Being a casino is no simple task. Anyone who has ever watched the 1995 film Casino by Martin Scorsese knows that running such an establishment is a double-edged sword that is both perilous and glamorous. DAOBet (ex — DAO.Casino) is in no position for vying for the title of the Caesars Palace or the Bellagio, as we are a high-tech company aiming for the development of a blockchain, not a casino.
While working on the DAOBet concept and technological infrastructure, the development team was faced with a wave of misunderstanding regarding the issue of product positioning. DAOBet is often being mistakenly perceived as an online casino, given its namesake. However, nothing could be farther from the truth.
It’s All In The Name
The name DAOBet, popular and well-perceived as it may be, oftentimes gives rise to disambiguation both within the community and when working with partners and the media. DAOBet is all about developing a unique technology, and the development team believes that the brand should be able to convey such an image and perception of the DAOBet Blockchain from the very first impression.
It was therefore proposed, a considerable amount of time ago, to undergo a rebranding process and shift the name of the project to one that would be able to more accurately reflect the essence of what we are doing. Our project is about creating a unique technology that will allow both the blockchain and the gaming industries to take a giant leap forward.
The What And How Of It
DAOBet is all about developing a unique and very special blockchain infrastructure for the gamers, the heart and soul of the gambling industry. Though casinos based on our blockchain are part of the gaming world, and an important one at that, DAOBet is not a casino in itself. It is an infrastructure for the gambling and other gaming sectors.
Such literal naming of the blockchain has resulted in improper product positioning, and that can lead to undesirable consequences, including for the community. The development team is fully responsible for the growth and positioning of the product, and since the community is the main pillar of support, it is with the interests of the community at heart that such marketing adjustments have to be made.
All those being first introduced to DAOBet and those reading or receiving any manner of information about the product must be under the immediate impression that it is a technological infrastructure, and not a gaming established. The current name has proven to be counterproductive in this regard.
Our aim with the new naming endeavor is to lead all interested in the product to learning that the platform is releasing the DAOBet, an EOS-compatible blockchain. The advantages of the technology must instantly correlate with the name and convey that the platform offers quick finality and up to 100 validators for decentralized DApp governance, DApp launch capabilities and much more.
Considering the great number of competitors in the blockchain infrastructure domain, DAOBet has solid competitive advantages if compared to other projects. Above all, the DAOBet Blockchain is already in the TestNet phase. By combining a number of vital features with high-end performance characteristics, the DAOBet Blockchain is currently the only platform capable of catering to the gaming and gambling industries.
With the competitive advantages in mind, it is important to note that the DAOBet Blockchain’s technical characteristics allow it to dominate the gambling market. All decentralized gambling applications aiming to attract the developer and the gamer must be based on a stable code base, one that the DAOBet Blockchain can provide. By building the platform on the EOS.io open-source DApp platforms, transaction throughput and latency are ensured along with the inclusion of the WebAssembly-based virtual machine and a fully operational blockchain basis.
The DAOBet ecosystem is not just for gambling and gaming, but for all users willing to take part in the staking system and building decentralized apps. The staking-based token economy is designed to increase the token supply while ensuring efficiency through the attraction of Delegators and Validators. Such a self-regulatory system rewards effective participation, increases the efficacy of random number generation, increases the overall security of the system, and raises the unpredictability level so vital for gambling.
Not the least of the factors influencing the decision to go forward with the name-change is that the Mainnet launch is scheduled for the end of Q3 of 2019, and will be attracting heightened attention to the project. When becoming the first and fully operational gambling ecosystem, everything must be perfect, starting with the name.
A question that instantly arises in the minds of those analyzing the full scale of the misname dilemma is why the name-change has to be undertaken at the given time. The question is fully justifiable and understandable. Those not fully aware of the plans lying ahead of DAOBet may justly start suspecting wrongdoing.
First and foremost, we would like to clarify that marketing and product positioning are the heart of this decision and are fully justifiable steps to ensuring successful platform development and perception.
Secondly, DAOBet is preparing for a series of important announcements. Given that the events that lie ahead are of vital importance to the project, it is crucial that the underlying information background surrounding the platform and its supporting branding be impeccable. Therefore, now is the right time to start deciding on the final style and name of the project.
After evaluating all the pros and cons of the situation and the solution, the development team has decided that a name-change will help avoid confusion in the future and protect not only the team, but also the community from undesirable associations of the project solely with the gambling industry.
The aim of effective marketing is brand recognition. When shopping, buyers do not even read the labels on famous brand packages. The reason is effective product positioning, which starts with correct product naming.
It is the same in the blockchain industry. The name of a project must reflect its essence. It is true that DAOBet is about creating a platform for gambling, but it is not a gambling project in itself. And that is why the development team has moved forward with selecting a more appropriate brand name for media, marketing and product position purposes.
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