Hello Cryptofriends,
This is Satish from India.
Today I would like to tell you about significance of ICO and a newly disruptive startup in Online Lottery industry Trueflip.
Introduction to ICO
At present we are seeing so many companies are raising capital in millions of dollars within hours or sometimes even in minutes from Initial Coin Offering called as ICO's. It is becoming a disruptive mechanism to raise funds from the crowd in global level by siding Venture Capitalists, Banks. It is a Win-win situation for both companies and crowd because through this the crowd is getting opportunity to invest in future billionaire companies and at the same time companies are able to raise funds as expected by releasing "Minimum Viable Product" (MVP) of product in market.
Introduction to Online Lottary Industry
Digital lottery is the future of Lottary Industry .Due to its exponential benefits offering through internet like by cutting costs of middleman and transferring the benefits to customers and immediate purchase of tickets and releasing results of Jackpot. Once digital savvy generation reaches maturity then online lottery will become mainstream in Lottery Industry.
At present as per research revealed by H2 Gambling Capital offline gambling generates higher revenue of 359.3 billion dollars compared to online gambling is only consists of 44 billion dollars in 2016. And when I observed statistics inside of offline gambling the major share contributes from casino and then second is Lottary but in online gambling around 49% income occupied by Betting and casino is in second place then Lottary occupied in the third place with a 9% share of entire online gambling revenue. It is looking promising that online gambling has a huge market to occupy.
As of now the Lottaries are banned in some of the countries but still it is conducting by some of the countries and state governments.
Key factors for success in Online Lottery
The User experience is of paramount importance in driving sales.
Strategic Plans and multi channel approach, compaigns for acquiring new custorms or target audience into the platform.
The size of Jackpot has a huge impact on the success of marketing.
If the Jackpot is not high enough no matter what strategy adopts that will be failed in terms of attracting customers.Instant Payouts and wins is important because the participants tries to see the results immediately or within small period of time, and this will encourage the audience to participate in the game.
The last and foremost the player retention is very important. In fact it's waste of hard work and acquisition efforts entirely if the customers aren't sticking around. This can be done by analysing customer behaviour and offering loyalty programms.
The Problems in Online Lottary industry
Due to centralisation of data in online Lottary companies the data may be leaked by management to others or governments or it may be hacked by hackers.
The manipulation of results in Lottary wins.
To overcome all above difficulties by converting into opportunities True flip is coming into Online Lottery industry. Its main strategy is to strengthen the weakness in industry by creating opportunities.
True flip is a innovative online Lottery startup. It combines both cryptocurrencies and cutting edge blockchain technology for immutable decentralised ledger recording to be transparant and removing centralisation.
As of now most of lottaries are held by centralised authorities like companies or governments.But this will be changing in near future due to significant rise in cryptocurrency usage which is not owned any central authorities like governments or Banks.
And most of the new startups will start to adopt the cryptocurrencies like Bitcoin, Ethereum as means of payment and it will become mainstream.
Trueflip is a boarder less, neither any a single authority nor their owns control. It is a community based and in that decisions will be taken by community.
At present it already developed a beta version and now it's running for conducting lottaries like Powerball. Which is very famous in world. This game is guessing 5 numbers from 1 to 75 but Trueflip is offering to select 5 numbers from 1 to 49 and this will increase the probability of chance of winning 130% higher than other Companies. And the draw process will happen through the Bitcoin blockchain and there will no chance to manipulate the results.This is a positive move to attract lot of participants to the platform.
The Distribution of Prize fund
In addition to this Trueflip wants to introduce 3 additional lottery games in near future which are already in development.
Trueflip want become a biggest platform internationally to offer services to government and other companies for helping to conduct lottaries.
The Key advantages offering by Trueflip
Any person from anywhere in the world can sign in the platform without providing his private details.
Draw takes place through Bitcoin blockchain.
Instant Payouts which I was already mentioned above for key success in online Lottery.
Immutable decentralised ledger recording which can be viewed by public. This is all happening due to smart contracts offered by Ethereum.
Now Trueflip wants to introduce a new token into the platform called TFL for crowdfunding through ICO to create a Big Jackpot and for operational, marketing development.
The TFL holders will get 10% to 15% of total tickets sold every day and these dividends will be distributed 4 times in a year. Apart from this TFL holders get a right to take decisions through voting within the platform for development, marketing strategies.
And this all process happens automatically with the help of smart contracts which can be created in "Ethereum Virtual Machine" in Ethereum.
As per forecast made by Trueflip, If Trueflip able to capture the market of 0.4% to 1.1% of "global online Lotteries", which corresponds a daily turnover within the platform is 15 BTC to 50 BTC which will carries the payout of 5.2% to 26.81% in BTC.
Furthermore analysis presented below,
The team also consists of well experienced from Blockchain Industry and other industries internationally with more than 12 years experience.
The Crowdsale Details
The Crowdsale is already started and it will be end within 15 days or desired fund has been reached.
TFL token price : 0.0005 BTC
Token sale goal : 6125 BTC
The bonus structure as mentioned below,
To contribute in crowdsale visit https://ico.trueflip.io
To know more about Trueflip download white paper from https://ico.trueflip.io
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile
Bitcointalk profile name : Satish147
This is one true gem. They have a working platform that is in beta. 10-15% dividends paid out to token holders. One true diamond in the rough. This one ICO will fly under the radar that's for sure.
Very informative! Thank you