Rumors from the pub
The Eristica – promotion of the crypto-economy among young people

The project concept

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.
The users of Eristica will get the opportunity to create completely different types of challenges, including competitions in online games, offline bets, as well as mass competitions, which is a unique advantage of the project. One other great feature of the platform is the freedom afforded to users when it comes to choosing the number of participants and members. There may be one-vs-one,

one-vs-many and mass competitions.

Synergy

Eristica will also create a platform where different types of people can interact with each other thus creating a level of synergy in the process. The young demographic who perhaps have never dealt with crypto-currency before, will get an opportunity to try the products and services in the crypto-industry. This will create a new inflow of users and speed up the process of introducing crypto-currency into the masses.

CONTENT MARKET IS GROWING

The online video market in 2017 for the Asian region was estimated to be worth $13 billion. The share of challenge videos is approximately 4% or $510 million. It is estimated that by 2021, the entire online video market will cost $35 billion, with a $1.4 billion share of Video Challenges, respectively.

The Eristica cryptocurrency

The main mission of the Eristica project is to create a full-fledged crypto-economy in the digital entertainment space where tokens are the main tool for all interactions within the digital ecosystem. Eristica intends to use crypto to make the democratization of challenges economy, including creation, participation and rewards for challenges more efficient, fair and affordable.

Estimates and predictions of Eristica are based on Metcalfe’s law, which states that: “The utility of the network is proportional to the square of the number of users of this network ≈n2.” 1.2 million users of the platform will add value to Eristica tokens.

 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.  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 various 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.

Cryptocurrency adoption among mass audience

The first active users of cryptocurrency were professionals in the field of IT and cryptography. Initially, mining of bitcoins wasn’t profitable. It was more like a guiding light, a starting point for an acquaintance of all newcomers with new technology. The Eristica project considers the promotion of the crypto-economy among young people to be one of its main goals. The project is thus looking to bring in millions of young users to the crypto world. The first won tokens will be a new starting point for the future generation of
crypto-enthusiasts. And you never can tell, some of them may end up being future founders of projects like Ethereum!

 

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