GIFcoin.io - Gambling Investment Fund

ICO GifCoin Review

One doesn't often find this: ICO GifCoin is almost ideal initial placement of coins in terms of preparation. You can share or not share the team's enthusiasm for the goals, but you need to give them credit for the approach to the process.

The game investment fund claims an interest in a huge, ever-growing, global market of gambling and betting. According to the table above, it can be estimated at more than 700 billion US dollars.

The project works in both directions: gambling and betting on various events, mostly sports.

These markets show a constant increase of more than 3% annually. And the sports betting market will even accelerate. It is planned to increase its profitability by 5.2% for 2020.

What problems does the company solve?
ICO GifCoin is held to raise funds for the further development of an already existing project. It is supposed to use crowdsale for qualitative change of a platform and expansion of geography of users.

In mid-2015, a team from Bulgaria launched a bookmaker online service. It's called VitalBet.com.

Resource offers to bet on all major sports, e-sports, virtual sports, online casinos.

Now there are more than 20 000 active users on the resource from more than twenty European countries. The project succeeded to get the 71st place in the world in a new sphere for two and a half years.

The new goal of the team was to get on the 15 most profitable sites, providing the opportunity to bet on sports and gambling. They believe that using cryptocurrency for bets and input-output of funds will significantly strengthen their position. They plan to become the third in terms of yield among the cryptocurrency bookmaking resources.

The site works absolutely legally, as the development team has received all the necessary licenses for its activities. In countries where such permits are not available, the resource is not available. The collection of funds for licensing also led to the launch of the ICO.

The idea of the project is not original, but it has few competitors. It's even more surprising that another Bulgarian team (Ultraplay) is also conducting ICO eGold in the same time and on the same topic.

How it works
GIF will not be used either as a means of payment within the platform, nor as a utility token. Its purpose is to take into account the contributions made and be the basis for calculating the investment returns.

The investor who bought the coins is entered in the database indicating the number of tokens available. The developers promise to give 80% of the net profit received for the year to their investors, the amount of dividends paid will directly depend on the number of tokens at the address.

The ICO site has a tool that shows the amount of profit per GIF token, depending on the number of users of VitalBet.com.

The more active players, the higher the profit per each token.

According to the calculations of the project team, each of the gambling players on average loses $ 360 per year. This amount is multiplied by the number of players, then all expenses are deducted from the result obtained. The resulting amount is divided by the total number of coins issued (300,000,000). This value is the annual revenue per GIF.

The profit will be paid to investors once a year. The process is based on the use of smart contracts and will occur automatically.

The distribution of profits will follow the following algorithm:

1. With the snapshot (to avoid misunderstandings), the number of GIF tokens for each address per block will be fixed, which will be recognized as the last one in the current reporting period.
2. 80% of the net profit will be proportionally divided between all addresses.
   The number of the control block will be announced in advance on the website and duplicated to investors by e-mail.

Key Features
The main goal of the project team is simplicity, security and accessibility for online gambling and sports betting. For this they are going to use their own developments in the IT field.

Now VitalBet offers players:
• to bet on events related to sports;
• to make sports bets when the event has already begun (inplay);
• to play in a virtual casino, including with a real banker;
• to play video games;
• to bet on the results of e-sports matches.
In the future, it is planned to launch an online broadcast of sports competitions.

Investors who decided to participate in the Gaming Investment Fund become beneficiaries in a sustainable and profitable business that has good prospects in the long term.

The project involves expanding the geography of work to attract new customers. To this end, negotiations are under way with the relevant departments of different countries to allow access to local bookmaker markets.

The second important aspect to which the project is aimed is convenience for users. The team has experienced specialists who are constantly engaged in monitoring this issue and implementing it. They strive to do so that:
• The site had a simple, convenient, beautiful and intuitive interface;
• it would be possible to top up and withdraw funds using bitcoin, as well as to pay bets on the site;
• the most popular crypto-currencies (ETH, LTC, XRP, DASH and others) would be used for the same purposes;
• the rates on the resource would be fair and would not contain hidden commissions.

The project team publishes its financial performance, and promises to do so in the future, so that each of the investors can verify the correctness of the accrual of profit.

Now that the bounty campagin has just started, there is a table in which all the participants are marked and what they are doing. Accounting is conducted for honest payments to all those who helped in the promotion of the ICO.

Another positive feature of the project is the use of smart contracts. Thanks to this, coins will be listed on the wallets of investors immediately after their release. There will be no delays. There will also be a payment of income for each GifCoin.

The developers pay great attention to security. Everything related to money is classified as an increased risk. During the entire time of VitalBet.com, no successful hacker attack has been conducted on it. The safety of the resource is regularly checked.

The level of reliability of the players' accounts and their funds will become even higher with the beginning of the use of the blockchain. This will attract additional participants and, therefore, will increase the revenue for each GIF.

Bounty Campaign

The ICO promotion company started on January 25, 2018. It will last six weeks. It is expected to spend 1 million US dollars or 10,000,000 GIF tokens. The amounts can "flow" from one section to another. So, it turned out that they spent 30% less on transfers than it was planned. Savings will be redistributed between other areas of the advertising company.

In addition to already performed transfers, the bounty-campaign offers payment for:
• using the signature in the style of Gifcoin for forum participants bitcointalk, the price is from $ 120 per week to $ 960; for statutory members, an increase of 50% is proposed (limited to three hundred users);
• quality entries, articles and reviews in blogs and on third-party resources (the rules stipulate that publication on which resources is not counted); The amount of payment depends on the content and is in the range of 40 to 1000 dollars;
• the publication of video on videohostings; 400 people can take part in the process; payment depends on the number of views, the cost varies from 200 to 6000 dollars, an additional prize is offered for the best video in the number of views;
• for publication and reviews on the Reddit network - a reward of 10 to 30 dollars;
• subscription to the news of the project in Facebook or Twitter, reposting these news, writing personal messages;
• joining the group Gifcoin Community in Telegram active participation in it - the reward will be about 12 dollars a week.

Payment will be made to GIF tokens after the end of the bounty-campaign. The rates are indicated in dollars for an approximate idea of the earnings of program participants.

Getting coins
Unlike the Vitalbet platform, where you can pay up using the most popular in the industry ways of transferring fiat money - plastic cards, payment systems and electronic wallet, the GIF token can only be purchased for Ethereum on the ICO GifCoin. This can only be done on the website of the initial coin placement www.gifcoin.io. Revenues will be paid by the same cryptocurrency. No fiat money is used in the conduct of the ICO.

The minimum contribution to participate in the ICO is 0.01 ETH. There is no maximum limit, everything will depend on the remaining unallocated quantity of GifCoin. Tokens will be received on your Ethereum-wallet immediately after purchase.

Another way to get GIF is to participate in the bounty program. You can make money out of:
• translation of documents;
• subscription;
• creation of text and video information about the project;
• distribution of information in social networks.

Important note from the developers - not all wallets are suitable for investment, it is recommended to use MetaMask and MyEtherWallet. Read more about this on the project website.

It should be remembered that you can not pay for participation in ICO from wallets on cryptoexchange exchanges. This is due to the fact that often exchanges pay your transactions from their own wallet, which stores user funds. This address is registered in a smart contract, and the revenue from possession of tokens GifCoin will be transferred to this address. That is, instead of your wallet money will hit the cryptoexchange wallet. You will not be able to prove that those are your resources. Therefore, before investing money in the ICO, transfer money to your own separate address, and pay for the participation in the primary placement using it.

Negotiations are currently underway with cryptoexchange exchanges on the inclusion of the GIF token in their listings. So they can be purchased and there soon.

Issue and distribution of coins
The cost of one GIF token is equal to 0.0001 ETH.

The entire project for the release of GifCoin is built on the basis of Ethereum Virtual Machine, so the coin complies with the ERC-20 standard. Intellectual contracts are also an integral part of the platform.

It is planned to issue 300 million GifCoin. Some of them will be used in the pre-sale distribution, this is 20,000,000, plus 15% of bonus coins, which will be added to each pre-ICO participating (total 230,000,000). 10 000 000 will go to the bounty program.

240 000 000 GIF will be distributed at the main primary coin placement, and another 27 000 000 will be credited to the project developers. The team tokens will be blocked for a while to avoid preferences to the other participants.

There is a $ 24 million or 24,000 ethers, as well as soft-cap in 5000 ethers for the primary placement of coins.

If the collection procedure is successfully completed, the money will be distributed as follows:
• $ 1 million will be used to upgrade the existing VitalBet platform and develop an application for smartphones;
• $ 4,000,000 will be invested in the marketing company;
• $ 12,000,000 will be spent for an active advertising campaign;
• $ 5,000,000 are contributed to the fund as operating cash for winners and losers;
• $ 2 000 000 will be required for expenses for obtaining licenses in the states where the expansion of the project is planned.

If the hard cap is not reached, then all the remaining coins will be burned.

Road map
Developers have created a road map which was called "11 steps to our common success."

After the completion of the ICO, a joint stock company will be created, of which the VitalBet platform will also be a part. The company will guarantee receipt of income from possession of the token. In fact, the project will be transformed into a joint stock company, and tokens will become digital shares.

Concurrently, the team will attract the best specialists to create the VitalBet brand and turn it into a global one. They will help to create the best IT solutions, marketing and advertising promotion of the project.

These stages are scheduled for March 2018

The development team begins work on a new design of the site after the completion of the ICO without waiting for the arrival of new specialists. It is planned to make it more user-friendly and introduce new functions. Website design is called Top-Notch. It will be created in April 2018.

After completion of the resource upgrade, the released specialists will be directed to create a mobile application VitalBet for the main operating systems - IOS, Android, Windows.

Next, the affiliate program for active players will be reviewed. It will be amended to increase bonuses and incentive payments for the platform participants.

The implementation of both phases is scheduled for May 2018.

The introduction of cryptocurrency into the site platform will be the next step. It is intended to use them to pay bets, replenish the account and withdraw funds from it.

It is time for marketing and advertising companies at the end of the main technical changes. It is planned to use resources popular in online betting. This will not be a large-scale deafening action, but a narrowly targeted impact on the target audience. This approach should bring more effectiveness than an attempt to attract newcomers from the outside.

Work on these items will be launched in June.

An important role is played by obtaining licenses in those countries where VitalBet is not yet represented. Now the United States and China are among these countries. These are two huge markets, without work on which it is impossible to achieve the goal - to get into the top 15 betting platforms in the world. The launch is slated for July.

The next stage in the development of the project will be the release of the VitalBet v.2.0 platform in August 2018. It accumulates all existing and newly created developments in order to become one of the most attractive in terms of functionality for players.

The team expects that the number of active participants in the VitalBet platform will grow fivefold in the next six months as a result of all these actions. The team counts on 1,000,000 active players by the end of 2018.

The first dividends will also be paid to investors in late 2018.

Team
In 2011, a web designer, an expert in site optimization, a programmer and an expert in Internet advertising joined the team to create personal projects. They worked in various Amazon affiliate programs. They found betting online business the most interesting of all the areas with which they worked. Started to produce casino catalogs in Bulgaria, and an office where you can make various bets. After successful business development, it was decided to launch a similar project in the UK, and then in other countries.

The basic staff of the team now consists of eight people.

The founder and executive director is Krasimir Popov. He has extensive experience in the gambling industry - he owns more than 50 projects.

Svetoslav Dimitrov is responsible for brand promotion and marketing in social networks. Trifon Boyukliyski is engaged in online advertising and marketing.

Zhivko Nikolov is a specialist in blockchain technology, the developer of the project. Todor Nikolov specializes in developing and maintaining the hardware and software part of the platform, he has the functions of system administration of the site. Krasen Hristov leads the front-end project, responsible for its appearance and user interface.

Valentin Milenov is an expert in bookmaker's bets, responsible for the creation and operation of user profiles and manages the betting bank. Ivailo Petrov leads the project in the direction of electronic sports.

Some experts consider it a drawback that all members of the team from one country and that there are no known consultants in it.

The presence of only one specialist in blockchain technology in the team - this is clearly not enough. In addition, White Paper says that he began to study this technology in early 2017. None of the other specialists involved in the project are not reported anywhere.

Dates of conducting
Disagreements over the dates are present in the available sources. The bitcointalk shows the conducting time of presale since February 22, 2018 to March 15, 2018, and the main ICO starts on March 16 and ends on April 16.

The ico-check resource indicates other dates:
• The presale will be held from February 19 to March 4;
• crowdsale will start on March 5th and end on April 5th.

It is not known which dates correspond to the truth. Most likely, the more correct are the messages on the forum on February 08.

It is best to subscribe to the ICO information on the website or send an email with questions to [email protected] to be sure of the dates.

You can follow the news via Twitter (https://twitter.com/gifcoin_io) or Telegram (https://t.me/gifcoin).

Expected Financial Indicators
As a result of the research, the developers of the project found out that the annual income of each bookmaker company included in the top 15 list exceeds 800 million dollars.

The net profit will be calculated from the work of the Vitalbet platform. The project team expect to attract 2,300,000 players to its platform, of which 2,100,000 will actively play. From the data specified in White Paper, it follows that every participant of gambling and bookmaker's bets loses $ 360 on average per year. If we multiply these figures, their losses will be $ 756,000,000. What will be the profit of the project.

It is necessary to take into account all expenses in order to calculate the net income. They include: operational and administrative expenses (10%), payment of winnings (10%), settlements with partners (15%), spending on advertising and marketing (20%). 45% or $ 340,000,000 remains in the net balance. The promised 80% for investors turn into $ 270 million.

The development team divides this number into 300 million released tokens and receives a digit of $ 0.9 per GIF token. But, according to the data described in the White Paper of the project, and listed on the ICO website, 263,000,000 tokens will be distributed among investors. The rest is for the team, advisers, and other project participants. That is, someone who is not an investor in the full sense of the word, and who is promised 80% of net income.

Adding bounty program participants here, those who did not invest money, but their strength and time, and is not part of the team, increases the number of tokens for profit distribution by 10,000,000. The calculation shows that investors should receive not $ 0.9, but $ 0.99. And this is a significant difference.

It is not yet clear where this difference originated. But this discrepancy definitely takes away points from the project team.

Comments on the forum
The main discussion of the project unsued on bitcointalk. There are almost no criticism of the project by the community. Most users are inspired by the ideas of the project. The availability of the finished product is especially noted.

There are only a couple of messages on Reddit. It's very strange that such a popular network did not react to the new project.

Summary
ICO GifCoin is a very interesting project in terms of organization and the relationship between the team and potential investors. It can be cited as an example of competent preparation for crowdsale. Although there are some nuances that spoil this impression.

The team composition will be increased. Will it manage to realize plans? Obviously, the team will be able to attract experts of the highest level after the ICO conducting.

It is not yet clear how the calculation of profit for investors will look.

As noted by all members of the forum, the most powerful side of the project is the availability of a working version of the site VitalBet.com. Does it already have profitability indicators and the number of active users? which can be used to judge the success of an existing business.

The second important feature for investors is the role of the GIF token. After the end of the ICO and the opening of the joint-stock company, it, in fact, will become similar to the action in terms of the function for calculating income. It does not give the right to manage the company or the opportunity to claim a proportionate share of the property in case of bankruptcy. But it allows you to receive income from the company's business.

For their real money, investors will get real money once a year for their real money, but in ethers. The better the Gaming Investment Fund goes, the more income will be received by investors.

About how everything goes, whether the hard cap will be reached, how quickly it will be achieved, etc. it's still too early to say. But the project as a whole looks very promising.

Website: https://www.gifcoin.io/

Whitepapper: https://www.gifcoin.io/GifCoin-WhitePaper.pdf

Telegram: https://t.me/gifcoin