It’s time to welcome a new important person into the Bountie fold, Bountie Hunters. Say hello to tech advisor Svetlin Nakov.
Svetlin Nakov is a technical expert from Bulgaria who is solely focused on blockchain, education, and decentralized computing. With 20 years in the software industry, he is an experienced software engineer and trainer. His list of achievements includes being a champion in programming olympiads in the 90s and co-founding of one of the largest tech-training centres in Southeast Europe called SoftUni. He also holds a PhD in computer science.
He holds a tech role in two successful ICO projects: LockTrip and Academy School Of Blockchain. His role in Bountie means that he will support the upcoming platform and its inception from a technical perspective, as well as review its technical architecture, its blockchain tech, its security, and its other elements like blockchain transaction, transaction fees, and instant token transfer.
We are featuring his recent thoughts about Bountie from his personal blog.
When I evaluate ICO projects and blockchain startups, I mostly analyse several important things:
By my experience, the above are the most important things to consider when you analyse if an ICO project will be successful on a long term. I do not involve myself in fake projects or projects with the low potential to be successful, not just as ICO, but as a product/service/value they provide for a long-term period, after the ICO.
Generally, I think that most of ICO projects on the market will not succeed, because they do not match the above-listed criteria, but the token mechanics, blockchain and decentralization as concepts will have a huge impact on the business and the society in the next years. That’s why I am involved in the blockchain tech community.
I think Bountie’s token mechanics will survive after the ICO because:
Bountie will build a big and strong gaming community, because it has very experienced team and solid partner network and because it provides a cool product for the gamers. Partners will want to access this gaming community for their promotions, gamers will be happy to be awarded and paid for their achievements, so I believe the token economy in the Bountie ecosystem is valid and valuable.
The team behind Bountie is solid, experienced and highly motivated. When I visited their office twice in Singapore (in May 2018) I found them hard-working late in the evenings, in a small startup-style office, with strong team spirit and passion to build a successful ICO.
In ICO projects, the marketing team, experience, budget, relations, and partnerships are the most important thing during the ICO (token sale) phase. You should have a good product, but you should sell it well, and this is even more valid with ICOs. The marketing team behind Bountie is really strong and experienced.
The market demand is strong and the gaming market is really huge. Ask the gamers “who want to be paid to play games?” and check the responses. Ask the game producers, publishers and game marketers “who wants to pay to access a strong gaming community?” and most will answer that they are currently paying for this, but they want to improve their budget efficiency. I believe that the market will accept the token mechanics and the opportunity to use the blockchain in the gaming industry is huge.
The Bountie product, in its first few versions, is simple: instead of building a technical platform and software integrations with hundreds of games, Bountie will use people to organize and judge the game tournaments through the Bountie platform and will implement token transfers between the participants in the platform. This is not very complex, so the technical risks are not big. Still, technical challenges like maintaining a solid level of security, the transaction fees and blockchain scalability remain and technical solutions will be provided during the project evolution.
I am convinced that the Bountie project will be successful as blockchain tech startup, because of the following:
Thanks for your time, Svetlin! We look forward to your contributions at Bountie.
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