Cryptoworld: ERISTICA-Revolutionary P2P-platform that drives participation in challenges and online competitions.

Eristica overview

The project was started as an idea in 2014. It was at the time, when Nikita Akimov, the founder of Eristica, began working on the prototype of the application, forming the team and experimenting in the search for the best way to interact with the challenge community.

In 2015, the first public version of the Eristica application became available for download on Google Play and iTunes. In August 2016, the project took part in the startup competition held by Winter Capital venture fund and the McKinsey & Company consulting company. The Eristica team shared the first place with two other projects, winning the prize of $75,000.

This was the first major recognition of the project.This is the same year that the project started growing in popularity reaching 500,000 users. At the beginning of 2017, the Eristica team focused on rapidly developing region of Southeast Asia and India which is known for high demand for local entertainment content. More information here : https://eristica.com/

What is ERISTICA?

Eristica is a revolutionary P2P-platform that drives participation in challenges and online competitions. The project was launched in 2015 and has already got more than 1.2 million users. The platform enables each participant to launch and accept challenges, provide video footage of challenges completed and get ratings based on the results. Eristica users are also allowed to generate viral content with the videos of challenges getting millions of views on YouTube, and the winners becoming stars.

The system of rating, reputation and ranking creates a powerful incentive for active participation. Competitive incentive makes players fight for top places in the rating, in the quest for fame and prizes. With the help of blockchain technology, the Eristica project intends to overcome the obstacles faced by the industry and create a single ecosystem for both offline and online competitions.

Tokenization of the platform’s economy will offer the opportunity to get a reward for winning challenges, receive virtual reward from successful predictions and buy access to all services of the platform. Eristica is a universal platform, where each member of the community benefits from the synergy created within the ecosystem. More info,see here : https://twitter.com/EristicaApp

Benefits

Financial indicators and fees in the industry of Bets and Challenges are not uniform and sometimes the disparity can be exorbitant. Bets are usually subject to bookmaker or intermediator firms meaning that the fees can rise up to 20%.

For example, platforms with challenges among young people charge a 10% fee while online and eSports competitions charge 5–10%.

That said, Eristica sets a single bet for all types of bets, challenges, and competitions, that is 3%. This is bound to become a standard in the industry and create a flow of customers from more expensive platforms.

Eristica Game API

Initially, Game API was intended to be an experiment based on observations and analysis of the actions of the platform’s gaming audience. Gamers made challenges concerning the one who would score more points or who would complete the level with the best result. Interest in such bets began after the emergence of popular game, Flappy Bird.

The problem was the fact that the Eristica services weren’t integrated into this games, so the gamers had to send screenshots as evidence in their challenges. Game developers noted positives of these challenges in terms of increasing the average duration of the gaming session, as well as in the viral effect, where users went on to recommend the game to their friends.

On this basis, Eristica started working on a Game API. This is a simple and easy-to-use software interface will make it possible to integrate Eristica services into games on arious platforms. Gamers can win Eristica tokens in challenges with friends and spend them on in-game purchases inside the game right after that. Circulation of tokens will run through both the Eristica platform itself and the partner applications with economic links, thus, forming a strong and lively ecosystem.

First of all, Eristica will look at creating an SDK for the most popular game
development platforms, such as Unity3D Engine and Unreal Engine The SDK will allow building of a wallet and services both in the existing and in the future games developed on these platforms.

Visualisation

Eristica token issuance

Token allocations

Project Budget

The fund raised in the course of ICO activity will be fully and completely used for the development of the Eristica platform. Depending on the volume of funds raised, a specific scheme for the allocation of the fund will be chosen.

Eristica intends to become a pioneer in the field of peer-to-peer challenges using smart contract technology and blockchain. The achieved success and the over a million strong user base indicates the feasibility of this idea. However, further development requires tremendous effort and top draw R&D (Research and Development) cycles.

Taking into account the volatility of cryptocurrency rate, up to 40% of the resources of the foundation will be hedged using the USD/EUR fiduciary currency, in order to ensure full functionality of the project for 18 months.

The figure below presents a budget scenario where the amount of raised funds is $5.000.000. For KPIs and more details please see the Roadmap section below.

Road Map

Conclusion

The Eristica project has been spearheading innovation in the realm of challenges since 2015 and has already earned the trust of more than a million users. The exponential growth of the platform is a clear indicator of the virality of content created by users plus the fact that videos with challenges are getting millions of views and encouraging new users to participate.

The FunTech industry is on the threshold of a new evolutionary breakthrough. While many market participants are still at the stage of comprehension of all those new opportunities that will be brought by blockchain and tokenization of the economy, Eristica intends to become a pioneer in creating a single platform for offline and online challenges.

The ecosystem of the platform will enable providers, developers, online services and community of the project to interact with each other through Eristica utility tokens.

Using an API, third-party game developers will get the opportunity to implement Eristica services in their products. Thus, the project will combine both classic offline challenges and online eSports competitions. Even a simple mobile game will be easily turned into a platform for mass competitions.

Users of the platform will be able to personally participate in online and offline challenges, make bets with famous bloggers, receive virtual rewards for successful predictions of the results of challenges. Moreover, they will be able to actively interact with third-party services and the services of a developed platform ecosystem.

Tokens will become a universal currency approved for payment both within the ecosystem and by the partners of the project. The ability to purchase tokens within the application will create a stable demand for tokens, which will positively influence the liquidity and growth of the value of the token. To increase the liquidity of the token, Eristica will work hard on listing tokens at the largest exchanges.

Team