“FirstBlood will be the first decentralized app, built on top of Ethereum, that allows eSports enthusiasts to compete in their favorite games through a decentralized, automated platform.”
FirstBlood completed it’s ICO in October of 2016 when Ethereum was trading at ~$10, raising $5M. In Spring of 2017 Ether spiked to a peak of $391 and has recently been hovering around $300. If they kept their funding round in Ethereum to this point — Firstblood would sitting on a $150M warchest.
Since their raise FirstBlood has built a team, launched a platform, and seen the value of their token spike to $2.05 and then settle at $0.66. The platform currently supports only DoTA 2 but they are teasing the addition of other games in the near future.
Nothing I’ve seen yet is revolutionary but the potential size of their warchest will allow them to experiment and pivot the product if need be. They’re also riding the momentum of the Ethereum developer community which could provide breakthroughs FirstBlood could capitalize on.
FirstBlood is following in the footsteps of ESEA, Gamebattles and a slew of other competition platforms in attempting to package a competitive skill based system. Before assessing the benefits of using a crypto currency for this service, it’s important to understand the intrinsic difficulties that come with operating such a service:
/01 Publishers & Developers have greatly improved their in game matchmaking and competition features [Edit: As well as the platforms themselves] .
Many other tournament platforms have been launched and shuttered (Virgin Gaming, XFire, Avyd, etc and from a user perspective the value provided by these services is not worth the difficulty of using an outside service. Yes you can get introduced to other serious competitors - but managing accounts, reporting matches and managing disputes is tedious - which in large part has prevented these services from scaling.
/02 Skill based platforms tend have sharks who prey on newer entrants. A few of the top players will take money from newbies, drive away the newbies, and ultimately stifle growth.
When I reached to reference the accuracy of the archived FirstBlood White Paper linked above a representative for the company said that there is no current White Paper for First Blood. This leads me to think that the product has pivoted beyond the vision that was shared prior to the ICO.