Qwin is a crowdfunding game platform that allows participants crowdfund desired items (e.g. phones, tablets, laptops, and even cars). In addition to contributing, however, all participants have the opportunity to make the last contribution and, as a result, go home with the prize.
QWIN ICO Review Highlights
|ICO Platform||Ethereum (ERC 223)|
|Total Number of Tokens (Available for sale)||500 million QWIN (275 million QWIN)|
|Whitepaper URL||Qwinworld Whitepaper|
|Social media accounts URL||Qwinworld Telegram
Let's decrypt Qwinworld Use Case!
What Problem is Qwinworld Addressing?
To make things more interesting for existing customers and attract new ones, many companies across various industries are looking into gamification. Gamification is the application of gaming activities in non-game situations. For example, a luxury perfume store decides to give a 30% discount to randomly chosen customers OR an electronics store runs a campaign to gift free TVs to selected customers. This random choosing of winners has proven very successful over the years, and millions of people steadily apply for a chance to take home the prize—even though the odds are quite long. However, in recent times, questions have been raised about the lack of transparency in the process. How can customers tell that the process to choose a winner was fair? What can be done to ensure fairness?
Qwin attempts to fix these issues by providing a gaming platform that is fair, transparent, and rewards participants using smart contracts. That way, nobody can rig the system and all participants have a chance to win the prize.
Qwinworld Value Proposition
The Qwin platform allows participants to get involved in, and even create their own, games in which specific prizes (either a product or service) are determined by the organizer. To enter the game, contestants must contribute a block (consisting of a predetermined number of Qwin tokens). The participants' contributions are used to fund the prize and when the number of pre-determined blocks has been contributed, the game ends. The participant who contributes the last block in the game ends up as the winner of the prize.
Through this system, Qwin tackles the issue of randomness in gaming systems. For anyone to emerge a winner on any games hosted on the Qwin platform, they must have made the right decisions in relation to the contributions of other players.
Another issue that Qwin attempts to deal with is that of transparency and fairness in gameplay. With the use of blockchain enabled smart contracts, the gaming system is decentralized and no single participant can tamper with the game history. Furthermore, the game's history is made public after the last block is contributed and the prize is won. This means everyone can crosscheck what happened and agree on the fairness of the system.
Qwinworld Leadership Team
The Qwin team is an interesting combination of entrepreneurs and technology experts. Justinas Basalykas is the CEO, co-founding the platform with Marius Rajeckas who also serves as the project's CVO, they are both investors and entrepreneurs with a combined 35+ years of business experience. The CTO, Paulius Grybauskas, has over 15 years' experience in managerial accounting consulting. He has worked with (or for) reputable companies like IBM, Panasonic, British American Tobacco, Nissan, Jaguar Land Rover etc.
Qwinworld Target Market
Theoretically, the prospective market for a crowdfunding gaming platform is quite promising. Small and big businesses seeking to connect with their clients and buyers on a more engaging level will find the Qwin platform very useful. However, it remains to be seen whether providers of products and services will be able to convince their clients and customers to invest in purchasing the Qwin tokens need to participate in the games.
There are other blockchain-based gaming platforms, but none with the exact structure of operation that Qwin offers. Provided the team keeps working to provide a sublime experience for users, and more users adopt the platform, Qwin might well be a gaming platform to watch out for in the not-so-far future.
Qwin already has an MVP and interested parties can try it out here. The project's token sale is billed to take place in the 3rd quarter of 2018 and Qwin aims to produce the first "Qwin millionaire" in the same quarter. Furthermore, they plan to release a mobile app beta and implement on the blockchain in Q1 2019. The full Qwin platform with complete functionalities is scheduled to be released in Q3 2019.
Qwinworld SWOT Analysis
- The solution they aim to provide is different, interesting, and it aims to leverage a popular trend.
- The project has a working MVP.
- Short developmental roadmap. They plan to launch a completed platform a year after their ICO.
- Qwin is not solving a pressing problem; it is more of a vitamin than a painkiller.
- The project's ICO was scheduled for Q3 2018, there are only 30 days left in the quarter and token sale details have not been released.
- No team member with profound experience in the blockchain/cryptocurrency scene.
- If the idea catches on, it has the potential to expand massively.
- They have no notable competition in the crowdfunding game sector.
- Lots of marketing may be needed to sell this idea to the public.
The cryptocurrency scene is currently filled with projects that aim to solve one real-world problem or the other. While Qwin is not looking to do the same, their proposition is no less interesting. Imagine 30 people crowdfunding the latest iPad with all of them are vying to be the one that wins the prize. This activity offers just the right amount of fun and competition that young people are bound to become obsessed with. The question now is, does the Qwin team have enough technical expertise to build this platform? Does their marketing team have enough expertise to attract users? The answers to these questions will determine the success of the platform.
In conclusion, this is a project worth looking out for. As always, however, invest smartly and remain informed on happenings in the market.
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