Roto Hive: Giving tokens only to people who actually use the platform

First results of ditching the speculation look promising.
You are reading about: "Roto Hive: Giving tokens only to people who actually use the platform"

By Diana (Editor)

Published October 2, 2018

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

roto-hive-early-signups-countries

Click for larger image

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.

The team joked on Twitter they still don’t have the millions to get ROTO listed on Binance but perhaps CZ will bite the bullet once they become a top 30 dApp.

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.

For more information follow Twitter @Roto_Hive or visit rotohive.com.


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About the Author
By Diana (Editor)

BIO: I'm a nobody and nobody cares. I like researching business models so that later I can fail miserably anyway. Editor at @BOC__Official. ·

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