Our philosophy towards the QuizBeat blockchain aspect is to mix best of both fiat currency as well a cryptocurrency world together to create potentially the first mass market consumer product which promotes upsides of a token to millions of customers.
Design for mass market & the average Joe
- Gaming activity, jackpots, prizes need to be in fiat currency to be easily understood by the average Joe and to allow simple deposit and cashouts. This does not mean that there can´t be games with the token being used as a buy-in or prize pool but simplicity demands fiat highly visible.
Use blockchain technology where it really makes sense
- We are a platform for different games, both new innovations we invented as well as existing games such as casino.
- Some of our own games will heavily rely on smart contracts and our token such as our decentralized Live Trivia Game whilst other games such as the Sport Quiz don´t need smart contracts or will be moved on-chain when blockchain scaling becomes a non-issue.
- We will release more innovative games on the platform which require further smart contract usage over time.
Maximize Token visibility and token demand
- Independent of any token utility within a specific gametype, all games are tied together under a central VIP treasure chest system. If a player plays a traditional casino game such as roulette, his gaming activity will always lead to earning treasure chests with a very high token utility.
- We take learning from free to play games as well as poker & sportsbetting VIP systems to achieve a high visibility and high demand for token usage. VIP customers will get higher rewards/rakeback using tokens similar to how Binance is leveraging their token usage.
The QUIZ token is designed with the goal to make it a highly visible and heavily used utility. We combine learning from various other industries into the QUIZ token.
Play with QUIZ tokens
Players are able to use the QUIZ token as a buy-in for non-fiat games. We will incentivise the usage of the QUIZ token with better rewards in comparison to fiat. Fiat currency as a start is important for TV advertising, conversion rates and ease of use of the platform as a starting point.
High visibility with Extra Life
Players can gain significant value in buying an Extra Life in our trivia game show to continue playing after a single wrong answer.
Twitch style donations with additional benefits
Participants can donate QUIZ tokens to live game show streamers like on Twitch. On top part of the donation is automatically being added to the price pool of the game show. Thus, both the host as well as all participants benefit from any QUIZ donation.
Free-to-play monetisation incorporated
Free to play games, especially on mobile are using virtual currency to monetise their products. They encourage players to buy virtual currency to save time or progress faster. We took this mechanic and incorporated it into unlocking treasure chests.
Increased rewards for VIPs
We know from the sportsbetting & especially poker industry, that the majority of revenues are generated by high volume players. These players are very price sensitive and seek for the best VIP rewards. Our treasure chest reward system provides more cashback when QUIZ tokens are used to boost it. This is similar to the successful Binance “save fees” BNB token approach.
Escrow to ensure game integrity
QUIZ tokens are necessary as an escrow to increase game integrity. Game shows price pools are guaranteed, game show hosts or Oracles might need to deposit tokens into escrow to prevent wrong-doing.
Token Demand Generation
Our business model is to create a solid mass market product, attract tons of customers and maximize visibility & usage of the QUIZ token to these customers.
Mass market marketing focus and user growth
- Product designed to provide the average Joe a great experience (read more about game design decisions in our white paper).
- High virality and user growth due to social Sport Quiz with Friends and decentralized HQ Live Trivia Game Show.
- High lifetime values via gambling in regulated markets for high marketing ROIs.
- Fiat currency approach.
- Entering American and Asian markets legally as skill game.
Maximize visibility of QUIZ token to customers
- Everything you do on platform and every game you play leads to a Treasure Chest reward with high token utility.
- Game specific features such as buying Extra Lives or tipping game show hosts similar to Twitch works only with QUIZ tokens and is highly visible to all players.
- Small amounts of tokens will be rewarded in promotional activities and treasure chests to ensure all players experience the utility upsides.
Maximize QUIZ token usage
- Optimize for number of players using token with recreational player friendly utility such as buying Extra Life or unlocking chests. Taking proven models from free to play industry.
- Optimize amount of tokens being used by providing clear monetary incentives targeting high volume players/VIPs such as increased rewards/cashback. Experience shows that majority of revenues are being generated by VIPs/whales which are also price sensitive for VIP rewards. Our treasure chest system ensures that even a pure casino player on our platform would be incentivised to use tokens to receive higher VIP rewards playing on our platform creating token buying demand.
Token Name: QuizBeat Coin
Token Symbol: QUIZ
Token Type: ERC20
Total QUIZ Token Amount: 1,600,000,000
Hard Cap: $10 million
Price per QUIZ Token: $0.025
35% (560,000,000) including bonuses will be distributed in the Token Generation Event.
18% (288,000,000) go into Rewards & Marketing to be used to promote and grow the platform.
15% (240,000,000) go into Strategic partnerships such as exchanges and market makers.
15% (240,000,000) will be rewarded to team members. These tokens will be locked and are subject to at least 12 months vesting.
14% (224,000,000) go into Reserve fund to cover perks as well as further financing such as jackpots.
3% (48,000,000) will be rewarded to advisors and vest over 24 months.
Usage of Contributions
Jackpot funding (38%) initial jackpot funding.
Platform development (20%) to develop a revolutionary platform with unique features.
Acquisition Marketing (17%) to drive traffic on the platform.
Operations team (12%) to run the daily operations for our valued customers.
Legal costs (7%) to cover all necessary compliance, security and gambling licenses.
War chest (6%) that allows us to cover any contingency costs or pursue opportunities for faster growth.
Reasons to contribute
Be part of the next PokerStars, DraftKings or Betfair creating an entirely new gaming category offering innovative new games.
Mass market consumer facing product with strong incentives for utility usage and wide distribution of token benefits.
Revenue focus with high Lifetime Values & retention.
Outcompeting sportsbetting in regulated markets with the introduction of a jackpot up to 10,000 times the buy-in.
Ability to build legal (similar to DFS) skill gaming brand in USA before upcoming state by state sportsbetting regulation.
Utility token usage scales with revenue growth via a reverse Binance token model in treasure chest VIP system. Majority of revenue generated by VIPs who require tokens for higher cashback rewards. System works across existing & future games.
ROI positive performance marketing due to support of fiat currency.
YouTube like game shows are a tool for influencers, companies and existing communities to engage, retain and monetise their existing userbase and for us to acquire new players.
Providing other ICOs ability to run game shows as alternative to airdrops. This keeps us relevant in the crypto community.
Token Sale gamified with a task point system to incentivise word of mouth and hype with first jackpot airdrops called „Airpot“.