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Elements of excitement and competition always encourage users to spend more time in the games, increasing the level of engagement and provoding opportunity to win special rewards. That is why we will have in-game Tournaments for our users.
There are several types of Tournaments depending on who is their creator:
- 8.Finance: free regular ones and payable ones
- Our Users: they set an entrance fee (8G coins or 8F tokens) and launch the field
- Partners - Crypto projects. Two types:
Projects decide how to distribute income from selling tickets, but 8% always goes to 8.Finance platform. For example it can be:
- Projects hold contests in their social networks and reward the best participants with the codes that allow them to participate in Partner's Tournaments for free. Partners provide rewards for winners
- Projects hold Tournaments, provide rewards. Tournaments may be one-time, daily for a period of time. With free entry, with entry for only holders of the partner's tokens, etc.
- Projects hold Tournaments, but 100% or part of the reward's pool is formed by selling tickets to users. Users purchase tickets for 8F tokens or partner's cryptocurrency in our marketplace. Then participate in Tournament and winners receive rewards.
- 1.8% - 8.Finance commissions; 50% - rewards for users; 20% - Partner's income; 22% - to be burnt. So, this way projects may boost burning the tokens of their projects to improve their token performance
- 2.8% - 8.Finance commissions; 50% - rewards for users; 42% - to be burnt
8.Finance is the only project that helps Crypto Projects burn their tokens - sometimes it is vital for projects (even Ethereum devs are making efforts to make it deflationary).
- Partners - KOLs (Key Opinion Leaders, Influencers, Bloggers): to monetize their followers KOLs may run Tournaments between followers. They sell tickets to followers, decide which part of the raised funds goes to rewards and to themselves, then launch the Tournament.
- For example, Lucky is a KOL with 100,000 followers.
- He runs a Tournament with these terms:
- 50% of the raised funds from selling tickets goes to the prize pool
- 21% goes to Lucky
- 8% is the fee of the 8.Finance platform
- and he decides to send the rest 21% to charity (or he can just take 42% for him, 0% to charity).
- In total he sells 3,000 tickets for $10 USDT each (3% of his followers). Thus, he raises $30,000 USDT.
- After the Tournament is finished users win $15,000 USDT, charity fund receives $6,300 USDT, Lucky gets $6,300 USDT, 8.Finance receives $2,400 USDT.
8.Finance is the only project that helps KOLs monetize their followers by offering them participation in entertaining Tournaments.
Sometimes to take part and win in Tournaments users will have to meet some requirements depending on the type of Tournaments:
- watch a certain number of educational videos from us or/and our partners, and pass the Quizzes
- have snakes of the required levels
- improve their snakes (Snake Evolution), to increase chances of winning
- pay the entry fee in 8G coins or 8F tokens, or buy tickets for other cryptocurrencies.
So, Tournaments motivate people to watch more educational videos, spend more time in the game, help them earn more tokens, and increase the retention rate of the game.