Have you heard about GIFcoin? Not yet? Well it is a high time to have a closer look on this project.
GIFcoin website
If you are reading this post, very likely you have at least some idea about crypto currencies. If not, well it is way too complicated to explain this issue here. There are dozens of forums and articles, where eggheads and just average people tries to figure out the phenomenon of Bitcoin, Ethereum, Ripple and other currencies, which prices are day by day closer to the moon (despite of time when they are falling like shot airplane like last couple weeks). So if you want to fulfill gap of your knowledge, check more specialized sites like bitcointalk.com and etc. Just please put the great attention on key words like: ‘ICO’, ‘Bounty’, ‘KYC’ and of course main slogan which attract millions of people to crypto currencies ‘rocket to the moon’. If you already did your homework, I can explain you the reason why I am writing this post.
ICO market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites.
So did I and during my research I found the project in which I really put my faith: GIFcoin. Very likely you haven’t heard about them, project is made by a small team from Bulgaria, with no great names in. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analyze (including also their weaker sides) and decide on your own, do you want to send some pennies to the potJ. The analyze I will present consists of 13 parts, and each of them shows this project from different angle. I will judge the website, project, team, hype, whitepaper, token distribution and many more. So, let’s go!
ABOUT THE GIFCOIN PROJECT AND BETTING MARKET
The idea of GIFCoin is to support an investment in gambling. I think there is no need to explain why gambling and block chain is just a perfect match. One of the reason is a privacy, it is much easier to keep you identity hidden with block chain and of course you can forget about taxes. Beside it is an attractive field to invest: online gambling seems to have a blooming time, the same as a crypto currency market. Here are some statistics about expected, estimated gambling market development (contribution to GIFcoin whitepaper: https://www.gifcoin.io/GIFcoin-Litepaper.pdf).
Expected grow of whole global gambling market is 17,5 % counting from 2015 to 2020. This number is pretty optimistic, but counting that since last 3 years market is growing around 3% annually, such a number is possible. If we will focus just on global betting market, situation looks even better (actually it is a second largest segment of the world gambling market). According to GIFCoin data, market supposes to be for 23,4% bigger then it was in 2015, and it’s share will increase from 44,5 % to 45%.
Very similar data I found in a different statistic on statista.com, this time about online betting market in general. ‘In 2015, the online gambling market had a volume of 37.91 billion U.S. dollars, this figure was forecasted to increase to 59.79 billion U.S. dollars in 2020’. Counting a forecasted sport betting share of 45%, these numbers are pretty similar (in this case 26,9 mln.).
So very likely, with this economic development we can expect that share of crypto currency on the betting market will just grow and some other betting companies will involve crypto-currency payment, if not lunch their own ICO.
VITALBET
Print Screen of the VitalBet website
I wrote before that GIFCoin idea is to support investments in gambling. How to make it? Via already existing platform they poses: VITALBET. Below you can see the print screen from this website.
And here a picture from GIFcoin website with services they offer:
VITALBET was launched in 01.2015 (in beta version, and half a year later the normal one) and since that date is developing. By the moment whitepaper was released, they had slightly more than 20 000 active users. Nevertheless it is not the first project GIFCoin made. Before they worked as a company specialized in affiliate marketing. At the beginning they were offering betting and casino catalogues, later on they decided to make own betting platform.
I never had fun in betting, so as follows, I have no experience on this field, and for me it is very difficult to judge the level of service they offer. According to their words: ‘VitalBet is fully operational and regulated gambling website with all popular industry features, such as sports betting, casino, live casino, IN-play betting, eSports, and virtual sports.’
In 2017 year their website started to offer another service — payment with crypto currencies. By now, gamblers can make their betting in BitCoins. With founds collected during ICO, VitalBet wants to add payments in different crypto currencies like Ethereum, Litecoin, Dash and Ripple.
Below you can see some selected VitalBet data.
Actual company revenue is 7 368 602 USD with Net Income: 3 315 871 USD and 20 453 active users. Calculated loss per customer is high: 360.27 USD. The last data shows conversion between visitor-to-customer for about 15,4%. Number they wants to achieve during the preICO and ICO is 24 mln. (hardcap) what is about 3 times higher than actual revenue, in exchange of shared annual income (GIF token holders will receive 80% of VitalBet’s annual profits once a year). More detailed description of this scheme you can find in next parts of this review.
WEBSITE
In comparison to some other ICO project websites GIFcoin page looks rather modest, it doesn’t have much catchy graphics but contains all needed information. The team made even three videos with project explanation, team introduction and CEO interview. Despite GIFCOIN website you can find the same video on their youtube channel.
GIFcoin
Edit description
www.youtube.com
Coming back to the website; on the front bar you can find categories like: ‘overview’, ‘how it works’, ‘project’, ‘token’, ‘roadmap’, ‘team’, ’FAQ’, you can login to your personal profile, and switch the language. Available to pick up are: English, Russian, Chinese, German, Korean, Japan, Indonesian, Spanish, Hindi, French, Italian, Portuguese, Arabic and Vietnamese. For me, the number of available languages is more than sufficient.
WHITEPAPER
In general whitepaper made by the GIFcoin team answered all questions I had and I could have. It is well made, with a illustrative graphic, and clear structure. I also really like a shorter version of this project called “Litecoin” with project description on just 3 pages.
GIFCOIN TOKEN
GIFtoken is a currency based on ETH20 protocol (to check) with a total 300 000 000 tokens supplied. After the purchase, tokens will be immediately sent to your ETH Wallet. Actual price for coins is 10 000 GIF for 1 ETH. Update from 25.02.18–1 ETH=13 000 GIF.
Minimum purchase is 0.01ETH and there is not limit for maximum. What does it mean? There is a chance that big players will buy a great share of available tokens. So if you also want to eat a cake, better hurry up!.
DISTRIBUTION AND TOKEN USAGE
As I wrote before, there will be just 300.000.000 tokens generated. 26 000 000 will be conduct to pre ICO (all together 9%) and 240 000 000 (80%) on ICO. Founders will received 24 000 000 (8%) tokens, another 10 000 000 goes to the PR, bounty and advisors (3%).
These numbers (just 9% for founders) shows more or less, that the team is keen to receive money on project development, and most likely will not run away to Maldives with pockets full of cashJ. All together, 89% of tokens will be sold during ICO and PreICO. Unsold one will be burned.
If we talk about the expected founds distribution (counting pretty high hard cap — 24 000 000 USD), 1 000 000 USD will be used for platform update and creating a mobile application. 16 000 000 USD will be used for marketing and advertisement campaign (66,7%) . 5 000 000 USD will support already existing bank (20,8%) and 2 000 000 USD will serve as a legal agreements in different countries (8,3%).
Of course if hard cap will not be reached, these numbers might looks like totally different. But to be honest, I do not believe in such a scenario. With no purchase limit, with a good PR and marketing campaign tokens will be sold in ICO first stages, if not even during the preICO. Soft cap for this project is 3 mln. USD
What I like here is the high percent of an income planned for a marketing and adds. On the other hand I do not like, a high number which goes to the bank, but can understand reasons why is so.
ROADMAP AND DEVELOPMENT PERSPECTIVE:
Above you can see the roadmap — how the team sees their nearest and long-term future in accordance to their past experience.
VitalBet website as I wrote already, was launched at the beginning of 2015 in a beta version and in the middle of 2015 as a‘ready-made’ one. Website for ICO was ready at the beginning of January 2018. A month later PreICO started, and in March ICO will start. Being precise ICO will start on 16th of March and preICO goes from 22nd. of February.
The same month (March), ICO campaign will be finished. Later on expansion of the team is expected, what will result in to the VitalBet website modernization (04.2018) and releasing a mobile application for Android and iOS (a month later). In May 2018 company wants to update and develop VitalBet’s affiliate program and add another crypto currencies a month later.
The same time, the marketing campaign will begin and in July 2018 as VitalBet wants to expand on another markets. Already in December 2018 platform plans to reach 1 000 000 users and share an annual income with token holders. What is the most important VitalBet promised to share 80% of their annual income with token holders.
What I found interesting about their further plans is the expansion on another markets. Number of countries will depend on the general number of founds they will collect. Nevertheless a minimum plan is VitalBet expansion into three countries (Czech Republic, Ireland and Norway) with the biggest online betting potential. The listed countries below allow legal, online, non-monopolized betting, and comprise approximately 65% of the global online betting market.
First expansion countries.
Beside these three counties, guys wants to increase their fluency on another countries like: Denmark, Canada, Greece, Spain, Italy, Germany, Sweden, France, Russia, USA, United Kingdom, Japan.
POSSIBLE PROFITS:
On the website you can see the profit share animation. If website will reach 1 250 000 active users, net income will be equal 202.50 mln. $, which means 0.54$ profit per token. For today VITALBET has 20 000 active users.
With the minimum plan, GIFcoin team promises 0,39 $ profit per token (with 900k. active users and total profit $324 m.). Actual price for a token is 1 ETH= 10 000 GIFcoins.
In the most optimistic version — with 2 100 000 active users, profit to share will be: $756m with profit per token 0,91$. GiFcoin in very similar on this case to the bank locate: smaller income procent for less risk.
TEAM
Team seems to be the weakest part of this project — no offence guys:) It consists just from couple experts with no advisers. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field (since last couple years they successfully run VitalBet company). I don’t like the way they presented themselves. As well as picking up couple known in a crypto world names could significantly increase their popularity.
WHY INVEST?
80% of VITALBET’s annual profit will be shared with all GIF token holders once a year.
I really like the idea to make pictures with a company name (and existing project VITALBET to link it with the ICO project). And I do appreciate they tried to look smart with the same sport polo shirt. Idea was great, realization limped. If I would judge the project just basing on the team photo, I wouldn’t risk even a broken penny. These guys on pictures doesn’t really gain trust. Maybe the light, stylization or slightly better position or photography technique would help them to save a face.
Nevertheless, what I really appreciate about the team, is to consist of quick learners. Couple weeks ago I read an opinion about GIFCoin team that it’s a pity the guys don’t have profiles on Linked In. Couple days had passed and I was really, nicely surprised loading Gifcoin website. Each team member has own profile on Linked In. That is a very good sign for a project. If they are able to fix their mistakes so quickly, they have just “sunny days” ahead.
HYPE
We live in times where no hype simply means no success. It is especially a touchy topic in a crypto currency market’s context. How does this motto works in case of GIFcoin project?
Definitely not bad, especially after the airdrop they made. For today (25.02) number of Twitter followers is 1687.
Project attracted also 3254 telegram users and 5490 facebook fans. It is neither the worst result, nor the most impressive. I have been following groups reaching 20 000 telegram fans in couple weeks. Now, when even birds speak about kind of crises in crypto currency market, efforts new projects make, supposed to be twice, three time higher. Even for a prosperity time this is not a sufficient number.
Spreading the word is a key for ICO success. If GIFcoin wants to achieve even a soft cap, they supposed to consider their marketing strategy. Easy airdrop program could help not only with raising the numbers but also would help to gain gamblers with very low costs.
Nevertheless, again I am really impressed how quick are learners from GIFcoin. Couple days ago they launched a referral program. Since preICO begin just 176 ETH were sold. Let’s hope the referral program it will help in further project development.
Besides not a great project visuality I cannot mention a couple precious reviews the project received. ICO bench experts judged this project just for 3,2 (mainly because of KYC complains) but Wiser ICO gave GIFcoin 4,4 from 5 stars and Track ICO 4,3 stars.
It would be unfair from my side if I would not include bounty into the “hype” description. And GIFcoin bounty is really a game worth to play. Award pool is worth 1 000 000 USD — 10 000 000 GIF tokens, shared between 6 types of bounty.
Translation Bounty: 10% — 1,000,000 GIF(~ 100,000 USD)
Signature Bounty: 40% — 4,000,000 GIF(~ 400,000 USD)
Content & Media (Blogs / News / Video) Bounty: 20% — 2,000,000 GIF(~ 200,000 USD)
Facebook Bounty: 10% — 825,000 GIF (~ 100,000 USD)
Twitter Bounty: 10% — 825,000 GIF (~ 100,000 USD)
Telegram Bounty: 10% — 1,000,000 GIF(~ 100,000 USD)
TRANSLATION BOUNTY
Thanks to the translation bounty, GIFcoin website, whitepaper an Ann thread was translated into 26 languages (all together). For this day 25.02.18 almost all from translations are either already made or being translated now. The only language left is a traditional Chinese.
SIGNATURE CAMPAIGN
Signature bounty is made for bitcointalk members ranked from jr member to hero and legendary.
Payments Will Be Based on Weekly Stakes:
Jr Member: 20 Stakes/Week (~120$)
Member: 30 Stakes/Week (~180$)
Full Member: 60 Stakes/Week (~360$)
Sr Member: 100 Stakes/Week (~600$)
Hero and Legendary: 160 Stakes/Week (~960 $)
Full Member and Up Will Be Rewarded with 5 Additional Stakes for Wearing an Avatar
Bitcointalk users whose rank is Full Member, Senior Member, Hero Member, and Legendary Member can earn additional 0.5 stakes for wearing a personal text.
Personal text: Gambling Investment Fund
Additionally, 1 000 000 coins taken from Media & Video supports signature campaign, as GIFcoin team wrote, due to the great interest.
CONTENT AND MEDIA CAMPAIGN
Preferable languages are English, Russian, Spanish, German, Italian, and Turkish.
Articles
Big article with unique content and length of 20,000 characters or more — 10,000 GIF [1,000$]
Medium-sized article with unique content and length of 10,000–20,000 characters — 6,000 GIF [600$]
Small article with unique content and length of 5,000–10,000 characters — 3,000 GIF [300$]
Repost of an article on your blog — 400 GIF [40$]
Rewards here are really impressive and of course number of character to write as well.
Videos (YouTube etc.)
100–500 subscribers — 2,000 GIF[200$]
500–1000 subscribers — 4,000 GIF [400$]
1000–3000 subscribers — 6,000 GIF [600$]
3000 — ∞ subscribers — 10,000 GIF [1000$] — negotiable
8 000 — ∞ subscribers — 20,000 GIF [2000$] — negotiable
15 000 — ∞ subscribers — 60,000 GIF [6000$] — negotiable
Videos with the most views will get extra reward. Videos with computer generated audio are not accepted! Limit: 400 users!
Good quality posts about the GIFcoin ICO project in crypto related subreddits + link to our website — gifcoin.io or ANN thread — 300 GIF[30$]
Good quality comments about GIFcoin ICO project in crypto related subreddits + link to our website — gifcoin.io or ANN thread — 100 GIF[10$]
Any other Reddit activity — negotiable
Obviously low quality articles or videos will not be accepted.
FACEBOOK BOUNTY CAMPAIGN:
Bounty is calculated with stakes on a weekly basis: Each participant gets 8 stakes per week if he/she has completed the following:
You must follow GIFcoin’s Official Facebook Page: GIFcoin Facebook
You must like and share every post published by GIFcoin, using the hashtags #GIF / #gifcoin / #gifcoin_io / #gifcoinico |
Participant’s Facebook profile must be set to PUBLIC.
Your Facebook account must have at least 300 REAL friends.
All posts must be in English
TWITTER CAMPAIGN:
Bounty:
200–2,000 followers: 14 stakes
2,000–5,000 followers: 28 stakes
5,000–10,000 followers: 56 stakes
More than 10,000 followers: 70 stakes
Bounty is 2 stakes (~12$) per week for every participant who complies with these very simple rules:
TELEGRAM CAMPAIGN:
Join Telegram: GIFcoin Community
Every active participant in our channel will get 2 stake (~12$) per week .
You have to write atleast 1 constructive question/reply about the project once a week
2k Members Limit
Very likely this bounty thread is already completed (GIFcoin telegram has more than 5k members).
More information and detailed rules you can find on bitcointalk thread: https://bitcointalk.org/index.php?topic=2821146.0
PROJECT PROS AND CONS.
Now is the time to collect all the information I wrote before and draw conclusions. So, below you can find main pluses and minuses of GIFcoin project.
Pluses:
GIFcoin was backed by already existing company — VitalBet. It is much less risky to invest in a company with some revenue than in a start up. Just to remind you, VitalBet has 20 000 active users and revenue worth 7 mln USD. As for a company existing on a market for less than 3 years it’s pretty impressive.
Experienced team, working together since years. What I do really appreciate is the speed guys learn and modify own strategy. Flexibility in campaigns is always a good sign.
Perspective market — I can imagine that incorporating crypto to the gambling market will be fruitful for both sides. Sport betting is not an exception at this point.
Profit share — 80% of an company income supposed to be shared with token holders annually.
In this scheme you can see main project pluses and promises.
Minuses:
Team — it is not a mistake, I have put a team into two different categories (pluses and minuses). I did not like how team was presented. They do not have any advisors — which is especially risky with a first ICO experience.
Small hype around this project, support for a marketing manager would be more then welcome.
Not enough information about legality of income sharing.
For me a GIFcoin is worth to invest, firstly because of the field (gambling), secondly because of the already existing revenue (VitalBet). I do not thing it will be a rocket to the moon with a splendid income after couple months, but I am pretty sure it will bring a nice percent in couple years perspective.
For more details check the GIFcoin website:
and VitalBet webpage:
https://vitalbet.com/sport/soccer
Project whitepaper:
https://www.gifcoin.io/GifCoin-WhitePaper.pdf
Litepaper:
https://www.gifcoin.io/GIFcoin-Litepaper.pdf
If you want to buy GIFcoin tokens click here:
https://www.gifcoin.io/?r=1012
PreICO with 30% discount already begin (22nd of February).
ICO starts on 16th of March.
There is no limit for a maximum investment and 0.01 ETH limit for a minimum. Citizens of USA and China cannot purchase GIFcoin tokens.
This review was written at the beginning of March 2018. Since that time GIFcoin collected soft cap.
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