DraftCoin (DFT) news

21 Mar 2022, 17:40

OK Guys, have some updates on everything and some questions for the community. Due to some of the world issues lately, Simon, being in Ontario, Canada has/is still being affected pretty stiffly. This has affected his abilities to be involved as much as he would like lately. I finally got to speak with him by phone. Here is what we discussed and the potential outcomes. Situation: We made a grand attempt to jump start the project with the agreements and addition of BetSoft games, unfortunately, in the grand problems of trying to move to fast (being the rabbit), we essentially put 'the cart before the horse'. We now had some awesome games, even an agreement to go forward with shared marketing $ in our arrangement. We did NOT have however, a large enough community of players/members like we used to have, nor did we have a verified ticker on CoinGecko or CMC as required by BetSoft for royalty payment calculations. This presented us with a situation where the requirements of BetSoft could not be met in full. For the Market listings, we needed more volume on DFTZ @ Altmarkets / others, and a larger, more active community (like our old one), which would also be shown in some volume, to get CoinGecko to move forward and verify our ticker. CMC is stuck on DFT since Yobit is still showing market and does not gather data from Altmarkets. They have said, that if we can get ticker swapped/migrated @ Yobit and keep our volumes, it should swap DFT to DFTZ @ CMC. The second problem with BetSoft comes in the agreement / royalties that must be paid in order to use their games. It is a shared revenue agreement. i.e. if the casino NET profits $X per month on their games play, we owe them $Y, which is about 15%, if $Y is less that $3500, We owe $3500 per month. In the case of players / games played. The games, on average return 96% of bet monies played to the players, either through winnings, or bonuses, etc. So if $100,000 in bets were made during the month, approximately $4000 would be made by the casino. Of this $4000, we would pay Betsoft $3500 for royalties (NET winnings * 15%, or $3500, whichever is higher), then our bills, etc with the remaining $500. So in that case, at least we would cover the BetSoft bill. But that is using USD$ values. So now lets put that into a little different perspective. If DFTZ is currently trading @ 1DFTZ = $USD 0.10 for example, the amount of DFTZ bets that have to be made/played on BetSoft games to equal $100,000 in play is 1,000,000 DFTZ or more. This again, is of course if DFTZ is valued at .10 $USD, if the value goes up, less bets/plays, if it goes down, more bets/plays needed. So 1,000,000 DFTZ played in a month is not that bad, if we had 100 players playing BetSoft games heavily, its about 10,000 DFTZ of plays per player. Problem of course, is the need of players. We did not have them, nor the community size to pull them from as BetSoft came fully online. Thus in the end, we (BetSoft and us) agreed to postpone the launch until we were capable of meeting the market listing requirement on CMC or CoinGecko, and until we could get our community / players back up to a scale that did not cost personal monies out of our pockets each month as the casino was not able to support the payment. Problems: [Exchanges] Need to add / augment exchanges with larger user base. SouthXchange, fix Yobit, New AltMarkets (on CG already) - In any case, we need trade volume between us / whomever. We can also bring WDFTZ (BSC Wrapped) online, as AltMarkets and SouthX support bridge markets. This opens the token network world. [Market Cap & valuation Sites] CoinGecko - Need steady volume @ AltMarkets + active community and can re-request verification.

OK Guys, have some updates on everything and some questions for the community.

OK Guys, have some updates on everything and some questions for the community. Due to some of the world issues lately, Simon, being in Ontario, Canada has/is still being affected pretty stiffly. This has affected his abilities to be involved as much as he would like lately. I finally got to speak with him by phone. Here is what we discussed and the potential outcomes. Situation: We made a grand attempt to jump start the project with the agreements and addition of BetSoft games, unfortunately, in the grand problems of trying to move to fast (being the rabbit), we essentially put 'the cart before the horse'. We now had some awesome games, even an agreement to go forward with shared marketing $ in our arrangement. We did NOT have however, a large enough community of players/members like we used to have, nor did we have a verified ticker on CoinGecko or CMC as required by BetSoft for royalty payment calculations. This presented us with a situation where the requirements of BetSoft could not be met in full. For the Market listings, we needed more volume on DFTZ @ Altmarkets / others, and a larger, more active community (like our old one), which would also be shown in some volume, to get CoinGecko to move forward and verify our ticker. CMC is stuck on DFT since Yobit is still showing market and does not gather data from Altmarkets. They have said, that if we can get ticker swapped/migrated @ Yobit and keep our volumes, it should swap DFT to DFTZ @ CMC. The second problem with BetSoft comes in the agreement / royalties that must be paid in order to use their games. It is a shared revenue agreement. i.e. if the casino NET profits $X per month on their games play, we owe them $Y, which is about 15%, if $Y is less that $3500, We owe $3500 per month. In the case of players / games played. The games, on average return 96% of bet monies played to the players, either through winnings, or bonuses, etc. So if $100,000 in bets were made during the month, approximately $4000 would be made by the casino. Of this $4000, we would pay Betsoft $3500 for royalties (NET winnings * 15%, or $3500, whichever is higher), then our bills, etc with the remaining $500. So in that case, at least we would cover the BetSoft bill. But that is using USD$ values. So now lets put that into a little different perspective. If DFTZ is currently trading @ 1DFTZ = $USD 0.10 for example, the amount of DFTZ bets that have to be made/played on BetSoft games to equal $100,000 in play is 1,000,000 DFTZ or more. This again, is of course if DFTZ is valued at .10 $USD, if the value goes up, less bets/plays, if it goes down, more bets/plays needed. So 1,000,000 DFTZ played in a month is not that bad, if we had 100 players playing BetSoft games heavily, its about 10,000 DFTZ of plays per player. Problem of course, is the need of players. We did not have them, nor the community size to pull them from as BetSoft came fully online. Thus in the end, we (BetSoft and us) agreed to postpone the launch until we were capable of meeting the market listing requirement on CMC or CoinGecko, and until we could get our community / players back up to a scale that did not cost personal monies out of our pockets each month as the casino was not able to support the payment. Problems: [Exchanges] Need to add / augment exchanges with larger user base. SouthXchange, fix Yobit, New AltMarkets (on CG already) - In any case, we need trade volume between us / whomever. We can also bring WDFTZ (BSC Wrapped) online, as AltMarkets and SouthX support bridge markets. This opens the token network world. [Market Cap & valuation Sites] CoinGecko - Need steady volume @ AltMarkets + active community and can re-request verification.

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