Decentralized bitcoin lottery.
Russia with Costa Rican legal entity.
Ethereum ERC20 token protocol.
28 June 2017 – 28 July 2017
$5.4 million in bitcoin.
14.7 million TFL tokens created.
70% sold to investors.
30% retained by fund-raiser.
Market cap – ICO amount raised per token sold * total number of tokens
Market cap – first listed Aug 2017
Market cap – Feb 2019
RIO since ICO (not including dividends)
Per year: -59%
RIO since first listed (not including dividends)
Per year: -89%
Investors that lock their TFL tokens are promised they can receive 10%-15% of ticket sales paid quarterly, like a dividend. Locked TFL tokens cannot be transferred until the lock period is over (how long this is is not stated, we can assume 1 quarter).
TFL token holders are also promised voting rights in future company developments and capital allocation.
TFL tokens cannot be used to enter the lottery.
TrueFlip have a working, profitable product with real users and they have good development plans.
TrueFlip have chosen a space that is ripe for disruption as we can do a lot better than the standard government monopoly lotteries that remain incredibly popular despite their lack of gambling or entertainment value.
Evolution and expansion of the platform
Recently TrueFlip have added a hand-full of new games to their site like custom dice and slot games. They have replaced their original lottery with a shorter timeframe version. These new games are very well made with beautiful graphics and rich sound.
True flip say that revenue from these new games does benefit token holders in the same way that revenue from the original lottery game did.