Monster Byte — An Overview
A lot of people have recently stumbled upon Monster Byte and have probably wondered what it is we actually do! We’re hopeful this post gives everyone a good overview of who we are, and what we do, and where we are headed.
A quick reflection on our history: we started out in 2013 as one of the earliest Bitcoin casinos online which offered one of the world’s firsts: industry-changing Provably Fair gaming coupled with a Sportsbook on BitcoinRush.io (formerly CasinoBitco.in).
In Spring of 2017, we executed a very modest crowdfunding campaign for an expansion into the B2B gaming business, enabling us to resell all the software we custom-built for BitcoinRush.io. Thus far, every quarter since, we have distributed a portion of our revenue to our backers via MonsterByte Tokens (MBI).
Along the way, we brought our loyal users closer together and welcomed new ones. We’ve forged new partnerships, connected with other networks, continuously shaping the Monster Byte brand from its roots as a crypto pioneer and improving its offerings, always seeking for more recognition and strength in what is still a young cryptocurrency industry.
Those who’ve been following us know who we are and we’ve made real efforts towards growing our close-knit community, transparently sharing updates and developments in our various channels: we’re active on Slack, BitcoinTalk, and through our regular e-mail updates, blog posts and quarterly reports.
So you now know who we are. And we’d like you to know more about what we do.
Monster Byte business streams — how it all comes together
Our business is currently comprised of four verticals, each of which is a unique niche within the cryptocurrency industry, and is where we focus our development and marketing to generate income. All these contribute toward a wider goal of garnering a significant share of the market for Monster Byte.
1. B2B gaming: Direct API access and white label solutions (developer access to Monster Byte technology)
For a one-time on-boarding fee, clients can obtain direct Application Programming Interface (API) access to both Monster Byte’s Provably Fair gaming software and sportsbook. In simple terms, this means that clients pay to be able to communicate with and use our technology for their needs.
Monster Byte also sells custom white label solutions for our Casino and Sportsbook. White labelling simply means that clients can use our robust technology and games but under their own branding and even custom visualization. Essentially, they get to market their own name, while using our proven and reliable Monster Byte games to populate their product list.
We have been working diligently over the past two quarters to re-factor and harden our APIs, and have forged relationships with several clients which will be leveraging both our API and white-label solutions over the course of the second half of 2018. We can’t wait to share a few examples and testimonials of these clients, but need to hold off until they themselves are live and operating.
2. B2C gaming: The BitcoinRush suite, which leverages Monster Byte software from above.
Monster Byte owns and operates BitcoinRush.io, which we introduced earlier. It is perhaps the vertical most familiar to the industry, thanks to its reputation as being the world’s first Provably Fair Casino plus Sportsbook.
It leverages Monster Byte APIs from above and continues to be a prime focus of our development efforts (as demonstrated by the recent facelift), although our future expansion strategy will prioritize our forays into B2B efforts to capture the bigger market share Monster Byte deserves.
3. MoneyPot: multi-crypto wallet with app integration
Monster Byte acquired MoneyPot at the beginning of 2018. MoneyPot was another pioneer in the crypto gaming industry: its centralized wallet allowed users both to securely store and spend cryptocurrency and also allowed them to invest their funds into a universal bankroll leveraged by gaming applications integrated with MoneyPot APIs.
MoneyPot retains this feature today, and continues to be leveraged by consumer sites using the MoneyPot suite of APIs, albeit with a smaller active base today, but with many more in the pipeline coming online.
It has a two-fold revenue. The first is on listing fees charged for coins or tokens that want to be part of the 70,000-user MoneyPot network. The second is on a small percentage of every losing bet placed on MoneyPot apps. Essentially, Site Operators share a small fraction, while the rest goes to the universal bankroll.
4. Nessie: MoneyPot-powered cryptocurrency exchange
Our latest vertical, Nessie, is built on top of MoneyPot using newly-built MoneyPot APIs to do everything: from creating and authenticating users, retrieving deposit addresses and allowing withdrawals to setting up additional security mechanism like 2FA.
Our longer-term strategy with Nessie is to compete with pretty much the only other exchange that supports Waves-tokens (like our very own MBI), Tidex.com. We know that emerging coins and tokens are struggling for space, with listing fees on exchanges already reaching unreasonable and exorbitant levels, so we also hope to offer a platform for new coins and their fledgling communities to obtain liquidity via reasonable listing fees, as well as the unique chance for their coins to access instant utility across MoneyPot gaming apps.
This won’t happen over night, but the fact we can offer both an exchange and gaming option to coins and token is an advantage we will use and market aggressively as we have things in order from a software perspective.
We’re proud of our history, entering our fifth year of operations, particularly in an industry where longevity is almost unheard of. Almost all the names and brands that started in the same year we did, back in 2013, are no longer around. And we’re equally proud of what we’re continuing to do, and what we’re setting out to do.
