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Freebieservers

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Re: Freebie E:sports
« Reply #20 on: July 03, 2015, 11:32:41 am »

5% profit and 0% equity seems low for the amount of funds being raised.  I think it would have been more appropriate to have issued assets totaling 100% representation of the profit of this project and then only putting 5% of them up for sale.  The effect would be the same (same amount of funds raised) but would have put my mind at ease, plus given flexibility should you need to raise more funds or to reward yourself by selling a larger stake in the future (at a higher price).

I am unfamiliar with the revenues of E-Sports betting and will prob wait to see if 5% is truly enough of a return to justify jumping in. Looks promising though.

I think most people don't realize we are only raising 15k here in comparison with the 150-200k raised by most projects. I think ti won't make sense to list 100 percent on the blockchain when there's clearly only 5 percent of the profit shares  on sale. FS has had a consistent history of delivering on projects and promises and we've played  our role in developing a number of major projects here so am confident we'll be able to deliver on this one too. The current funds are to be used mainly for the product and legal aspects.

I'll be promoting thegambit.io via twitch in the days to come to try and see how much money flows through such betting projects. A basic raffle I set up had around 1.2k USD being wagered an am sure this number will increase incrementally as we perfect the product and  focus again on marketing.

For those with vested interest in the project, here's a brief on the legalities
https://docs.google.com/document/d/1Y9l4mtuWk_NupS8xEU6iiwiY0iO-23F2eGJELKmkaDU/edit?usp=sharing

That doc goes over some of the details of registering in Costa Rica.  Costa Rica appears to be an ideal location because of their hands off approach and the low licensing costs.  There is also a huge community of online casinos operating there making it harder for the gov't to change policy or come down hard on the industry. 

Other places like Isle of Man have fees that would kill us and require a ton more money and they have smaller number of businesses operating out of them making it easier for them to decide to damage the industry with more fees and regulations


I'll be announcing the domain name and getting down to making further announcements over the weekend.
Appreciate the interest and concern Omega, feel free to HMU if there's anything i can clear your worries over.
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Omega

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Re: Freebie E:sports
« Reply #21 on: July 03, 2015, 06:38:30 pm »

AH! So you are basically only issuing 5% of the project via the AE.  That makes much more sense.  These funds only partially fund your venture, so you're only issuing part of the profit shares via this platform. 

In this case once you are further in development, would you mind issuing some kind of report or statement showing the breakdown of how the project was funded (including self-funding) as well as the ownership breakdown (5% on AE, 20% owned by self, 50% private investors, etc. for example)?  With these sorts of things I think its important to investors to know the breakdown, even the parts not on the AE.  I personally feel much better when everything is accounted for, even if most "ownership" isn't publicly obtainable. 

I think you are making a good choice with Costa Rica.  I know several crypto-betting projects/companies that chose to set-up-shop there.  USA's anti-online betting laws are pretty random.  Result of having a few old geezers creating legislation for things they don't understand at all. 
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Freebieservers

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Re: Freebie E:sports
« Reply #22 on: July 03, 2015, 06:53:49 pm »

AH! So you are basically only issuing 5% of the project via the AE.  That makes much more sense.  These funds only partially fund your venture, so you're only issuing part of the profit shares via this platform. 

In this case once you are further in development, would you mind issuing some kind of report or statement showing the breakdown of how the project was funded (including self-funding) as well as the ownership breakdown (5% on AE, 20% owned by self, 50% private investors, etc. for example)?  With these sorts of things I think its important to investors to know the breakdown, even the parts not on the AE.  I personally feel much better when everything is accounted for, even if most "ownership" isn't publicly obtainable. 

I think you are making a good choice with Costa Rica.  I know several crypto-betting projects/companies that chose to set-up-shop there.  USA's anti-online betting laws are pretty random.  Result of having a few old geezers creating legislation for things they don't understand at all.

Indeed, we're giving a lot of importance to regulations and accounting.
We have a MBA from a major uni in America on the accounting front already and expense sheets are open to anyone looking to verify.
The reason why we held back on equity is because , if you really look at it , there are so few start-ups on the AE right now and anyone that truly values their business won't dilute much initially. Ofcourse there are other approaches to this, but that's my way of seeing things.   


In case you'd want to see our expense sheet, just hit me up via slack and I'd be glad to give you a breakdown and access to the excel sheets :)
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Freebieservers

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Re: Freebie E:sports
« Reply #23 on: July 04, 2015, 11:50:09 am »

Just a head's up, am looking to get the landing page for the project live today.
We'll be setting the timer for 45 days from when we hit 7.5k in funding.
Other markets have cited interest so I'll be listing this on non AE platforms too.
If a whale would like to buy over 100k assets, ping me as am doing discounts for bulk buyers.

Regards
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Freebieservers

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Re: Freebie E:sports
« Reply #24 on: July 05, 2015, 01:04:16 am »

Domain name registered.
Might pull out  a major chunk of assets from sale as we list on other markets.
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Freebieservers

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Re: Freebie E:sports
« Reply #25 on: July 10, 2015, 06:50:58 pm »

Hello folks ,


First off, sincere gratitude to the ones that brought the asset and pushed us so far. We'd raised approx 1.6k USD (higher under current nxt value) in the first week and things took a slump. Things took a hit once the markets began moving towards other trends (drachmae, Btc hike etc) and we were left in the dust for a while. Luckily, certain external projects FS has been involved with are realizing and they have brought us financial backing along with them. what this means for the project is that we'll be able to go from scratch to launch with a lower level of fund raising than earlier anticipated. Due to the same, I've cut down the assets on sale from 400,000 to 100,000, listed at the same price as above.

We'll post updates here (hopefully more later today) in the days to come and announce further asset releases as we move forward. Our prime focus is to have the product out by early August, adding to our cash in-flow.

As a business, FS remains commited towards its goal of strengthening its hold between the gaming industry and crypto-currencies and
adding value to the ecosystem, tackling one block at a time.

Regards
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Omega

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Re: Freebie E:sports
« Reply #26 on: August 15, 2015, 11:24:12 pm »

"Days to come" was quite a while ago.  What has been going one with FBS and FBE-sports?  An update would be appreciated.
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Freebieservers

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Re: Freebie E:sports
« Reply #27 on: August 16, 2015, 02:37:15 am »

"Days to come" was quite a while ago.  What has been going one with FBS and FBE-sports?  An update would be appreciated.

I have been posting updates in the supernet slack buddy. Do take a look at #freebiesrvrs whenever you can
We have the domain, logo,front end, most of the back-end ready,
Feel free to ping me on slack if you'd want updates on the project and want to go through things.
I have shied away from posting much updates here until work is done, however, I'll compile all that needs to be expressed by the end of the day and post them here.

We paid one of our devs in assets and he sold most of it to cover bills , hence the dip in price.
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Freebieservers

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Re: Freebie E:sports
« Reply #28 on: August 21, 2015, 05:37:37 am »

Sharing some logo designs we had a friend crowd source for us




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Freebieservers

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Re: Freebie E:sports
« Reply #29 on: August 21, 2015, 08:50:42 am »



And the first preview is finally here :)
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Freebieservers

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Re: Freebie E:sports
« Reply #30 on: August 25, 2015, 07:47:46 pm »

Am looking to get the last bit of assets out , before I can start with the swap options for fs asset holders  and inviting teams for our opening night match. Ping me if someone would like to take the whole lot at a discounted rate.
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PureVision

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Re: Freebie E:sports
« Reply #31 on: October 09, 2015, 06:14:23 pm »

How is this project progressing?
www.gamebet.gg is still showing a simple landingpage, nothing more.
What happened to your plan to have it up and running in August?
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Freebieservers

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Re: Freebie E:sports
« Reply #32 on: October 20, 2015, 04:14:21 am »

Hey,

Weird, I didn't see your post PureVision.
The reason why it didn't go live in August was primarily due to legalities.
We have (almost) partnered with an existing gambling house with the required licenses in exchange for a cut of our profit.
Product wise we have finished 70-75 percent of the work and intend to go live soon.
I'd pulled off the asset from the exchanges a long time back .
Put on a small batch back on live right now.
PM if someone would like to have a  preview.

Also, as stated earlier, we might be reaching out to some start-ups here to join us in our opening match and bets will be taken with nxt.

Regards
« Last Edit: October 20, 2015, 09:10:32 am by Freebieservers »
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Freebieservers

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Re: Freebie E:sports
« Reply #33 on: October 20, 2015, 09:09:42 am »

Hey guys,


Put on a 200k trench that is open to the public.
Hedge funds / community funds are allowed to buy in at a 10 percent discount.

 Information

 https://nxtforum.org/general-discussion/freebieservers-diversifying-into-e-sports-betting
 https://www.dropbox.com/s/vfp02mud3np625q/ExecutiveSummary.pdf?dl=0

Asset url : https://trade.secureae.com/#3396160410141965976

Current strategy :
Raise 500,000-700,000 Nxt more at 3.5 Nxt.
Post that, the assets would be utilized for swaps with the FS asset (for those that choose to do so)
Future issues will not be cheaper than 3.5 Nxt.

As our initial sales weren't as successful as we'd wanted them to be, we'd to put in a lot of money from external deals into this. The upside being, we'll be able to launch with a lot less funds than initially required. I know this has delayed for far too long. Legalities and personal issues kept this dragging. We're keen on launching this before December as the timing is ideal. 
« Last Edit: October 20, 2015, 09:14:15 am by Freebieservers »
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Freebieservers

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Re: Freebie E:sports
« Reply #34 on: January 08, 2016, 07:17:40 pm »

Happy to announce the MVP of the project has gone live.
Edits need to be made on the website in regards to the content itself, but we've begun pulling data in real time.
Work is going on the betting algorithm's we'll be utilizing as of now.
This addition helps us make our system more transactional in nature and hedge risks against being solely "free"mium.
I haven't sold much assets in regards to the project.
I might open markets depending on interest.

Ideally, we begin taking bets by the end of the month with the following currencies : BTC, BTS , NXT (maybe)  and Game-items.

Regards
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Freebieservers

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Re: Freebie E:sports
« Reply #35 on: January 20, 2016, 05:23:23 am »

The project just moved into private alpha.
We'll be testing the system with 100'ish users over the coming week and giving 100 USD to a winner.
Bets will be placed with temp place-holder currencies as we wait upon our registration work to be done.

Regards

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Freebieservers

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Re: Freebie E:sports
« Reply #36 on: January 28, 2016, 05:58:49 pm »


Extremely excited to inch closer to launch. We had 500+ bets during the beta period and will soon be opening access to Bitcoin deposits.
As of now the algorithms and api's are being worked upon. There will be a referral program giving incentive to individuals to promote us.
We are the world's first e-sports betting system working with both crypto and in-game items.
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Freebieservers

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Re: Freebie E:sports
« Reply #37 on: February 23, 2016, 09:07:05 am »

I am incredibly proud and excited to announce that we have opened the platform for deposits. Over the week, I'll be working with PR outlets on marketing the platform. I am grateful to everyone that has contributed towards the project. We'll be releasing project reports and dividends for this as it scales in the weeks to come. I have also pulled out all assets from sale in the AE as we are no longer raising funds for the project. Extremely excited to see this go live after 9 months of delays :)
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Freebieservers

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Re: Freebie E:sports
« Reply #38 on: February 27, 2016, 02:47:26 am »

Hey guys,

Just wanted to drop by and update everybody in regards to gamebet.gg
Over week one we registered close to 200 users and rampantly improvised the product. Initially, the deposit system was only Bitcoin and in-game items. However, now we support a wide range of currencies, including Nxt BTS. Given the speed of confirmation, users have large incentive to utilize alt's with faster confirmation times (nxt, bts) and due to the same we'll be promoting the two in coming weeks through our marketing outlets. We have not fully gone into marketing as we are currently making a minor change to the product in terms of the UI and will possibly have sports betting added over the coming week. So in case you are looking to begin betting on sports, post below as to what sport you'd like to see added.

Gamebet.gg utilizes the Bitshares network as one of the many alt's it has integrated into the system and thereby enables gamers to

i) Buy in-game items via the marketplace
ii) Bet upon E-sports matches in various tournaments

We are currently working out on our marketing strategy and  I could personally use some assistance in regards to the same. We are currently positioned to be one of the world's first systems to utilize cryptos in the context of E-sports and we intend to leverage the same towards garnering market share. We expect things to take at least two to three more weeks before we hit a "tipping" point. The product is now being optimized to cater to a large number of communities and  tokens.


Referral System


We have currently integrated a referral system that gives you 10 percent of the house income, no questions asked. If we find you to be a reliable source of traffic we are willing to further this up by ten to thirty percent. This gives individuals who have been currently involved with marketing Bitshares heavily a chance to come join us and earn a decent income. Unlike BTS - our transactional system does "charge' a lot more than the network does, so you do have a large incentive to promote the system. In addition, you can target people who possess Bitcoin / a gaming demographic and make a heavy ROI through marketing campaigns on social media platforms.


Press Releases

Am currently working on writing a standard press release for release on a variety of outlets over the coming week. In case you are in touch with journalists  - please do get in touch. I could really use your assistance in letting media outlets know about our existence and garner mainstream attention. In addition, if you are good at copywriting/a press release agency, I'd be glad to work with you on the product's announcements.

If there is any additional queries, please reach out to me via

1. E-mail - xypher@null.net, xypher@gamebet.gg
    Twitter-  twitter.com/gamebetgg


Tl:dr : Product out, perfecting it, preparing it for scale  - can use help with marketing.

Cross posting updates.
« Last Edit: February 27, 2016, 02:52:29 am by Freebieservers »
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bitme

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Re: Freebie E:sports
« Reply #39 on: April 03, 2016, 08:54:18 pm »

I bought some of E:sports assets in June last year
As i see gamebet.gg is raising funds through ico. Max 10% of profit is beeing offered there . Assets offered on AE (id 3396160410141965976) are not connected with ico but also give right to profit from gamebet.gg (each asset 5e-06%).

From my point of view it would be best to swap FSEsports assets to GBT.  I asked one of gamebet.gg dev to address this issue here.
« Last Edit: April 09, 2016, 08:08:33 am by bitme »
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