Place/Date: Tortola, British Virgin Islands - January 17th, 2018 at 2:32 pm UTC · 4 min read
Contact: Octavian Batca, Source: FootballCoin
The cryptocurrency powered football fantasy manager game, FootballCoin was conceived in 2016 with the goal of bringing t ogether two worlds: the cryptocurrency market and football fans worldwide. Simply put, anyone can play the game and win native XFC tokens, which can be spent either in the game or in the cryptocurrency market.
The entertainment tech startup is rewarding its supporters with a 3 to 1 token conversion rate to all it’s XFC token holders when it switches to its own native blockchain.
XFCCOIN, the game’s cryptocurrency was initially available on a Counterparty platform.
This was a good solution at that time, but with the game gaining popularity, issues like high costs, slow speed and the difficulty of trading XFCCOIN on the exchange services had to be addressed.
2018 kicked off with good news, on January 16th FootballCoin launched it’s very own blockchain and exchange to support XFCCOIN (from now on known simply as XFC). In addition the new wallet will support both XFC and game assets – player cards and stadium cards.
FootballCoin analyzed other options such as moving to the Ethereum platform, which would have been easier, but would not have been a real improvement to our current situation.
For this reason FootballCoin believed that the solution was to devise its own new user-friendly blockchain. The company contracted ANX International to develop the exchange. ANX will also provide and help manage the DigitalTokens.io exchange. It’s important to know that both the exchange and the game are set on the same blockchain.
FootballCoin will provide a 3:1 conversion of XFCCOIN from Counterparty to the new blockchain. In other words, anybody who now owns 1 XFCCOIN will receive 3 XFC when the swap to the new blockchain is implemented. If your XFCCOIN is stored in the Counterparty platform, token holders will need to move it to the game account to benefit from this conversion ratio.
The conversion keeps the same ratio for the player cards regardless of rank.
For example, if a player owns a card of Harry Kane, before the transfer, they will now own three Harry Kane cards. These cards can be sold, used for the game or traded on the platform. Stadium cards owners will get to keep their cards and also receive a nice amount of XFC, as follows:
For example, if you are the lucky owner of a Santiago Bernabeu stadium card, you will receive 500,000 XFC, and keep the stadium card after the swap. All conversions will start automatically on Tuesday, January 16th.
XFCCOIN was generated in a limited supply of 1,000,000,000 units using the Counterparty platform, and the total amount will remain unchanged after the swap. The 200 million XFCCOIN that were initially distributed will now become 600 million XFC on the new blockchain, according to the 3 to 1 swap.
The remaining 400 million units will be distributed according to the initial plan:
The swap benefit will therefore give existing XFC owners a higher stake in the FootballCoin economy. They will have the largest influence on how the market develops.
But – to quote a popular superhero franchise – with great power comes great responsibility.
They will now need to act responsibly to ensure the development of the FootballCoin economy and stimulate the growth of the game, which we are very confident they will do.
We, the FootballCoin team, are very happy we could offer this token of respect and appreciation to our initial supporters, as we are looking forward to expanding and improving our platform functionalities and game features. We believe in the future of our gaming platform and its global adoption.
FootballCoin is a blockchain fueled football manager platform created by Crowngem Limited, a British Virgin Islands-based company. The privately funded platform blends cryptocurrency technology with traditional fantasy sports to create a universal gaming solution for users across the world.
Disclaimer: FootballCoin is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.