Before I get into this $BLK coin review I will quickly go through WINk ($WIN) and TRONbet. By the way, I am in iGaming professional (10+ years in the online gambling industry). WINk is a decentralized online gambling platform. It is built on the TRON chain and was originally named TRONbet. Later renamed to WINk. The gambling platform enjoys instantaneous gameplay thanks to TRONs ultrafast network. WINk benefited from the large TRON community when launching and has since grown into one of the largest communities in the blockchain space.
WINk always strived to become available across several blockchains. This is where the Binance Smart Chain and BLINK come into play. BLINK ($BLK) is the first large-scale DApp to launch on BSC. Today it is the largest online gambling platform on BSC.
The choice fell on Binance as they always supported WINk. $WIN was the first gaming IEO to launch on their launchpad. BLINK runs alongside the existing WINk platform but is a separate site. All betting is in $BNB and the plan is to grow the BLINK platform to offer the same variety of games as we currently find at WINk.
You can read the BLINK whitepaper here.
At the time of writing, BLINK has the following games added to their platform:
At the time of writing, WINk has the following games added to their platform:
The gap between the two platforms is quite big at the time of writing. But more and more games and products will be added to the BLINK platform which will benefit the $BLK coin. What is most important is that both platforms have online gambling licences.
Users of BLINK can enjoy the same kind of perks that WINk users have enjoyed for the past two years. Users who freeze their coins are eligible for coin drops on a daily basis based on the revenues generated from all games played on the platform. Freezing is essentially the same as staking. Each section of the site pays a certain percentage to the platform's Windrop pool. The pool accumulates during 24h and then distributes the total gains to frozen coin holders on the platform.
Of course, if there are negative revenues on the platform, no gains are made which results in 0 redistributions. However, online gambling is a highly profitable business. 99%+ of the days end in profit as long as there is a reasonable amount of turnover across all verticals.
Both platforms are licensed by:
Online gambling licences are needed to legally offer online gambling services. Each license is issued by a regulatory body that ensures that the platform is secure, that all games are fair, that payouts are guaranteed and that a responsible gambling policy is implemented to safeguard the player's wellbeing.
Remote online gambling licences like the ones issued by Curaçao and Costa Rica are common in the iGaming industry. Many smaller island nations provide a legal framework for online gambling. Other popular licences include Malta Gaming Authority and Gibraltar Gaming License.
That $BLINK and WINk have managed to obtain and keep their licences shows that the platform is legitimate and can be recognized as trustworthy and safe to play at.
With the licences, BLINK can integrate to premiere iGaming providers like:
This will enable a 360 online casino suite including slots, table games and live casino games. And of course, the option to integrate a sports betting provider to offer a sportsbook.
The in-house games from the team, like Moon, Ring and Duel are already approved and should be integrated into BLINK shortly.
An important step to improve the online gambling platform and increase the utility of $BLink is to of course close the gap when it comes to games and products. As highlighted earlier, currently there are only Dice and HiLo games available on BLink.
They are working on closing the gap between WINk to offer the same game experience, which means the addition of:
Currently, it is relatively difficult to buy $BLK compared to e.g. $WIN. The only way to do it is to swap $BNB for $BLK on e.g. PancakeSwap.
Adding $BLK coin to Binance would be huge and is guaranteed to increase the price and market cap of $BLK considerably. The team has already mentioned that a listing on a "world-class exchange" is incoming in Q1 or Q2 of 2021.
Binance has always supported WINk. BLINK is the largest gaming project running on the Binance Smart Chain. Putting one and one together here makes me draw the conclusion that a $BLK coin listing on Binance is imminent.
Currently, it is only possible to bet with $BNB. Providing more options to deposit and play at the BLINK online gambling platform will increase the number of users. A typical online casino usually has 10+ payment methods available. Giving players more options to play in the platform will increase the number of users.
WINk as an example allows several cryptos, including:
Adding fiat payment to the platform would allow for even more adoption as players could deposit directly with their credit/debit card or any other fiat payment solution.
Another thing I noticed is that WINk has an improved UI compared to BLINK. Expecting that BLINK will improve their UI to better replicate that of WINk which will improve the user experience greatly.
Performance should improve as well. Tested the load times for each site and there is a significant difference, and room for improvement for BLINK.
I would expect such a launch would coincide with another major content release. New game/s and/or integration of game provides to extend the platform with casino and/or sports betting suite.
A quick check on DappRadar showed that BLINK has actually seen a lot more adoption, despite having an inferior platform compared to WINk, over a 30-day interval:
BLINK has 18.34k users vs 8k users on the WINk platform.
The total value of assets on the BLINK platform is massive, $31.86 million compared to WINks $1.40 million.
Once there are more games on the BLINK platform we can expect that the number of transactions and the volumes sky-rocket in relation to the number of users.
BLINK is cheap at the moment even with a 178.28% gain over the last 24 hours. The price of $BLK at the time of writing this $BLK coin review is $0.1434. Giving it a market cap of $26 million. With current dilution and a modest increase in price to $0.55, we would have a $100 million market cap.
Currently, WINk has a market cap of $676 million.
Given the usage statistics of the two platforms, it is not unlikely that transactions and volumes will skyrocket once the platform is improved. Which would make a market cap at the level of WINk realistic. To get a $676 million market cap with current dilution, $BLK would be valued at $3.75.
That is a 2515% increase from today's level. To be honest, I am happy if we just get a modest 10x from here on. But I like the potential upside of $BLK at $0.1434.
I stepped into $BLK a couple of hours ago after it had already seen close to a 100% gain. I bought into the project after checking around 50% of what I wrote about in this $BLK coin review. The upside was clear from the beginning. A 2515% increase is, in my eyes, not very realistic. I bought with a modest increase to %0.5-1. I hope this write-up gives you a better understanding of the project.
I am by no means an expert, so I would not take this as financial advice. My hopes are that it will help you make a more informed decision of if/when to buy $BLK. If you want to buy $BLK before it gets a potential listing on Binance, here is how you do it:
Since no exchanges currently list $BLK, you need to go through a slightly longer process than simply buying it off of Binance or Coinbase.
The process of buying $BNB, transferring to BSC wallet and swapping them for $BLK on PancakeSwap is done in 5-15 minutes (depending on how tech-savvy you are). I can assure that anyone can do it though, so don't be scared of holding off if you decided you want to buy into $BLK.
