P2P Sports Betting Platform ZenSports Launches Token Sale Read About it Here: |
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ABX and Kinesis: What’s the connection? Many members of the Kinesis, blockchain and crypto communities already know how precious metal-based currency Kinesis and commodities giant the Allocated Bullion Exchange (ABX) are linked. For those who are unsure, in short, Kinesis and ABX are strategic partners. A REFRESHER: WHO ARE KINESIS? Kinesis is a yield-bearing digital currency based on participants being allocated their own physical gold and silver. With only 24 days left until its ITO, Kinesis is on its way to deliver an evolutionary step beyond any monetary and banking system available today, allowing gold and silver to be transferred to an e-wallet and spent in shops or online via a debit card. Kinesis users can also collect their precious metals from seven locations around the globe. WHO ARE ABX? ABX is the premier precious metals exchange, enabling traders to use their regulated platform to buy and sell precious metals since 2013. ABX is a public company in Australia and have lent their expertise to Kinesis in order to assist in making the monetary system safe and reliable. Kinesis CEO Thomas Coughlin sits on ABX’s board and is instrumental in helping Kinesis to leverage ABX’s vast knowledge base and sector network, aiding in the facilitation of partnerships with external companies. ABX also provide infrastructure, and are an institutional precious metals exchange, allowing Kinesis participants to purchase gold and silver via ABX’s exchange, MetalDesk. PARTICIPATE/GET MORE INFORMATION: www.kinesis.money |
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Company name: ZenSports
Founder(s): Mark Thomas, Karsh Kumar, Etan Mizrahi-Shalom
Headquarters: San Francisco, CA
Website: http://zensports.com/
1. What is your elevator pitch?
ZenSports is a social network for recreation and amateur sports that makes it easy for you to find and schedule matches with other individual players and teams near you, as well as find, register, and pay for leagues, tournaments, pickup games, and social sporting events.
2. Problem & Solution
There are over 52M people in the United States that play in recreation and amateur sports each year, and hundreds of millions of more worldwide. The current landscape for these players is extremely fragmented, and it’s very difficult to find and connect with other players and competitions in order to play and compete. Currently, anyone looking to play a pickup game of basketball or play in a tennis tournament has to use a combination of text, Facebook, or Meetup to find friends or new people to play with. There’s no quick and easy way to find other players in your area that are into the sports you’re into, and that you can instantly schedule a match or competition with.
In addition, there’s no software component with those other products to manage your competitions, such as brackets, match play results, etc.
From a broadcasting and going live perspective, the problem with Facebook Live and YouTube is that your sports live streaming gets lost in all of the other noise that those social networks have. With ZenSports, you know that the live streams that you’re getting notified about are 100% geared towards the sports that people that you’re following are playing. Similarly, when you broadcast your live stream, you know that your audience is 100% interested in watching you play sports. This kind of focus is crucial when it comes to targeted, relevant content.
Lastly, once your competition is over, there’s no central database that exists right now to manage all of the stats, ratings, and record keeping for recreation/amateur sports.
3. Market – your target market and the overall market
Our target market is the 52M people in the United States that play in recreation and amateur sports, and the hundreds of millions of more worldwide. These people spend billions every year on competition entry fees/dues and sporting equipment. It's a huge market.
4. Business Model – how do you make money?
We're not currently charging for our product, since we're a social network and discovery platform for amateur/recreational sports. However, there are several ways that we can monetize once we're ready to generate revenue:
1) Offer a marketplace where players can buy/sell sporting goods, and take 10% of the GMV. There's been an explosion in Facebook groups that allow for buying/selling of sporting equipment. We’ve had several users already ask for this feature.
2) Charge competition directors/organizers 10% of player entry fees and dues that are processed through ZenSports.
3) Charge facilities for helping players make reservations there when scheduling a competition or a match. We can recommend nearby facilities to hold a match or competition, allow the players to pay for a reservation through ZenSports, and then take a 10% cut before paying the facility.
4) Run competitions ourselves and keep all of the entry fees/dues. While it’s certainly more work than being purely a technology company, we would also get to keep a higher percentage of the entry fees/dues (from 20%-25% instead of 10%).
5) Ads. This can take several forms. Directors could pay to promote their competitions locally or nationwide. Sporting equipment manufacturers could accurately target their products to players within a given sport. We can also allow service providers, like coaches or trainers, to advertise their services.
5. Management Team – with titles
Mark Thomas - Co-Founder & CEO
Karsh Kumar - Co-Founder, CTO, & Chief iOS Engineer
Etan Mizrahi-Shalom - Co-Founder & Chief Android Engineer
6. Financial Needs: are you currently looking for investment? Have you raised investment already? If so, who are your investors?
We're going to begin fundraising on September 7, 2017 for a $1M seed round.
We've already raised a $215K Friends & Family round so far. Notable investors include Steven Fan from Tencent and Johnson Juanda - member of the Poker Hall of Fame. Mark Thomas has also invested in the company since he had a successful exit with his prior startup. |
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Click to Play Leading Korean crypto news brand Tokenpost sat down with our very-own Thomas Coughlin, Kinesis CEO, whilst he and the team were meeting with investors in Seoul and presenting the Kinesis Monetary System opportunity. |
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Sports Betting Is NOT Gambling. It’s Skill-Based Click to Read More |
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MBAex partnership amplifies global access to Kinesis MBAex, the largest blockchain assets trading platform in Southeast Asia with over 1.3 million users, has announced a Memorandum of Understanding (MOU) with Kinesis Money. The partnership is in line with MBAex’s vision to promote the use of blockchain assets that are safe and stable in value.
Kinesis Money is an evolutionary monetary system that uses real assets (gold and silver) as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, and the transaction fees accumulated whenever the currencies are sent, spent or traded are proportionately redistributed to Kinesis currency and token holders, incentivising use.
Holders of the Kinesis Velocity Tokens (KVT), currently being offered in an Initial Token Offering, receive the highest share, being 20 percent of the proportionate share of these fees.
MBAex are torchbearers for good governance within the industry, being fully compliant with anti-money laundering laws. Additionally, by integrating best practice from the banking industry, MBAex applies a variety of measures to ensure security. This includes industry principles including two-factor authentication, cool stockpiling and tracking to ensure end-to-end security in transactions. By listing the Kinesis digital currencies on their exchange, MBAex will engage participants looking for options which are both stable and secure.
MBAex also combines the concept of forex brokerage with blockchain asset trading; a powerful combination to encourage a rise in transaction and trading volumes of Kinesis digital currencies. This will allow Kinesis Money to cement its place in Southeast Asia and build on this solid foundation for enhanced global access.
Sebastian-Ionut Diaconu, Chief Executive Officer at MBAexcomments: “MBAex is pleased to announce this MOU, with the aim of delivering a superior stablecoin offering to our client base.
The new Kinesis currencies, KAU and KAG, are representative of physical gold and silver and can even be redeemed as such. With delivery locations for the underlying precious metals behind the Kinesis currencies including Singapore and Hong Kong, we see a great value-add for our clients.
We are also pleased to be discussing with Kinesis the listing of the KVT on MBAex. We see the big potential of the Kinesis currencies and the KVT gives our traders the opportunity to participate in the success of these.
Ryan Case, Chief Commercial Officer at Kinesis Money comments: “The Kinesis digital currencies, KAU and KAG, provide audited, liquid and secure stablecoins, with real-world utility, for traders on the MBAex exchange. This partnership opens up the Kinesis digital currencies to a large pool of new participants, amplifying our access to global markets and showing the continuing interest in and adoption of our currencies.
Bryan Feinberg, CEO & Founder of Etheralabs comments: “we are thrilled to be part of the both the structuring and execution of this partnership as it represents deep value for both companies and the communities each represents.
About Kinesis Money
Kinesis is a monetary system which is based on the traditionally stable commodities, gold and silver. The Kinesis Monetary System allows participants to mint their precious metals onto the blockchain using a bespoke process developed by Kinesis in partnership with Allocated Bullion Exchange, abx.com. Participants can then spend this physical bullion using the Kinesis debit card and the Kinesis eWallet. This system is made safe and reliable by strategic and technical partnerships with an institutional precious metals exchange and others. The Kinesis Velocity Token is a utility token attached to the success of the Kinesis system, providing participants with a 20% share of all the transaction fees generated proportionate to their holdings of the limited 300k supply. Over 60,000 KVTs have been sold to date and are currently for sale to the public at USD1,000/KVT. KVTs are now in the public sale period, ending in March 2019. More information available at kinesis.money.
About MBAEX
Established in Cyprus as MBAEX ONLINE PTE. LTD. (MBAex), MBAex is a cryptocurrency-trading platform which utilizes blockchain technology to manage digital currency transactions. We are a platform that enables merchants and consumers to conduct trading on popular blockchain assets and digital currencies Our Company is comprised of professionals from Europe, Southeast Asia and China, with extensive background and experiences in foreign exchange industry, banking industry, blockchain asset management and other financial technology industry. |
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Using Geon to attract more customers I’ve recently learned of a project that allows you to create ‘Geons’ on your business front. A good analogy for this is a ‘Pokemon Go’ stop, basically in the Geon app there would be a giant floating crystal that attracts every Geon’er in the area to visit the store, and receive coupons to purchase something there.
PPC ads are great for your website… But Geon is quite possibly the future of attracting customers in person, check this out: https://geon.network/
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ZenSports Launches Peer-to-Peer Sports Betting App
PRESS RELEASE PR Newswire
According to ZenSports Co-Founder & CEO, Mark Thomas, there are a lot of problems with traditional sports bookmakers that ZenSports is now solving for with this new product. "Traditional bookmakers only make money when you lose because they're always on the other side of the bet," says Thomas. "So they naturally always stack the odds and terms in their favor. Plus, they only offer certain kinds of bets because they have limited technologies and underwriting capabilities to offer all types of bets both before and during a game. With ZenSports, you're in full control of which bets you want to create and on which terms. And if you prefer to just accept bets that others have created, that's fine, too. ZenSports does not create bets or provide bookmaking services of any kind. Users generate their own content and their own sports bets. Bets are never affiliated with or provided by ZenSports in any way."
Here's how ZenSports peer-to-peer sports betting works:
Anyone can create any kind of sports bet that they want with their own odds, payout, and wager amount. Those bet creators are called Makers.
Anyone that accepts a Maker's bet is called a Taker. Takers can accept the entire bet from a Maker or just part of a bet if they want to wager less than what the Maker is offering.
When the bet is over, the Maker submits the results of the bet outcome. To prevent a Maker from submitting false results, Makers have an escrow fee equivalent to 10% of their bet set aside in case of a dispute by the Taker.
If the Taker disputes the Maker's submitted results, they have an escrow fee equivalent to 5% of their bet aside (to prevent the Taker from submitting false disputes).
If a dispute is submitted, it goes to the marketplace for a vote. The marketplace is incentivized to vote correctly because they will receive half of the losing party's escrow amount if they vote along with the majority of voters. The prevailing party in the dispute receives a refund of their full escrow fee, along with half of the losing party's escrow fee. All bet winnings are paid out accordingly.
The goal, according to Thomas, is to create a fully decentralized sports betting marketplace where no centralized sports book is necessary to create or manage bets. "We think of ZenSports as being more like a trading platform where there are Makers and Takers that are controlling for themselves the price that they want to buy and sell at. The trading platform is just a matchmaking service bringing both parties together. ZenSports is doing the exact same thing, bringing together and matching up bettors from both sides of a bet. There's no reason for some centralized bookmaker to control every aspect of the betting process. We feel our format is much more user friendly."
ZenSports is initially launching its sports betting app everywhere except the United States, Canada, Europe, and Australia. The company is currently working on the legal requirements to begin operating in those jurisdictions. Users in the U.S., Canada, Europe, and Australia can still access its previous recreational sports product.
Coming soon: Cryptocurrency and Smart Contracts Integration
There are several other payment and funding issues with traditional bookmakers, which ZenSports will be solving for in the future as well (but which are not part of this launch). Despite the fact that it's perfectly legal for people to bet on sports, both online and in land-based sportsbooks, many banks refuse to fund gaming accounts through credit cards or wire transfers. This makes funding betting accounts a complicated and arduous task. Even when banks do allow their customers to fund betting accounts, there's often a lag of 1-5 days before the funds are made available, and there are fees associated with credit card payments or wire transfers.
ZenSports will attempt to solve for all of these payment, funding, and payout issues by integrating cryptocurrencies and smart contracts into its app. Bettors may be able to fund their accounts, place bets, pay commissions, and cash out their winnings via cryptocurrencies.
There's also the trust issue that bookmakers won't run off with customers' funds. "Traditional online sports books haven't proven to be trustworthy institutions when it comes to handling people's money," says Thomas. "There have been numerous cases of sports books stealing money, not paying out bets when they're supposed to, etc. And there's absolutely no recourse for users when that happens. With what ZenSports is building, we hope to improve bettors confidence that they can move money into and out of their ZenSports account efficiently, quickly, and without a middleman getting involved."
All of the interactions between bettors and the ZenSports app are anticipated to be handled through smart contracts built on ICON's blockchain, so as to further prevent any centralized party from accessing betting funds or doing anything nefarious with those funds. All transactions are anticipated to be recorded on ICON's blockchain, which has been known to be fair and verifiable. This aims to give bettors a cheaper, faster, and more trustworthy process for wagering on sports than traditional online sportsbooks offer.
"We anticipate ZenSports to be viewed as a fair brand that all sports bettors can trust because we can't be in the middle of a transaction even if we wanted to, and all transactions are verifiable on the blockchain," said Thomas.
ZenSports plans on integrating cryptocurrencies and smart contracts by Q1 2019. In the meantime, users can deposit funds via credit card, wire transfer, or cashier's check.
ZenSports is available for download in both the App and Google Play Stores.
Media Contact:Mark Thomas, ZenSports, 888-688-7767, mark@zensports.comRead it Here: |
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Kinesis Monetary System: Gold and Silver Based Stablecoin Infrastructure Read more Here: |
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Click to View Using Geon for events
As someone who frequently attends events, I’ve recently heard of a blockchain project known as Geon. If you’ve ever attended in-person events before you know it’s painfully hard to stand out in the crowd of people. That’s where Geon comes in, Geon allows organizers to attract users to their booth by creating a ‘Geon’ basically, an ATM in their augmented reality app that rewards people for visiting the booth.
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Click to Play Check out ZenSports' presentation at Acceleprise NYC Demo Day in June 2018 from our Co-Founder & CEO, Mark Thomas. |
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Click to Play In this Kinesis video we cover two key yields that relate to minting the gold and silver KAU and KAG currencies. |
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Click to play Rosse Gates of Alphagrowth interviews Mark Thomas of ZenSports at Epicenter during SF Blockchain Week. |
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Click to play Kinesis CEO Tom Coughlin interviews with Bart Chilton on Boom Bust at RT.com. Kinesis is not just a stable coin, Kinesis is a monetary system based on 1:1 allocated physical gold and silver. |
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Did you know that you can leave a secret message hidden in a GEON?
ONLY those physically present within that GEON’s range will be able to read it. And if you’d like - you can also protect it with a password! 😎 |
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Mark Thomas, Co-Founder & CEO of ZenSports, explained their product to be an in-game and real-time betting DApp for traditional games. Their philosophy is: "sports are more fun when there's money on the line." Click to play |
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New advisory board member
We’re excited to announce a new addition to our advisory team; we welcome Bryan Feinberg, CEO of Etheralabs. Etheralabs is a New York City-based venture lab that invests in, builds, and deploys disruptive technologies across the blockchain ecosystem.
Bryan Feinberg is a licensed investment banker and holds his 7, 63 and 79 FINRA licenses as well as being a prominent figure in the blockchain industry.
With Bryan’s knowledge and experience, he will aim to accelerate growth and lend strategic expertise. His attitude, coupled with the scope of his business insight will be a tremendous asset for Kinesis.
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Coin Interview with Zen Sports
ZenSports is a peer-to-peer sports betting marketplace where anyone can create and accept sports bets with anyone else in the world, without the need for a centralized bookmaker.
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Important Announcement — KVT sale extension  Hello Kinesis community,
Please be advised of an important update regarding the Kinesis timelines and release schedule.
The end date for the KVT public sale and the dates surrounding the Kinesis Currencies ICO have been amended. As Kinesis starts to pick up serious momentum, we have reviewed these dates and made some adjustments in order maximise value and extend the investment opportunity for the wider community and partners involved in the project.
We still intend to release a Beta version for user testing according to schedule, March 18th, 2019.
This will allow for user acceptance testing during the KAU and KAG ICO presale period before we officially launch the public ICO on May 15th, 2019.
With this in mind, we have revised the Kinesis Velocity Token public sale time-frames based around the following three key factors;
1. Currently KVT sales are continuing at a steady rate. Closing the token sale with the current momentum is counterproductive to the level of success that the Kinesis Monetary System could achieve with an extended timeline.
2. In line with the point above, the imminent release of a MVP Kinesis blockchain wallet allows for our teams to have more advanced and detailed conversation with interested parties.
3. As we will be launching the Kinesis Monetary System in mid-March for Beta testing, unless we sell out before this date, it makes sense to keep the token sale running right up until we launch the ICO presale on March 18th, 2019.
The new timelines:
KVT Public Sale ends: 23:59 GMT March 17th, 2019
Kinesis Currency ICO Pre-Sale begins: 00:00 GMT March 18th, 2019
Kinesis Currency ICO Public Sale begins May 15th, 2019
Kind regards,
Thomas Coughlin CEO |
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Former NBA commissioner David Stern hopes to see legalized betting expand in U.S. Play video here: Former NBA commissioner David Stern, a longtime ardent opponent of sports betting legalization, said Thursday that his position has evolved to a point where he now hopes to see legal sports betting expand in the United States.
Stern, speaking to a crowd at the American Gaming Association's Global Gaming Expo on Thursday in Las Vegas, said the notion that gambling will lead to bad things is "outdated." Read the full article here: |
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