STATE OF GOLFCOIN
The future looks positive for Golfcoin. The team has made significant achievements over the past several months, but we believe that the best is yet to come!
We have been contacted by some of the largest/most well known companies in the golf business (in individual countries and globally), and are pursuing partnerships. This is a complicated and time consuming process. We are in discussions with several entities and will update the community if/when documents are signed.
The Golfcoin team is in the process of choosing strategic advisors. We are in discussions with several golf industry veterans, including some who work with various tour players (including several ranked in the top 100 globally). These advisors are being chosen based on the total value proposition they will bring to Golfcoin, including industry connections, experience, and exposure. The community will be updated when these relationships become official.
As Golfcoin continues to grow, we need more team members! We will be opening up an application on the website for passionate, talented individuals to join Golfcoin. Considering the state of the blockchain industry is in flux and Golfcoin is in its infancy, we will be accepting general applications on an on-going basis. Although hiring will be progressive, we hope to maintain the ability to onboard quality team members in a short period of time.
Our achievements position Golfcoin for what could be an exciting future. As you are aware, Golfcoin (GOLF) is currently supported on the Coinbase Wallet. While this is significant in itself, the most exciting aspect is the potential inclusion in the Coinbase ecosystem. Based on the public comments made by Brian Armstrong (Coinbase Founder & CEO), we believe this to be the first step in getting into the Coinbase ecosystem, which could have a monumental impact on Golfcoin. If you are not familiar with Coinbase Commerce, it’s worth checking out. Coinbase is uniquely positioned to increase crypto adoption by merchants, and their strategy is becoming clear. If successful, Golfcoin could be positioned to benefit in a major way. This would mean merchants, clubs, digital venues, and apps/games in the golf industry will have a tested, trustworthy, regulated platform for accepting Golfcoin.
GOLF is listed on the Binance Info Page — the first step of Binance’s listing process. Being the largest exchange, we are focused on getting GOLF on Binance. If anyone from our community has unique contacts within the Binance organization and can assist in this process, please contact us.
While we are most excited about Binance, Bittrex, and Coinbase, we have applied to over 60 exchanges — impressed by the “volume” that they reported. As we quickly learned, the majority of this volume is fake, making the listing fees — typically anywhere from 1 BTC to 100 BTC — simply not worth the investment. (Another giveaway is when the exchange also includes guidelines for market-making bots and minimum requirements of daily volume.) Hopefully, CoinMarketCap’s (CMC) Data Accountability & Transparency Alliance is a much needed improvement in this area although conclusive improvements regarding data accuracy are yet to be determined.
CoinExchange’s compliance with CMC’s initiative resulted in a period when Golfcoin’s value was frozen on CMC. Thankfully, we were able to get this cleared up with CoinExchange and CMC — very big thank you to both for having such professional support.
SnapShot & Golfcoin Rewards
SnapShot Training Kiosk
The SnapShot kiosk was a tried and tested product before the inception of Golfcoin and was featured on the news in the United States. It will remain part of the complete vision of Golfcoin’s ecosystem. What we want to emphasize in this report are a few achievements we are currently working towards before SnapShot will become a reality.
- Mainstream awareness and adoption of Golfcoin in the golf industry
- Facilitating and educating early adopter clubs and courses
- Connection to Golfcoin Rewards program platform
Golfcoin Rewards Program
All interface designs for the Golfcoin Rewards program mobile app are complete. However, development time is to be determined and is dependent on cryptocurrency regulations. It’s important businesses who adopt Golfcoin know their companies are not exposed to any financial or regulatory risks. This is primarily why Golfcoin is utilizing technologies such as Trust and Coinbase Wallet as their companies are meeting these standards.
Development is re-scheduled due to:
- Recent integrations with current technology that streamline Golfcoin’s potential adoption and development.
- Development in time/cost that prohibit and restrict time to global adoption.
- Lack of regulation limiting many merchants, clubs, courses, and digital venues from adopting Golfcoin.
Roadmap & Ecosystem Additions
In preparation of meeting standard listing criteria for the largest exchanges, the Golfcoin roadmap will be updated to better reflect goals and milestones. Changes will be announced to the community as they occur.
Digital Venues Ecosystem Addition
This was a clear decision to add to the Golfcoin ecosystem. Since digital venues such as TopGolf and other entertainment lounges offer their own reward incentives the team believes Golfcoin, as the only (GOLF) cryptocurrency will be a perfect extension these companies can add to their rewards programs.
Online Sports Betting Ecosystem Addition
The Golfcoin team is preparing for the legalization of online sports betting and the integration of cryptocurrency. We have been in discussions with multiple platforms that will launch next year. The timing and development necessary for implementing Golfcoin is to be determined.
According to LegalSportsReport.com, “The Supreme Court in May 2018 struck down PASPA, the federal law banning single-game wagering. Each state now can set its own rules for online sports betting…” It is projected that, Virginia, the home base of Golfcoin LLC., will be legalizing online sports betting in 2020. It is currently legalized in West Virginia and Washington D.C. This will present major opportunities for the growth of Golfcoin as many of these online sports betting platforms, such as BlitzPredict and 4CasterSports, are planned to also accept cryptocurrencies.
In addition, SportsBettingDime.com says, “International sports betting is estimated to have a market capitalization of $250 billion.”. They go on to detail market growth in the United States explaining, “In 2009, the sports betting market was valued at $20 billion. By 2016, it was valued at $40 billion. With a present market capitalization of (conservatively) between $60–73 billion, the market has conservatively grown at a rate of $10 billion per year. If this pace continues, American sports betting will occupy an increasingly significant share of the world market.”
Coin Burn Questions From Community
While the team has discussed the pros and cons of a Golfcoin (GOLF) burn, we’ve concluded there will not be a coin burn in the short term. However, for the long term vision and success of Golfcoin it is not off the table. The reasoning for this is to determine a true goal behind the burn and decreasing the supply rather than conducting it for marketing incentives. Also, given the new additions to the ecosystem, the team remains confident the GOLF supply is accurate based on the size of the global golf and sports betting industries.
Articles Worth Reading
Online sports betting sites in the United States
The Size and Increase of the Global Sports Betting Market
How Professional Sports Brands Are Using Crypto to Boost Fan Engagement
Ballers and Bitcoin: Miami Dolphins Set To Accept Cryptocurrencies For Payments
Blockchain Sports Betting Platform BlitzPredict Looks To Future Of Wagering
“US-based startup BlitzPredict is set to bring one of the first blockchain-based products to the sports betting market.”
What MLB’s Entrance Into Cryptocurrency Could Mean For Sports Gambling
Future of cryptocurrency in virtual gaming industry is bright
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