iCandy Interactive is one of the most popular mobile gaming companies in the world. The Australian public company has several subsidiary studios in the Asian continent. The group has amassed over 20 million installs with titles such as Alien Path, Dark Dot, and its games are often listed as Editors’ Choice on both iOS and Android.
Now, the company has decided to branch out. Or, to be more precise, expand the whole gaming industry. Its initiative, known as Nitro, is being developed with the aim of democratizing the highly profitable video gaming market.
Nitro is to be a platform that brings together all the stakeholders of the industry into a single blockchain-based network. The industry which topped about $101 billion last year has had a perceptible disconnect among most of its participants for quite some time.
The team behind Nitro intends to change that by bringing all of them under the umbrella platform known as Nitro marketplace. They also have their own crypto-currency called NOX which will serve the purpose of in-game transactions and related purchases.
Based on the Ethereum network, 1 NOX is equivalent to 1 USD. The platform is creating a dynamic marketplace where gamers, developers, and gamers can directly interact with each other as well as provide a secure medium of transaction.
The company is holding a crowdsale to make the digital currency available for interested purchasers. A pre-sale, occurring between 7 November 2017 and 23 November 2017, has already helped raise about 2.45 million USD, 6k ETH (Ethereum), and 6.59 BTC (Bitcoin) with about 6 million NOX sold.
The crowdsale begins on 1 December 2017 and ends on 26 December 2017 with the objective of selling 60 million NOX tokens. Both BTC and ETC are an accepted form of transaction. The exchange rate against these crypto-currencies is: 1 BTC equals 800 NOX (same for ETH).
The expansive ecosystem will have enough for all stakeholders to deal with their problems regarding the current workings of the gaming market. There will be transparency in this system, secure transaction through blockchains, and a free flow of feedback through appropriate channels.
This will also restrict few major corporations taking control over the complete network as the platform is open to all. Gamers will also get a variety of choices and immediate redressal for their issues. The developers will also not face funding issues as publishers and financiers wouldn’t have to focus on outreach, allowing them to pitch in on ambitious projects.
As an ICO, it may sound very familiar, but there’s one distinct factor that differentiates Nitro from others: It is backed by a publicly listed corporation (iCandy, listed on ASX). You can find out more about the Nitro platform by reading the company’s whitepaper here.
They also have access to 350 million users across the globe which makes their suggestion of a cohesive environment all the more tempting. The company is aiming for a beta launch of the platform in January 2018.