Cryptocurrency gaming is about to get another major player this year according to Blockstream CSO, Samson Mow. This month, Mow, who is also the CEO of Pixelmatic, unveiled plans to integrate a Dual Token Strategy into the company’s latest sci-fi video game release – Infinite Fleet.
Pixelmatic Dual Token Strategy
In the Pixelmatic dual token strategy, a combination of cryptocurrencies integrate to enable multiple systems to function independently, but still under the security of the same blockchain. Importantly, this strategy enables developers to raise funds and provide utility to players simultaneously.
In the case of Infinite Fleet, the platform integrates the INF utility token which functions as currency within the game. These tokens can be traded for goods and services between players. Additionally, players earn INF Tokens for their game time and participation in major events.
The second token in the ecosystem is a security token. This token functions as an investment tool for crowdfunding. Pixelmatic seeks to raise an additional $16 million in funding from its STO at the end of the year. Sadly for most, the event is by invite only. Reportedly, only a small group of Bitcoin whales got in on this exciting investment.
Blockstream Sidechain Liquid
Interestingly, both tokens are to be pegged to BTC via Blockstream’s sidechain – Liquid. This protocol functions as an inter-exchange settlement network. Basically, Liquid is a blockchain designed for use by brokers, exchanges, and market makers. It increases BTC transaction speeds and enables enterprises to utilize the BTC blockchain without using BTC directly.
The decision to issue tokens on Liquid makes sense for a number of reasons. Primarily, Liquid can provide gamers with a better UX. The protocol is flexible and enables the tokenization of nearly any asset. To accomplish these tasks, Liquid uses the “Confidential Assets” protocol. Confidential Assets is a privacy tech that disguises the type of asset utilized in a particular transaction. Lastly, the CEO of Pixelmatic just happens to be Blockstream’s CSO, Samson Mow.
Discussing the decision, Mow took a moment to touch on the growing scalability issues encountered by security tokens launched on the Ethereum blockchain. Ethereum scalability concerns began during the 2017 crypto craze, culminating during the release of the ETH-based game Cryptokitties.
Lightning Network Integration
Mow plan to take crypto gaming to the next level. He even announced plans to integrate the Lightning Network in the near future. Notably, the use of the Lightning Network to facilitate micropayments increases transaction speed and reduces fees significantly.
Liquid – In Space
The Infinite Fleet project has everything a crypto head could ask for. You got a sci-fi MMO, with a BTC pegged STO, and the Lightning Network coming soon. It sure seems like Blockstream and Pixelmatic want to change the game-scape forever. When you consider video game revenue topped $43.8 billion in 2018, it’s easy to see why the market is ready for this strategy. If the project proves a success, you can expect to see video game crowdfunding become a major investment tool in the coming months.