Recapitulation of MoonBet PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 9th July, 2021
Time: 14:00 UTC
The MoonBet PROJECT team was represented by @Jason_MBET, @Juan and @MBETJohn who judiciously shared with us detailed knowledge and information about MoonBet PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on the MoonBet?
I am Jason Poprawa, the founder and CEO of the Moonbet project. I am originally from Toronto, Canada but have travelled the world over the past five years while working in the iGaming (sportsbetting and casino) industry.
I hold a certificate in Sportsbook Management and iGaming Casino Marketing management, and have served as the Director of Operations for a UK-based iGaming platform in Malta.
I am Juan Porta, the Chief Technology Officer of Moonbet.
I am from Argentina and now living in Europe. I have been programming my own projects since 15 years old and have been working as the project manager for one of the largest IT consulting firms in Spain before we started Moonbet.
In total, we have an 8-person core team that includes myself, a COO, three developers, two marketing specialists, and a business strategist.
We also have an advisor board that includes the founder of FansUnite gaming.
Q2: Can you introduce the MoonBet, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: With Moonbet, we are building the world's first community driven, decentralized iGaming ecosystem.
The critical problem is that currently, owning a casino is essentially limited to billionaires or high-net worth individuals. Basically, you need a lot of capital to start with to start a casino and once they invest it, they keep all the profits.
However, we are creating community ownership for our blockchain-based Sportsbook, Casino and eSports betting platform.
That means that everybody will receive a share of the profits from our ecosystem, which will be received via profit sharing airdrops directly into their wallet.
On the casino side, a major issue lies with the trust of players.
In current solutions, they cannot know if the games they play are legitimate.
Moonbet uses provably fair blockchain techology. That means that players can see the fairness and randomness of all games just by clicking a button.
By offering this trust to players, Moonbet establishes itself as a gaming platform that is fair, honest, and trustworthy.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
The biggest milestones that we have achieved thus far is the development of the MBET token and launching our sale directly from www.moonbet.org
Our ICO Pre-Sale is now live and we raised over $75,000 already!
The next big date on our roadmap is July 21, which is when the ICO full sale will go live.
After that, we have August 15, which is a big day!
This is the day that the Moonbet Sportsbook and Casino goes live.
Players will be able to register and play, which is just in time for the first week of the European football (soccer) leagues.
After that, a major milestone that isn't even on the roadmap is an exchange listing.
As soon as we launched our project and token sale, we were immediately offered listings from four known exchanges. We cannot say too much until everything is signed, but we can say it will happen in the second half of August!
Aside from all these great things coming up in the next 60 days, we also have a long-term vision for the project.
Early next year, we will be launching our own blockchain. This will allow game developers to develop on our blockchain and earn rewards for games we integrate into our ecosystem.
When is the presale ending?
The Pre-Sale will be ending on July 21.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: The most important partnership we have at the moment is with Lion Gaming Group.
They are our partners in developing the Moonbet Sportsbook and Casino, and we have been working with them since March to bring our vision of a premium, blockchain-based iGaming platform to life.
Their CTO is established in the blockchain world and developed one of the first Bitcoin betting sites nearly 8 years ago.
Now, he is using his expertise to assist us on this project for the development side.
Furthermore, their CEO is the founder of www.fansunite.com and shares our vision of decentralized online betting.
We are lucky enough to have both on our advisory team, so they are with us every step of the way.
Another important partner we have are Fast Offshore.
Their founder, Ron Mendelson, is our head of legal.
Not only has he been a lawyer in the world of online betting for 20+ years, he is also knowledgeable and passionate about crypto. It is very rare to find somebody that can put both industries together, so he is making sure that we make every correct move in the regulation/compliance department.
Finally, we have just began working with https://www.wondrgaming.com/
They are connecting us with athletes, eSports gamers, and influencers that can be brand ambassadors on both the crypto and iGaming aspect of our project.
Q5: Finally on this segment, Can you give an overview of your Tokenomics, and the UTILITY of the $MBET Tokens?
ANS: The initial supply of the MBET token is 1,000,000,000. While this may seem high to some, it is because we have a long-term vision for the project and want to make sure that entering the Moonbet community is always accessible to people across the world, allowing for full decentralization.
We have 20% reserved for our Phase 2 and Phase 3 decentralization strategy. Please note these tokens are not LOCKED because we did not feel comfortable restricting access to them for a specified period in case a great opportunity arose earleir than expected.
We have just 5% available for our presale, 15% available for our ICO and then 20% that will be used for our entrace onto exchanges.
We have another 25% that is dedicated solely to the growth of the community, in which Moonbet members can earn more through organic marketing initiatives that drive player acquisition to our platform.
The utility of the MBET token is unlike what people may thing for a betting project.
Instead of using them in the casino, we encourage our community to hold.
The MBET tokens entitle holders to a share of the profits from the Moonbet Sportsbook and Casino via BUSD airdrops into their wallets.
This means that they really are like an owner of the casino because they are earning a portion of the profits.
We also included a staking mechanism, which will be live in two weeks.
Holders can stake to earn more MBET tokens until the launch of the casino, and of course after that too.
2nd Segment: LIVE Questions
Q1: One of the biggest reason that many people Don't like decentralized’ iGaming platforms because Most ‘decentralized’ iGaming platforms do not use the same principles that make traditional online sportsbooks and casinos attractive to players. Can you guies provide us the same experience that we get from traditional online sportsbooks and casinos?
ANS: This is a fantastic question, Don!
I myself have been in the world of online betting since I was legally allowed (over 15 years now!) and I couldn't agree more with your assessment of current 'decentralized' iGaming platforms.
Currently, the projects in the space are overly-decentralized to the point where they have nobody running them. This means that they lack marketing, client support, innovations, bonuses, and everything that makes a traditional platform so success.
With Moonbet, we are decentralized in the manner of distributing the profits and with phase 2/3, of building all the payment processing, data feeds, etc. that we need within our ecosystem.
However, we will still use all the same principles that make iGaming platforms work. I myself have been the Operations Director for an innovative yet more traditional format in the past, so I know what works with bettors in different markets.
We will have 30+ sports, in-game betting, 1000s of markets, a wide range of casino games, and all that other sites have. Except, we do it on the blockchain and allow players to bet with crypto.
Q2: In terms that can be easily understood by newbies in the iGaming sector, can you explain what it means to run a "Provably Fair Casino"? Going further, how many Casino games are currently available on the Moonbet Casino? Finally, what are the currently supported Cryptocurrencies that one can play with in the Moonbet Casino?
ANS: Provably Fair is the most important element of our casino, so I will break it down in a means I hope everybody can understand.
You know when you go to a casino, sit down at a blackjack table and watch the dealer shuffle the cards right in front of you?
Well, you feel confident in playing because you know that you have witnessed the randomization of the cards that are about to be dealt.
However, if you have ever played on an online casino, you know that you can’t see the shuffling. You can’t know the cards are random. You simply have to put your trust in the casino owners.
Provably fair gaming includes an algorithm that can be instantly verified by players for fairness and offers complete transparency as to the randomness of any game.
Using an open source algorithm for random seed generation, number generating, and hashing, players receive all the information they need before the hand is played to understand that the game is being offered in a fair manner.
Luckily, I have a picture here to demonstate it.
As you can see, there is all the information about the hand of blackjack available for the player to view at any time. Thus, proving that the hand is fair!
Q3: The amount of revenue generated by casinos and betting platform depends on the number of users, what are your marketing strategies to attract more users to your platform.?
ANS: The Cost-Per-Acquisition or CPA is the whole foundation of a casino's success.
I hold a Certificate in iGaming Marketing and have worked for several years as an affiliate operator to drive new players to sportsbooks and casinos around the world.
We will of course be using a strategy of athlete/team partnerships to maximize brand visibility, influencers, and affiliate referrals to drive players.
However, we are also planning on leveraging the Moonbet community for organic marketing. As you know, crypto projects have incredibly loyal and enthusiastic followers.
By building a Moonbet community of holders that have an interest in the success of the platform (via the profit sharing), they have incentive to organically market online. Not only will this drive new players, but it will minimize the CPA and allow us to reach people in countries with stricter gambling-related advertising regulations.
Q4: I learnd Moonbet allows holders to receive 50% of the profits from the Moonbet Sportsbook & Casino. The other 50% is reinvested to build an unmatched player experience. So what's your profit in it? How you guies will get benifited? And without benefits how can we trust you guies to run the project so long?
ANS: This is a very important question.
First of all, the team will be receiving 10% of the token share. Divided between us, it means that I will hold a 2% stake of the total tokens and the other members will each have 1%.
While it may not be the 100% or even 50% that traditional casino owners hold, it is a significant value if that project is successful. Simply put, if you gave me 2% of the holdings of any successful online betting platform, I would be very happy!
So, this coupled with the fact that we will be receiving profit sharing airdrops just as the rest of the community will, means that we have a huge incentive to make this project work. The better the project goes, the more we (and the entire community) will earn.
Q5: Another facet relates to the security measures that are needed when gambling. How does MOONBET fully ensure that the legal gambling age is respected and to ensure that gambling is not illegal in the place where the user resides. This may increase the risks of lawbreaking and money laundering.
ANS: We take all regulatory and compliance issues extremely seriously.
Our legal partner has 20+ years of experience in iGaming and is ensuring that everything we do is in accordance of the laws in the countries which we will be reaching.
The Moonbet Sportsbook and Casino will be fully licensed by the Curacao Gaming Control Board, which takes security very seriously. We have to undergo comprehensive security checks to make sure our systems are 100% safe before the launch and will have regular inspections.
With Moonbet, you can be sure that we support all initiatives related to Responsible Gaming, Underage Gambling, and player safety.
Follow Us On Our Various Social Media Communities For More Update;
https://www.moonbet.org/ —> Register for the Pre-Sale and buy today for a 50% discount!
https://www.moonbet.org/doc/Moonbet%20Whitepaper%20v2.2.pdf —> Moonbet Whitepaper
I just want to thank everybody for the AMA. There were so many great questions and unfortunately I could not answer them all right now.
Please come join us at t.me/moonbetofficial and I will be happy to answer anything else you would like to know!
Thanks again and I hope you all join the decentralized iGaming revolution!!!
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