VIABET have plans to completely revolutionize the gambling industry by creating a decentralized and transparent cloud betting platform. The unique feature of VIABET is that players have the ability to create their own games which other players can use, essentially allowing the user to become the casino. Read on for our interview with the founder.
Key Information about the ICO:
VIABET will be holding a crowdsale to finance the development of its cloud-based betting platform. We will be offering 49 million (49,000,000) VIA (XVIA) tokens to the general public starting November 14th, 2017 (Pre-Sale). During the ICO you will be able to purchase VIA Tokens (XVIA) using Ethereum (ETH). Purchase of VIA Tokens will be available at VIABET
- Total supply 70,000,000 VIA Tokens will be created. Locked Supply. No Dilution.
- 49,000,000VIA distributed during ICO
- 70% Distributed to ICO participants.
- 30% retained by owners.
- Distribution using ERC20 Ethereum smart contract-standard.
- Price Per Token: $0.34
- 1 ETH = 1000 VIA
- Payouts: Up to 10% of a holders tokens each quarter.
- Dates: From November 14th, 2017 to January 7th, 2018
When did you first get into Bitcoin?
In early 2011 I googled “open source money” because I was upset about the financial crisis and I thought we needed a stateless free currency. I read the description of the Debian bitcoind package (‘…create currency directly on your computer’ or similar) and thought it was obtuse because there was no limit to issuance. Eventually, I read Satoshi Nakamoto’s whitepaper and I walked around in a daze for a few days. I think it will come to be seen as one of the most important papers of the last 100 years. Big ideas in that paper, crystallized. Anyway, I didn’t install the client when I first heard about it because the Satoshi client was Windows only and I didn’t want to install Windows. So I am not a millionaire because I didn’t want to install Windows!
Where did the inspiration for your business come from?
I’ve spent the better part of my adult years as a software developer professional day trader and poker player (Or should I say professional gambler?) I guess you could say speculating was in my blood. I’ve had a group of friends whose main goals in life was “How To Beat The Casinos”. I swear we almost cracked the formula! Then a few years later, with the rise provably fair cryptocurrency casinos we came to realize that most of them are not that “provably fair” after all. That’s when myself and two of my friends starting brainstorming ideas for “cloud betting”. Essentially a system where players could create and launch their own games in an online casino environment. A system where the player had the “house” odds. What’s better than owning a casino? Owning the games inside the casino! That’s how the idea for VIABET was born.
How big is your team? What do they do and what are their backgrounds?
Many ICO’s have resorted to significantly exaggerating or lying about their team members in order to deceive investors. We’re not going to join in on this, so you will not see a team page where we list 50 ex-CEO and PhD members with titles like ‘Chief Executive Marketing Analyst’. There’s currently me and two other people. We’re based in Lithuania. We all have a background in software development, we’re also working with other temporary freelancers, such as those contracted to help with graphics, marketing, legal, etc., which we do not consider members of the team due to their lack of formal affiliation with us. We have three developers, which should be sufficient as this project is much smaller than many modern ICO’s are. We instead hope that our project valuation is based on its market potential, rather than a shiny but deceptive team page. The beautiful thing about the team is that we all grew up together wanting to create the same kind of things, we all have our own strengths and weaknesses that compliment each other, with one goal in mind- change the way the gambling world works forever. An ambitious goal but I never had a doubt that we couldn’t do it!
Can you describe the process of turning your idea into a real business?
We’re offering a service that has never been offered before. The ability to create, launch and host your own casino games is something that’s unheard of in the gambling word. Similar to the way Ethereum created a world running on Dapps. We aim to create a transparent and incentivized cloud betting platform, which I believe, will prove itself to the world by remapping the online gambling industry.
So how does VIABET work?
VIABET acts both as a casino and a platform where users will be able to launch their own games. Essentially, you can choose to play against us or other users. Let’s say you want to create a dice game. Sweet! We can fund your bankroll, use our marketing presence to promote your games and you receive a % of the profits. OR alternatively, you can back the bankroll yourself and enjoy the bulk of the profits while we get a % fee which covers commission for operating, maintaining and administering the plays within the system. It can be a way to earn passive income or if you’re willing to take that crazy walk on the wild side and fund your own bankroll, you can receive major payouts! It’s up to each individual users risk tolerance/goals. While we will offer decentralized sports betting, and a list of our own provably fair games, however, our main selling point is the user created casino games.
Can you walk us through the critical components of your business?
We use a Double-Token-System (DTS). In order for someone to qualify to become the casino, they must purchase and stake VIA tokens, and then play a certain number of game rounds. By doing this, they can earn Edge Tokens which add up to then qualify them to be the casino, rather than a regular player. One of the great things about this is that when someone is acting as “the casino”, they are given the house odds as well. This is going to change the gambling scene and the way online casinos work forever. Verifying transactions over blockchain ensures that no single player holds an advantage at any stage of the gambling process. This provides greater resilience against fraud and prevents manipulation. Transactions on the blockchain are also transparent to others and are therefore verifiable. VIABET will be administering the plays within the platform using our own provably fair algorithms. So just because you’re playing against a regular player, transparency wise, you’re still protected as if you were playing against our own casino. Let me just add that while you have the ability to play against other players you don’t necessarily have to. We’ll have our own provably fair casino games, that regular players who are not interested in creating games will be able to choose from. That’s what we mean by becoming a “one-stop shop” platform for players as well as game creators. Blockchain is just one of our features NOT our main selling point.
What was the greatest challenge you faced?
The fact that people still mistake us for a regular online casino, without seeing the true possibilities and innovations that we bring to the table. We’re not just an online casino. We’re so much more, and it has been difficult to get that message across to people.
What are your future goals for your business?
We’re thinking big. As history shows, most first-movers are rewarded with huge profit margins and monopoly-like status. Our ultimate goal is to become one of the largest gaming platforms in the world. Our goal is to enter the 95% fiat marketplace. Our system is set up in such a way that it overcomes KYC/AML challenges faced by other crypto casino platforms. With that our ultimate goal of becoming one of the largest gaming platforms in the world is not that far from reach. Building fiat gateways and marketing to “normies” is the key. You don’t become a billion-dollar company by marketing to the niche cryptocurrency enthusiast market ONLY.
If you were to start your business again, what would you do differently?
Probably invest more time into advertising- get the word out early and keep at it.
What were the biggest factors in your success? What were the things you did right?
I believe our success is still ongoing. The biggest thing is thinking outside the box, not being afraid to innovate or push boundaries.
What’s your advice to someone who’s considering doing a similar business?
There’s a lot of people who will tell what you can and cannot do. Don’t listen to those people. Do what you believe in and don’t wait for the approval of others.
Aside from your website where else are you present on Social Media and how can people get in contact with you?
We are contactable on twitter, facebook and if you prefer via email -firstname.lastname@example.org
Disclaimer – We do not endorse or are not being paid to promote this ICO.