Tournaments True Reputation
(some obvious secrets and non-obvious meanings)
One wonders, why do we need such a form of crowdfunding as ICO when there are so many familiar financing models for the projects of completely different sizes, volumes and ambitions with various types of controversial obligations.
The correct answer to this question is only one - because ...
In general, the attitude of investors to the very obligations of those whom they provide with assets is very individual. And the reason is not so much the seller's heavenly singing, the harmony of his song and performance, but mostly the mood of the one who listens to him.
There are some historical examples. Let’s take the brightest: how long Columbus worked on his map of the way to India, to how many royal courts he offered it but he received a squadron only after a personal performance of the song about gold to the Spanish Queen.
Do you think she studied his card in order to make a decision that the next petitioner is not a fraudster and he can be given money?
Yeah. I read and reread it, along with the entire royal court, in which it was considered unnatural to be literate for grandees. Therefore, the Queen alone verified the authenticity of the “facts” set forth, along with the authenticity of the documents submitted by the applicant: certificate of education, discharge from employment record, recommendations from previous jobs, medical certificate, candidate’s resume, driver’s license to drive a caravel ...
Or did she just decide to throw money away to the wind, because she became sick to death of this petitioner? It is hardly. After all she could have ordered to hang him, get rid of him and have done with it.
Columbus simply received his ships under promises to struck gold, and the crown assumed all the risks only because the petitioner was pretty convincing.
He was emotional and smart. It is in this sequence, because to be just smart it’s boring. And annoying. Up to the gallows.
But Columbus, probably an intelligent man, was lucky to file himself correctly ...
Hence we came to the conclusion: the queens give the squadron not for the presence of documents like White Paper or for the wooden model of the ship on a scale of 1 in 1000 (such as MVP) and not for these documents and models themselves.
In this case a little-known captain could get the assets.
Another thing is that as a result he “discovered” not that continent which he was going to reach and which was called, besides, not by his name, but this is not the main question ...
And now let’s imagine that at the same time not only the captain came to Isabella of Castile, offering his project of delivering gold but also the alchemist, offering to extract this gold at home, without departing from the country and for the same money as the captain. Or even two captains came offering delivery of gold - one by sea and the second on balloons ...
Moreover, both the captains and the alchemist, as always happened, bought beautiful outfits to look good in front of the queen, hired or bought crews to drive up with pump, gave bribes to the servants to come to the Queen at a convenient time or simply made up the desired presentation ...
In general, they were engaged in general non-mandatory marketing and public relations, without receiving in return any guarantees of investment.
What would the unfortunate Queen do in such a case?
The easiest and most spectacular option is to arrange a contest for applicants. Moreover, if they fight, having paid from their own pockets for the arena, the sand on it and the popcorn to the audience, not being embarrassed by the bloody snot, their own and the rival, then audience sympathies will accompany them, unequivocally. People are mercantile because they are eager to get “bread and circuses!”
And if all the participants agree to make such a competition, paying out of pocket, their “rating” in the eyes of the audience and the investor grows. And the attitude to their insane projects of delivery or production of gold is changing: “this changes everything, if the fighters are ready to fill each other with muzzles to prove that they are right!”
And then let the new continent be called not by the name of a fighter, but the memory of a fighter will live forever. Well during about 500 years for sure.
This can be a true reputation, and with a different "weight": they put the monuments to one, without naming the continent by his name, and the second is known only by the foolish name of the both continents ...
In principle it is generally very strange: why two of them? One is like a spare part, if something will happen to the second? Okay. It was called in this way what’s now ...
With the ICO projects which the XYZ.money team proposes to promote through tournaments, the same “Isabella method” is used: a competition that the fighters pay for.
But at the same time, each fighter has a chance to get:
- prize, as the sum of all fighters contributions ;
- favorable financing conditions from investors who are going to watch the struggle specifically , and not to take a nap under Homer's harmony and the verses in ancient Greek (Cervantes was in the project);
- the reputation of the fighter who risked their money to get impact in his own face and to try to give it to someone else. And this is the most important incentive: investors ' money ends sooner or later. Reputation is what gets them back or allows you to create anew.
And one more important detail: any fighter can call his opponent to a fight in such a tournament, and probably ruin the reputation of the opponent in a case of his refusal ...
These are the principles of dueling and betting. The most effective means in resolving disputes that humanity could come up with. These principles are proposed in the ICO.
And the scam problem can be solved by itself: tournament players finance themselves, and investors, if they want, invest in a real fighter, and not in the manufacturer of his tunic with advertising text on it.
What can be offered to the fighters in the current conditions by the organizers, so that they are not afraid that they will simply be robbed and put out the door? The royal word is no longer enough.
The best option would be the fighter's contribution management system namely a smart contract in the blockchain. Of course, the current smart contract offered by the XYZ.money team (see smart contract and tournament rules) is not perfect. It is still cast-iron, inflexible, with little functionality, which from the one side is rather good: the tank is stronger than a tin can. And it can also give changes back, in addition to protecting the players´ BUY-IN “sitting in it”. But upgrading the smart contract for the following tournaments is a technical issue and not the most difficult one.
The most difficult is for investors and other “courtiers” invited to the tournament: not one investor is invited, but many at once. Together with them, "Isabella" invites more minstrels who will spread news to all the courtyards of Europe, merchants who will offer food and drink to fighters and the public, hoping to get the status of "supplier", etc ...
How should they all can behave when such a new market opens? Just feel happy.
Imagine if Isabella organized this tournament for hundreds of captains at the same time. What size the prize could be waiting for the winner?
And if 100 captains from different countries in 100 different cities of the world participate in the competition at the same time? What reputation will get not only the winner but any player?
Or do you think that BUY-IN is expensive? Being compared with the cost of clothing, carriages and bribes? Or to the chance to win a tournament and get at least ten times more? Compared to the fact that the players demonstrate their fighting qualities to investors, who are ALREADY READY to invest in them, and do not tell about themselves at presentations, plaintively looking at the dormant room? Which, by the way, may not be ready for a presentation, and the speaker has already paid for his speech ...
Or do you think there will not be so many players?
Do you seriously think so?
It is quite accessible for calculations of the value what kind of industry for the participants of such a tournament is contained in this idea of tournaments and what is the potential we can get and everyone can calculate it for himself.
One thing is for sure: TON did not attract so much. And he did not assign any reputation to anyone but itself. But this is very important: ICO should be for everyone, not just for yourself.
And it must have something unifying. What? The principle of assigning a reputation for participating in a competition is a better option than information on the amount of collected money. And if you call a way to achieve consensus in such a competition somehow,such as "proof of joke", "proof of play" or "proof of True Reputation" ...
The funding itself can be called as “game coin offering” or something else, but beautifully and correctly ... You can make offers.
And the winner is offered to make a choice for the next location venue for the tournament, disciplines, additional awards and similar bonuses in the “Eurovision” model ... And in the process, something new and useful may emerge.
Are you interested? We are very interested.
#truereputation #xyzmoney #proofofplay #gamecoinoffering #proofofjoke
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