2017 was the year cryptocurrency, previously an obscure niche in the tech realm, sparked global mania and became a household term. Over the course of a few months, Bitcoin saw a hike in value from $6,000 to $20,000 (and back down again, though it’s beginning to recover).
People who at the beginning of the year couldn’t even explain what Bitcoin was were setting up Coinbase accounts and scrambling to buy some before it was too late. Meanwhile, numerous startup projects attempted to capitalize on the new crypto craze by holding ICOs for their own coins, raising millions of dollars in revenue.
Cryptocurrency has been called a bubble and likened to a gold rush – but the fact of the matter is it has revolutionized both technology and the financial world, and it’s going to be around for a very long time. And until the crypto markets stabilize, there is an enormous amount of capital to be made on their upward trajectory. And blockchain still has a long way to go before it hits mass adoption – get into the game early, and you have the potential for huge returns.
Gambling and the Blockchain: The Origins of Zero Edge
So what’s one of the most resilient and adaptive industries, a guaranteed money-maker, that manages to thrive in any environment? Gambling, of course! And gambling is far from new to the blockchain – in 2013, over 50% of all Bitcoin transactions dealt with gambling in some way or another. In a somewhat meta move, the ETHorse dapp allows you to actually bet on ICOs. Indeed, some would say investing in cryptocurrency is akin to gambling in the first place, since it’s such a wildly unpredictable market.
Needless to say, the crypto gambling market is a thriving one, and growing rapidly, but it pales in comparison to the online gambling industry as a whole. One upcoming ICO is seeking to take advantage of the huge potential for gains in this sector by applying the transparency and growth in value of cryptocurrency to gambling.
On November 25, 2017, at the Blockchain Summit at Kyiv, the ZeroEdge.Bet startup was officially unveiled to the blockchain world. Their team, a strong cohort built of web developers, analysts, and specialists, have experience across the blockchain and gambling sectors, making them the ideal people to bring the disruption of blockchain to the online gambling market. Together, they conceived of a system where blockchain and smart contracts are put into action to make gambling more ethical, socially responsible, efficient, and fun for everyone involved.
Laying the Cards on the Table
ZeroEdge.Bet is an innovative, blockchain-based online casino that breaks with a long line of traditional casinos, whose profits come from the money lost by players. This model, as it incentivizes fraudulent practices on the casino’s part, is widely unsustainable – who would come to a casino if they know ahead of the time that they’re probably going to lose?
In an unprecedented move that stands to disrupt the gambling industry across the globe, Zero Edge Casino has based its business model on the value growth of its cryptocurrency, rather than on its winnings from games. Thus, Zero Edge is in the unique position to offer online casino games with 0% house edge. This means that players have exactly the same chance of winning games as the house: try getting that deal in Vegas!
And for sports fans, Zero Edge will also offer an online sportsbook, the first of its kind to offer a betting exchange with 0% commission. There, patrons will be able to place bets on different teams, leagues, and sporting events and rest assured that nobody will be taking a cut out of their winnings.
When the Chips Are Down
How is all this possible? Isn’t the idea of a casino that’s not out to get its players too good to be true?
In fact, Zero Edge’s radical business model is fueled by the use of its cryptocurrency, the ZERO coin, to place all bets. In order to play at their online casino, patrons will have to purchase a set amount of ZERO token. The supply of ZERO tokens is fixed at 55 million, so as more and more people learn about the platform and buy in, demand for the coin will grow. And as demand for a finite resource grows, so does its value (in accordance with Metcalfe’s Law). So not only does the ZERO token perform a specific function at Zero Edge Casino, but it also has value as a long-term investment due to its design.
Whether or not gambling is your particular cup of tea, you have to admit Zero Edge’s business model is a sound one. It couples the transparency of blockchain and smart contracts with the high returns of a casino.
And thanks to the economic potential of the ZERO coin, its fair and open odds for players serve to legitimize gambling in a way that no one else has managed yet. Whether you’re interested in investing in their ZERO coin or would just like a cache of tokens to play at their casino, Zero Edge is sure to see a whirlwind of activity in coming months.
If you can’t wait to get your hands on some ZERO tokens at a discounted price, Zero Edge will be holding its early Initial Coin Offering (ICO) on February 28, 2018. To find out more about the project and get details on the ICO, visit https://tokensale.zeroedge.bet
