NBA Superstar Stephen Curry Inks Deal to Release His Own CryptoKitties
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NBA superstar Stephen Curry has inked a deal that will see him become the first celebrity to get the CryptoKitty treatment.
The partnership, which was struck through Moji — Curry’s emoji app development company — will see the Golden State Warriors point guard release a series of three exclusive modeled after his likeness.
“Stephen is the perfect partner to try out this new kind of Kitty,” said Mack Flavelle, co-founder of CryptoKitties. “He’s an incredible athlete, but also has a deep interest in technology and innovation.”
The first “CurryKitty” — named “Steph Fur Three” — went up for auction on Monday, and the final purchase price could rival the six-figure sales seen in mid-December at the height of CryptoKittiy mania.
Source: cryptokitties
This particular cat’s biography focuses on Curry’s athletic achievements, while another — “Chef Furry” — focuses on his budding culinary process.
“Hi! I’m Chef Furry! You might know me as a two-time MVP on the court, but I’m also runner up for MVP in the kitchen (I share the kitchen with my partner and she keeps me humble),” his biography reads. “Can you guess what my favourite dish is? If you said curry, paws for a second and ask yourself if I’ve heard that one before. If you said my lady’s chicken parm, get out of my head!”
CryptoKitties allows users to buy, sell, and breed digital cats, and it runs on the Ethereum blockchain as a decentralized application (DApp). Cats are structured as ERC-721 tokens, which are non-fungible and built to represent unique assets.
The game — which was originally created by Canada-based development studio Axiom Zen — recently spun off into its own venture after in a Series A funding round.
Though lauded for their potential, this promise has yet to translate into widespread real-world usage. According to Dapp Radar, just one DApp has more than 1,000 daily active users, and fewer than 20 DApps have more than 100 daily active users.
Small to medium-sized businesses play an important role in the economic development of a country. Their role in terms of production, employment generation, contribution to exports and facilitating equitable distribution of income is very critical. They also supply essential products for mass consumption and exports.
Banks hardly give loans
Despite the importance of this sector to the economic life of any given nation, the universal norm remains that it is difficult for them to have access to much-needed funds for proper development and establishment. Most banks are reluctant to issue loans to small businesses due to the high-risk level associated with emerging businesses. This might be because of the absence of collateral, or as a result of the fact that such businesses hold no proven track records in most cases in order to meet up with the standards set by the banks.
The ICO escape
The advent of the decentralized and unregulated crowdfunding system known as Initial Coin Offering (ICO) happens to provide a huge bailout opportunity for both emerging and existing businesses who may find it difficult to meet up with the standards of the banks and other financial institutions. This ICO model enables a crowdfunding process that cuts through geographical boundaries on a global level. This system makes it possible for different classes of individuals from across the globe to be able to .
Apparently, the spreads the risk across numerous contributors who are left with independent tokens that do not necessarily retain any equity from the parent business or company. The token’s values are only determined by general economic forces in the token marketplace. This phenomenon largely exempts the token vendors from any responsibility and is suspected to be one of the major reasons why inconsistencies exist in the ICO ecosystem, and why examples of fraud and dishonesty are rampant.
In essence, traditional pathways leave the entire business environment shortchanged with inefficient and unsustainable financing procedures, while implementing the ICO model opens up a huge potential for the market, but comes with associated loopholes that form a setback to the entire ICO ecosystem.
The balance point
Finding the balance by introducing a system where the shackles of difficulty in fundraising are broken, while investors are protected by retaining tokenized equities of their businesses of interest is the ultimate objective of .
The Stamps platform is an alternative to the traditional ICO model; Stamps will provide a safe, inexpensive and transparent path for businesses to issue equity in the form of tradable tokens that represent an ownership share of their company. This medium allows businesses to reach a growing community of STAMP enthusiasts interested in emerging technologies and innovative business ideas.
When a business chooses to issue equity tokens through the Stamps platform, they will retain a portion of them, while the rest are gifted to STAMP coin holders, similar to the ever so popular “AirDrop” model. Once a market has formed, the business can then liquidate a portion of their retained equity tokens on the open market to fund their operations as needed. If the market fails to form in an agreed timeframe, the equity will be returned to the issuer.
As you can see there is a very little risk to the issuing business, but this is not a one-sided affair, there are also many benefits for the equity token holders. Just by holding the equity tokens one will be receiving legal ownership rights of the issuing business. There are also bitcoin Dividend Payments, Voting Privileges, Merger/Acquisition Payouts, and all of the legal privileges that come along with holding equity shares.
distribution is planned in an ICO with a Soft Cap Raise of $1 mln and a Hard Cap Raise of $89 mln.
The Stamps Platform is designed to achieve the ultimate balance where every participant will be adequately protected, be it the equity token issuer or the holder. A confidence filled market is indeed a potentially robust market.
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