ZeroSum: Blockchain Based Fantasy Trading
ZeroSum - A blockchain based fantasy trading platform that allows individuals to demonstrate their skills in a competitive peer-versus-peer format where traders can create and participate in competitions that require a measurable skill in a given subject matter.
With growing demand comes growing competition, and when considering the competitive nature of companies who are currently challenging the norm and using blackchin technology across various industries, it’s no surprise that revolution has crossed over into fantasy trading.
CoinFT caught up with ZeroSum Founder & CEO, Lawrence Richardson II:
WHAT WAS THE INSPIRATION BEHIND STARTING ZEROSUM & THE ZFX TOKEN?
"The inspiration came from traders who were actively trading in the Forex market, and who realized that the "little guy" - unless they really knew what they were doing and had a lot of capital - really didn't stand much of a chance against them. You've got to remember that these Wall St. Traders ran HFT Brokerages (High-Frequency Trading), and were managing billions of dollars in trades. With their information, access, and technology - they realized there was little chance for the average retail trader to do well against them. So, they decided to create ZeroSum to help offset that, help retail traders learn, experiment and develop strategies before entering the market."
HOW ARE BOTH PAIRED?
"ZeroSum is the trading platform - where users can find, create, and enter in Forex and cryptocurrency competitions. ZFX is the token that allows them to enter competitions, earn rewards for winning competitions, and get paid out (you can take ZFX to the exchanges and trade it into cash). ZFX will also be the method that allows users to get paid out if they contribute to sentiment data feeds."
WHEN WILL A FIRST VERSION OF THE PLATFORM BE AVAILABLE?
"The platform is already live, and has facilitated 1000s of trades since 2016. The Token Sale is to further enhance the platform and build out the ecosystem."
WHAT ARE THE CURRENT DETAILS OF YOUR ICO? WHY DO YOU FEEL THIS IS THE RIGHT TIME?
"The ZFX Token ICO goes live on January 3rd 2018 - and will run until January 17th 2018. Investors can get ZFX in bonuses if they enter early - up to 50% of initial investment. If you look at the cryptocurrency market today - the swings are just insane. Bitcoin broke $20,000USD / coin, and ETH has topped $800. Transaction costs on trading Bitcoin are pushing $20/transaction already - and there are so many problems with the exchanges going down or not being able to handle traders requests. Factor in the futures market that was just approved - and you get an environment that is eerily similar to the regular markets, with a lot more problems for the average trader. Now is the time for new traders (or seasoned ones) to experiment with strategies, learn about the markets, and develop their expertise - without entering the markets just yet. Now is the perfect time to launch our the ZFX Token, launch our ICO and get more people on the platform."
WHERE DO YOU SEE THE PROJECT IN 1 YEARS TIME?
"In 1 years time ZeroSum fully expect to have 1000s more competitions, new prediction markets, and new trading environments that are based off of reliable data feeds. We're moving the platform in a direction that will allow competitions on any subject with a data feed - which is exciting. We're also looking to have our first sentiment data feed out - whereby traders, institutional investors, brokers etc. - will be able to pay users for the trading data they create."
WHY SHOULD I INVEST IN YOUR ICO VS HOLDING BITCOIN?
"Great question - the ZeroSum platform is already built, and already has users on it. It's been up since 2016. The ZFX token will have instant applicable value in the marketplace AND has massive potential to grow in value as it will be required to enter competitions, pay for data feeds, and as ZeroSum adds more and more competitions based on reliable data feeds. Imagine if you were offered the opportunity to get in on Bitcoin when it was still $1? Would you take it? ZeroSum and the ZFX token is going to make waves - and will continue to grow into the future. Hope you're a part of it."
For further information on ZeroSum and the ZFX Token please visit: http://zfxtoken.com/