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Author Topic: Bitcoin-Powered eSports Startup Seeking Seed Funding  (Read 1365 times)
Emerge
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July 04, 2015, 06:00:03 AM
 #1

Hello, I am representing the Crypto eSports League or the CSL
We're seeking seed funding to accelerate the development of our start-up.

Our plan is to create a Bitcoin-Powered top class online gaming league serving as a breeding and proving ground for aspiring professional
players, whilst bringing online gamers from around the world together to live the dream. The CSL will facilitate events
to ensure safety and fairness amongst each player, to keep the competitive feel throughout the season. In the end, the
players will play against each other to win the title of CSL Champion and win Bitcoin pot.

We are already undergoing developments, as you can see from our Project Developments thread here:
https://bitcointalk.org/index.php?topic=1103143.0

Sources of income is:
1. Advertising (In-Livestream Advertising, Mentions, etc.)
2. Tournament Registrations
3. Finding more ways through further discussion


Our Whitepaper:
https://docs.google.com/document/d/1XLpMzM2m_vOWtqcq-rjsB8_FNiQqb2B3ALgHVLfzNkg/edit?usp=drivesdk
Our Twitter:
https://twitter.com/theCSLOfficial
Our Slack (Request Invitation):
https://btcleague.slack.com

Regards,
JM Erestain
Crypto eSports League Founder & Project Manager

Contact info:
Cellphone - (+63) 906 257 7413
Email - jenerestain@gmail.com

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July 07, 2015, 02:57:07 PM
 #2

We're releasing 10% of the company's shares to public.

We will be using Colored Coins for our shares.
https://www.coinprism.info/asset/AXriWkKxJB8MFRkxMfyDdW1kxXMs5sp2ko

CSL.SHARE total 100,000
Each CSL.SHARE is equal to 0.001% of CSL

We're selling 10,000 CSL.SHARE
Each CSL.SHARE is 0.01 BTC
Minimum of 10 CSL.SHARE to buy

ESCROW: Master-P

Shareholders: https://www.coinprism.info/asset/AXriWkKxJB8MFRkxMfyDdW1kxXMs5sp2ko/owners

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July 07, 2015, 03:18:19 PM
 #3

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512

I will be holding the IPO funds in escrow for the following IPO: https://bitcointalk.org/index.php?topic=1108413.0

Any interested investors can send BTC to the following escrow address controlled by me: 1FfYMdk29LyBNTpY8wgphvyi7rwGFm514R

Important Notes/Instructions:

1) Only send BTC from an address you fully control where you can sign a message from to prove ownership

2) If you cannot send BTC from an address you control then please contact me to generate a private address for your investment. The address will come with a message signed by my PGP key.

3) Once BTC funds are sent via either of the two options above, please PM me with the txid and your address, as well as total number of shares bought.

4) I will forward these details after verifying and confirming the transactions to Emerge, the representative of Crypto eSports League (CSL). Emerge will release shares to you via colored coin protocol.

IPO funds will be released to Emerge once the all investors have received their shares by the end of the IPO phase.

Feel free to contact me if there are any questions about the investing procedure. Any other questions regarding the project should be directed to CSL's representative Emerge (https://bitcointalk.org/index.php?action=profile;u=521242) via the appropriate channels.

Escrow by master-P: https://bitcointalk.org/index.php?topic=932294
-----BEGIN PGP SIGNATURE-----
Version: Keybase OpenPGP v2.0.20
Comment: https://keybase.io/crypto

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Master-P's Free Escrow Service | 1% Fee for Multi-Party/Sig Campaigns | I Sign ALL of my addresses using PGP Key: https://keybase.io/masterp Verify
Tipping Address: 14PUWBwK854GLenxSa7MAuxXQUXK4DKKi5 | E-mail: masterp.bitcointalk {at} gmail {dot} com (for when/if the forum's offline)
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July 08, 2015, 05:48:32 PM
 #4

Okay so...
I like your concept and so I feel obliged to help you out (with a very short advice) a little since it seems this is your first project. I work with start ups IRL.
You are asking for 0,01 a share, that means your market capitalization is 1.000 BTC that is 270 200 USD.


Well right now this represents 3 pages of Word text, 4 people and a twitter account with 18 followers. Any idea by itself has 0 value. What matters is execution.
Your market cap. might be close to 1.000 BTC when your yearly sales (not net profit) are at least around 80k a year, you have a steady influx of new customers (players) and find yourself beyond reaching the critical mass.
Right now I (and any sane person) would not pay 100USD for 50% of your company. I wouldnt even pay 100USD for 99%.

In this phase, there is absolutely no need for any capital for you. First get the site running (from what I understand some of you are developers), do alpha testing. Try to expand a little, if things go well the investors have something to catch and you might actually have a use for the funds.

Your offer right now is seriously beyond ridiculous

gl

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July 09, 2015, 02:19:20 AM
 #5

Okay so...
I like your concept and so I feel obliged to help you out (with a very short advice) a little since it seems this is your first project. I work with start ups IRL.
You are asking for 0,01 a share, that means your market capitalization is 1.000 BTC that is 270 200 USD.


Well right now this represents 3 pages of Word text, 4 people and a twitter account with 18 followers. Any idea by itself has 0 value. What matters is execution.
Your market cap. might be close to 1.000 BTC when your yearly sales (not net profit) are at least around 80k a year, you have a steady influx of new customers (players) and find yourself beyond reaching the critical mass.
Right now I (and any sane person) would not pay 100USD for 50% of your company. I wouldnt even pay 100USD for 99%.

In this phase, there is absolutely no need for any capital for you. First get the site running (from what I understand some of you are developers), do alpha testing. Try to expand a little, if things go well the investors have something to catch and you might actually have a use for the funds.

Your offer right now is seriously beyond ridiculous

gl

Thanks for your feedback Selene,

We're already working on our alpha, if you haven't checked out our Project Development thread yet.
We can get the site running, but after that there are the gameservers we will be purchasing, prizes we will reserve and marketing.

I understand it may seem sketchy because of the high prices per share, but leagues give huge prices to its participants and we will need a bigger edge over already existing edge, the first being the fact we deal in Bitcoin.

We may be in a closed alpha, but already we have connections. We're discussing with leet.gg to partner with them, consulting with BlockTrail for our bitcoin backend, and also with BitReserve to hold our prizes.

After we fix it up to beta we can already start a season.

In fact, our planned beta release is on mid November.
We're looking forward to more feedback from people as yes, this is our first project, but we intend for it to be a great one.

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July 09, 2015, 02:24:04 AM
 #6

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO


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July 09, 2015, 12:20:46 PM
 #7

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

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July 09, 2015, 12:32:14 PM
 #8

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.


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July 09, 2015, 01:22:41 PM
 #9

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

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July 09, 2015, 04:01:52 PM
 #10

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.
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July 10, 2015, 01:20:51 AM
 #11

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.

Prizes to compete with other leagues are NOT low cost. Also, if we don't earn money from tournament fees, we won't lose any money from prizes.

it's true there is a chance no income will come for the first few days or weeks, less likely with months though, but There won't be any losses either. Also, the craze for this sort of thing is huge, so I highly doubt that no one would even register.

We've even contacted csgolounge, so if ever they accept our offer, people will be betting on the teams playing, and huge traffic will come. Meaning, advertisements will be huge too.

▄▄▄████████▄▄▄ ▄▄██████ ▀▀▀███▄▄ ▄██▀▀ ███ ▄▄ ▀▀██▄ ▄██▀ ███ ▄ ██ ▄ ▀██▄ ██▀ ███ ▀▄▀▄██████▄▀▄▀ ▀██ ██▀ ███ ▀██▀▀ ▀▀██▀ ▀██ ██▀ ███ ▄▄▄▄ ▀██ ▄██ ███ ▄███▀ ██▄ ██ ███ ████ ██ ██ ███ ▄███▀ ██ ██ ███ ▄███▀ ██ ██ ███████ ██ ▀██ ███ ▀███▄ ██▀ ██▄ ███ ▀███▄ ▄██ ██▄ ███ ████ ▄██ ██▄ ███ ▀███▄ ▄██ ▀██▄ ███ ▀███▄ ▄██▀ ▀██▄▄ ███ ▄▄██▀ ▀▀██████ ▄▄▄███▀▀ ▀▀▀████████▀▀▀
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July 10, 2015, 01:56:58 AM
 #12

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.

+1. A business with no income has zero value. Zero. Read that again: zero.

You haven't shown that your model works. You haven't shown that there's a need from the market. You have no execution. The entire thing could go straight down and crash, and right now there's no way to tell. If ideas had value, tons of us would be billionaires. There's a HUGE difference between an idea and executing it, though.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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July 10, 2015, 04:10:42 AM
 #13

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

I see your points.

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.

+1. A business with no income has zero value. Zero. Read that again: zero.

You haven't shown that your model works. You haven't shown that there's a need from the market. You have no execution. The entire thing could go straight down and crash, and right now there's no way to tell. If ideas had value, tons of us would be billionaires. There's a HUGE difference between an idea and executing it, though.

...especially the bolded text. Perhaps it would be better if we started smaller? If you have criticism, it's implied you also have an idea of how to make it better. Other than the obvious way - to cheapen shares - how would you prefer this done?

And just by the way so you don't think I'm a meddling busybody, I'm the sole developer of this project's backend.

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July 10, 2015, 04:19:13 AM
 #14

...especially the bolded text. Perhaps it would be better if we started smaller? If you have criticism, it's implied you also have an idea of how to make it better. Other than the obvious way - to cheapen shares - how would you prefer this done?

And just by the way so you don't think I'm a meddling busybody, I'm the sole developer of this project's backend.

MVP = Minimum Viable Product. Create something that allows users and advertisers to show their interest. This is also your way of testing the waters beforehand. If you can't get interested parties to sign up to a list, they aren't interested. This is always your first step.

FWIW, I'm in the gaming industry. I can definitely help get the project known if it shows that success is a possibility. But right now, there's nothing I can do.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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July 10, 2015, 12:58:07 PM
 #15

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.

Prizes to compete with other leagues are NOT low cost. Also, if we don't earn money from tournament fees, we won't lose any money from prizes.

it's true there is a chance no income will come for the first few days or weeks, less likely with months though, but There won't be any losses either. Also, the craze for this sort of thing is huge, so I highly doubt that no one would even register.

We've even contacted csgolounge, so if ever they accept our offer, people will be betting on the teams playing, and huge traffic will come. Meaning, advertisements will be huge too.

The prize does not have to be huge, if the only competitive advantage your offering (to attract users) is offering the biggest prize, what's to stop a competitor from offering an even bigger one?

One way of showing proof of concept and to fund your first prize pot would be getting people to pre-register, and getting sponsors on board early. If you cannot land users / sponsors you have bigger problems than the size of your prize pot.
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July 10, 2015, 01:06:29 PM
 #16

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.

Prizes to compete with other leagues are NOT low cost. Also, if we don't earn money from tournament fees, we won't lose any money from prizes.

it's true there is a chance no income will come for the first few days or weeks, less likely with months though, but There won't be any losses either. Also, the craze for this sort of thing is huge, so I highly doubt that no one would even register.

We've even contacted csgolounge, so if ever they accept our offer, people will be betting on the teams playing, and huge traffic will come. Meaning, advertisements will be huge too.

The prize does not have to be huge, if the only competitive advantage your offering (to attract users) is offering the biggest prize, what's to stop a competitor from offering an even bigger one?

One way of showing proof of concept and to fund your first prize pot would be getting people to pre-register, and getting sponsors on board early. If you cannot land users / sponsors you have bigger problems than the size of your prize pot.

You make a good point. Pre-registrations open soon and we'll see then.

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July 10, 2015, 01:41:56 PM
 #17

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.

Prizes to compete with other leagues are NOT low cost. Also, if we don't earn money from tournament fees, we won't lose any money from prizes.

it's true there is a chance no income will come for the first few days or weeks, less likely with months though, but There won't be any losses either. Also, the craze for this sort of thing is huge, so I highly doubt that no one would even register.

We've even contacted csgolounge, so if ever they accept our offer, people will be betting on the teams playing, and huge traffic will come. Meaning, advertisements will be huge too.

The prize does not have to be huge, if the only competitive advantage your offering (to attract users) is offering the biggest prize, what's to stop a competitor from offering an even bigger one?

One way of showing proof of concept and to fund your first prize pot would be getting people to pre-register, and getting sponsors on board early. If you cannot land users / sponsors you have bigger problems than the size of your prize pot.

You make a good point. Pre-registrations open soon and we'll see then.

Best of luck to you guys!
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July 10, 2015, 02:10:28 PM
 #18

I am inclined to agree with selene.  You haven't done an adequate job explaining what makes your company worth a quarter of a million dollars.  It is a pretty outrageous valuation at this point IMO

We have many means of income, from sponsors of many companies from the gaming industry, gaming hardware, pro gaming teams
Tournament registrations, Subscription fees, Advertisements, etc.

But the downside would be that our tournament prizes are big expenses for the company..

Do you mean you have many potential streams of income?  As of yet, if I understand correctly, this is all in development.  That effectively means you have 0 income and should be valued as such, not what potential it has. Because it also has the potential to flop.

You have a very good point. What can we do to allow our investors to have more trust that we won't pack our things and leave?

The concern they are bringing up isn't that you will pack up and leave, it's that the business has no income, and isn't expected to have income for at least a few more months.

You should start and gain some traction before requesting funding considering that this is a low cost business. The only businesses that raise funding prior to launching are those that have expensive regulatory obstacles.

Prizes to compete with other leagues are NOT low cost. Also, if we don't earn money from tournament fees, we won't lose any money from prizes.

it's true there is a chance no income will come for the first few days or weeks, less likely with months though, but There won't be any losses either. Also, the craze for this sort of thing is huge, so I highly doubt that no one would even register.

We've even contacted csgolounge, so if ever they accept our offer, people will be betting on the teams playing, and huge traffic will come. Meaning, advertisements will be huge too.

The prize does not have to be huge, if the only competitive advantage your offering (to attract users) is offering the biggest prize, what's to stop a competitor from offering an even bigger one?

One way of showing proof of concept and to fund your first prize pot would be getting people to pre-register, and getting sponsors on board early. If you cannot land users / sponsors you have bigger problems than the size of your prize pot.

You make a good point. Pre-registrations open soon and we'll see then.

Best of luck to you guys!

Thanks! Here goes nothing... Jk.

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July 10, 2015, 03:18:04 PM
 #19

Great, we will do our best to get this going, and hopefully prove that this business is indeed profitable

We can be transparent, and make part of the registration fees directly as prize pool, and display the pool to public.

That way we can get a bit of trust, and it'll have a little Dota 2 Compendium feel into it.

Thanks for the feedback, we'll keep you posted here
Or for more info PM me

Regards,
Jm Erestain

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