Championing the unbanked has been a high priority on the agenda of the blockchain community — we’ve seen some amazing work being done across the utility sector, credit, insurance and more. A big part of the blockchain mission is about decentralization of institutions: empowering the masses who do not have easy access to established systems (such as credit card payments), and providing them with access to various services, coupled with value added benefits.
Decentralising payment and distribution system is exactly what we have set out to achieve in our quest in establishing the MOO store, to bring more power to the unbanked gamers of Southeast Asia.
But first things first — What are MOO Tokens?
MOO Tokens are the brainchild of Cloud Alliance, a company made by gamers seeking to solve the persistent issues faced by game developers and gamers alike in emerging markets: access. Coming from decades of game publishing background — Cloud Alliance’s founders are acutely aware of the challenges faced by game developers wanting to publish their game, especially in the Southeast Asia market. Developers have to localize their games and negotiate distribution terms for each country, a process that can take months (or even years) — with no guarantee of return.
Little surprise that few developers bothered to spend the effort and resources, relying on established distribution channels — which only accommodate credit card payment in these market. This is a pity, considering the size, growth and appetite of these markets. Southeast Asia alone accounts for 170.6 million gamers and is expected to hit 250.6 million in 2021. However, only a small percentage of the population have access to credit card payment, depriving them of access to full game content and experience. They have to go through convoluted routes — black markets where game credits, items and access are traded illegally — harming both the developers as well as the gamers due to tampered game economics.
The founding team has been in the video game industry for decades, working alongside top game companies to publish AAA game titles such as EA Sports™ FIFA Online 2, World of Warcraft, Counter Strike Online, and Starcraft 2. They have an in-depth understanding of the industry and build the MOO Token on the Ethereum Blockchain (ERC20) too address these issues. The MOO Token was conceptualized by gamers with other gamers in mind, boasting a host of benefits which will enrich the gaming experience for all.
Benefits of MOO Tokens
1. Virtual game currency with no boundaries
MOO Token can be converted to a virtual game currency known as CloudMoolah Points or CMP for short. CMP can be used to acquire games and purchase in-game content and services across all games in the MOO Store, which is currently onboarding more than 300 developers (and counting). With all in-game items and services using the same virtual currency of CMP, MOO Store does away with the hassle of buying and keeping different currencies for different games, providing gamers with massive convenience and peace of mind.
As our commitment towards the unbanked gamers, purchases of CMP can be made without the need for credit cards. CMP can be converted from the MOO Token through the MOO store or alternatively, purchased using fiat currency. Payments can be made using our various local payment partners — with more than 500,000 retail payment points and counting. Given that credit card penetration for gaming in Southeast Asia is at only 3%, we see this as one of the potentially high demand factors that drive up demand for MOO tokens within the MOO Token economy. With MOO Token, gamers will have full access regardless where they come from or whether they have a credit card at hand.
2. Our cost-savings = Your cost-savings
One CloudMoolah Point (CMP) is pegged at a fixed value of US$0.01 to ensure stability in the game ecosystem. The conversion rate between CMP and MOO Token will be based on the benchmark price reflecting the prevailing market value of the MOO Token.
One major advantage of buying MOO Tokens is that the gamer can convert his MOO tokens to CMP with a bonus of up to 20% from the benchmark price, giving gamers more bang for their buck.
This premium being offered to gamers acquiring the MOO Token is made possible only through the blockchain technology, which helps eliminate the middleman and channel costs. Think of the MOO Token as a gamer Robin Hood, who gives back to gamers any cost-savings enjoyed.
3. Gamer loyalty reward program
In addition, the next phase of Cloud Alliance’s development roadmap includes a loyalty program for gamers whereby gamers will be able to earn CMP based on objectives set by MOO Store and/or game developers. This program will open up numerous possibilities for community building and interesting in-game events. For one, developers can obtain direct feedback from gamers on their development plan or specific features of their game via a limited release beta run — creating a more interactive game development cycle within the ecosystem.
4. Trade on the blockchain with fellow gamers
It wasn’t that long ago when a young Russian man named Vitalik had his beloved in-game spell taken away from him. Realizing then the horrors of centralized services, a furious Vitalik thus created the decentralized platform we know today as the Ethereum Blockchain.
Thanks to Vitalik’s genius, the MOO Token now allows you to trade in-game items with fellow gamers. Got an extra item you don’t need? Looking to buy something from another player? In the next phase of development, gamers will soon be able to trade different items and services in the CloudMoolah marketplace using MOO Tokens, interacting with any player from anywhere in the world. Naturally, as with blockchain technology, all transactions are secure and transparent. Every transaction is recorded publicly, thereby reducing the risk of fraud.
5. Crowdfunding — democratizing innovation in gaming.
It is no secret that many innovative games have met an untimely demise despite a strong cult following, only because there were not enough supporters who crowdfunded the project. A lack of a common medium left potential investors in the dark.
Enter the MOO Token and MOO Store marketplace. Gamers will be able to use MOO Tokens to fund or support upcoming games which show promise and potential. With new innovative games seeking to crowdfund on a common MOO platform, these new will be easily available for all to see, all on one common platform.
Gamers can also earn the perks and rewards of supporting new crowdfunded games, all while enjoying the convenience of using the same virtual currency CMP. Supporting innovation and creativity in gaming has never been easier or more convenient.
There are extremely few cryptocurrencies out there that simultaneously function as both a tradeable cryptocurrency as well as a stable virtual game currency — which can be used as one single currency across a huge variety of games from different countries. A single currency that allows you to buy in-game items, fund favourite games or trade items with other players across the world.
With more than 300 game developers who have registered their interest in developing their games for the MOO Store, gamers will soon enjoy thousands of different games all on the MOO platform. Providing practical benefits and functionalities for gamers, the full demand potential of the MOO Token is truly limitless at this point. For us here at Cloud Alliance, we are truly excited in the way the MOO Token will likewise revolutionize and change the gaming landscape in Southeast Asia and beyond. We look forward to you joining us on this journey!
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