Currently, with the downtrend in cryptocurrency the best time to invest is now. Many people are afraid and become bearish, but the time to buy tokens is always during the dips. Obviously, this is a hard concept for the many as psychologically downtrends cause people to be weary of investing or backing projects.
To further my point, I believe the best time to invest in ICOs is during downtrends. The reason is because the cost of many of the payment options for ICOs (ETH, BTC, and LTC) are on a major correction from ATH's. I am of the belief that the overall market cap of crypto will end 2018 around $1.5 to $2 trillion.
So, when ETH reaches $500 or below, and an ICO is accepting this specific coin, then I think it is great value to purchase other tokens with promise. My two reasons are that I think ETH will be worth 10x $500 at the end of 2018 AND tokens with major marketcap potential like XPST can double or even 10x quickly.
This brings me to my point about PokerSports. When people first see the name they believe it is a poker token like Poker Stars, but the project is much larger and ambitious. They specialize in daily fantasy sports (DFS). The current market for DFS in the United States alone is $7.25billion in 2017. The market cap of buying XPST during the 50% bonus presale is only $12.5 million.
$12.5 MILLION compared to just the US market of $7.25 BILLION. You can get the token for a cost of $0.025. If the token gets released at $0.05 you double your investment, but why stop there? What would keep this coin from a 4x or 10x or dare I say 100x?
The ambition of the project is to move into a eSports and iGaming. They intend to use their platform to create 15-20 games and even competitive sports leagues (CFS) that will be streamed on Twitch. The market for gaming is enormous. Think of the potential money market cap for eSports alone?
This small team has somehow assembled a crazy advising all-star team and really looks to change DFS by jumping over to blockchain technology. I think it is a brilliant move that gives the industry a sense of transparent and feeless transactions. Individuals will have instant payouts and control their funds in a decentralized ecosystem.
So, I think there is nothing that stops this token from being a success and being an incredible opportunity for investors during this downtrend and presale bonus. The only question is how much will the investors make?
@mycryptoverse
PokerSports Website: https://goo.gl/V1A8jT
Bitcointalk ANN: https://goo.gl/7TmZsK
PokerSports Twitter: https://goo.gl/7s4fwX
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....
Awesome article! I am excited to check out XPST. I don't have a gaming token in my portfolio yet. Of course I have to do my own due diligence but after reading your article I should definitely learn more about this ICO. Thanks & Smiles
THanks for the heads up! Looks promising!!
Congratulations! This post has been awarded a 100% upvote by @sweepstake! This post was selected from among all recent posts as the winner of lottery #269, which had no valid entrants. You can win again by entering in @sweepstake's regular lottery! To nominate a post for the regular lottery, just send 0.1 SBD or STEEM to @sweepstake, and include the url of the post you would like to nominate as a memo. Good luck!
Hi @mycryptoverse! Thanks for your Steemit contribution.
My name is @hounddog and I am a bot that reads every post on this platform and connects similar content. I want to help people find publications that they like, so rewards are distributed fairly. Based on the content of your post, you and your readers may also be interested in these publications:
1: CryptoProphet goes PRO SMARC ICO!!! by @santana33 (79% match)
2: ICONIC ICO Review by @cryptokey (79% match)
3: DateCoin ICO Review by @dan90 (75% match)
If you want to know more about me or get some personalized recommendations, CHECK OUT MY NEWEST PUBLICATION!
Have a nice day and sincerely yours,
HoundDogThis post has received a 25.45 % upvote from @boomerang.
This post has received a 33.51 % upvote from @booster thanks to: @mycryptoverse.
You got a 8.22% upvote from @postpromoter courtesy of @mycryptoverse!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Congratulations @mycryptoverse, this post is the fifth most rewarded post (based on pending payouts) in the last 12 hours written by a User account holder (accounts that hold between 0.1 and 1.0 Mega Vests). The total number of posts by User account holders during this period was 3035 and the total pending payments to posts in this category was $5490.68. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.