Roto Hive is a new collaborative prediction fantasy sports platform.
It takes elements of Numerai and FanDuel but creates something completely new: In Roto Hive, users get paid to share fantasy sports predictions and rankings.
The user predictions are then aggregated into meta models and analyzed.
The Challenge and the Potential
Potential of the audience is strong here: Over 50 million people play fantasy sports every year and many in the fantasy sports community are already interested in cryptocurrencies or blockchains.
The challenge here for projects like Roto is how to stand out in the already crowded blockchain industry.
According to Anthony Adams, the creator of Roto Hive, it is still possible to achieve that by building a close community rather than trying to generate a massive social reach before the product and the user base exists.
Roto Hive’s Appeal
In the aftermath of 2017 ICO bubble majority of blockchain projects struggle to survive, despite the amount of funding they got. Roto Hive was not oblivious to that effect and decided not to organize an ICO at all. ,,We do not want to get our token into the hands of speculators at all,” says the team.
To facilitate this idea, Roto offered a free token airdrop to anyone who signed up before 9th September. The platform launched at the start of September 2018 for the beginning of the NFL season as a working product. The development was fully self-funded.
After the launch, one million Roto tokens were pooled and distributed among Roto Hive users who participated in weekly tournaments during the first four weeks of NFL 2018.
The airdrop campaign is now over and with it also the test of the waters.
The Community Is Interested
The results indicate a considerable interest in the community.
The last weekly prize pool in the campaign had 125.000 ROTO in stake with 1162 participant submissions. For comparison, top dApp games in that week did not get over 400 daily active users.
One important aspect is the Roto Hive user statistics are not inflated: Having an airdrop that requires participation instead of simply distributing tokens effectively eliminated users who sign up only to collect the token. Consequently, the number of token holders inactive in the community is relatively low for Roto Hive.
,,We have had around 600 people sign up so far, we hope to have an active user base of 1,000+ by Halloween,” said Adams in mid September. ,,The actual tournaments go live here soon which will bring in more new users and strenghten the engagement of the active community we already have.”
Users from over 20 countries signed up for Roto Hive; top 5 locations included US, United Kingdom, China, Indonesia and Canada.
Overall the strongest Roto Hive user base can be found in North America, Western Europe and the southern and eastern parts of Asia.
Time will tell whether the community will remain engaged enough over time, but the launch campaign success already got cryptoasset exchanges talking with the Roto team about listing.
Either way, Roto Hive seems to be another proof that it is possible to get a popular blockchain project started without an overhyped token sale.
About the Platform
Roto Hive’s Vision
Roto Hive is the first example of a website where fantasy sports fans can collaborate with one another. According to the creators of Roto Hive, over time the crowd approach is likely to outperform centralized fantasy resources and become quite valuable.
Roto Hive’s Team
Roto Hive is based in Texas, US. The owner of the project is Anthony Adams. Lead developer of Roto Hive is Luis Osta, owner of Valencian Digital Group. Michael Lewellen of Olypsis Technologies serves as the lead blockchain technology advisor for Roto Hive.
Roto Hive’s Technology
Roto Hive runs on Ethereum and has an ERC-20 (ROTO) compliance token attached to the system. ROTO token acts as a staking mechanism. It is used to show confidence in predictions and prevent spam.
Users are paid in Roto when they perform well in our weekly tournaments. Users can then stake Roto to their models to win a larger share of a tournament’s Ethereum prize pool.
Full Data File: List of Blockchain Game Companies (Blockchain for Gaming) in Crypto IntelligencePresales and promos success, social media presence, location...
We are also on medium.com/cryptolounge - follow us!
Data File Of List of Blockchain Game Companies (Blockchain for Gaming)
Presales and promos success, social media presence, locations, related companies...See The Data File
The Day in Crypto
More & Better:
Email alerts (2-3 a week)
- Opinions, Analyses & Interviews
- Industry News Releases
- Blockchain Tech Intelligence
Data is beautiful
New Horizons in Fintech for 2019: Payments, Data and Partnerships [Infographic]
The global fintech market saw a period of consolidation in 2018, which is exactly what we saw also in terms of price evaluation of crypto assets. In spite of the “crypto winter”, which is apparently...
East vs. West: Which One Sides With Blockchain?
Digital cash schemes were the holy grail of the late 90s, but since the bitcoin blockchain was invented, suddenly nobody in the West cares.
Shocking Facts About Cryptocurrency Heists [Infographic]
If there is one question in the history of Bitcoin that cannot be answered with anything more than an estimate, it is the problem of how much of Bitcoin’s supply is actually ever available on...
Brand development in forex and crypto: The most expensive domain names [Infographic]
Crypto infographics - Most expensive domain names in forex and crypto. Targeted brand development in forex and crypto with domain names.
Top 8 Women in Blockchain Technology [Infographic]
When it comes to women in crypto, the pre-2016 OG heads will probably come up with names like Alena Vranova and Blythe Masters. Alena Vranova is the former CEO of Satoshi Labs, the company that...
Blockchain Consortium in Trade Finance: 6 Notable Networks [Infographic]
The success of trade finance blockchain implementations depends on how widely they are adopted. That's why we have seen businesses form consortia based on similar interests.
Comparing Forex Market with Cryptocurrency Markets [Infographic]
One of the few metrics that cryptocurrency markets have in common with the forex markets in 2018 is the high percentage of total trades being located on few most popular markets.
Blockchain Technology 101: Blockchains, Blocks and the Role of Price [Infographic]
Blockchain technology 101: What is blockchain, what types of blockchains exist and what role does the cryptocurrency price play.
Real-world companies that accept crypto payments [Infographic]
Infographic - Graphic map of businesses that let customers pay in bitcoin.
Infographic: Blockchain Hacks & Crypto Trading Platform heists 2018 vs 2017
Blockchain infographic comparing the biggest crypto heists of 2018 and 2017. In 2017 the focus lied more on ICOs, smart contracts and wallet.
15 crypto kings that are making history with their engagement in the field of cryptocurrencies
Coining The Bucks With Cryptocurrencies Have you ever wondered how much masters of the cryptocurrencies are worth? Like the guy who founded Ethereum, or the one who started Ripple, for example. The answer, in short,...
The Good And The Bad Of ICOs
Infographic: The good and bad of ICOs - Which token sales raised the most money in 2018?
Industry News Releases
Call to blockchain coders in the US: The Global Blockchain Hackathon, an event taking place...Read >>
- Etheremon celebrating #ChineseNewYear2019 with a series of bounties (Ends 8:00 AM UTC on Feb 11th)
- Crypto Marble dApp Game: Monopoly on Blockchain
- The dApp gaming platform VX Network launched the official VX Wallet in Apple App Store and Google Play
- Etheremon's first Chinese New Year Campaign: Chance to recall two rare mons
- Fuel Games and Cryptokitties bring you "The Cat in the Pack" until the end of January 2019
- Action RPG dApp game Hero of Cryptoworld is starting its character presale
Also by Diana (Editor)
Released on April 03, 2019 03:47:22 AM by Diana (Editor) Read >>
Released on March 26, 2019 05:55:55 AM by Diana (Editor) Read >>