The offline and online gambling market continues to grow every year. In 2016, the offline gambling market accounted for 359.3 billion USD, while the online market was estimated at 44 billion USD. It is noted that online gambling is experiencing faster growth (10% higher than offline) and is expected to reach 60 Billion USD annually by 2020. As online lottery has an added value and low market share in comparison to an offline lottery, it seems that this sector has strong market potential in the future.
There are a lot of trust and fairness issues faced by the traditional raffle and lottery industry. Blockchain technology can provide a transparent and trustworthy foundation to solve these problems. Some of the problems that blockchain can solve are the issues with Fairness, Availability, and Regulations.
CRYDE is a raffle based on the blockchain platform, where you can win your dream car with their weekly draws. They are building a completely transparent and decentralized platform for organizing and conducting a raffle using ETH smart contracts and the blockchain technology. This provides the base solution for collecting funds, drawing winning numbers in a truly random way, and paying profit dividends to the token holders.
The system automatically converts every payment from the incoming cryptocurrency to USD in order to secure the weekly prize, their marketing, and operations expenses. As soon as these expenses are covered by sufficient amount of USD, CRYDE will convert the further incoming funds into Ethereum and send it to our profit dividend smart contract.
Tickets will be available from 3$ to 18$ and can be bought with ETH, LTC, BTC, later with fiat currencies too. Every Sunday at 20:00 GMT, a winner is picked by our system using the first publicly available hash code of a bitcoin block.
About Cryde (CRD Token) ICO
- Token Symbol: CRD
- Token Sale Starts: Apr 23, 2018 (09:00AM GMT)
- Token Sale Ends: May 7, 2018 (09:00AM GMT)
- Token Price: 1 CRD = $0.173
- Total Supply: 100,000,000
- Token Standard: ERC20 CRD
CRYDE CRD Token
CRYDE Token is an ERC20 compatible smart contract on the Ethereum blockchain. This means, tokens will be easily transferable between Ethereum wallets, and allows exchanges to smoothly integrate CRYDE Token into their trading system. CRYDE Tokens will be used to buy tickets and distribute dividends among CRYDE Token holders.
For holding CRYDE tokens, you get dividends which are paid each month. Token holders also get voting rights for various things. CRD Tokens will be offered at a price of 0.173 $, with a minimum transaction of 200 CRD. There is no upper limit on the token sale, however, the minimum transaction size for the pre-sale phase is 200 CRD. A total of 100,000,000 tokens will be issued and will be listed within 1-6 months of the end of the ICO.
CRD token prices might be influenced by many different factors. Considering that you can use CRD tokens for ticket purchases at a $2/token rate, and used tokens will be put up on exchanges by us for resale at a minimum price of $2/token, they expect CRD tokens to have a price floor of $2/token.
CRYDE is the next generation of raffle system which is generally more trustable than a traditional raffle platform because of its use of blockchain. However, they are initially offering only cars as the prize. It might not be exciting enough for most users to gain initial momentum. Nonetheless, there is a huge potential to grow in the market and CRYDE believes that they can manage to obtain up to 0.8-1% of the total global online gambling market share. This means ~650,000-890,000 tickets sold weekly.
You can find out more about the platform and its token on their website https://cryde.io/ .