E4ROW Ether for the rest of the world ANNOUCEMENT
As you may know, the E4ROW crowdsale is close to its minimum funding goal and has just over a day to go. We want to thank all who have contributed their time and energy, and have advocated so strongly on our behalf.
This ICO is incredibly unique in that it was done as a true grass-roots effort without the normal hype and PR that accompanied other ICO’s of late (https://medium.com/e4row/can-an-ico-succeed-today-without-massive-pr-and-hype-730ffef8d9af).
E4ROW can boast finished, debugged, working code, a first game already released to the public (Uncle Finney’s Poker for Android), and dividends already being paid out to token-holders via an escrow fee charged on each gaming transaction. Uncle Finney’s Poker now appears in the SlideMe app store (http://slideme.org/application/uncle-finney-s-poker) and the team is working hard on getting into Google Play, Kindle, Fdroid and other stores.
Success When we started the E4ROW project, Ether was only trading at around $50, and so our min cap was set to 5000 tokens with the idea that with a minimum of $250,000 of capital, we could continue on our mission to introduce Ether to the world through our online/mobile games. As of this writing, E4ROW’s contribution campaign has raised over 3200 Ether, which thanks to the run in Ether’s price, is today worth over $400,000. This far surpasses our minimum funding goal in dollars and represents a huge success for us.
However, in the token contract, we unfortunately coded our min cap threshold in Ether rather than dollars, so even though we have far surpassed our minimum funding goal in dollars, we have yet to hit the contract’s min cap of 5000 Ether. This presents a huge opportunity for late investors.
Our Loss=Investor Gains We will be the first to say that our ICO strategy didn’t work out as planned. Our hope was that by diverting all our resources towards creating working software, we would not need the hype, marketing and PR to make a big splash on the ICO market. We were wrong. While we got an incredible showing among the programmers, techies and small investors who heard our story, E4ROW never even got on the radar of the big whales and institutional investors. This small number of tokens minted is where the opportunity lies.
Opportunity One of the most attractive aspects of E4ROW as an investment, is the ongoing token-holder dividends that are generated by every gaming transaction. Every ‘pot’ that is awarded at the end of an E4ROW game charges players a 2% escrow fee that is divided proportionally among the E4ROW token-holders. Our first game, Uncle Finney’s Poker, is already being played aggressively:
In just a few weeks, over 2400 games have been played and over 100 Ether escrowed.
When we originally designed the dividend payout structure, we assumed anywhere from 100,000 to 200,000 tokens being minted, as we had high hopes for our ICO. Now, due to our ‘under the radar’ ICO, it looks like it will be closer to only 5000 tokens minted. After the ICO, no E4ROW tokens will ever be created. Therefore, these 5000 or so tokens will share in the escrow fees generated by all E4ROW games in perpetuity, representing a far larger return per token that if we had minted and sold more.
Uncle Finney’s Poker is already performing exceptionally well, and this is without any advertising or marketing. Once we get our ICO over the line, we can begin marketing in earnest and continue our work releasing more games that will add to the token-holder returns.
With just over 1 day to go, we see this as a huge opportunity for investors to get in on what we believe will become one of the most hotly traded tokens in the world. To contribute, goto https://www.e4row.co.il/contribute, or to read more about the project, check out the E4ROW blog and website below.