RE: The Reason PokerSports Will Be A 100X ICO
Tremendous article I've been involved with the business side of online & offline Poker Casino Industry, nfl, nma and nhl licemsing in the past and seen how NYS has treated Fantasy Football in getting it legalized before poker.
You've hit the nail on the head with PokerSports having a good short term future... But your prognostication of 100x without early adopters is questionable, because the gaming industry already has big players with marketshare.
In addition the reason eth is correcting down is because there are other currencies out there serving as contracts and superseding it, and now that its blockchain is about to be the same speed as bitcoin it will not be going to 5000 by end of year. Especially because the bankruptcy liquidation mt. gox is still $1.9billion in bitcoin and etherum.
take a look at my trading story article from today...
Great News today, The rollercoaster in cryptocurrency markets continues!
I understand that there would be other factors at play to cause valuation differences, but I do not see an overall market share of $1.25billion out of the question for the company (100x). I think DFS on the blockchain is the first big step, then adding games like cricket, soccer, and eSports... I feel like if they are able to execute, then there should be zero reason for them to 100x from ICO price. Not to mention crypto should grow, too.
The problem is your getting into established markets, end users do not care about technology, only about capabilities and competition.
They are also offering a completely new game, which has to get adoption...
Note I did not see any casino owners, gaming site owners, pros in the fantasy football and baseball fields on the advisory boards....Those are big red flags...
A former mid level NFL player, and gamer are window dressing for an ico!
I've seen companies like JaoPoker and 100s of others go out in this space. Who were funded with 20 million in private equity by people who had been in the space.
They don't even have a tournament director on the advisory board or staff!
And the they trying to put a round peg in a square hole. Serious poker players don't play fantasy sports and serious fantasy sports players don't play poker.. They require different skill sets and time requirements.
2 completely vastly different types of people of and experiences they are looking for.
This is a bad idea promoted by people who think the block chain is a solution to something thats is broken that is not, or at least not fixed by using cryptocurrency to start something new!
You just see the size of the the gambling market and assume you should be able to get into it.
of the 1.25 billion, over half are mom and pop games. 600 million is not a big market at all, Not when our raising 20 million to get your 100x you need the total market cap of the tokens to be 2 billion!
That's 3 times the market as it exists right now...This is not a solution that's going to do that. With Steve Win, Sheldn Ackinson and the Coche Brothers, the NFL andMLB owners out there....
The best you will get is a pump and dump on the ico... and then again on the introduction of the beta.... then it will be an either quick or slow fade to black....