Lotus Core uses blockchain to give more power to developers and users of the Gaming industry.
Lotus Core aims to give gamers and developers more power in the gaming industry by creating an Ethereum-based gaming platform. Unlike other blockchain initiatives aimed at the Gaming market, Lotus Core lets users have complete control of the games they purchase. It separates itself from other initiatives like The Abyss by giving the user as much power as possible. The user owns the actual game he or she buys and makes it possible to play the games without an internet connection. Users can also sell or borrow games they own. By letting the user completely own the game, Lotus Core takes a completely different approach to decentralizing the gaming industry than other blockchain projects. Since online gaming has become common practise, it remains to be seen if this approach is appealing enough for the users to make Lotus Core a success.
What problem does Lotus Core try to solve?
The current gaming industry hardly gives any control to developers and gamers. More and more games are purchased online, where the user downloads a game and purchases the rights to play. These games cannot be borrowed to a friend or sold when you finish the game.
Developers on the other hand only get parts of the revenue a game generates. Middle men eat a lot of margin, leaving gaming developers with much less income derived from their games.
Lotus Core aims to solve both problems without limiting the user experience. Users can download a digital cartridge which they completely own. This makes it possible to borrow or sell their cartridge later on, just like any physical cartridge nowadays.
What is unique about Lotus Core?
What sets Lotus Core apart is their efforts to give users more control over the games they purchase, without compromising on user experience. Of course, using blockchain also means middle men can be cut, which makes a blockchain platform appealing to Gaming developers. Since other projects like The Abyss also offer this upside, it cannot be seen as a unique feature of Lotus Core.
Lotus Core will let users own the games they purchase, meaning it is possible to borrow or sell the games you have purchased.
Users can play the game in offline mode. By using blockchain, it is possible to validate the identity by using digital signatures, making an internet connection optional.
Borrowing games will be much easier. By using blockchain while giving users ownership of the game, it is possible to safely borrow your game to other (unknown) users. Smart contracts can make the game available to a different user for the time period agreed upon by both parties.
This will give users complete ownership over the games they purchase, creating a free market for second hand games or games available to borrow.
Upsides of blockchain in the gaming industry
By using blockchain, Lotus Core offers more upsides to the gaming industry. While other blockchain projects offer similar upsides, it is worth mentioning to get a complete overview of the upsides of the Lotus Core project.
Blockchain makes it possible to cut the middle men, making the gaming industry decentralized. This allows gaming developers to earn a much higher percentage of the revenue derived through their games.
Blockchain makes it possible to fight piracy. By building on a fully transparent ecosystem, it is much harder to copy or illegaly distribute games.
It is easier to attract private investors, by using smart contracts. Terms and conditions can be agreed upon upfront, while the contract is completely automated.
The Lotus Core team
The team looks experienced in certain areas, although it lacks blockchain experience. The team members come from the Venezuelan company Talpor Solutions.
Talpor founder Pedro Pinango brings experience in successful enterpreneurship to the Lotus Core team. Together with two other enterpreneurs, he built Talpor from the ground up, making it into a successful company years later.
Other team members bring experience in development, UI design and UX design. All team members spent their last years at Talpor, which could be a blind spot. In comparison to other blockchain projects, there is limited experience from different companies, as well as a lack of experience from multinationals like Facebook, Google or Microsoft.
None of the team members seem to have blockchain experience, making it important to bring blockchain experience through experienced advisors. While blockchain experience is no necessity for success, it brings confidence to investors and increases the chances of a successful launch.
Lotus Core looks like an interesting project. The gaming industry is big enough to be successful without disrupting the industry from the start. However, the industry is also highly competitive.
Their approach makes it appealing for independant gaming developers to try out the platform. Tapping into the indie game market might be a great move for Lotus Core. This makes it possible to bring unique content to users, while still having huge potential to grow.
One of the two main hurdles Lotus Core needs to take is on boarding the right advisors to make both the ICO and the project a success. Since the team lacks blockchain experience, it looks important to bring this experience to the team through the right advisors.
The other hurdle might be more difficult to take. Since the gaming industry is highly competitive and online gaming has become mainstream, the upsides Lotus Core brings might not be enough to bring gamers on board. The success of Lotus Core not only depends on the upsides they bring, but the content they provide. Having unique, quality content available at launch gives Lotus Core the opportunity to let adoption grow. When Lotus Core does not bring unique, quality content at launch, it might very well have problems getting adoption.
Since the project is still in a very early stage, there is enough time to overcome any hurdles. This makes Lotus Core an interesting project to watch. You can sign up for their whitelist through their website at https://lotuscore.io/.
Total available tokens: 1.000.000.000 LTS
Available tokens during pre-sale: 100.000.000 LTS (10%)
Available tokens during crowdsale: 600.000.000 LTS (60%)
Pre-sale dates: 21 march — 21 april
Pre-sale price: 1 ETH = 52.500 LTS
Crowdsale dates: May 2018
Crowdsale price — Tier 1: 1 ETH = 45.500 LTS
Crowdsale price — Tier 2: 1 ETH = 40.250 LTS
Crowdsale price — Tier 3: 1 ETH = 35.000 LTS
Any unsold tokens will be distributed equally among all the token holders after the crowdsale event.