ICO Analysis: Bountie

The eSports industry gets more and more popular every day, and there is plenty of room for new business ideas to help it grow.

Bountie is a blockchain gaming platform that empowers gamers to make a living in the eSports industry by providing a space where people can become professional gamers or content creators while building their network.

The 20-person team, based in Singapore, will start off targeting the Asia market. They identify many holes in the current eSports industry including lack of monetization, limited replay value, no gamer search engine, lack of competition, and a decline in career opportunity.

Bountie’s core product is a bracket generator for organized eSports tournaments. There will be many high tech features including smart contract integration. Here’s a quick summary of each feature (check out the whitepaper for details):

  • Matchmaking algorithm – Takes gamers history, and precise data such as movement speeds into consideration, while matchmaking players with similar skillsets and aiming for a 50-50 calculated outcome of victory for either player.
  • “LinkedIn for gamers” – The storing of gamer profiles on the blockchain. All players gaming history, regardless of what games or platform they play will be easily accessible.
  • Leaderboards- The top 10 players in the leaderboards will receive additional Bountie tokens as a prize.
  • Quest Rewards System – Players earn rewards for doing daily tasks like playing a certain amount of games.

Token

BNTE token has the following use cases:

  • Tournament buy-ins and prizes
  • Gaming leaderboard rewards
  • Promotional and marketing giveaways
  • Earn them with referrals
  • Receive them as rewards from doing Bountie daily quests
  • Rewards for refereeing a game will be taken directly out of the game’s “pot”, scaling from 1% (minimum) to 3% (maximum) depending on the game’s length

There are 5 ways to transact with BNTE

Distribution:

  • 65% Crowdsale
  • 10% Operations
  • 10% Team
  • 15% Advisors

Use of funds:

  • 45% Development
  • 25% Marketing
  • 15% Esports Arena
  • 15% Security & Legal

All unsold tokens will be burned.

The team can’t sell their tokens for 12 months.

Team

Based in Singapore, the team of 20 members and 7 advisors look solid.

Lex Na- Co-Founder and CEO. Was Managing Director for 5 years at The Optometry Practice, a discount contact lens store with 3 retail outlets in Johor Bahru Malaysia.

Darren Lee – Co-Founder and COO. Eight years ago, he founded Fixx Digital, an agency that works with companies like TBWA and SingTel to shape the future of digital.

Jose He – Co-Founder and CPO. Founder of a pet technology startup with more than 10 years experience as a senior business development strategist. Former executive chairman of Speaker & Trainer Association.

Daniel Rajesh- CMO. He was the marketing manager for Auto Desk and Procter & Gamble.

Rennie Sng – Crypto Fund Partner. Former Senior Manager with Citibank. 17+ years global work experience in banking and finance and high tech ndustries. He currently sits on the advisory boards of several VC seeded revenue generating companies.

Partnerships

  • Twitch: Streaming and Esports Arena partner. over 15 million daily users
  • MSI: Their gaming hardware partners. a world leading gaming brand, MSI is the most trusted name in gaming and eSports
  • GoodGameBuzz- Brand Ambassador. Allows members to complete in-game objectives that offer rewards in our virtual currency called Buzz. GGB is coming in as a Brand Ambassador of Bountie’s platform first before a deeper level of partnership discussion continues
  • Kitamen- 20 person team with 10 esports dojos throughout Malaysia. Bountie will come in as a sponsor and try to get Bountie tokens used in their dojos

Verdict

Overall revenue for eSports is expected to reach $700 million this year and then grow to $1.5 billion by 2020. Bountie will primarily target the Asia gaming market, which makes up almost half of the world market. China alone is responsible for a quarter of all revenues in 2017. These projections, however, mean little to token holders unless the Bountie platform gets adopted.

Risks

  • This will be on the Ethereum blockchain, which means it could be a year or more before the platform is fully functioning. -1
  • The eSports industry is really new, and there are already lots of startups and current players to compete with. -1
  • The ease of adoption might not be there with this project. For example, you need referees in order to confirm who wins the tournaments.  -1
  • The best part of this project is their stated partnership with Twitch. However, there is no official announcement on this partnership. When we asked the telegram channel for some sort of evidence, our question got passed along and then dodged. When we do get confirmation, this analysis will be updated. -0.5
  • According to their road map, there’s supposed to already be a demo out of their platform. Their Telegram spokesmen says its still in development and will be out in a couple weeks.– 1

Growth Potential

  • The Twitch and MSI partnerships are huge. +4
  • According to their chief marketer, Daniel, the Bountie website received over 162,000 page views and 53,075 new visitors. Telegram has 17,000 members, and their explainer video received over 300,000 views. +2
  • In the future, they plan to build Bounties’s very own eSports Arena(s) through strategic government partnerships. +2
  • They have several ways of generating revenue. +2

Disposition

The advisors and claimed partnerships, along with the super low marketcap of $4.5 million, is enough to warrant giving this project a deeper look. 5.5/10

Investment Details

Featured image courtesy of Shutterstock.

Author:
Joshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!