Blockchain Gaming Market In China

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Animoca moves into blockchain gaming market, to distribute CryptoKitties in China

Blockchain Gaming Market In China

Blockchain Gaming Market In ChinaGame developer Animoca Brands (ASX: AB1) has shouldered into the artificial intelligence (AI) blockchain gaming market after agreeing to purchase a 60% stake in US-based Fuel Powered which has existing commercial agreements with SEGA and Axiom Zen.

The agreement terms require Animoca to purchase the 60% equity from Lion Games with an upfront A$752,263 cash payment. The payment will give Animoca a 60% controlling interest in Fuel Powered.

Additionally, Fuel Powered’s operations manager Mik Nayeem will step into the role of Animoca’s president of games for North America.

Based in the US, Fuel Power has developed blockchain-based gaming services as well as a cloud-based platform which uses machine learning and AI to maximise profits for game publishers.

Unaudited initial accounts for Fuel Power reveal the company broke even with A$500,000 in revenue for 2017.

Meanwhile, Animoca has topped up its cash reserves after completing a A$3.25 million capital raising issuing 54.2 million new shares at A$0.06 each.

Animoca to publish CryptoKitties in China

In addition to acquiring Fuel Powered, Animoca has inked an agreement with CryptoKitties publisher Axiom Zen to exclusively distribute CryptoKitties across China.

According to Animoca, CryptoKitties is the first major game to incorporate blockchain technology and trading of the game was valued at US$20 million in its first month.

Using blockchain technology, CryptoKitties allows players to adopt, raise and trade virtual cats with the primary goal to collect and exchange the felines.

During December, one CryptoKitties virtual feline was sold for about A$330,000.

Crazy Defense Heroes brings in more cash

Meanwhile, after launching Crazy Defence Heroes two weeks ago, the game has generated A$267,000 in revenue in its second week of operation, after bringing in A$200,000 in its first week.

Available in select Asian markets on Apple’s iPhone and iPad devices, the game has now been downloaded 402,000 times since it was launched.

The role-playing character game is free to download, with Animoca making revenue via optional in-app purchases and advertising.

Crazy Defense Heroes contains a fantasy storyline with more than 500 levels.

Animoca has one of the world’s largest mobile game portfolios of recognised brands including Garfield, Ben10, Doraemon, Astro Boy and Ultraman.

The company also owns numerous other games across all genres including simulation, brain and puzzle, action, time management, strategy and role playing.

After today’s suite of announcements, Animoca’s share price shot up more than 40% to settle at A$0.098 in mid-afternoon trade.

CryptoKitties Sales Hit 12 Million

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CryptoKitties is an online game where you can collec,t and breed digital cats; You can even breed two cats to create a different offsprings.

CryptoKitties Sales Hit 12 Million

No one could have foreseen the meteoric rise of CryptoKitties, the viral trading game launched earlier this week by Vancouver/San Fransisco based AxiomZen. According to third-party research from developer Niel de la Rouviere, players thus far have spent the equivalent of $10.6M on the virtual goods.

In response to criticisms that Ethereum clearly lacks the scale to handle such demand, Ethereum Co-Founder Joseph Lubin emphasized the quality of the global developer team working on the network’s open-source software.

“With the largest developer community of any blockchain platform by far, the Ethereum blockchain is in an excellent position, especially at this early stage, to be able to deliver on its potential,” said Lubin.

Virtual goods have a far greater market impact than many might think. Since the earliest social networks, virtual goods have played a critical role in shaping the behaviors and business models behind many of today’s major trends in online engagement. According to Venture Beat, virtual goods create more than $15 Billion in annual revenue.

The 70,000 or so sales coming from the game are clogging up the entire Ethereum network, exposing scalability issues. More importantly proving undoubtedly that a business model centered around collectible and marketable virtual items is a strong proponent for mainstream adoption of blockchain technology.

These milestones have gleamed incredible new insights for mobile gaming network Gizer. Virtual items are a powerful new type of asset and bringing them to the blockchain will allow gamers to not only purchase these items in-game, but to actually take physical ownership of them and to use them across multiple platforms at their own discretion.

For the next 24 hours, Gizer is holding a public presale of their GZR token on the Ethereum network. GZR represents virtual items intended for a gamers Global Gaming Identity (GGiD) as they compete across a variety of games. GGiD is a unique identity on the blockchain to which players can apply virtual items to build out their avatars. Applying these items to their GGiD allows players to bring their unlocked items to life in an exciting and interactive way.

Once unlocked, players can choose to equip and utilize these items as they compete in tournaments across a variety of platforms or can instead opt to list their items on a marketplace in order to turn a profit.

The items can be collected, equipped, traded, or exchanged for other items and even currencies, like ETH. The scarcity of coveted items available will open up a new channel for members of the gaming community to interact with each other. Perhaps most exciting aspect is that the price or fair market value of these items is decided not by Gizer, but the users themselves.

Virtual goods on the blockchain, as well as the business model behind GZR, have never looked more compelling. The recent congestion caused by the viral sensation has been an important stress test for the Ethereum network.

The Ethereum blockchain is still very young and Gizer believes strongly in the world-class development team behind Ethereum and that they will take the lessons from this monumental event to vastly improve the network as a whole; improving both scalability and transaction speed going forward. Gizer is currently in open beta on iOS and Android and readers interested in getting involved can only purchase GZR for the next 24 hours on their official website.

Photos: Press release distributed by PRLog SOURCE Gizer Inc Related Links