Game Related ICO’s Explained

by Klaus on April 23, 2018

in Cryptocurrency, Gaming

An ICO is an abbreviation for Initial Coin Offering. It is a crowd-funding method involving the sale of digital tokens to investors in exchange for tokens. The tokens are what we would refer to as shares in the normal fiat investment. Possession of token denotes taking part ownership of the company. These tokens are put up for sale in digital exchanges.

Gaming ICO’s

The Gaming industry is witnessing tremendous growth as researchers develop new tokens that will revolutionize gaming cryptocurrencies. While they are structured and operate similar to other ICOs, these innovative ways offer additional incentives for investors. This is a perfect opportunity for would-be ICO investors who have no prior knowledge of blockchain technology to learn. Generally, the workings of these gaming ICO’s follow this pattern:-

  • Gamers choose a game and pay tokens to access the gaming platform;
  • It doesn’t require high expertise to receive Developer’s tokens
  • Tokens are available to crypto investors through gains from predictions of successful projects.

In a market where ICO’s are seeking the attention of potential investors and on the flip side, investors are seeking the right opportunities for stable and vibrant investments, the elements of stability and growth should be upheld.

Why opt for gaming?

Investing in Initial Coin Offering (ICO) is in itself no different from engaging in gambling. The speculative nature of cryptocurrency means it’s a game of chance. It is, therefore, even more, appealing to opt for a token whose value is already attached to a given use. The risks associated with ICO investments don’t reduce when you buy gaming tokens.

However, the investor has the added advantage of investing in a rapidly expanding industry. And blockchain solutions to gaming challenges will continue to be developed, further strengthening the sector.

Opting to participate in an initial coin offering that specializes in the gaming industry accords you the opportunity to diversify your portfolio.

  • Other than being able to use the token to access the game, investors directly affect the value of the token coin. The more the gamers interact with the game, the more they make it useful and valuable.
  • With the advancement of gaming software, more and more developers are able to code games that support the world economy as gamers use cryptocurrencies or tokens for in-game purchases.
  • These tokens are also tradable, earning holders profits.
  • The native currency used to buy in-game assets is also useful when incentivizing players. The goal is to help encourage more gamers joining in and develop a loyalty order.

Gaming tokens allow for the development of platforms that offer privacy. This is because you don’t need to provide identification documents, or in some cases, without the need to create an account.

Here are some of the coin offerings that based their token on a game.

Nitro

Nitro is a blockchain based platform which allows participation in video game economy. It connects stakeholders onto an integrated platform. Stakeholders include gamers, game studios, publishers, and financiers. The gamers, who are usually laymen, are offered the opportunity to become financers by participating in the game economy through getting an in-game incentive engagement and ultimately get rewards from the industry as token holders.

Game Credits

This is among the pioneers of the game in cryptocurrencies having been in existence for over three years. The game is played online. This platform has the ability to create and draw invoices while playing the games. To make a payment on the invoices generated, one has first to leave the game so as to access a web browser.

Enjin coin

This is very popular to the point of being called the “Ethereum of gaming.” The beauty of this gaming platform is that it provides users with the opportunity to exchange tokens with game assets. They can then turn the same assets into Enjin coins at will. In the future, players will access Plugins that help them have unique web-based experience with the game. The developers behind this game want to make it the leader in in-game asset liquidation.

Oren

In this ICO program, the gamers are paid for spending time playing a game. The second way of making money is to create a host of nodes with the purpose of distributing revenue between developers of the games based on bidding mechanisms.
The Oren team is ambitious and intends to take on Ads, Smart Contracts and a host of many other activities.

MobileGo

This branched off from the GameCredits. It is created with the intention of helping users to bypass the huge fees that traditional App stores charge. This is achieved by a provision in the technology that allows choosing from a select group of games. It works both on a desktop or mobile. Players can install their games through this app store, and payments for games are made via the Ethereum token. Game developers stand to gain as they earn more.

HEROcoin

HEROcoin revolves around three types of users:-

  • Token holders – these receive a passive income from streaming from all game pools.
  • Players – Receive tokens of their portion if they play and win the game.
  • Game Creators – these receive rewards for facilitating and managing each game.
  • The HEROcoin platform is decentralized.

UniKoin Gold

This is a betting platform that creates ERC20. It is a casino chip payment token with decentralized betting which bypasses legal regulations of the states involved.

Unikoin Gold token helps gamers participate in eSports by betting. Users can then earn prizes from their winning bets. At the moment, Unikrn aims at becoming the best platform in the gaming industry.

You may have come across a gaming ICO that excites you, learn more about it and improve your knowledge

Other game-based ICO’s that are either coming up or are ongoing include:-

  • Gameflip
  • IQeon
  • Cappasity
  • Bountie coins
  • The Abyss
  • ViTokens
  • Mark.Space.

All the above have adopted sound strategies not to be caught in the rut.

The gaming industry is one of the sectors that are set to witness a lot of growth related to blockchain-based platforms. The aim is to revolutionize the entire ecosystem, giving the user both privacy and security. And with a number of platforms like TRON coming up fast, the future looks bright for the gamers and those who wish to invest.

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{ 1 comment… read it below or add one }

Alxa Bell April 23, 2018 at 13:28

Wow, extremely useful information on this post. I am glad I found this very useful for me. Thanks for Sharing such a Great Information. All the Best 

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