The Blockchain industry is developing very quickly and one of the beauties that it has brought to the technological ecosystem as a whole is the efficiency of decentralized crowdfunding which most often comes in the form of Initial Coin Offerings (ICOs).
The different faces of ICO
ICOs enable both startups and existing companies to create an easier system of fundraising for necessary development and expansion purposes as the case may be, it also offers individuals from across the globe the opportunity to indirectly buy into companies more easily and in manners that are more flexible that what has been hitherto achievable. When products are tokenized and launched into the digital currency market, they become liquid assets that can be applied in various ways.
Despite the promises of ICOs and its numerous advantages over previously operational systems, not all token sales have turned out as expected, both for the companies or the individuals who have participated in such sales. Among other reasons, launching an entirely new product and operating in a non-vibrant marketplace are two main reasons why a lot of ICOs have performed below expectation. This explains why video games platform, NITRO is confident of its Initial Coin Offering (ICO) which begins with a token Pre-Sale on Nov. 14, 2017.
Tokenizing the Video Game industry
Nitro is a unique project on the ICO market that is backed by publicly listed company (iCandy Interactive Ltd, ASX:ICI) which has an existing relevant business with prominent institutional shareholders. Nitro is a project to tokenize the video games economy that is backed by a successful award-winning game business that has been operating for many years and has a base of 23 mln smartphone users. This proposition significantly reduces the risk of business plan execution, compared to other ICO projects have.
The video-game industry is booming. The industry generated over $100 bln in revenue in 2016, with experts predicting a growth of 30 percent over the next five years, showing tremendous potential in this sector. Despite this outstanding performance, the industry is plagued with acute monopoly where the market is controlled by oligopolistic large corporate actors. This and other factors, such as the lack of access to funding for new Promising Game Studios pose some significant problems to this industry as well.
The Nitro project
Nitro, is an independent, Blockchain-based online collaboration platform, which seeks to allow participation in the video-games economy, to connect various stakeholders, and to achieve growth for the overall Nitro network.
Using a new Blockchain cryptocurrency called NOX, this economic platform will bridge the problems currently plaguing the various actors in the video-games industry, and through the process, bring about massive benefits to the global video-games community. Most importantly, Nitro seeks to democratize the economy of the video game industry, creating a holistic community by bringing all the stakeholders onto an integrated platform.
With Nitro, everyone is a stakeholder
Compared to other game-related crypto projects, Nitro maintains a thorough understanding of the complex challenges of the game industry and the Blockchain-based solution that the project offers is a holistic approach to solve end-to-end value-chain problem of the ecosystem. This is a project that brings into consideration the interests of all stakeholders of the video-game industry, i.e. gamers, game studios, publishers and financiers.
In a broader perspective, Nitro project will offer opportunities to gamers and/or laymen to become financiers to participate in booming video game economy (it is almost impossible these days as the game market is an oligopoly structure). Publishers and game studios will get marketing access to the audience of gamers in an efficient and transparent manner. Gamers will be able to use a particular coin in all games for in-game purchases, get incentive in engagement, participate in the game development process and ultimately get rewards from the industry as token holders. And game studios get access to the funding and audience to trial ideas and also get instant revenue, instead of waiting for payment cycles that can go up to 90 days.
The fundamentals of stability
As mentioned above, most projects get bullied out of the market for several key reasons, among which is not having a strong ‘backbone’ to survive the rigors of the marketplace. For Nitro, the case is otherwise. The project is backed by three established VC funds from Singapore. They are Fatfish Internet Group, Incubatefund and BB fund (Blockchain fund by Life.Sreda).
iCandy’s shareholders also include industry giant such as Baidu e.g. Baidu ($60 bln marketcap Chinese Internet company) and the Chinese Global Mobile Developer Confederation (GMGC), one of the most influential games developer network of China. The Nitro economy is conceived and built by those with very successful business track records in the tech industry. These track records will translate into know-how that is invaluable in building a sustainable economic model that will benefit token-holders.
Nitro funded games and other third-party games can use the Nitro Marketplace and its API to transact with gamers. iCandy as the publisher will market Nitro-funded games and it will market the games to its existing international community of more than 23 mln smartphone users. This market alone is enough to create significant demand for the Nitro native tokens, NOX, which would mean an increase in value for the tokens based on the basic economic laws of demand and supply.
An unfolding phenomenon
In a market where numerous ICOs are seeking the attention of investors, and a the same time a global pool of investors searching for the right opportunities for stable and robust investments, it is only appropriate to uphold the fundamental elements of stability and growth when making a decision.
An already existing robust platform, operational in a vibrant global marketplace, backed by established prominent VCs and Internet unICOrns and designed for all classes of participants. It will not be out of place to expect the Nitro project to emerge as an Internet breaker over a very short period of time.
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Source : Coin Telegraph