I have met a few people that are huge fan of NoLimitCoin. So I would like to take a look into it and do some research.
So far my understanding is:
- There is a POS blockchain, with a coin NLC2. One can stake coins for 4% per year
- They offer fantasy sports and poker so far.
- If my understanding is correct the services are not run on the blockchain or blockchain based.
- The coin is used to bet
- They seem to have a great product and good development
- they are partnering with steemmonsters somehow
Given the above, I see very little reason why this coin can succeed. There is little advantage this project has over traditional services. They could simply offer to use a crypto and would be able to have all the same advantages as NLC2.
On the other hand starting a project like this without user base is very tough and needing a certain currency to play is a huge disadvantage for players.
The product itself here becomes useless if there is no reason for players to actually play there....
My understanding is very rough so I would like some help if you know this project understanding the fundamental value and business model.
What am I missing?