see a huge potential in investing into the gambling industry. GIFcoin is in my opinion a really interesting project offering the first gambling investment fund on the market with a realistic goal to gain a good return on invement. With their already established betting website with over 20.000 active customers and their first mover advantage, I really can foresee a huge success for this project. Overall the GIFcoin project looks very promising to me. I am wishing the team a successfull ICO and I am excited to see how the project will develop in the next few months.
Further information:
If you are interested in the GIFcoin project, kindly check out their official website, their whitepaper for additional information on open questions, and their communication channels to stay up to date:
Website:
Whitepaper:
Twitter: https://twitter.com/gifcoin_io
Facebook: https://www.facebook.com/gifcoin.io
Telegram Chat: https://t.me/gifcoin
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2785607.0
My Bitcointalk Profile (Rano): https://bitcointalk.org/index.php?action=profile;u=1609093