With its platform live, NoLimitCoin is gearing up for the World Series of Poker with a series of Promos aimed at sending NLC players to the main event in Las Vegas. We caught up with the NLC Team to Find Out More.
Please could you give us the background on NoLimitCoin and what is it aiming to achieve?
NoLimitCoin has been perfectly designed for a wide range of gaming applications because of its super fast transaction time and low fees. Our own fantasy sports platform (www.cryptofantasysports.com) is powered by NoLimitCoin. We are the first online platform to harness an efficient blockchain technology that introduced a cryptocurrency to (Daily) Fantasy Sports and it’s running right now.
No Limit Fantasy Sports provides the opportunity for people all over the world to experience the joy of playing fantasy sports without the strict regulations and high expenses that are characteristic of existing fantasy sports platforms.
We also have our own no rake poker platform which is powered by NoLimitCoin, you can find more information right here.
What problem are we solving for our customers?
High fees for users – The current fantasy sports industry charges high fees of 10-15% or more.
Poker rake fees – On other platforms rake fees 2.5% to 10% of the pot in each poker hand.
Slow transfer of funds – Withdrawals of player funds take a long time.
Slow & complicated verification – Requires ID, proof of residence, Social Security Number.
What kind of problem is it?
Money – Users are paying high fees which takes away from their winnings and makes it hard to be profitable.
Time – Withdrawals of player funds and winnings can take 2-8 days, or 2-3 weeks via cheque.
Effort – Players are required to submit to tedious verification procedures in order to deposit or withdraw their funds.
The application of cryptocurrencies and NoLimitCoin will transform the poker and fantasy sports industry by enabling us to provide a fast, secure and cheap method to fund and reward player accounts.You can read more about this in our whitepaper.
Could you run through the team behind NoLimitCoin?
RAFAEL GROSWIRT (CEO)
A telecom veteran for over 20 years and multiple successful telecom ventures with 10 billion completed calls with all of the sold and deployed systems. His love for technology and sports led him to develop and patent one of the first automated poker tables featuring Johnny Chan as one of the partners. In November 2014, No Limit Fantasy Sports, LLC was formed and began to introduce a set of new tools and games related to Fantasy Sports. Two years later, during the development of the No Limit Fantasy platform, the ideal pairing was created with the cryptocurrency, NoLimitCoin. NLC2 was designed to power fantasy sports platforms like ours and others.
OSCAR PERALTA (Co-founder of No Limit Fantasy Sports and NoLimitCoin)
Peralta is a 20-year technology veteran who has raised over $7M which he invested in gaming platforms and telecommunication companies. He has worked with Rafael Groswirt for over 10 years and shared a successful exit with investment to Poker Automation LLC. Peralta arranged the capital needed to grow No Limit Fantasy Sports and NLC2 coin project initially using his existing partnerships.
To get a more detailed breakdown of our team you can view our team section of the NoLimitCoin whitepaper here.
with our brand ambassador Johnny Chan, we will attempt to change the online poker industry by offering No Rake and giving players the chance to actually be profitableNoLimitCoin
What are the core features of your poker platform?
The main feature of our poker platform is that it has No Rake on cash games and that is powered by NoLimitCoin (NLC2). By using NoLimitCoin on the platform players can move money in and out of the platform instantly coin transfer, with no fees and also not be charged any rake while they play. Together with our brand ambassador Johnny Chan we will attempt to change the online poker industry by offering No Rake and giving players the chance to actually be profitable. The NoLimitCoin Poker platform is fully web based with no install files needed and is runs on all browsers and is fully mobile responsive.
The platform provides options for players of all stake sizes, from micro to high-stakes. Our main goal is creating demand for NoLimitCoin (NLC2) and offering a premium experience for our users. Our great partnership with an experienced and tested poker platform allows us to offer our poker players No Rake, which is an absolute game changer.
How is the poker product performing? What sort of user base and volumes is NoLimitCoin achieving?
The poker platform has been in development for around 9 months and has been in beta as we build it out with all the features that we need. Currently we have been beta testing with our internal group of users and community members and have reached hundreds of active players at times and we had 500 players for last year’s freeroll tournament to the WSOP Main event.
The platform is now at the stage where we are planning to begin marketing and bringing players to the platform. We will be focusing on the 2019 Main Event as we will be running a large number of satellites with the goal of bringing a large number of people to the main event. Players will be able to win an all inclusive package to the 2019 WSOP that includes a main event entry ticket, flights, accommodation, food and some spending money. We hope to bring not just one or a few people to the Main Event, but many. The reach of the platform and crypto as the common currency allows for players from any corner of the world to participate. If there is one virtue that stands out in crypto for our model, is the fact we have players from over 50 countries and growing.
You are expanding into other areas, such as e-sports. What is the thinking there? What else is on the roadmap for 2019?
In the roadmap for 2019 we will be releasing a fantasy sports app for android and ios, launching the Baseball MLB 2019 Season. We will be launching our Esports platform, as well as building out other sports including MMA and Cricket. For a more extensive look at the roadmap you can view it here. In the future we will also be adding further gambling games to the roadmap, like dice and others.