Ethereum (forked) esports platform 'First Blood' completed crowdfunding in just a few minutes, raising $5.5 million

Crowdfunding initiatives in the cryptocurrency space are nothing new nowadays. Despite the efforts of developers and marketers to create promising products, not every funding round is a huge success. For ‘FirstBlood’, an autonomous decentralized app for the eSports space, their crowdsale was completed in just 2 minutes. But what does this platform intend to start with?

‘First Blood’ uses Ethereum (fork) technology for esports

The relationship between esports and cryptocurrencies seems to be becoming more and more obvious every year. The developers of FirstBlood have also been thinking along these lines, and they want to create a cryptocurrency ecosystem for games. Create a decentralized app on Ethereum (fork) that allows esports players to compete through a decentralized autonomous platform.

FirstBlood hopes to become a new global platform for esports players skilled in a variety of games. Participants can participate in competitive matches while other fans and players can witness the game in real time. Think of this platform as similar to Twitch, but it is actually much more complicated than that.

The ultimate goal of the FirstBlood platform is to allow esports players to earn rewards for their success in gaming. To achieve this, the FirstBlood team has created a token to be used on the platform, called 1SF. This token can also be used to host tournaments and vote as a jury member. At the time of the crowdsale earlier today, a total of 79,103,203.391 tokens were created.

This creates an interesting concept by creating an esports platform with a decentralized nature. The developers also used smart contracts to solve the reward structure problem, as the platform does not require humans to verify or participate in the process. A more graphic introduction to Firstblood can be found on YouTube.

It must be said that FirstBlood's crowdsale attracted a lot of attention. In just a few minutes, $5.5 million was raised, with a total of 465,312.999 ETH. However, the fact that the crowdsale was conducted so quickly is also worrying, because no one knows how much of the crowdsale amount was invested by the project creators themselves. Speaking of the FirstBlood team, it should be said that many people know Joey Krug, who works at Augur and is currently one of FirstBlood's advisors.