Can GoldenBall (GLB) make money from Betting and Gambling?
The GoldenBall Token (GLB) is a Binance Smart Chain cryptocurrency built to cash in on the explosive growth of gambling and betting.
Its builders hope GoldenBall (GLB) will become the basis of a decentralized transaction network for betting and gambling. They will build the network on the Binance Smart Chain. Bettors and gamblers will make transactions in the GoldenBall token.
One way GoldenBall could make money is to build Massive Multiplayer Online Role-Playing Games (MMORPG) similar to Runescape. In those games, players will compete, interact, and build digital wealth by buying, selling, and trading items, GoldenBall’s white paper speculates.*
Could GoldenBall make money by encouraging betting on MMOGs?
I think Runescape shows MMORPGs could be an enormous market fpr GoldenBall. For example, Missedplaceditems estimates both versions of Runescape had 104,517 players on 5 December 2021. In detail, Old School Runescape had 70,272 players and Runescape Evolution of Combat (EOC) had 34,245 players on 5 December 2021. In contrast, mmostats.com estimates Old School Runescape had 1.3 million daily players on 5 December 2021.
An obvious hope is that GoldenBall will allow people to bet on MMORPGs, eSports, and Massively Multiplayer Online Games (MMOGs). That market could be enormous, mmostats estimates the largest MMOG Final Fantasy XIV Online had 2.5 million daily players on 5 December 2021.
In comparison, the second largest game had Minecraft had 2.1 million daily players on the same day. Mmostats estimates five MMOGs had over one million daily players on 5 December 2021. Additionally, mmostats identified 27 MMOGs that had over 100,000 daily players on 5 December 2021.
If the largest MMOG GoldenBall could just get 10% of Final Fantasy XIV Online players to bet on that game, it could have 250,000 bettors. Thus, I think there is some logic to GoldenBall’s madness.
Can GoldenBall Grow?
Notably, betting and gambling are one of the fastest growing activities in the world.
Notably, gambling is legal in most places. For example, Gambling News estimates, only 15 of the world’s 195 countries have total bans on gambling. In addition, 32 of the American states and the District of Columbia have legalized sports betting, American Gaming estimates.
The value of sports betting could be enormous. Zion Market Research estimates the value of the Global Sports Betting Market will grow from $131.11 billion in 2020 to $179.3 billion in 2028. GoldenBall could increase the growth of that market by adding MMOGs and MMORPGs to the mix.
What is GoldenBall?
They envision GoldenBall (GLB) as a progressive deflationary DeFi token. They design a progressive deflationary token to limit inflation by decreasing the market supply.
To explain, they deliberately try to keep GoldenBall’s price low to limit inflation. Another reason they try to keep the price low is to make the token cheap so most players can afford to buy it.
Additionally, they design a DeFi token for decentralized finance (DeFi). Hence, GoldenBall is a financial instrument users can loan out and borrow against.
To make GoldenBall deflationary, they built it with a token supply of 60 billion GLB. They will put 6% of the GLB into an auto liquidity pool to GoldenBall liquid and use 2% as project incentives.
They built GoldenBall as a BEP20 token. The BEP20 standard extends the popular ERC20 (Ethereum Request for Comment) token standard to the Binance Smart Chain. Hence, GoldenBall can operate on both the Ethereum and Binance Smart Chain blockchains.
GoldenBall and Binance
They design BEP20 tokens to represent shares of value, for example; dollars in a bank account. Thus, the GoldenBall (GLB) tokens represent money people are betting online. They can fuel BEP20 tokens with Binance (BNB) and the BinanceUSD (BUSD) stablecoin.
An obvious use for GoldenBall is for betting pools on Esports, MMOGs, and MMORPGs. Another use for GoldenBall is as a betting token at virtual casinos. For example, a casino they build in a virtual environment such as Decentraland. Perhaps a James Bond virtual world where visitors could play baccarat with 007 at the Casino Royale.
GoldenBall is currently for sale on Pancake Swap. They hope to list GoldenBall on major exchanges in December 2021, integrate GoldenBall with online gambling and betting platforms in the first quarter of 2022, and launch a fully autonomous GLB platform in the second quarter of 2022. Unfortunately, they do not identify the exchanges or the gambling and betting platforms.
What Value Does GoldenBall (GLB) have?
Interest in GoldenBall is high. CoinMarketCap named GoldenBall (GLB) its sixth most trending cryptocurrency on 5 December 2021.
However, Mr. Market gives GoldenBall (GLB) minimal value. For example, GoldenBall had a Coin Price of $0.00002042, a Market Cap of $421,551, a Fully Diluted Market Cap of $1.222 million, and a 24-Hour Market Volume of $1.492 on 6 December 2021. They base those numbers on a Self Reported Circulating Supply of 20.75 billion GLB, a Maximum Supply of 60 billion GLB, and a Total Supply of 60 Billion GLB. GoldenBall was CoinMarketCap’s 3,202nd largest cryptocurrency on 6 December 2021.
In contrast, CoinGecko gave GoldenBall a Coin Price of $0.00002048, a Market Cap of $1.229 million, a 24-Hour Trading Volume of $504,303 and a Fully Diluted Valuation of $1.229 million on 6 December 2021. They base those numbers on a Circulating Supply of 60 billion GLB, a Total Supply of 60 GLB, and a Maximum Supply of 60 billion GLB.
I think GoldenBall is a cryptocurrency worth watching because it could make money from growing businesses and popular activities.