Edgeless Analysis ($EDG)

in edgeless •  5 months ago
The following is not financial advice.

Welcome to back The Scoop!

This is the next post at a place where we share analysis and opinions for interesting coins, tokens and pure gems in the vast landscape of the blockchain world. There's so many coins out there, but not a lot of free information (looking at you, paid groups) and analysis on them. The Scoop aims to change that by sharing and improving the data available for a given coin by focusing on evaluating instead of predicting.

What is Edgeless?

It's a casino game platform with little to no house edge, hence "Edgeless". They have now acquired a casino license with the mainnet launch is coming soon. Registration has started for the platform and things are certainly pointed in an upwards trajectory for the project fundamentally.

Try out Blackjack!
https://edgeless.io/#!/games/blackjack

Where's the wallet?

Use an ETH wallet to keep EDG tokens.

Along with the whitepaper:
https://github.com/EdgelessCasino/White_paper/blob/master/White_Paper.pdf

How many of them are they?

CMC says ~82m circulating with a total supply of 132m.

Who's the team?

Blockchain and smart contract devs, fintech folks and even a professional poker player.

What motivates them?

10% tokens allocated for the team.

Marketcap and Competitors?

~217m with ~6m volume.

Everyone wants it to hit Binance to explode volume (sorta like STRAT's excellent position).

Similar projects or target industry...

  • FunFair ($FUN) -> ~589m
  • DecentBet ($DBET) -> ~42m

How is EDG different?

They got their stuff together, just look at their updates and progress so far.

If nothing else, does anyone think gambling is going to become less popular in the future? Especially now with edgeless games? Unlikely.

Pros

  • actual products
  • license acquired
  • solid team
  • long term prospects

Cons

  • navigating regulations

Any constructive criticism?

Website is a little funny to navigate, less intuitive than most. Just a minor nit, nothing to do with the product, though.

Where is it traded?

Bittrex brings in the most volume for EDG today.

https://coinmarketcap.com/currencies/edgeless/#markets

The Final

Based on the FA, EDG looks like a low to medium risk with high reward potential if they continue to deliver and catch on. Picking it up under 16k sats would be bargain or around $4 would be an upper entry while still expecting solid, crypto-style gains.

And that's your scoop!

Nobody is perfect. See anything I didn't quite get right, or needs correction? Please let me know!
Remember, absolutely NOTHING you read on this blog, twitter or otherwise content anywhere on the Internet by the authors is financial advice, so DYOR and be responsible!
One more time in case you didn't see the first two: this is NOT financial advice! Also, The Scoop authors may hold coins discussed here which may creates some bias, but we try to be fair.
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Good layout and constructive evaluation. I look forward to reviewing more of your crypto content.