CEO & Founder, Pete Mardell on Force Protocol’s future
Pete Mardell talks about where Force Protocol (formerly TriForce Tokens Ltd) fits into the ever lasting crypto bear market.
Bear Market Woes
If your a hodler, a trader and/or believer in the crypto market, this prolonged bear market is like a big slap in the face. It could shake the faith of even the most hardened to the volatility of this crazy market.
But just take stock for a second. Look at what has been achieved in the past year alone; A massive explosion where ‘normies’ started getting involved and buying. Just over a year ago few people had barely even heard of cryptocurrency, much less understand it.
Now we exist in a time where real-world use cases are being created, adopted and is being formed as part of large corporate strategy, not just as a means of value transfer i.e. buying online goods.
We must remind ourselves of the fundamentals being achieved with blockchain technology — the impact on our daily lives. With each passing day, more use cases are being developed, giving it chance to take root in our every day lives — without even realising it is there. The future is very bright for this emerging technology.
We can’t deny though that are large part of the rapid market growth was down to the ICO explosion of 2016-2018 that contributed to catapulting blockchain into the mainstream. Now tougher scrutiny and regulations are putting a cap on that — for good reasons.
The question now on everyone’s mind; “When Moon Again?”
If you are looking for a direct answer to this question, you will be disappointed. Nobody can time a market correction or predict where it will go in a week, let alone a year. You will get answers for sure, but how many times have you heard so called experts make profound claims of insight to Bitcoin reaching $100,000 by 2018? Also the opposite, people claiming Bitcoin will be finished by 2018. And somewhere in-between that you have people predicting swing moves and intra-day changes.
They may get it right on occasion but not with any degree of certainty or measurable probability of a significant profitable success rate. Anyone with that capability could literally take money out of the market as they see fit — but they don’t. More than likely they are trying to sell you a product or service on the back of their ‘special market insight’.
This, in my opinion is the complete wrong approach of looking at this industry from an investment perspective. The people that made it big in this industry, are those that invested in 2011–2016. Back then there were only a handful of altcoins and extremely limited (if any) real world application for business. Yet those people believed in the fundamental shift that cryptocurrency could bring to the world. They didn’t care about the day to day moves, when it capitulated several times before. Case in point, I specifically remember people telling me in mid 2015 that Bitcoin was dead when it was at $200, right at the point when I wanted to start a company in it (hindsight alert). Two years later we reached all time highs ($19,817 on December 17th 2017) and thousands of new market participants.
In short, we should simply ignore and EXPECT that the market is going to go through these cycles, with prolonged periods of decline. The question is, how prepared will you be for the next market correction and rapid growth?
How does Force Protocol fit into this picture?
The prelude into this article sets the tone of how we are driving our company forward here at Force Protocol. We are building for the future; Securing strong partnerships that adds real value to the business (not just a name on the website), signing agreements with indie game studios, equity holdings in a game publisher (TheGameWall Studios) and real technology development that adds value to game studios are just a handful of things we have achieved in the past year.
For us, the key to long-term growth and success is delivering solutions and having a solid commercial foundation from which to grow. We are not about trying to skim from the market — our drive and passion is about bringing blockchain technology to the games industry, and the progress we are making toward this goal is significant.
Our Roadmap to Growth
Driving the value of our token does form a key part of our overall strategy as it provides us with the liquidity and strength to secure further agreements with new partners, game studios and publishers. We regularly have team meetings to determine what our roadmap should include that will be the most effective at achieving this. Currently this includes:
- Releasing our first pure crypto-economy game ‘The Six Dragons’
Having just secured a solid partnership with an indie game studio that has been developing The Six Dragons single-player RPG, we will be working closely to implement a pure crypto-economy on a game that has been in development for the past 2 years — with a solid story and game play mechanics (Huge 64Km2 Map, hundreds of quests and 1 billion randomly generated dungeons).
This is not just a game to capitalise on crypto, but to actually create an engaging and enjoyable game. The crypto-element will provide players a way to trade with each other for items, and even create rare items with proof of ownership, as a non-fungible token.
2. Dedicated Games Blockchain — dPoS with voting rewards
A big part of our plan includes developing our own dedicated games industry blockchain that will provide rewards to game studios by running them on their servers, and providing rewards to players for voting.
3. 1:2 Swap to our dedicated blockchain
Part of our strategy to develop our dedicated blockchain we shall be rewarding token holders with a 1:2 swap, converting their existing ERC-20 FORCE token to our native FORCE coin on our dedicated dPoS blockchain protocol.
4. Supply Reduction — Burning Event
Once we reach a point of testnet release for our dedicated games blockchain we will be liquidating a significant portion of the company holdings and opening it up to our team/advisors to burn an agreed portion of their holdings. I have personally agreed to burn 5% of my own holdings if we get agreement from all our advisors and team to commit a minimum of 3% of their holdings for this event. We anticipate a total supply reduction of 5–10%.
5. Exchange and CoinMarketCap Listing
To foster a positive liquidity that is required for listing on CMC, we already have agreements in place with several exchanges for listing our token, and actively pursing listing on a top 10 exchange. We expect to be listed on at least two exchanges by December 2018.
Finally our team are always in discussions with indie game studios and seek to secure ever more agreements, with an amazing vision of a unified game currency (our primary objective). As we secure more agreements and direct integrations, this vision is becoming a real future prospect.
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