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Freebieservers Diversifying Into E-sports Betting singapore
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Author Topic: Freebieservers Diversifying Into E-sports Betting  (Read 5744 times)

Freebieservers

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Freebieservers Diversifying Into E-sports Betting
« on: June 19, 2015, 07:50:23 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.
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JanSako

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #1 on: June 19, 2015, 08:05:24 pm »

I hope you go with NXT, will be dipping my toes into this if you do.

Well written business plan, like the clear timeline and goals.

Hope you can figure it out from the legal side.

Good luck!
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Freebieservers

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #2 on: June 19, 2015, 08:08:29 pm »

I hope you go with NXT, will be dipping my toes into this if you do.

Well written business plan, like the clear timeline and goals.

Hope you can figure it out from the legal side.

Good luck!

Hey there ,

We've had a steady record of delivering on deadlines, so am sure we can deliver within the time frame mentioned.
I have a member working full time on the regulations, we'll share docs as time comes.
Appreciate the interest.



Regards. 
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alxx77

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #3 on: June 19, 2015, 10:03:43 pm »

Nice to see new projects on the road...!

Choose NXT, of course  :D

I believe that there is a lot of potential in something like this.. I hope you will manage to deliver on this..!
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Freebieservers

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #4 on: June 20, 2015, 05:53:41 am »

Nice to see new projects on the road...!

Choose NXT, of course  :D

I believe that there is a lot of potential in something like this.. I hope you will manage to deliver on this..!

If we register sufficient interest, I'll put on a fund raiser via the AE.
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bitme

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #5 on: June 20, 2015, 09:24:53 am »

Great plan with huge potential.
I would be glad to invest significant amount if NXT is chosen.
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TallSmile

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #6 on: June 20, 2015, 10:07:30 am »

Great idea. If someone would create escrow less trading platform for steam items in addition to this we could rule in a lot of players into NXT ecosystem and make them stay here.
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rtrtcrypto

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #7 on: June 20, 2015, 10:14:48 am »

Would invest!

NXT plz.
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Freebieservers

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #8 on: June 20, 2015, 10:47:36 am »

Great idea. If someone would create escrow less trading platform for steam items in addition to this we could rule in a lot of players into NXT ecosystem and make them stay here.


We are onto this already.
I'd bounced this concept in SN a lot of times, saw no interest so kept it in the corner for a while.
We' had an external backer come over lately and this has been in the works.
I'll reveal more information regarding this in around 48-72 hours. 
Didn't know people would be interested.
Guess I shouldn't have kept a lot of this "under wraps" for so long.

Really nice to see the interest and love folks.
Much appreciated.

Feel free to PM me for any personal queries.
Been responding to a few since morning.
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Nxtblg

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #9 on: June 20, 2015, 02:53:47 pm »

What effect, if any, would there be on the future dividends of the Freebsrvrs Asset? Is this an independent project? If so, then what's the fate of Freebsrvrs? Thanks.
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Cassius

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #10 on: June 20, 2015, 03:15:37 pm »

^^^ I think this is something worth clarifying.
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Isildur23

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #11 on: June 21, 2015, 02:51:25 am »

So, you will make something like the so called "fantasy sports"? As far as I know the biggest pools for such games are in US and you can't play there if you are not from US. So you will make it with crypto and the registration wouldn't require personal info? Just as Sealswithclubs did for poker?
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whalepanda

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #12 on: June 21, 2015, 07:30:29 am »

So, you will make something like the so called "fantasy sports"? As far as I know the biggest pools for such games are in US and you can't play there if you are not from US. So you will make it with crypto and the registration wouldn't require personal info? Just as Sealswithclubs did for poker?

Biggest market for e-sports is definitely Asia. South Korea is crazy about it, their best players are treated as rock stars.
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rtrtcrypto

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #13 on: June 21, 2015, 08:13:43 am »

How hard would it be to expand this platform for bets on sports like soccer, nba, nfl, etc?

That is billions a year large.
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Freebieservers

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #14 on: June 22, 2015, 01:47:17 pm »

^^^ I think this is something worth clarifying.

As mentioned in the thread, no FS won't be dying.
I am already in talks with a few parties for expansion of the core business : ad deliveries  and finding more amazing people to join in.
As stated in the thread, this will only improve the business further. By creating an ecosystem where FS is the marketing front for other projects, we insulate FS from external ad deal requirements. That's what am shooting for. 

The new projects will be separately registered entities (legal reasons), but marketing funds from the projects will flow into FS, thereby increasing revenue.

So, you will make something like the so called "fantasy sports"? As far as I know the biggest pools for such games are in US and you can't play there if you are not from US. So you will make it with crypto and the registration wouldn't require personal info? Just as Sealswithclubs did for poker?




How hard would it be to expand this platform for bets on sports like soccer, nba, nfl, etc?

That is billions a year large.


From a code perspective ? Not impossible.
Rather easy. That said, its not our core market and I wouldn't want to spread too thin.
If there is someone from the forum (SN maybe ? ) interested in raising an asset and making the platform work for irl sports and manage and promote the project, I'd be happy to make it happen, provided it aligns with my team's commercial interests.
« Last Edit: June 22, 2015, 02:08:09 pm by Freebieservers »
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Omega

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #15 on: June 22, 2015, 04:36:41 pm »

@ Freebieservers

So from what I gather from the first post and your follow-up:

This is an individual project (even its own legal entity as you say).  Its revenue is separate from FBS and that is why you plan to raise more funds (hope you pick NXT; I love e-sports and would def support this) to get it off the ground.

This is related to FBS because this project (and future ones?) will be using FBS services.  So this new entity will be a user of FBS and thus pay it for services rendered.  As this project becomes successful, we should see revenue from FBS improve as more services become needed?  In a sense while the two are different, the success of either are linked?  Please correct me if I am wrong. : )

In an unrelated question, you say that you don't plan to raise funds by selling "equity" which I understand, but the question then becomes: what will your backers be getting?  Are these profit/revenue sharing tokens?  Perhaps a bond-type asset? 
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Freebieservers

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #16 on: June 22, 2015, 04:55:19 pm »

Good thinking.
Yes, they are seperate but they share success in a lot of manners.
In addition to e-sports ,there's one more project we'll be disclosing soon. Dabbling with the IP Rights aspect of it before I make a formal announcement. Together, they'll be creating an entire independent ecosystem and we believe, it should help us be the fore-runners in gaming and crypto.

Good question :

This is something I've been internally debating for a while.
The reason why we're avoiding equity is because we'll be undervalued by a large amount if we take the equity route.
Added to that is the risks involved, which may or may not cause issues for potential investors.
We are raising a very small figure (in comparison with most projects here) to deliver the MVP post which we could validate ourselves and then take things further (one step at a time) .

We've had a few individuals willing to back the development of the project completely, but I think its important we get the communities also involved. One thing that I felt is right to do, is to have the communities have a crowd-fund for the backing of the project, in exchange of which they have their coins integrated into the system. This isn't  a common model currently, because there are so few businesses that add incremental value to the ecosystem or dabble in entirely new sectors ( ie :exchanges, trade bots, etc being too common). But at the same time, this makes me wonder, how is it fair for those  that partake in the crowdfund .As a technology, the entire coin's ecosystem benefits, and so it wouldn't be fair on the select few that back the project. Which makes me wonder if the equity option should be considered or if there's some other way we could incentivize backers. Currently, this is something am dabbling over. I'll push a proposal post consideration with the team later today.
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Nxtblg

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #17 on: June 23, 2015, 07:23:42 pm »

One thing that I felt is right to do, is to have the communities have a crowd-fund for the backing of the project, in exchange of which they have their coins integrated into the system.

Which system are you referring to? The crowdsale system or the betting system?
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Freebieservers

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #18 on: June 24, 2015, 07:53:43 pm »

One thing that I felt is right to do, is to have the communities have a crowd-fund for the backing of the project, in exchange of which they have their coins integrated into the system.

Which system are you referring to? The crowdsale system or the betting system?

Crowdsale due in another 10 ten mins.
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PureVision

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Re: Freebieservers Diversifying Into E-sports Betting
« Reply #19 on: June 25, 2015, 08:05:12 am »

What currency will be used for the bettingsite?
Single currency or multiple currencies?
Is it going to be USD, BTC, NXT, ...?
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