My Altcoin Bag #1 - HeroCoin

Hey Steemians

Having recently gotten interested in the altcoin domain and investing in smaller altcoins and ICOs, I thought it would be interesting to give people a rundown of what I'm investing in and why in a series of posts. I'm not putting a ton of money into these, just some of my Steemit earnings, but the potential for return is good.

First up, HeroCoin

URL : https://www.herocoin.io/
Current Status : ICO
Current Rate = 1 ETH = 12500 PLAY tokens

HeroCoin is targeted at the online gambling and e-sports industry. They see a problem with this sector - fees are high, odds are stacked way in favour of the people running gambling/gaming sites and good players can be unfairly restricted when they win too much money.

Of course, there has to be a reason for these businesses to require a blockchain implementation and in this case it is trust. Having gambling on the blockchain eliminates the middlemen and reduces the chance of fraud, manipulation and corruption.

There appear to be 3 reward streams - if you hold tokens as an investor, you get more tokens out of a reward pool, if you are a player your obviously get your winnings and if you create games you get a reward for creating. I guess this takes the emphasis off the game creators taking a high percentage in the way of fees and also reduces the amount of stacking odds in their favour.

One other thing that struck me (and something I'm looking for in a lot of the coins I'm investing in) is that they already have a real-world product in herosphere.gg . As the ICO is backed by an existing functioning company they are also fully regulated and compliant which is a big bonus in this market.

The other thing I always look at is the team involved. This team looks great; there are some really talented people behind this who will want it to work out for them.

Purchasing coins in the ICO was dead easy. I have a MyEtherWallet, to which I sent the amount of Ether i wanted to spend. Then you register on their site, give them your wallet address and send the amount of Ether you want to invest to them. I got my PLAY coins pretty much instantly back into MyEtherWallet. This is different to a lot of ICOs that seem to want to hold your tokens until the ICO is complete. I guess it makes no difference, but it feels nice to see them in your wallet.

Another good measure of potential success is engagement levels. As we have seen with existing altcoins, quite often a lack of engagement will cause investors to get uneasy and move away from a coin (case in point, OKCash and OMG recently). However, HeroCoin has a good twitter output and Telegram/Slack chat room where you can interact with the team directly. Bloody marvellous.

I'm really confident that in the next year or two, this coin will go from strength to strength.

Please upvote and re-steem this post if you found it interesting or useful!!

Thanks guys

Mark