FundFantasy ICO Review
FundFantasy wants to create an online gaming platform, which will focus on simulated trading and investing contests under the "fantasy model", which has become very popular in recent years . The main features of the platform would be the peer-to-peer contests with the inherent transparency and fairness provability provided by blockchain technology.
FundFantasy decided to create that game to let players try to predict the market movement and earn some money, yet risk as little as possible in a simplified environment. The founders have noticed that real online trading is more complex, requires the use of leverage in order to profit in multiples, and necessitates position management techniques such as stop loss orders and more. The biggest problem, however, is that of counterparty risk, moral hazards and conflicts of interest. There are platforms and exchanges, which disappear with their investors and traders money or their fees are making it impossible to profit for regular market player. Therefore, they have come to the conclusion that a peer-to-peer, blockchain-based simulated-investing platform that relies on real market data will allow regular traders to continue practicing their analytical and prediction skills when it comes to financial market, yet there won't be any major counterparty risks that are presently involved.
In order to make the trading experience much more competitive and interesting, the platform prepared a few types of various contests. Like for example, Head-to-head, Multipliers, Winner-takes-all and many more. Contests vary in duration and can range from 1 hour to a full year.
When a player wants to join a particular contest, he needs to buy a ticket. This money is then contributed to the general pool prize. This way, for relatively low price you can have a chance of winning big sums of various cryptocurrencies. There will also be a chance to take part in open free contests.
Portfolios and ranks
Players will be able to create their investment portfolios choosing from various assets, not only limited to cryptocurrencies. They could include stocks, commodities, fiat currencies and many more. These user-submitted portfolios are sorted and ranked as soon as the contest ends based on their overall return and profit. It is calculated with the real-life price quotes from established and well known financial data, using their APIs.
There is also a social part of the platform, where players can set their own rules and create their contests. They can then invite their friends and compete against each other in a fun way.
To assure that no one cheats in this game, all of the necessary transparency and fairness provability is provided by the blockchain technology. The portfolios, which are submitted at the beginning of the contests are encrypted and stored within the blockchain. They cannot be altered or changed during the game. This assures that even platform managers and employees cannot exploit the system and win the contest without properly taking part in it.
Smart contracts will manage and execute all of the processes and transactions when it comes to operating the games, which means that deposits, ticket purchases, contests, payouts and withdrawals are all automated and trustless.
The main advantage of such a game over real trading can be the fact that there is little to no risk of losing big sums of money. If you choose to invest poorly, you only lose a small amount of money that have been spent on the contest ticket. However, in real life if you invest couple of thousands dollars in an asset that turns out to be worth literally nothing, costs you these few thousands real life dollars. FundFantasy may be a good source of income for experience traders or simply lucky predictors, who would like to treat this game like a regular gambling. The potential prize pool can reach very interesting sums. Depending on the contests specs, prizes can exceed 10x , 50x of participation costs.
FundTokens will be used as the main payment method within the platform. You can enter the contests and buy tickets with FUNDZ, as well as receive potential rewards. However, payouts won't be limited to this token, as it will be possible to receive BTC, ETH or other popular cryptocurrencies. FundTokens have general ERC-20 standard, which means you can store them in your Ethereum wallet, alongside other ICO tokens. 0.5% of all payments made using FundTokens will be burnt. This means that the total supply of FundTokens will decrease over time, which can influence positively the future token's worth.
The token sale will start on the 25th of February and will last a month. During that phase, they plan to sell 56,000,000 FUNDZ tokens at the initial exchange rate of 1 ETH = 1000 FUNDZ.
When it comes to the team behind FundFantasy project, it surely consists of very experienced people. Not only, they have worked for money years in their fields, but they have worked in big and known companies and contributed significantly to successful projects. There are people to take care of the business and management side of the project, as well as finances. During the crowdfunding phase a good marketing team is also very important to encourage as many investors as possible. And there are of course programmers and developers responsible for the technical part of the platform and the blockchain technology.
When it comes to demos and graphics presented on the site, the platform seems to be designed very well. It not only looks quite good, but also is possibly easy to use, which can attract many players. The sole fact, that with a very low money input there is a chance of winning big money can attract many potential users, therefore the FundFantasy won't suffer from lack of interest and they have proper means to encourage people to use their platform
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