Q1–2018 Financial Summary

The first quarter of the new year is done and we’ve already released our narrative and financial report for Q1 2018. Click here to read all about it in case you didn’t catch its release in our official Slack channel.

Here is a quick run down of Monster Byte’s Q1 2018 performance:

• Continued profitability even in a bearish Bitcoin and crypto market, and the added loss of the US segment.
• As we write this, Bitcoin has only just halted its longest recorded slump in history, having shed almost 70% of its highest value in the Q1 2018. Whether or not this results in a proper recovery for the cryptocurrency market remains to be seen, but the gambling industry was not preserved from the knock-on effects of the crypto slump in this reporting period.
• Crypto players were more cautious, while Bitcoin value dropped significantly, cutting into dollar value of net profits. This was further exacerbated by the loss of US players, although that is an area that our ongoing licensing efforts have been cognizant of since the last quarter.

We still recorded profits and growth, giving us confidence that we have a resilient business model, as can be seen from the highlights:

• 254% QoQ increase in the number of games played in our Provably Fair Casino.
• 84% YoY increase in the number of active players that played in the Casino or Sportsbook.
• 434% YoY increase in the volume of play in the Provably Fair Casino.
• 104% YoY increase in the volume of play in the Bitcoin Sportsbook.

The redesign of our provably fair casino games has helped bolster casino play growth, bringing in more than 3 times the bets of the previous quarter and recording a 25% growth in BTC volume against the same period.

Wholesale / Syndication Efforts

In addition to the positive success of our B2C operations highlighted above, we took significant steps towards B2B development, securing 3 new partnerships due to go live next quarter.

• We’re excited to say that we’ve secured whitelabel agreements with 3 platforms who intend to leverage our Monster Byte platform within the coming months — all without spending a single satoshi on marketing!
• Meanwhile, we’re busy refactoring all our Casino games so they’ll be easier and simpler to plug into new user interfaces and skins. We’re also working hard to complete our Sportsbook APIs, which promise to be the easiest and most straightforward integrations you’ll find in the industry. Developers will be able to easily fetch sports, leagues, events, and bets from our risk-free Sportsbook. We expect to welcome our very first consumers by the end of Q2 2018.

MoneyPot

You won’t have noticed it, but we’ve been ramping up the MoneyPot platform and refactoring the solution to become more flexible, secure, and scalable. One of our favorite features that we recently added is the ability to deposit alts directly into MoneyPot-supported apps and access them across the entire platform, instead of having to transfer directly from MoneyPot.com.

The MoneyPot API has also undergone development work so that it can resume support for the very popular DiceBot application. This is the first step towards restoring the brand to its former levels of popularity, trust and revenue as we look forward to bringing back some of the best-known gaming apps, including BetterBets.io, CoinMillions.com and Sweepabit.com.

In Q2, we are adding additional supporting coins and tokens using the Ethereum and Waves protocols. In addition, assuming all goes well with our development and testing initiatives, we will be launching the MoneyPot enabled crypto exchange! This should bring significant brand awareness, and revenue, back to the MoneyPot vertical.

Profits to be distributed for Q1 2018 is at $22,856.

Speaking of resilience, it’s worth noting that our MonsterByte token (MBI) hasn’t fared as badly as most coins (including Bitcoin), although there’s much work to be done to improve trading volume on the Waves DEX — something we also hope to address with our upcoming MoneyPot based crypto exchange!

A reminder: if you are a MonsterByte token (MBI) holder, don’t forget that your share of Q1 2018 dividends will soon be distributed. This distribution takes place on Monday, April 30th, 2018.