Many ERC20 tokens have promising use cases. Some hope to decentralize financial risk, governmental risk, some even help to improve the distribution of critical resources like food.
On the other hand, you have tokens like First Blood. (Disclosure: I say this as an owner, so hodlers, put away those pitch forks!)
The FirstBlood token currently has a single use case - you can wager it on games of DOTA (2?), also known as Defense of the Ancients. If gaming is not your genre, suffice it to say it is a widly popular and genre-defining game with one of the highest active player counts in the world and a surprising amount of money sloshing around in its RMT (real-money transactions) system.
The bad news is this is the only use case for the token at the moment. Also, and I am a bit unclear on this, you may only be able to wager on yourself/your own games (or at least, that appears to be the primary intended use case, with a slogan strongly implying such.) New games, such as FIFA and Player Unknown Battlegrounds are intended to be added later.
Now, I may not have painted a glowing picture on fundamental use-case, but I think an argument can definitely be made for a buy on technicals. If you take a look at the following chart, you'll see that the 1ST price (in Bitcoin) has only been lower once since the intiail post-ICO ramp:
If First Blood pulls a "Bitshares" and shoots up after the dust settles from the de-listing, it could be a good buy. Further, addition of PUBG would be a large advantage as this is one of the most popular games by user count on Steam currently.
On top of the technical picture above, First Blood was recently suddenly de-listed at Bittrex. As usual with most currencies, this lead to an immediate drop in price as some speculative holders decided to simply sell out at market. However, this does present a possible buying opportunity for the intrepid investors who is willing to accept some risk.
Disclosure: I currently hold 1ST, but am not selling at current price. This is not financial advice and I am not advising to purchase 1ST.
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Sources: Google, Reddit, CoinMarketCap, cdn.europosters.eu
Copyright: FirstBlood.io, CoinmarketCap, First Blood
I bought 1st soon after the ICO to diversify my crypto holdings away from simply medium of exchanges (like bitcoin). I was so excited to be a holder of a token which has the potential to revolutionize gaming. I have not sold any but have also stopped following their progress as the token price has not kept up with the hype.
Hopefully the team gets their act together and gets moving on their goals or another option will come and eat their lunch. First mover advantage means a lot in technology.
DOTA2 is a fun game, although I do not play enough to be competitive, I will probably not wager on games. I am interested in earning 1st token by running nodes. Is the system still on test net? If not do you have a guide on how to establish a node, system requirements and how to be paid 1st for those services?
Thanks.
At the start I bought firstblood. But seeing how low improvements they made I doubt the motivation of this team. This is why I sold it when it at mid high.
I was really surprised at their slow progress as they are already 1 and a half year in the crypto space.
great your post
I don't know, Dota2 was not so popular right now, I mean it still had a lot of players, but not so much as LoL and a lot of them are not eve willing to pay anything for the game so I really don't know. I mean it could go up, but I won't be tempted to buy.
I usually make the worse decisions so actually it may be a good investment :))
Hey @lexiconical,
I was playing Dota a long time ago and wanted to know if there are actually some users of this game who are currently using this platform / cryptocurrency?
If you are interested in betting you can probably check out Augur if you haven't done it already. They are trying to make a general, decentralised platform for placing bets on everything possible as far as I know. :)
Nobody in Dota uses the first blood platform
This is some next level sports betting stuff right here, why not use them or similar to bet on sports games? Seems like the market could be huge for wagering assets
Hello @lexiconical
Please do not copy paste your content.
I navigated to a similar article here:
Is this your original post?
Are you serious??? This is SPAM and PHISHING!!!!
I have reported this to @steemcleaners, but I don't know if it's enough...