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What Is Quizando?

Since the invention of social media platforms like Youtube, Snapchat, Facebook, Instagram and Twitter amazing people  have been sharing opinions, likes and dislikes, and outstanding content with the world… and steadily growing their audiences.

Some of the lucky ones, have built audiences massive 100+ Million audiences, allowing them to seriously cash in on their celebrity status.

But what about all those amazing content creators on youtube, snapchat, instagram, and twitter who build audiences of 10K, 50K, 100 K audiences?  How do they monitize the hours they put in to making amazing content?

To make any revenue from the audiences they need to work hard at getting endorsement deals, look for related affiliates and constantly promote products or set up a separate business on which they can monetize their influence – instead of focusing on what they do best, which is create amazing content.

And this is where Quizando Live Comes in.  They want to help influencers around the world monitize their influence easily without the need to be a business expert or turning their channels into a constant  adverts.

Quizando Live is where influencers, large and small, get to host their own quizzes in real time via video link.  All of a sudden, people with small, medium or even large social media followings have a quick, simple and easy way to make money from their followers.

Influencers will  be able to easily set up a quiz on any category, promote it to their followers and earn instant money for every player who joins their game.

Project – What is Quizando?

The Quizando project is a state-of-the-art quiz delivery system enabling players to participate in a gaming ecosystem that rewards them with cash prizes.

How’s your trivia?

Quizando pays out cash for players who excel at trivia and quiz games, finally allowing you to put all that random knowledge you’ve accumulated to good use! The project is the first of its kind in the world, and has remained unique in the cryptogaming space since a soft launch in 2017. Quizando now has thousands of active players signing up to the platform every month despite the fact that it’s currently only operating in beta testing mode, a very strong indicator that it could really take off when fully operational.

At the moment there are three types of games available on Quizando: Last Man Standing, Head to Head, and Classic.

Last Man Standing is a fun and exciting quiz in which hundreds of thousands of people can compete at the same time, answering exactly the same questions. As more players are eliminated, tension builds until it’s down from thousands to hundreds, to tens, to the final two players – to the last man standing.

Head to Head is a more social game where players build their own quizzes and challenge friends, family, other users or even complete strangers to a quiz on a specific topic with a specific duration. The more people join, the bigger the pot! That means the more people you can bring into a game, the higher the cash prize is at the end.

Classic mode is the backbone of the platform consisting of simple leaderboard-based games which run for a two-week period and are playable at any time of day or night.

Quizando has been actively developing more game styles and variations which will be ready to go once the platform is upgraded and more scalable. Because the platform has been revenue positive and monetizeda from day one, the project is essentially ahead of the game and in a unique position to dominate the potentially vast but still untapped quiz game market in the crypto space. Watch this space!

Quizando Live

Quizando Live is an exciting aspect of the platform in which influencers will host and live stream their own Last Man Standing quizzes to a live audience of their followers! This enables anyone with a social media following of any size to have access to a fun and rewarding way of generating revenue with their followers while entertaining them at the same time.

Spending hours making videos to garner a social media following doesn’t always pay off like it should in the highly competitive world of social media influencing, and it’s not always easy to get your content out there to your viewers. Quizando provides a fun and engaging way to promote content in a way that followers will enjoy.

Set up a quiz, promote it to followers who will share with their friends who they want to get in on the action. Subscribers are happy because they’re having fun, and influencers are happy because their subscribers are engaging in a meaningful way that earns real money at the same time.

Quizando by itself has proven to be a viable and financially rewarding business model, but the addition of Quizando Live will not only take it to a whole new revenue level, it will change the lives of influencers around the globe.

The relationship between Quizando and influencers is a two way street – as more influencers are attracted to the platform, more players are brought into the fold thus increasing the userbase of the platform until Quizando reaches a critical mass of hosts, players and profitability.

Already on board as a Quizando influencer is the wildly popular Boyce Avenue, the most widely viewed independent band in the world with over 11 million subscribers on Youtube alone.

The Market

ICO Details

Tokens available For Private Placement / ICO:

231,600,000 QUIZ

Hard Cap:

$1,795,000 or equivalent in any ratio of USD/EUR, BTC and/or ETH, (subject to Exchange rate)

Price:

$0.01 or equivalent in any ratio of USD/EUR, BTC and/or ETH, (subject to Exchange rate)

Private Placement Bonus:

75% For the first $ 386,000 contributions. 40% for subsequent $ 579,000 in contributions.

Private Placement:

1st August 2018 to 14th September 2018

Pre ICO:

15th September 2018 to 30th September 2018

Launch of Crowd Funding Event:

1st October 2018 to 30th November 2018

Minimum Private Placement per Contributor:

$6,000 or equivalent in any ratio of USD/EUR, BTC and/or ETH, (subject to Exchange rate)


Token Distribution

24% Token Offer (ICO)

20% Reserved for Development Fund

16% Reserved for Group Liquidity

10% Reserved for Advisors & Influencers

10% Reserved for Strategic Acquisition Fund

10% Reserved for the Team

5% Reserved for Affiliates

5% Reserved for Marketing

Allocation of Funds

15% Operational Expenses

17% Wages

21% Marketing/Affiliates/Influencers

10% New Project Development

23% Quizando Development

14% Initial Capex

Note: The minimum investment is $6,000 or equivalent in any ratio of BTC/USD/ETH/EUR.

Tokenomics

The Quizando token is called Quiz, and it plays a vital role in the Quiazndo ecosystem.

The team states their goal of ensuring that the token has value and is also extensively used on the platform, and that’s exactly the mindset with which the token was carefully designed. The relaunched verion of Quizanfo has an ecosystem designed to pass a huge range of benefits directly over to QUIZ owners. Players deposit and withdraw funds to and from their game wallets both in traditional currencies and QUIZ – this ensures a wider range of users than limiting it to fiat or crypto only.

However, only QUIZ users depositing QUIZ tokens to their game wallets can receive Reward Points which can then be used on exclusive content, which encourages use and adoption og the platform’s native cryptocurrency. Reward Points grant access to special prize games, celebrity quizzes, major prize quizzes, and free turns on selected in-house quizzes.

Throughout the relaunched platform players will be encouraged to buy QUIZ and use it to make their deposits in order to avail themselves of these brilliant bonus features in order to ensure QUIZ is used, valued and appreciated by the community from day one. The total supply of QUIZ is 231,600,000.

Team

The team is a Maltese-based group of experienced entrepreneurs and businesspeople with many successful ventures and companies under their belt which have provided services adopted by the Maltese government and people.

James Calvert: CEO

One of the early innovators in Malta’s digital sector, James was a founder of Findit.com.mt, the first online business directory in Malta, and Untangled Media, a digital services company. He currently holds executive positions with Findit Limited and Untangled Media Limited, and has overseen first stage development and the beta operations of Quizando. James has more than a decade of experience in launching online business enterprises and seeing them through to maturity. He is also a founder of Malta Pass, an online tourism product unique to the country.

Wesley Ellul: CCO

Wesley brings a wealth of digital experience to the table. He has overseen the development and creation of a huge number of websites including the original Findit plus portals for Gozo Channel, Malta Football Association, UEFA, Farsons, Malta International Airport and Avis. He is also one of the founders of Ticketline.com.mt, Malta’s leading ticketing services provider and Big Ticket Events, one of Malta’s top large-scale events organisers and promoters. Wesley will be focusing his attention on community building and management.

The project is active on Telegram, Twitter, LinkedIn, and via their website. You can read the project white paper here and sign up to the whitelist here.

This is a sponsored story.

Remember folks, Crypto is comin!

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Is Mass Detokenization On The Way?

For the last while, the “tokenization of everything” has been a constant theme in crpytocurrency, and it’s had people justifiably excited. I even wrote about it in my Tokenization of Everything post.

We’re now seeing projects democratizing art, real estate, cars, securities, and more, enabling people to buy a token representing the value of any asset you can care to imagine.

Those types of ventures are all still safe – even with buying a token representing highly regulated securities, you’re not actually buying the securities themselves, much like a Bitcoin ETF doesn’t buy you any actual Bitcoin, just an investment vehicle that represents the price of Bitcoin and either pays out or charges accordingly.

The problem comes with other coins that are not, in fact, representing the value of an asset but rather the value and performance of a company or project itself.

Tokenising a house and allowing customers to buy tokens and profit off the increase in the property value? Great.

Tokenising the company running that venture and allowing customers to profit off the increased revenue of the company? Well… that’s pretty much just a security. And it’s a big no-no unless regulated by the government.

DigiPulse Detokenization – The First of Many?

https://twitter.com/zackvoell/status/1025921050020859911

The Digipulse CEO recently announced in a blog that 98% of all tokens connected to the project would be burned. The ICO was a year ago and raised over $1 million, and after very heavy losses the market cap is now at $335,000.

So why ‘detokenize’ now at a massive loss?

The CEO states that because the token had not been used by enough people for its intended purpose (rights to a prepaid digital asset vault) but simply for speculation instead, the project would burn tokens by December 2018.

And that pissed off everyone who had ever bought and caused an enormous panic sell, obviously. The CEO basically killed the project in terms of the token value which immediately plummeted from $0.20 to $0.02 after the announcement that they had no future and would be destroyed.

The service provided by DigiVault is not in any apparent danger, which is interesting – the project is going ahead as planned, but without the token.

While the CEO stated that the users were to blame, many others have been quick to point out that killing the speculative token is a good way to avoid fines and criminal charges from government regulators if and when such tokens are officially classed as securities.

Securities Classifications Could Set Off a Wave of Burned Projects

The SEC has released a cheat sheet on securities classifications called the Howey Test.

In SEC vs. Howey (how we got the “Howey Test”), an investment contract was defined as:

  1. It is an investment of money
  2. There is an expectation of profits from the investment
  3. The investment of money is in a common enterprise
  4. Any profit comes from the efforts of a promoter or third party

Coinsavage wrote an article asking what would happen if tokens were classed as securities, finishing with the following interpretation of the SEC rules:

  1. Bitcoin is most likely NOT a security
  2. Ethereum MIGHT be a security
  3. Ripple (XRP) is PROBABLY a security, but also has the resources to come into compliance
  4. Regulators don’t want to destroy crypto but do want to protect consumers and investors
  5. Coinbase is in the process of gaining a securities dealer license
  6. If Coinbase is successful then the negative consequences of many cryptos being labeled securities would be greatly mitigated (would avoid a mass dump scenario as exchanges scramble to unload “securities” from their non-registered exchanges)

SEC Chairman Jay Clayton said in no uncertain terms that ICOs and new projects would not be given special treatment when it came to regulation. Even though it’s on the SEC to make up their mind and outline clear regulations on what does and doesn’t constitute a security, crypto projects still stand to be retroactively fined and prosecuted, potentially even jailed, if found to have sold securities without a license.

While it seems unreasonable, those are the rules of the game. Execs from crypto hedge fund MultiCoin Capital have stated that half of the top ten cryptocurrencies may well be securities and therefore liable to prosecution.

Seemingly in all the excitement, ICOs forgot that legal compliance might come back to haunt them. Probably there was a general feeling of safety in numbers, but now it seems that the SEC and other regulators are putting the foot down and capable of going after all ICOs found guilty of non-compliance one by one.

So what happens?

Well, mass detokenization is one possibility, though not necessarily one that will completely safeguard project founders from harm if they are found to have sold securities at some point – however, not being in active breach of the regulations would work in their favor and reduce the penalties.

Another possibility is that cryptocurrencies will, instead of being forced to comply fully with existing laws, will be given a lighter touch in acknowledgment of the fact that new tech needs new rules. This is a possibility, but not in keeping with the statements of SEC chairman Jay Clayton, who speaks for regulators in the US and whose influence may extend even further.Finally, there’s the lights at the end of the tunnel – securities licensing and decentralized exchanges.

Coinbase is filing for a license enabling it to sell tokens listed as securities if and when that happens, which may provide a much needed safe haven for those currencies to flee. Of course, ICOs will still have to file for compliance and potentially pay retroactively for having sold securities in the first place, but a place to legally list and sell the token means the difference between a payout with a lot of expensive legal paperwork and simply shutting down hundreds of multi-million and multi-billion dollar projects completely, burning investors and founders alike.

For those uninterested in complying with the government, there’s another option – anonymously established ICOs with tokens listed on decentralized exchanges hosted on the blockchain – uncensorable by the government, unkillable, untraceable if handled the right way.

With no-one in charge of the exchange or perhaps even the project, a token can be classed as a security but leave regulators nobody to prosecute. Consumers would need to trade anonymously with VPNs or encrypted browsers, but it’s a possibility.

Big changes may be coming to the crypto space in terms of detokenisation and reclassification of cryptocurrencies, but where there’s a will there’s a way – that’s pretty much what cryptocurrency was invented for.

Remember folks, Crypto is comin!

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What is an ICO (and how do I know when it’s a good one?!)

Putting money into cryptocurrency projects is a new, exciting, and quite frankly scary method of investing.

Don’t get me wrong, I think the implications of crowdfunding are huge – while before now only accredited investors with a minimum of $1 million in the bank were the only people legally allowed to partake in venture capital funding, tokenized projects allow just about anyone to invest in just about anything. It’s pretty great.

Of course, it comes at a cost. A Wall Street Journal report found that 1 in 5 ICOs were straight up scams, and that’s not to mention the ones that simply don’t have a valid business plan. Most ICOs are going to fail, let’s be real – so how do you know if you’re making a good investment or not?

The answer is due diligence and information, two things that any VC capital firm or accredited investor is very careful about. Of course, the space has been plagued by scams for the exact reason that the general public are less inclined to pursue those things, with a lot of over-eager people vulnerable to predatory marketing tactics aimed at screwing you over and leaving you broke and untrusting of the crypto market.

ICOs explained

ICO stands for Initial Coin Offering. Essentially a new project can seek funding from international investors in the form of cryptocurrency. In return, users typically receive the crypto-tokens attached to the project. The value of the tokens is, broadly speaking, related to the value of the project overall.

Sounds a lot like securities? In some cases it is, leading to regulatory problems and concerns that authorities like the SEC in America might be able to legally shut a lot of crypto projects down.

The saving grace is the definition of most ICO tokens as “utility tokens”, not “security tokens”. A security is a tradeable asset like stocks or bonds. Stocks and bonds represent the value of the underlying asset – an Apple stock is worth a direct portion of the value of the Apple company, plain and simple. While arguably a loophole, cryptocurrency tokens are aimed at being utility tokens – the token doesn’t represent the value of the project directly, but acts as a coupon for services provided by the project.

For example, Ether tokens (which users bought at a discount rate during the Ethereum ICO) allow people to pay the “gas” prices on the Ethereum blockchain, meaning the tokens are used to pay the costs incurred by computers running complex processes such as queueing and executing the commands in smart contracts. The token isn’t just an Ethereum stock, you actually need Ether tokens to operate the platform, reclassifying the tokens in legal terms to safer waters.

So, typically users will send cryptocurrency (often Bitcoin or Ether) to a project and receive a discounted amount of new tokens in return. The project probably converts the cryptocurrency received into fiat currency, and if you’ve made a good investment, they’ll use the funds they raised to develop their project into something that will generate profit, and when the token you’ve bought becomes listed on major exchanges and is a necessary tool used to operate the new project technology, demand will increase and drive up the price, offering you a good ROI.

Or, you know, they’ll take your money and , to let you know that you’ve been truly screwed. That’s called an “exit-scam” (taking the money – not sure what the penis thing is usually called), and they can be avoided by doing your due diligence and having an awareness of what to look for in a good ICO.

Features of a good ICO

Without any further ado, let’s get to grips with exactly what you’re looking for in a good ICO. Before we start, it’s important to remember that community hype and “Fear of Missing Out” or FOMO are two of the main causes of people jumping in to an ICO with their eyes closed. The crypto-community is full of paid shills (people covertly hired to market a project by pretending to be an enthusiastic community member). Shills will flood message boards, and even have conversations with each other for the benefit of others, with one shill being initially skeptical only to be “convinced” by another.

Between forum shilling, fake news stories, and pump and dumps designed to manipulate price and then crash it when enough people have bought in, there’s a lot to be wary of within the crypto community. Don’t trust anyone telling you to buy into a project, just look into it yourself and do your homework. Otherwise you will get scammed, and it will suck.

1) The project has a use case

What do I mean by use case? I mean the project is actually a good idea, and proposes to do something useful that makes sense. This is probably the aspect of due diligence that is most open to interpretation, and it’s best to combine your thoughts on the use case with the other aspects of due diligence, but if a project doesn’t seem like a necessary invention or if it’s simply too complicated for you to understand, pass. There are so many ICOs out there, it’s worth waiting until you’ve found something you’re sure people will actually want to be involved with.

Good use case example: Unibright
Unibright’s ICO is now closed (don’t want anyone to think I’m shilling in my anti-shilling article!), and I personally didin’t invest in it. I wasn’t 100% sure if it was going to be a good investment, but I was sure that the project use case is solid, and that was providing templates for creating smart contracts without having to hire a developer. That’s a smart move for business integration (blockchain devs are expensive), and while it might be a bit ahead of its time as of yet, I think it’s a good use case.

Bad use case example: BitCar
This is just my personal opinion, but tokenizing luxury cars on the blockchain just doesn’t seem like a good, useful idea to me. Regular cars depreciate in value, and while luxury cars can be maintained in such a way that they become more valuable, the process of a company physically buying fancy cars and storing them somewhere so they can sell tokens that represent the value of the car without being classed as a security so that people can own part of each car and hopefully earn money just seems… dumb. Frankly it also seems to be inspired by the lambo meme culture to an extent. Anything convoluted or seeking to capitalize on crypto memes is fun on the surface but not necessarily going to be a good move as an investment – remember, in this case you’re buying tokens, not cars. Speaking of which…

2) The token has a purpose beyond fundraising and a low supply

ICOs are a booming trend right now, with projects suddenly freed from the strict regulations around securities and suddenly free to raise millions of dollars in the almost entirely unregulated ICO space. That’s great – for the projects. It’s obvious why a project would want you to buy their token, but why would you want to buy it? What does it do? It’s crucial that the token has a use case beyond simply making enough money for the team to develop their project. Sure, the funding could help to create a valuable project, but you could be buying into the most valuable technology in the world – it won’t make you your money back unless the token is inseperable from the project.

You want to look for projects that hinge on the value of the token. You’ve heard of whitepapers, the investment documents providing the details on the ICO. Don’t skim the token section – if the purpose of the token is skimmed over or vaguely phrased in the description, odds are it doesn’t really do anything, meaning no-one will buy it, meaning it won’t increase in value after the ICO is over.

Beyond that, it’s good to be aware of the effect that the total supply has on the price. ICOs often release hundreds of billions of tokens in their ICO – the more, the merrier, right? Not really – take Bitcoin, for example. The total supply is 21 million, which is one of the factors that contributed to the price increasing so much. Supply and demand is key here – there are comparatively few tokens, so if people do want them, they becomes rare and therefore expensive. If you’re interested in a project, check the total token supply and compare it to some other projects with valuable tokens. You can do that on coinmarketcap.com or livecoinwatch.com.

3) The project has a good team

This is an area that I see people skimming over sometimes, but it’s absolutely crucial to the success of the project. I’ll keep this short: Check the project description and find out what they’re trying to do. Tokenising real estate? You’re looking for real estate developers with years of experience. Creating a cryptocurrency video game platform? You need all-star game developers on the team. Ask yourself, do the team members have a lot of experience in that area? Like expert levels? If the answer is no, move on.

4) The project has a good website and whitepaper

This is the part that often puts off potential investors. And by that I don’t mean “puts them off from investing”, I mean “people are put off by reading long documents and will just randomly gamble their money away regardless.”

Don’t! Just read the damn thing. Break it into smaller sections if you like, and take some notes. Go over everything on the checklist. You’re looking for a well-written white paper that doesn’t use flashy marketing language.

Note: NEVER invest in something that guarantees returns. That’s a scam, every time. 

The website and whitepaper should have no errors and should look like some time and money was spent on each. The whitepaper should leave no question regarding team, token, or project unanswered. Don’t skip that part – it’s important.

5) The project needs a blockchain

Yeah. Sometimes it just doesn’t.

Don’t get me wrong, not all ICOs are crypto projects, but the vast majority at the moment are, and they run on blockchain technology. Why? What can blockchain do for the project that normal IT can’t? I recommend joining the telegram group of an ICO (usually found on their website) and asking them exactly that. Too many projects are jumping on the ICO bandwagon as a way of making easy money, and a lot of tech projects are being launched that have no business being a blockchain project.

Reminder: a blockchain is a ledger that creates records that cannot be altered. Generally it requires a comparitavely huge amount of storage space to keep the ever-growing amount of data. It’s great for tracking transactions and supply chains of goods, or fighting censorship – it’s not great for centralized projects that require a lot of data storage, for example.

The jury is still out on blockchain even among worldwide adoption, so to say that a project doesn’t necessarily need a blockchain doesn’t mean it won’t make a good investment – but it’s definitely something to be considered.

So don’t just rush into any project that catches your eye. Do your homework.

Don’t want to end up like this guy, eh?

Interested in other cool crypto posts….check out Mining Wars: Bitmain vs Dragonmint and The Price of Bitcoin vs Cost of Mining.

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