True Flip Q&A session — THE ANSWERS

Hey there! In recent weeks, the True Flip community has sent us dozens upon dozens of questions. We sincerely appreciate your interest in our business, and it’s an honor that many of you follow our success so closely.

We took the liberty of merging many of the questions into a comprehensive Q&A on True Flip’s development.

· Why do you call yourself an iGaming developer instead of a lottery, as you did during the ICO?

That’s true, we started this business with a single game hosted on a self-developed platform. But over the course of several post-ICO months, we clearly realized we needed a diversified gaming portfolio, which would drive our users to spend more time on trueflip.io and keep coming back. We’ve also put together a powerful game dev team, allowing True Flip to create beautiful and unique games right in house. In our opinion, the market lacks quality gaming content and fresh gameplay mechanics, so we’ve focused on occupying and developing this niche.

· Why do you still operate when game development is now the main business?

We strongly believe that operating our own platform is extremely important for an innovative iGaming business. First, this is the most effective — and moreover a really rapid — way of acquiring user feedback and data on our products. Unlike many similar market players (and thanks to our real operation), we have an absolutely one-of-a-kind stake of data and unique experience we can consider when working on products.

At the same time, the operation brings in some profits to cover the day-to-day expenses, and thus we can channel 2–3 times more crowdfunding revenue into development.

· You’ve made lots of new games and improved older ones. Can you tell us about the stats for these games?

The general stats are presented on tfl.trueflip.io. One year in operation has translated into almost 600 completed draws of Flip’s Star and over 500,000 spins of Chain’s Code, while over 100,000 games of Pirate Bay have been played.

We completely believe in True Flip’s potential. With each new product, the user engagement and LTV grows. For current products, we have collected extensive feedback and prepared a massive list of improvements that will be implemented in the coming months. These improvements will significantly elevate the current performance of these products.

· Will True Flip continue releasing new games?

Although our WP announced the release of just four games, after a year of work, we see huge potential in this development vector. More than a hundred operating casinos are interested in integrating our products. We are really keen on expanding our product portfolio and diversifying the player experience. Therefore, we intend to develop many games and run them on our platform. Moreover, we plan to enter the B2B market as a full-fledged game developer. Our first integration is already underway!

· Will True Flip add a Hi/Lo dice game?

Yes, you’ve actually uncovered our plans! Our 5th game, Magic Dice, will be released in September 2018, poised to become the most beautiful product to hit the gambling market! So, stay tuned!

· Have you considered turning True Flip into a major casino with more than 100 games? What about hosting games from other providers?

Naturally, trueflip.io seeks to include more and more different games. Our production schedule is set up to release at least one game every two months, and we don’t plan to stop even after dozens of games have been launched. Of course the platform can host third-party products, but we are far more motivated by the development of our own identity. Why build another boring casino when our unique concept is already here? :)

· What is True Flip’s financial situation?

Our burn rate is currently $100,000–150,000 monthly. The monthly expenses depend on the current development needs, as well as the costs of third-party services and consulting, legal support, and participation in events. The overwhelming majority of expenses consist of direct development costs — game development, platform improvement, and so on.

In Q3, the average amount of deposits on the platform has been $40,000–50,000 monthly. We expect this indicator to grow in Q4, primarily due to the launch of three new instant games — Magic Dice, Crypto Millionaire, and Mining Factory — as well as major updates to the current games. The launch of an updated platform in October or November and advances in the B2B field is also expected to contribute to increased deposit volume.

· How many people have won big prizes?

So far, we’ve had at least a dozen huge wins, all of which were paid out promptly. Everyone can easily check this info in the draw archive — you can even verify the exact Bitcoin blockchain block that provided the lucky combination. For instance, a player recently snagged the Rapid to the Moon Jackpot, which was 4.016 BTC, worth $30,000 at the time! Similar cases happen quite often on trueflip.io, and winnings of smaller but nonetheless sweet prizes are almost everyday occurrences here.

· If somebody wins the 400 BTC Jackpot, how big will the next jackpot be?

The reserve Jackpot is set at 80 BTC.

· How can you prove that your prize size is real?

https://blockchain.info/address/1FmQr2LMFQCp74Csyzbhq4JqzMDG7uMMnj

· Why are withdrawals only available in Bitcoin?

Bitcoin is the currency of the future that removes many existing borders. For us, Bitcoin still represents a bit less of a headache in legal matters (this is quickly changing, though), and for our customers, crypto is a way to receive their rewards instantly with no bureaucratic consequences.

· Do you plan to reduce the minimum withdrawal amount and the commission for withdrawals?

The server hardware necessary for the rapid transfer of payments incurs constant costs. We will try to reduce the size of commissions as the volume of top-ups increases.

· Could you make a tutorial on how to use Changelly?

We do make simple yet comprehensive guides for all our products, but Changelly has already prepared many things on its own!

For example, these:
1 2 3

· When is the token holders’ game (Master Flip) held? Do you pay real dividends?

We do not pay dividends, since TFL is 100% a utility token. Master Flip is held at the end of each quarter, and so far, we have already played three rounds of it.

· Can you hold Master Flip more often?

We think four times a year is frequent enough for such an event. It takes time and effort to set up and host the game, and we don’t want to funnel resources intended for game development and other activities into it.

· Could you provide the monthly income for the Token Holders fund and a forecast for the upcoming couple of years? Please include some justification for the forecasted numbers.

Current payouts can be viewed at tfl.trueflip.io. Of course, at present, no more than 10% of our plans for the future have been implemented. This allows us to count on a multiple increase in the profits of this company.

· Why do token holders receive BTC instead of TFL or ETH?

Master Flip’s fund is formed from game revenue, which is accumulated in BTC. Therefore, the distribution is in BTC as well.

· Do you have any plans to increase the TFL price?

“Increasing” an asset price on a free trade market would necessitate numerous manipulations, which we don’t find appropriate for ethical reasons. This market has been remaining rather young and unstable, leaving separate assets surprisingly underestimated, in favor of overpriced hypes, blasting into the void from time to time. We’re betting this picture will be subject to major changes in the next few years, with the increase of assets backed by successful products rather than utopic ideas. Still, the relatively low current price of the True Flip token is our best marketing tool! Now we have more qualified and engaged investors estimating the current state and the future of this asset, just as we’re doing.

· How are TFL tokens distributed after they are accepted in True Flip’s games? Does it fit the whitepaper’s model of how ticket sales are distributed?

Our WP didn’t consider the possibility of receiving TFL, which appeared after the ICO. Playing with TFL doesn’t add any proceedings to the Jackpot, so the model differs from the distribution of crypto payments. At the moment, the model is as follows:

*30% distributed once a year to token holders in the game Master Flip;
*50% sent to bounty programs (bugs, promos, competitions);
*20% transferred to the team for operational expenses and employee motivation.

· Are you planning to list the token on additional exchanges?

The exchanges where True Flip is currently listed fully satisfy the needs of TFL holders, allowing them to sell and buy the token with ease. At the same time, we won’t rule out the possibility of listing TFL on additional sites in the future.

· I heard some exchanges do not require a listing fee. Are you planning to list the TFL token on other exchanges that don’t require fees?

Listing our token on as many exchanges as possible isn’t our goal. Last year brought us hundreds of new marketplaces all over the place, but even a quick analysis shows that most of these services aren’t worth spending our resources on, as they don’t have any real volume at all. TFL is easy to buy and sell right now, so why would we hunt for another point of sales?

· What would happen if players bought lots of TFL from the exchange and played with them such that the TFL supply was reduced to zero and the True Flip team owned the most TFL?

We don’t know what would happen under such circumstances, but we do not believe it’s a feasible situation because most TFL purchases are for the purpose of participating in Master Flip and receiving quarterly wins, for which users require the tokens in their own possession.

· Can you reveal your plans for attracting new investors?

After a tough year of development, True Flip is now a hundred times more appealing to invest in that it used to be. Therefore, we often receive various investment/co-operation offers. We currently work with legal and financial advisors to render the TFL token economy even more attractive. At the same time, our interest in investment is hardly a financial matter — we mostly consider the reputational and networking benefits and the knowledge we can acquire.

· What is your marketing strategy? What important things have you done lately for marketing?

In the last Flipcast, we announced that the marketing department focused on attracting players, launching new advertising channels and campaigns, and optimizing e-mail dispatches. More specifically, we’ve launched campaigns on several advertising networks and have created several dozen landing pages to promote True Flip. In just one quarter, we achieved more than 100 million impressions.

At the moment, we are working on a completely new retention system, including bonuses for players, an achievement-based gamification system, a full-scale and stable BI setup and, of course, a high-quality referral program for our partners. We’re also working on a solution for effective interaction with affiliates.

· Are you going to advertise on TV?

TV advertising isn’t a common marketing practice for an establishment like True Flip. These days, we mostly focus on targeted web advertising as the most effective tool for our current needs. Still, we haven’t completely ruled out the idea of a TV ad under certain conditions in the future — i.e. with suitable licensing permits acquired and/or YouTube ads.

· Are there any other activities — except game dev — that you would consider going into? Would you want to diversify business with an offline operation?

At the moment, we’re mainly a game developer, and this will remain our priority for at least 2–3 years. At the same time, our operational branch continues to work successfully. Our current business model, of course, may be subject to change in the future due to the overall state of the iGaming and crypto markets. Simultaneously, our team believes we’ve found the best possible setup to continue working.

· Does your B2B model imply the development and launch of any white-label solutions?

We’ve been continuously asked this question for the last one and a half years :) At the moment, this isn’t a priority. But we definitely wouldn’t rule out opportunity in the future, since, to date, there’s plenty of know-how and genuine in-house solutions worth sharing to the market.

· Why do you take part in all these exhibitions? Is it really worth the expenses?

Yes, it is! From the very beginning, we’ve been taking advantage of networking opportunities. Most of our existing fruitful partnerships are the result of effective communications. Also, we very much need to stay on top of the current market trends, and a good industrial show is an exceptionally valuable data source. Moreover, as a young business, we need to work hard on brand awareness in the eyes of market leaders and potential partners. Essentially, events are how we create a stable, positive reputation for TF as a trustworthy market player.

· What’s the current size of your team? Do you have any further growth plans in this regard?

True Flip is currently run by nearly 25 team members. For sure, we definitely need some extra hands and expertise in various fields to handle and support the growth. At the same time, we’re very selective in this regard. So, the answer is yes, we’re hiring — but this growth is rather slow and meticulous.

Please remember that your feedback and involvement are always the best support our team receives!

Yours,
TF team