2018 World Cup Game-Blockchian Lottery Failed
As early as May 13th, there were investors in the waykichain community bluntly: waykichain has prepared so long, but fell in front of the World Cup.
In December 2017, Waykichain issued it’s token -WICC, and the issue price is 2 yuan.
The issue price of the WICC issued in December 2017 was RMB 2. With the selling point of sports lottery, WICC price reached RMB 17 ( the highest peak) on May 6. The team of waykichain has done a lot of work, but in the past 46 days, the market value of waykichain has shrunk by 75%, which goes against the fiery market.
According to common sense, during the World Cup, anything related to the World Cup will be popular, but only WICC, the world up-themed blockchain not. And even worse, wicc price collapsed during the World Cup. Why did this happen?
1. Token lottery is completely invalid at the present stage
Why I’m saying that? I’ll explain it with a simple example. You purchased 13 WICCs (RMB100) on June 12 and put the WICCs into sports lottery. After several successful lottery, the number of WICCs has won 26 on June 19, your WICC yield, the profit reached 100%. However, wicc price fell from RMB7.8 on June 12 to RMB4.7 on June 19. You only get RMB122 if you exchange WICC to RMB.
Although the lottery won, the earnings lost. This means that when you use Token for lottery, you are participating in two lottery games at the same time. The discrepancy of RMB 80 is the way that token value floats, and it evaporated in the "Casino" of the currency market.
No one is willing to pay for a more uncertain casino when the game is full of uncertainties. So no one would use Token to gamble until the Token price is stable for a long time, that’s why wicc market is not so good as we expected.
2. Exaggerated and wrong promotion
In the waykichain’s website, wicc’s positioning is a public-chain system that can provide all game developers and companies worldwide with lottery games, asset transactions, and foreign exchange transactions. It has also been launched to support football lottery, basketball lottery, and events.
As a blockchain product that focuses on sports lottery, the promotion of the waykichain does not start from the sports community. Instead, it devotes more energy to the renewal of currency players through the exchange.
After the ICO, waykichain has conducted more than a dozen events for various marketing campaigns within six months and keen on all kinds of simple and crude but mentalistic promotion methods. For example, hired the African children dressed in festive clothes, holding a small blackboard, followed by the photographer to read "Bitcoin changed the firecoin, waykichain changed the lottery."
Before the start of the World Cup, Waykichain began to aggressively promote news related to World Cup betting, such as announcing the signing of Ronaldo as the global ambassador for Waykichain. However, on Ronaldo's twitter, we did not see any information related to the waykichain. And on the waykichain's official microblog, the information about signing Ronaldo has also been deleted.
3. Limited development time
Like other ICO projects that rushed to go line at the beginning of this year, to issue it’s tokens, waykichain must find a new concept, otherwise it would lose hot spots in the market where a large number of new coins went online and could not obtain investors.
But the sports lottery concept didn’t leave enough time for the development time of the waykichain team, only 6 months away from the biggest hot world cup. Although Waykichain has developed a decent and exciting sports APP in this 6 months, users can gamble on their APP, but the gambling chips cannot be traded and withdrawn, so that the waykichain APP becomes less valuable.
Except for waykichain, SOC, DPY, BOT and other lottery theme projects, all these currencies have seen a decline of more than 60% (compared to the highest historical price).
Centralized, insecure, opaque, and other shortcomings of traditional gambling seem to be resolved in the blockchain, but in the end it did not move in the direction that everyone expected. No one thought that the project that flaunted blockchain football lottery fell into the biggest spot of the World Cup.