Why Content Creators Should Love Lunyr

Lunyr is a new crypto that has surfaced above from the frothy ICO seas, and for a good reason. We at Crypto Sailor will help you navigate this well. To start off, yes, Lunyr is an ICO that is ongoing. If you want to invest, you can do that now. Obviously, don’t be stupid and invest more than you can afford to lose.

With that caveat out of the way, let’s get to the meat of the issue. What is Lunyr and what problem is it trying to solve? Simply put, Lunyr is creating an entire incentive structure around content creation, which is decentralized. Your work is judged by your peers. The more you contribute, and the better your work, the more you get paid. There is no one ‘manager’ deciding how good you are. Your peers – fellow Lunyr owners and enthusiasts initially, and more later, will accept your works.

Initial Launch – Online Encyclopedia

However, Lunyr isn’t starting off as all-creative-works. In fact, its first main market is an online encyclopedia, like Wikipedia, but with a clever incentive structure. Under this structure, Lunyr will pay content creators i.e. people who contribute to the encyclopedia. This is as opposed to Wikipedia that is completely voluntary.

In addition to paying people who write for the encyclopedia, Lunyr will also have rewards for the editing process – again something that Wikipedia lacks.

So why provide these incentives? Mostly, it is to ensure higher quality of work. Wikipedia, as great it is, suffers from not having enough volunteers. There are Wikipedia hoaxes that have been perpetrated over years. These types of issues are expected in the system. However, Lunyr can help solve these problems because people now have a financial incentive to go look at the new commits being made.

The team is already building out a reader-friendly interface. Check out a sample below:

Lunyr Discovery

So yes, as ambitious as it sounds, Lunyr is trying to build an alternative to Wikipedia, with better curation and more topics because it is in the whole network and system’s best interest for this encyclopedia to be accurate and grow.

Beyond Encyclopedias

Since Lunyr announced the encyclopedia idea, people are hung up only on this. However, they are missing the point. Lunyr is about creating a product which has an incentive system built around it for content creation and content curation/editing. This is the real premise behind the idea. The encyclopedia is just the start. The team mentions VR in passing. That’s actually a huge market. Think about a system that has all manners of VR applications available, which are created and curated by the community.

The market opportunity is huge. We’ll of course need to wait and see how well the Lunyr teams succeeds in their mission and implementation. Which is why people are getting in early, and helping the team with funds through the ICO to realize their vision.

Check out the Lunyr site here.

Photo Credit: zappowbang

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TaaS: Closed-End Fund ICO to Invest in Other ICOs

TaaS, or Token as a Service, is an ICO, but is different from other ICOs in that its mandate is to invest in other ICOs to give returns to its ICO holders. Confused? Fear not, we’ll explain this project, true sailor style, Ahoy!

So firstly, TaaS is itself an ICO to distribute TaaS tokens. You can see the ICO details here. Just as with any ICO, the people who buy into the ICO will get the tokens, proportional to how much they have invested compared to others. This is a capped ICO. A total of 101 million dollars can be raised, and all other tokens will be destroyed if that limit is not reached (unlikely to reach that limit anyway).

Now for the fun part. TaaS is a closed-end fund. This means they will use the money invested in the ICO to invest in the markets. What types of markets? Well, crypto-markets of course! They will invest in other crypto ICOs and crypto currencies. This is the source of returns for the fund. A part of the profits are used to benefit the token holders, a part of it goes back to the team to manage the fund. Basically, it’s like any other fund, but the owners are crypto-token holders, and profits are distributed to them.

Another interesting feature of TaaS that distinguishes it from other projects is that they are building not just an investment platform, but also a research platform. This is an interesting development, because as crypto sailor readers already know, data is hard to come by in crypto. They are calling this Kepler. Kepler is aimed to be to crypto funds what Bloomberg terminal is to traditional financial funds, i.e. a one stop shop for all data and analytics for the industry.

So what is TaaS? It is a combination of investment and research product. Investment is via a closed-end fund. Research is via a product soon to be launched called Kepler.

So far so good, so why should you invest in TaaS? Firstly, if you don’t know what you’re doing, you should quit immediately, i.e. don’t invest any money. It is easy to lose money in crypto if you don’t know what you’re doing. Secondly, never ever invest more than you can afford to lose. If you lose all of your investment, don’t whine on the forums. Move on. Still want to learn more? Read on.

The value proposition is simple – TaaS will help you gain exposure to crypto as an asset class. This is important for more established and institutional investors. These people will not look at the thousand cyrpto coins and hundreds of coins/scams/ICOs to evaluate projects. Instead, they want a one-stop-shop place to gain exposure to this emerging asset class. TaaS offers such a solution.

But even for crypto enthusiasts who live and breathe this space, there is only so much research you can keep up with. Funds like TaaS help you go long crypto without having to worry about missing out the next big thing or going to scores of Reddit threads each day to figure out what ICOs are out and which ones are worth investing in. TaaS will do this for you.

Check out the website and whitepaper on their homepage.

Bitcointalk forum profile.

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Edgeless Raises 50,000 ETH to Reach First Milestone

Edgeless Milestones
Edgeless, currently the hottest ICO on Ethereum, has reached its first funding milestone of 50,000 ETH in just a day of the ICO. Edgeless is a decentralized 0% house edge casino built on Ethereum, using smart contracts to ensure that the casino cannot cheat. Users will be mathematically guaranteed that they are not being taken for a ride, or worse scammed.

This milestone is very important for the Edgeless project because it means the funding is sufficient for the team to develop at least the first stage of the project, i.e. the funds will not be returned to the backers and project abandoned. Last year we saw some Ethereum projects get canceled because they couldn’t raise the minimum amount of money – projects like Inchain. With the first milestone reached within a day, the backers are guaranteed that Edgeless will start working on its product.

Edgeless is involved in a challenging environment when it comes to its ICO, owing to the rapid price increase in both Bitcoin and Ethereum. When the price of the underlying protocol increases so rapidly, people tend to hold on to Ethereum, instead of taking the risk and looking for higher returns on new projects. In that sense, Edgeless raising 50,000 ETH on the first day is double laudable.

The First Milestone

With the first milestone reached, the Edgeless team has guaranteed the minimum product it will develop. These include the following:

  • Black Jack with a 0% house edge (Edgeless makes money through user mistakes, i.e. when they play imperfect game).
  • Lounge lottery, which will ensure that 40% of the profits get distributed to the Edgeless tokenholders (EDG) as a lottery game. Due to regulatory concerns, Edgeless moved away from a steady dividend paying cryptocurrency.
  • Bankroll management system, which is needed to scale the maximum allowable bet according to how much the house has in reserves.

If Edgeless is able to reach its second milestone of 110,000 ETH, the bankroll will increase considerably, along with a more robust investment in security of the platform. Due to the power hour bonuses, many Ethereum investors and gamblers who were anticipating this project have invested already. However, we at crypto sailor believe that the project will be able to raise many more Ether, even in this current challenging environment, before the ICO closes completely.

If you’re interested in the project, check out the Edgeless project on Ethereum.

Disclaimer: US citizens are not legally allowed to participate in Edgeless Project crowdsale

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Edgeless Answers FAQ on Eve of ICO


Edgeless, the world’s first 0% house edge online casino built on top of Ethereum using provable randomness and smart contracts, has provided a giant, comprehensive list of answers to some of the most frequently asked questions. The timing is well received by the community, coming just 2 days before the start of its Initial Coin Offering (ICO) where the project aims to raise around 400,000 ETH (around $5 million). You can read the post here.

There have been some questions and skepticism among the crypto community on how exactly Edegeless will make money if it is a 0% house edge and whether its claims of provable randomness are accurate. With the latest FAQ answered, the Edgeless team hopes to put all such speculation to rest, and instead focus on project development and fundraising through the ICO by providing a valuable service to the community.

The post also clarified some legal questions around the ICO and the reasons behind why certain structures were chosen over a more traditional ‘dividend’ that has been adopted by previous projects like ICONOMI. One of the reasons for not paying ‘dividends’ is that not doing so makes it easier from a legal perspective. Another reason is that it is easier to get the Edgeless (EDG) token listed on exchanges if there are no dividends. This seems to be one of the criteria for Poloniex, which continues to be the largest crypto-exchange for altcoins generally, including new ICO tokens. On the legal side, the team again clarified that no US investors are allowed in the ICO, and that the project will block US-based IP addresses (although acknowledging that it is possible to use VPNs by American persons – but the project can prove it had sufficient safeguards in place, if questioned by US authorities).

The post comes at a critical time for Edgeless project, with the ICO beginning in just 2 days. Edgeless also has a power-hour where the price of EDG tokens will be lower – 1 ETH during the first hour will get investors 1200 EDG. The first week bonus is 1100 EDG for 1 ETH. The project aims to sell all of 440,000,000 EDG tokens during the ICO to investors. Depending on what price they’re able to get (i.e. different bonus tiers), Edgeless will end up with 370,000 to 440,000 ETH at the end of the ICO if successful. A total of 500,000,000 EDG will exist in total.

Edgeless ICO will hope that the recent investor enthusiasm for projects like Dfinity and Melon will carry over to Edgeless as well. The more recent ICOs showed there is still a lot of investor appetite for Ethereum-based ICOs that appeal to the community. Gambling seems like an industry that can be made significantly better using the tools available in Ethereum.

Check out the Edgeless official site and ICO details here.

Disclaimer: US citizens are not legally allowed to participate in Edgeless Project crowdsale

Photo Credit: martini

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Augmentors Combines AR and Blockchain Into a Powerful Offering

Augmentors VR
Augmentors is what you get when you combine the two hottest trends in technology at the moment – Augmented Reality (AR) gaming and blockchain. And that deadly combination, says your ship captain, isn’t without merit. The natural combination provides features that have never been available to game fans before. Unique characters, ability to trade and make money, and just being part of what seems like the next tech revolution, are not quantifiable in money. But the ICO definitely is.

But before we get into the ICO, some history. Augmentors is essentially a gaming company. You’ll be playing a game with unique creatures and characters, and augmentors is presenting the in-game token of Databits. The technicals behind this token are quite interesting too. The team has chosen to use Counterparty to issue these tokens. This makes Augmentors the first AR gaming company on Bitcoin, the most dominant crypto and blockchain today, by far. Secondly, there is a precedent for gaming and Counterparty in the form of BitCrystals. Although  not the greatest financial hit, Spells of Genesis is a well known game in the Bitcoin community, what with its mysterious Satoshi card! So there is definitely demand for crypto tokens and gaming.

Augmentor Relics

Augmentors is taking this one step further by making the gaming platform even more exciting, by making it AR-enabled. It plans to make this cross-platform too, for both iOS and Android.

Now the concept behind Augmentors is really interesting because the in-game token that is being sold in the ICO, called databits (DBS) has real in-game value. For one, you can provably assign each ‘creature and relic’ in the game to a unique counterparty token id. This means you really do own the creature, and can trade it to someone else. Instantly, there is a liquid trading market to bootstrap both the game and the players. Just so if the excitement wasn’t enough for you, there are Winner-Take-All battles that are sure to get exciting. Finally, there will be a collection of 50 rare creatures that you can buy. All of this in-game economic activity takes place using the in-game ICO token Databits.

Augmentors ICO Schedule

Now that we know about this really interesting Counterparty token, let’s talk about the ICO. The token has a fixed cap of 100 million, with 70 million being given away during the crowdsale ICO and 30 million reserved for the team and promotional activities. That’s a healthy percentage to motivate the team to perform well, while giving investors the majority stake in the economics to keep the system decentralized.

So there you have it. There is still time to get in on this exciting ICO. Check it out here.

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Edgeless Casino: Fair, No Edge, Blockchain-Based Casino

Edgeless Casino
Edgeless casino is a new Ethereum project with the aim to create a decentralized, fair casino with no house edge. That’s right, Edgeless is a provably fair casino with 0% edge. So let’s get the first immediate question answered – how does Edgeless make money? Three sources primarily –

  • Gamblers don’t play a perfect game, they make mistakes. If you don’t play a perfect game, statistically you’ll lose.
  • Games have an inherent advantage. For example, the house always has an edge built into the game of Blackjack (around 0.85% if you want the math).
  • There are limits on how much you can bet. These limits make play away from perfect game. For example, for obvious reasons, you cannot apply the martingale strategy.

If you really want to know more, read the whitepaper. Seriously folks, read the damn whitepaper first to learn about any crypto project, especially because of what I am about to tell you now – yes, it is holding an ICO. Now, don’t be stupid and gamble in ICOs without doing your due diligence, so once again, read the whitepaper before you invest a penny. Oh and did you know, like so many other ICOs now, no US citizens allowed. Seriously.

Non-US Investors, Read on

Ok, so if you’re a non-US investor, what’s the ICO investment thesis for Edgeless? Firstly, you need to believe that the world needs another casino. The unique selling point of Edgeless casino is –

  • It’s decentralized.
  • It’s transparent.
  • There is no house edge.

If you believe there will be demand from gamblers for such a type of casino, only then consider the ICO. Ahoy mates, without a belief in the product and underlying idea, stay away!

Now, given the ways in which Edgeless casino will make money, as described above, how is that given to the investors? It’s important to note this point – not dividends. Unlike many other projects (I am looking at you, ICONOMI), Edgeless has actually done its homework on what types of structures constitute a ‘dividend’ and thus makes the offering a ‘security’. And we all know, security=bad, software presale=good. So, edgeless is choosing the good option.

But, here’s the brilliant legal part of this offering – you can still get money out of the project (i.e. not just through price speculation) through what’s called the Edgeless Lounge. In a nutshell, 40% of the profits go into this pool. It’s a lottery-like system only accessible via the token. So there you have it – it’s a way to play/gamble to get your money out. Clever, eh?

ICO Implementation

If you’re brave enough, here’s the actual contract. In code. It’s an ERC20 token on Ethereum.

The ICO starts 28th February 2017, 3:00 pm GMT, with the following tiers:

  • Power-hour for one hour, where 1 ETH buys you 1200 EDG.
  • 1st week: 1 ETH gets you 1100 EDG.
  • 2nd week: 1 ETH earns you 1050 EDG.
  • 3rd week: 1 ETH brings you 1000 EDG.

So there you have the ICO details, and other information that you need to decide whether you want to contribute to the ICO or not. Remember, these are some hot times in the ICO markets, with recent projects like Dfinity and Melon completing their ICOs respectively in a few hours and a few minutes.

Check out Edgeless here.

Disclaimer: US citizens are not legally allowed to participate in Edgeless Project crowdsale.

 

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ARK: A New Cryptocurrency With a Mission

ark

In a crowded field of altcoins and ICOs coming up every other day, ARK aims to stand out from the rest through its technology and vision. Yes, it is also going to go through an ICO, but it isn’t one of those copy-paste coins (and if it were, we likely wouldn’t be covering it on our blog anyway). As usual, if you decide to invest in any ICO, do your due diligence and remember not to invest your rent money into any. Also, if you’re interested, here’s the link to its Bitcointalk announcement thread.

Technology

So let’s tackle the technology piece first. ARK is built on the backs of Lisk (and Crypti) and Bitshares. As you might have guessed, it borrows its consensus algorithm from Bitshares, via the delegated proof of stake (DPoS) system.

More interestingly, ARK is building a ‘smartbridge’ technology. It is a custom piece of information embedded in transactions that allow it to transact in a different blockchain. This way, ARK can easily adjust whichever way the wind flows, and borrow from the more successful blockchains even as it grows and expands its services and technology.

The ARK technology gives it a lot of technical flexibility to steer its direction in the future. As the space is really emerging at the moment with no clear winners or a clear sense of which way the ship will turn, ARK provides a framework to capture the best of the cryptocurrency space.

In addition to just cryptocurrency/blockchain technologies, the team has plans to work on implementing smart cards that can allow users to spend their money. We’ll cover more details in the Vision section below.

Vision

In addition to its technology and technological vision, ARK is really positioning itself as a crypto for the long-term. It is trying to build an entire ecosystem that isn’t just geared to do the fancy-word-of-the-day type uses, but plain old cryptocurrency. The currency aspect of cryptocurrency really.

It is also working on technologies for smart cards using NFC that will make it easier to spend ARK at in-person venues and not just online. This should give ARK a good boost in terms of adoption if it is able to convince enough merchants to accept payments and enough users to pay using ARK.

The bridged blockchain technology via smartbridge will also allow the ARK team the flexibility to expand its vision for its customers in the future.

If you believe in its vision and see some utility for it down the road, you can invest in its ICO. Do your research and due diligence as always.

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The Value Proposition of ICONOMI

iconomi-value

Note: ICONOMI ICO is ongoing

ICONOMI is generating a lot of buzz, but sometimes the true value proposition gets hidden under all the spam that you see on Twitter and Bitcointalk (to their credit, the ICONOMI team is really serious about not rewarding spam, and I commend them for that). So here’s the value proposition of ICONOMI for investors. Please remember that any ICO investment is risky, and you absolutely should not invest more than you can afford to lose.

Real Business Proposition

ICONOMI isn’t yet another altcoin. It has a real business behind it. Real businesses make profits, have earnings and revenues. Altcoins don’t. Therefore ICONOMI, even though it is a token on a blockchain, is much more than just an altcoin.

Therefore, investing in ICONOMI is very different from investing in all these other ICOs that are going on. You will own a piece of a business that generates profits.

Investor Dividends

There are no cryptocurrencies today that give regular dividends to holders. The first time this was really put forward was with Augur. However, Augur isn’t launched yet. ICONOMI is doing the same with its token – giving monthly dividends to investors. This can be quite variable I know but it is a pretty good value proposition.

If you make a stock market analogy, you get both dividends and capital appreciation (increase in share price). Over the long-term, dividends can be a very important component of returns. In fact, for stocks, they have been the dominant source of returns over >50 year holding period.

Disrupting a Stodgy, Old Industry

ICONOMI is in the fund management business. That’s a multi-trillion dollar industry right there. It is also old and stodgy and hasn’t seen innovation in decades. It is ripe for disruption by a startup. The existing players sit on a gold-mine, and investors are forced to use the existing systems because there is no competition.

ICONOMI has come out of the blue, and is sure to kick the incumbents into action. However, it will likely be too late for them by the time they realize its potential. Fund management is huge. Even if ICONOMI is able to obtain a very small piece of this pie, like 0.01%, it will end up being very large, in the order of billions of dollars. That’s a huge opportunity right there.

Platform Economy

This is a less-often discussed aspect of ICONOMI, but is a powerful tailwind going forward. In addition to the 2 funds – INDEX and PERFORMANCE, ICONOMI will also launch a fund management platform. This will allow other crypto investors and traders to offer their own funds to their clients. It is like a platform that allows anyone, even with $0 in their bank account, to start a hedge fund. Let that sink in for a moment.

We have seen how tech companies that build platform economies can be massively successful. Uber is a $60 billion company. Airbnb is a $25 billion company. Even if ICONOMI becomes a $1 billion company, it will be a huge part of the crypto ecosystem.

So there you have it. These are some of the value propositions for ICONOMI. What other killer features did I miss? Let me know in the comments.

Check out the ICO here

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

Photo Credit: Chicago Man

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ICONOMI ICO Continues to Impress: 15 More Days to go

iconomi-15-days

ICONOMI continues to perform an impressive job at its ICO. Check the latest ICO stats here. At the time of this writing, over $4.5 million was raised by ICONOMI. That’s an impressive number, even in today’s environment when there are so many ICOs that are competing for investor attention and dollars. If you want to be a part of this ICO, you have just about 2 weeks left now until the ICO finishes.

Changes to total Bitcoin raised in ICO

Originally, ICONOMI started with just a floor on the ICO of 2000 BTC. To be sure, that is also a fairly significant number, since very few ICOs will be able to raise 2000 BTC  (about $1.2 million). However, ICONOMI ICO blew past that number very easily in just a couple of days of the ICO being open. There was no cap on the ICO initially, which meant as the number of investment dollars (or Bitcoin) increased, each person’s share kept decreasing.

Listening to community concerns around this, the ICONOMI team decided to put a cap on the money raised in the ICO. This was a smart move, as they show they are willing to learn and change direction for the betterment of their project, aka they listen to the community that is heavily invested in this project.

So the new limits are as follows: 21,000 BTC hard cap on the ICO. Any amount raised over 10,000 BTC will be invested in the ICONOMI.PERFORMANCE fund.

iconomi-total-raise

Right now, the ICO stands around 7600 BTC.

This is a very smart move (although in my opinion, it should be a small percentage even if less than 10,000 BTC is raised) because it gets the flagship fund, ICONOMI.PERFORMANCE off the ground with ready investors – investors that have already shown a willingness to trust the team. This is like a prop-trading account – essentially, a hedge fund investing its own money in one of its funds. That’s exactly what is needed.

So with this one change to the ICO, the ICONOMI project has gotten far more interesting than it was at the beginning. It is not too late for you to invest – here’s the link.

Bounty claim code: ICO3T68g7bnfDVOnqbjlk7ZqdXYnP7fPYNHICONOMI

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Introducing ReturnBit: Proof of Work with ICO

ReturnbitThere are lots of new ICOs at the moment. This usually happens after a few really successful ICOs and then everyone wants to jump on-board (Lisk and Waves in this case). ReturnBit is a bit different from all other ICOs at the moment, firstly by using proof of work (scrypt algorithm, same as Litecoin). Not many new ICOs are using proof of work, instead opting for proof of stake. Also, the number of coins at ReturnBit will inflate, as opposed to many of the other ICO coins that have a fixed supply (mostly because they don’t need to pay block rewards for proof of work).

Secondly, the coin is creating an “rTrust” which will receive 50 coins per block. This is an opportunistic fund that will selectively return these ReturnBits to holders, but does it differently than proof of stake systems. This way, the money is returned to all holders indirectly (as opposed to direct rewards with proof of stake, which many forego because their coins are sitting on an exchange). So you just send some money to the “rTrust”, wait for about a day, and you get more ReturnBit out of this.

The problem with proof of stake’s ‘dividend’ is not so much that the rich get richer, but that many people hold their coins in an exchange and not in their own wallet, thus becoming ineligible for these ‘dividends’.

It is an interesting experiment. We’ll see how the investor returns now and in the future will be for the investors. Should be an interesting experiment to run though. Quite different from the many other ICOs that are ongoing at the moment.

Here are some details for investors:

Bitcointalk forum thread: https://bitcointalk.org/index.php?topic=1596327.0

ICO Website: http://www.returnbit.com/

 

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