2019 DECENT.bet Year-End Wrap-Up
Thank you for all of your support during an incredible 2019.
A year ago, we had just launched our mainnet slots. We were all very proud of the product – from functionality to how the community became involved generating skins for it. However, regulatory hurdles created costs and market limitations that were prohibitive to larger growth and adoption.
Flip the calendar 12 months, and we’ve launched a p2p esports product on the blockchain with a seemingly limitless market size and fewer regulatory costs and hurdles.
In this year-end wrap-up, we’re sharing some new data for the first time, along with product updates and plans for 2020.
playDECENT.gg: How Far We’ve Come
In January, we formed a partnership with eSports platform PlayVIG. Our product team began working around the clock. We launched the beta of playDECENT.gg at the VeChain Summit in April. At the time, we had integrated one game: Hearthstone.
We had four games scheduled for our June mainnet launch. Our product team worked very hard though and ultimately delivered six:
- Dota 2
- Rocket League
- Apex Legends
Since then, we’ve superseded roadmap goals and our own expectations again and launched:
- Magic: The Gathering
- League of Legends: Teamfight Tactics
- Rainbow Six
The product itself has come a long way since April as well. Along with continuing to improve its overall performance, new product features added include:
- UI/UX improvements
- Referral program
- Reward Node program
The biggest hurdle for mass adoption of playDECENT.gg is the current complexity of adopting blockchain-based offerings due to wallet and exchange requirements. For the average customer who is not well-versed in crypto, these are massive obstacles.
We have continued to fight and challenge the current adoption conditions and figured out how to solve the issue: launch a fiat-to-dbet wallet solution (more on this shortly).
We anticipated friction until a fiat-to-dbet solution was implemented, and created projections accordingly. However, even with that friction point, we’ve been blown away by our early growth:
- 6,100 account sign-ups
- 6.8M DBETs paid in prizing
- Approximately 15% month-over-month growth in quests played
Upcoming Product Roadmap Check Points
Coming up, our tech team is focused on the following features:
- Tournaments: We’ve been working closely with our partners at PlayVIG to roll out a tournament feature that will greatly expand the potential audience size and overall gaming options for the platform.
- Fiat-to-DBET wallet: We’ve formed our partnerships to integrate this solution in our wallet. We have some exchange speedbumps that we’re currently working through. However, this is a top priority in our development pipeline.
Adjusting for Market Conditions
While our tech team continues to advance the platform, we’re making necessary adjustments as a company based on current market conditions.
We’re in the longest bear market in the history of crypto, basically doubling the previous downturn. What has felt to us all like a never ending crypto winter has affected everyone. We have not been immune either.
Streamlining staffing and expenses during this time is critical.
In order to adjust for these circumstances, we are actively exploring both financial and strategic partners.
Simply put, we want to ensure that our product is well-positioned for when the bear market turns. We have no doubt it will go bull again and are doing everything we can to put ourselves in as strong a position as possible with people, partnerships, and finances to take advantage of it.
We’ve been hesitant to update the product roadmap as some of the immediate key product launches involve elements that are partially out of our control. However, we do anticipate that tournaments will be launched in Q1 of 2020.
The fiat-to-dbet wallet solution is awaiting partner approvals. Once we get the greenlight, it’s an approximate two-week process to have it launched. All of the up-front integration work is complete.
When the wallet is launched, we’ll begin influencer marketing campaigns with an eye towards mass product adoption.
That’s it for 2019. The coming year will be challenging. We will make the right decisions as a business to ensure our platform can sustain as long as possible and we can reach the point of true mass adoption for ourselves and blockchain technology in general.