Gamifying Crypto Trading | Altcoin Fantasy | Cynthia Huang Interview (2020)
Cynthia Huang is CEO of Altcoin Fantasy which is a gaming platform for traders with rewards and prizes. With over 170,000 users Cynthia has certainly hit a sweet spot!
I sit down with her to discuss the business, it’s plans and how exactly it works. Don’t worry, it’s low risk!
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What we noticed in the space was that trading was really exciting for people. And that was how they were coming into crypto. But at the same time, in 2018 a lot of people were losing money.
And so we had this interest but also this high risk. And so we wanted to bridge the two. So we made it fun and easy for people to learn by making a game where they could practice and learn trading completely risk free because it’s familiar. And the best part is that they win real actual prizes like actually start trading with it right so there’s no risk.
The TraderCobb crypto show talking business in blockchain.
Ladies and gentlemen welcome to the TraderCobb crypto show fairly sponsored by zipmex.com.au go and check it out. I’ve got with us the lovely Cynthia, the CEO and founder of Altcoin Fantasy, which basically gamification for traders, right.
Yeah, exactly. So nice to meet you. Thank you so much for having me. I’m so glad I got to meet you here. Well, look, let’s do this. Explain to us what it’s all about and how it works.
So we are a crypto trading simulation game. And you know, what we notice in the space was that trading was really exciting for people. And that was how they were coming into crypto. But at the same time, in 2018, a lot of people were losing money.
And so we had this interest, but also this high risk. And so we wanted to bridge the two. So we made it fun and easy for people to learn by making a game where they could practice and learn trading completely risk free because it’s simulated. And the best part is that they win real crypto prizes, so they can actually start trading with it right so there’s no risk. Okay, okay.
I need to understand this concept better. Clearly. There’s no risk, no risk. So it’s a game. Yeah, I can win. crypto, exactly what sort of prize pools we talking about here.
At least $500 US every week, but often more because we work with partners and the giveaway really, really sweet prizes like you know crypto memberships, trading vouchers to so many different things. So we started 2018. So right after the crash perfect timing.
So do we, welcome to the club. Yeah. And it was great, though, because it was, you know, because there was a lot of noise. And you know, the bad project had run away we had to build. And so it was great.
We got to meet amazing people who were just really, you know, interested in adoption, wanting to push the industry forward and not build bad projects. And so we started last year, and just it’s been a crazy, crazy ride, like, just amazing.
How’s adoption been going for you guys? I mean, have you got a bunch of users on that that play against each other? Or,
Yeah. So they play against each other, you know, in our main competitions we have about anywhere from as many as 30,000 people compete. Yeah, so we have over 150,000 players on our site, and then they can compete one against one which is pretty cool.
And then we’re building in the game more game mode so that it’s even more social and interactive. So I can challenge you actually challenge me? yeah,
I feel like I gotta get some bragging rights like, oh, did you know I beat TraderCobb? Then I’m not doing it.
So in these one on ones … Are they just playing for the hell of it for the fun of it, is it prized in that or is it sort of to practice to get ready for the next tournament so to speak.
Both so you know, obviously you get bragging rights, but we do give away points basically, or sometimes real crypto because we want to make it rewarding for people. Because I think that’s the missing pieces.
You know, you have these demo talents on exchanges. But one it’s not fun. You’re playing against yourself. boring, but also there’s no feedback loop, right? There’s no reward loop.
And so that’s what we’re trying to do. And people love games like the gaming industry has become so huge using … on their phones. So we think that’s really the way into people’s hearts is through game.
We’re looking at it now. You got a big industry, you got cannabis. Yeah I’m from Canada so yay.
You got cannabis, you’ve got gaming and you’ve got blockchain, the three big ones right now where there’s a lot of focus on. You got to combine two together.
We’re just got to bring in cannabis then. Well maybe they need the players that are actually smoking cannabis, there are many legal place in the US. We’re not at all in Australia popping camera.
So what else is going on? Obviously, the games have been running the products working, you’ve got over 150,000 registered players. Sounds like it’s really taken off. How do you go? Where do you go from here just making more plays bigger prize pools, or is there other things you wish to add?
So you know, definitely that obviously, we’re always focusing on growing our user base. And just our main focus, though, is really driving crypto adoption, because what’s happening is that there’s a lot of focus on the technology.
And you know, of course, that’s really the backbone of crypto and blockchain, it’s going to the technology is going to change our future and how we do things. But I think there’s this huge lack of focus on consumers, right, because you have this amazing technology, but who’s going to use it, and so you need to get people to be interested in it.
Now. We’re trying to do is drive adoption in a fun way so that people you know, even outside of the trading if you don’t want to become a trader, yeah, you’re interested, you want to keep coming anyway, keep learning. So there’s entertainment value, which is I think how we’re going to get mainstream adoption to happen.
Simulating the markets or like, I want to understand the game side of it. Is it a market simulation type thing? Or,
Yeah, exactly. So you know, you’re trading in real time, basically. So what we do is we use real order book prices, real market data, so that it’s real time pricing, we’re trading, you know, minute, to minutes.
You get the same experience as if you’re trading on exchange but you don’t miss losing your life saving. Well, where are your where your players coming from for the most part, is there any region that you find it to be much more accessible?
So we have a global user base, we actually have at least one user from every single country around the world, which is pretty cool. 200 countries there’s only officially 195 or 190 recognized countries but we have saw, basically someone from everywhere, which is pretty cool.
And is there any area you’re focusing on because there’s more gamers, I mean, I don’t really know these things, genuinely wanting to know. Where does the gamers live?
All over but you know, our user base is primarily North America, Europe and then Asia. And I think Asia because, you know, there’s just so much excitement from people about the space about what crypto can do, because, you know, people who traditionally haven’t had access to finance, you know.
We hear from our users all the time, we’re so excited about crypto because it’s going to give us you know, more financial freedom that we’ve never been able to have before.
And that’s just really cool. And so, we’re really excited because we can be a part of that, you know, we can give people an opportunity to start learning and trading and, you know.
Can you imagine someone wins crypto from us, they go onto an exchange and they make you know, higher margins. Now, all of a sudden, they can quit their job like this just so amazing and that, you know, that’s the same thing that you guys are trying to do right?
Yeah we trying to teach people by giving them information, but I love the way you doing it because you’re bringing people in through, it’s basically like, okay, I don’t know what I’m doing, I’m gonna try.
But you don’t have to have any money to try and is their educational platform and how are you empowering people to learn how to do this be it trading with real money or not.
So we have content. You know, we have articles talking about crypto and blockchain are just very simple concepts. Our focus is on people who are very new to the space. So you don’t have the technical background, you don’t understand anything techie, you can still understand because we use very simple plain language.
We’ve actually partnered with CoinMarketCap to do some content as well, which we’re really excited about but we also have a video series. And of course, you know, we’re hoping to help work with you guys to get your content on our platform, because you guys are doing really awesome things.
I love the free resources that you have. And of course, like, you know, you have such an experience, background in trading and that’s what we need, right?
Anything is there anything else that’s happening that we need to speak of because after that I’m going to tell them where to go.
Yeah, so one thing that’s very, very exciting for us coming up is that Data Dash and I are are doing a charity trading competition. Oh, cool.
Yeah. So how this works is that we’re going to put up prizes for the competition and we’re hoping to attract as many people as possible to come and make donations and then we’re also working with a lot of partners in this space to give donations because you know, I think traditionally the the messaging around crypto has been there’s a lot of scammers a lot of bad actors in the space.
But you know, we want to change that we want to help people we want to do good in the world. And I think we need to start seeing more of that. And so we’re going to start with a first annual crypto painting competition. So hopefully, you know, we get tons of tons of people come in and make donations and play and learn and just have fun.
It sounds amazing. So how to people find out more about the project and yourself and getting into this competition.
So you can visit us at altcoinfantasy.com we’re on all social medias. Just look us up Altcoinfantasy. I’m on Twitter and LinkedIn. So feel free to reach out to me and then you ever have any questions? please shoot us a message and we’re happy to respond and try and help you. So hope to see you there.
Ladies and gentlemen, thank you so much for your time this is Cynthia the CEO and founder of AltcoinFantasy. You know today go and check it out. Have a fantastic day. The TraderCobb crypto show talking business in Blockchain.
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