Joe Zhou, founder of esports platform FirstBlood, discusses the experimental nature of token economies in the 2017 crypto ecosystem.
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“A lot of dApps right now, they haven't launched with their real, you know, real money function yet. They probably, you know, there's some products who deployed their app, applications on top of testnet, but they don't know how the real economy is going to work out just yet.”
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Opinion
Zhou: Why FirstBlood Needed a Custom Token for Witness Node Utility
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Disclosure
Zhou Admits FirstBlood's Crowdsale Token Pricing Ratio Was 'Very Arbitrary'
“That ratio is very arbitrary. We basically, you know, look at the previous projects, we did the token launch and then we came in with a number, and then we want to give early supporters the special perks, such as discounts to, you know, to join the crowdfundin…”
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AssertionSupported
Zhou: FirstBlood Invented the Crypto 'Power Hour' Crowdfunding Concept
“And really the September 26th, we finished in the first hour, Because we were the inventor of the Power Hour concept for the whole crowdfunding thing.”
Joe ZhouSep 16, 2017▶ 9:05784: Crypto: How ICO Companies Turn Money Raised Into Cash-In-Bank To Fund Growth
AssertionNot publicly verifiable
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“All this selection process, ah, Has like a cap rate on on how likely you're getting selected to be participating in the network or helping the networks to be around which we did we did cap at the one percent as a maximum impact. So it doesn't matter how much y…”
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Disclosure
Zhou: FirstBlood Founders Were Allocated About 10% of Total Tokens
“The allocation, I think we had about 10% off the total.”
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Disclosure
Zhou: FirstBlood Liquidated 80% of Its ICO Ether to Fund Operations
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