U Run It (URUN) ICO Review – ICO Token News
At the beginning of 2017 online gambling market was evaluated at $44.16 billion, by the end of the same year it grew to $47.4 billion. Estimated market capacity in 2018 is $52 billion and it’s expected to reach $81.7 billion by 2022. It is obvious that the market has an immense potential. The problem, however, is that the rules of the gambling business have remained unchanged for centuries. No doubt, casinos and other providers constantly try to attract new clients with new gimmicks: rewards, bonuses, prizes, beautiful images, etc. Technologies change as well: from simple wooden tables and slot machines, to online games, and newest block-chain technology. In reality, it does not matter what technology is used or what gimmicks are used to attract gamers to the casino. The core of it is still the same and quite simple: no matter what the clients do, the casino gets everything. Those who don’t gamble themselves take everything from those who are passionate and like a good game. They take everything and get excess profit. Also, based on our surveys, casino customers are very venturous people who are constantly looking for action and novelty. They get bored very quickly, and have to move from one casino to another in continuous search for some diversity. It is time to change the game rules in the Gambling Universe.
Cryptocurrency market has been rapidly growing for the last few years. According to the CoinMarketcap portal data, cryprocurrency market capitalization at the end of 2017 amounted to about $600 billion. Although, the price of individual crypto-currencies is subject to significant fluctuations, crypto market capitalization in general has been constantly growing. Also, it is important to remember, that blockchain technology, the basis for cryptocurrencies, is still far from perfect and keeps developing. However, one thing we can be absolutely sure of: cryptocurrencies, as well as blockchain technology, are firmly embedded in our life, and this technology has tremendous potential.
Gambling market has obviously reached the dead end. Of course, casinos try to spend more money, use new technologies (such as blockchain) and come up with new gimmicks to attract and retain new customers, but they are not very successful at it. The only way out of this situation is to change the basic principles of the casino operation. How is it possible? It’s very simple. The solution is an entirely new type of casino, the casino managed by the players, who host all the games. In other words, absolutely all games, card tables, poker rooms, tournaments, slot machines, lotteries, etc. in this casino are controlled by the players themselves. Each game is hosted by a certain player. This player determines parameters of the game or tournament he is hosting and becomes the owner of the game for the time being. Let’s say, each game is leased to one of the players for a nominal fee. It can be leased for an hour, a day, a week, or a month. During this lease, the owner of the game not only monitors what is going on, but also performs basic functions of a moderator. At the end of this period, the owner of the game receives most of the profit generated during his lease. A small share of revenue will go to the casino to cover the expenses for the maintenance of the platform, its further development, as well as allow a little profit for the owners. We are convinced that the company owners’ profits should not exceed 10% of revenue. Another highlight is the possibility of holding auctions among gamers.
UCoin as an internal gaming currency
UCoin chips are used as the main game currency within the platform. This sets the common currency standard within the platform. UCoin may be considered an analogue of regular casino chips. Conversion to/from UCoin will be necessary to deposit or withdraw funds. The rate of one UCoin is 1 ETH = 50000 UCoin. The rate of other cryptocurrencies and fiat currencies to UCoin will be determined by the current market rate of ETH. The rate of the URUN token will be determined by the market after the release of the token to the stock exchange.
We use classic client-server technology to launch the platform. The reason we do not use blockchain to create a fully decentralized platform is quite simple. So far, there is not a single blockchain platform that would allow millisecond transactions for data transferring. Moreover, any transaction in the blockchain is by no means free. A large number of transactions with a lot of data will make it very expensive – the cost of the project will exceed any revenue it might generate. Of course, the concept of a fully decentralized platform has many advantages, but we will be able to implement it only after a new generation of blockchain platforms, eliminating the shortcomings of its predecessors will replace the existing ones.
The goal of the campaign is to achieve a Soft Cap of 4,000,000 URUN tokens. A total of 80 million tokens will be emitted. Maximum number of tokens during the public sale stage will be 75% of all the emitted ones, which equals 60 million. The base price of one token is 0.00125 ETH (1 ETH = 800 URUN). Unsold tokens, emitted for sale during Closed pre-Sale, pre-ICO and ICO campaigns will be distributed proportionally among those who bought our tokens during pre-Sale and ICO stages. Tokens reserved for founders will be frozen for 2 years from the end of the ICO campaign. Tokens reserved for the team members will be frozen for 1 year from the end of the ICO campaign. To know current trend of ICOs, you can check ICO stats.
- Lyudmila Vasilyeva(Lead Mathematician)
- Maria Sokolovskaya(Copywriter)
- Liudmila Ivashchenko(Photo and Video Producer)
- Irina Kolkova-Grushkovsky(Strategy Development Manager)
- Shay Dvir(Chief Technology Officer)
- Nikita Yeryomin(Development Team Leader)
- Anna Thais(UI/UX Senior Designer)
- Amit Bhagwat(Performance Test Analyst)
- Yevgeniya Bayura(Web Developer)
- Sergey Dobryak(Back-end Architect)
- 1Q3 2017
Market research. Design and
development of "U Run It" platform
concept; forming the team.
- 2Q4 2017
Confirmation of the players
interest in the platform .Beginning of the
platform development .
- 3Q1 2018
Preparation for public sale
and developing a smart contract.
- 4Q2 2018
Tokens closed pre-Sale .
- 5Q2 - Q3 2018
ICO stages (pre-lCO, marketing campaign, ICO)
- 6Q3 - Q4 2018
The token is emitted to
major crypt exchanges.
- 7Q3 2018 - Q1 2019
Obtaining all the required
and registrations .
- 8Q3 2019
Release of Alfa-version of the platform
and the beginning of active testing
among players. Alpha version allows
deposits and withdrawals only in
cryptocurrencies and URUN tokens .
- 9Q4 2019
Release of Beta-version of the
platform, signing contracts with
game developers. Integration of
deposits and withdrawals
in fiat currencies .
- 10Q1 2020
Launch of the platform with basic
set of games and its release to the
European market. Start daily,
weekly and monthly jackpot drawings
- 11Q2 2020
Updating and expanding
the catalog of games.
Release of the platform
to the Asian and US markets.
- 12Q3 2020
Release of the mobile version
of the platform for iOS & Android
and incorporation of casual
games and games of skill .
- 13Q3 2020
Integration of games from
Beginning of eSports platform
development and its integration
into existing infrastructure.
- 14Q4 2020 AND BEYOND
of the platform and increase
of its market share in the
Game catalog transition
to blockchain .