ICO Review — 8 Circuit Studios
Crowdsale opening date: 17 July 2017
Crowdsale closing date: 17 Aug 2017
Platform for Fundraiser: Ethereum
Country of Incorporation: US
When I read about this ICO I was really interested in the idea. For me their idea, beyond their execution and even their lack of a suitable communication channel, was the biggest puller. And the team of this ICO had some great experience in building some great games which holds promise. The concept of Player owned asset in form of Game objects embedded in their wallets is such a revolutionary idea that this was too good a ICO to be ignored. And the applicability of their idea into is far reaching than just gaming but it opens the doors to many more fields of creative media which had not been realized till now.
Value Proposition for Investors
This tokensale is for any gaming enthusiast who wants to experience the next level of gaming experience where they can own a key part or character or even a game object from the game and want to be part of the gamified trading economics of the game. In the 8Bt case their gaming & voting process ecosystem will be powered by 8Bt Tokens. The first and immediate use for 8Bt Tokens, on August 31st, will be to allow token holders to lay claim to persistent and exclusive resources in their first blockchain powered game: D-PARC. Future players, token purchasers, or interested parties will be unable to acquire these unique items unless the current holders decide to part with them. These blockchain-enforced items will be the first opportunity to participate in the digital sovereignty offered by 8 Circuit Studios.
Personally, I do see some value in speculative buying whenever it is listed in the exchanges but in case you want to invest on a great idea and are a value driven investor and a gamer then at least this ICO is worth a shot.
8 Circuit Studios, are creating a game called D-PARC through which using 8Bt tokens & Ethereum blockchain, their games will help people learn to identify trustworthy transactions, how to make an exchange for goods and services, how their voice can be heard through a vote.
Token URL: https://www.tokensale.8circuitstudios.com/
Maximum cap on the token sale: $33 million
Total token supply: 100,000,000 8Bit Tokens of which:
- 33% sold in the token sale
- 33% retained by 8 Circuit Studios
- 33% allocated for distribution to incentivize participation in the ecosystem
- 1% to cover token sale costs
8BT is a Ethereum ERC20 Token
Purchase Methods Accepted: ETH
The 8 Circuit Studios token sale will start on July 17th, 2017. More details is in their Blog.
Bring D-PARC to Alpha in August, 2017 (specifically including digital property rights enforced by the blockchain).
Depending on the amount raised the following development targets they have set for themselves:
They are targeting a minimum of $1.5mm. With this equivalent, they will be able to complete D-PARC from Alpha and develop a functional prototype for the 8 Circuit Studios ecosystem over nine to twelve months.
This range is from $1.5mil to $9 mil. They will bring the feature set of the ecosystem to Beta. At the higher range, they will be able to fully complete the ecosystem as well as produce two feature rich games. They anticipate a development cycle of 18 months to complete these objectives.
At the most ambitious range they will focus heavily on business development and collaboration with other studios and developers.
The gaming industry has enormous influence on culture and technological progress.But still the Gaming industry follows a legacy publishing model. Legacy publishing models once served a valuable function when distribution and marketing was difficult at scale but now times are different.
Some of the questions that the team is trying to address by their token model are:
- Is there are some way that can be improved upon in the current model of product development, distribution and ownership rights.
- Everything we do in the game world, all the levels your character gains through your experience, the items you find, the items you create, all of it, belongs to the publisher of the game. How to get ownership of that?
- If we try to sell your character, or the items you found or made, for money outside the game world, you are likely violating the terms of the game you accepted by purchasing or playing it. How to break this barrier that using Blockchain?
- New Funding and Distribution Models — Where does the money to create all these things we have in the world come from?
- How the developers and the players and gaming enthusiasts come together to build a community based ecosystem for game development?
8 Circuit Studios, through the process of play, will provide a safe environment where users can learn how blockchains. Their games will help people learn to identify trustworthy transactions, how to make an exchange for goods and services, how their voice can be heard through a vote. They will witness how blockchains will be the technology that, through implicit trust, changes our society. All this by playing a video game.
Player Owned Assets
The player has true ownership of every object possessed in that game. Those assets could be moved and managed however the player likes, in game and outside of the game. The players hold each of those items in their own, easily accessible digital wallet. They agree to trade and swap the items in their wallets. The player own what they have acquired in game. They would be able to sell, or trade or give those items away as they like, in game or out of the game. Just like it is a physical object.
A Voice in Game Development
Using the 8Bit tokens, a voting mechanism can easily be utilized. These tokens would be used to respond to questions put forth by the development team to help with the with art direction, game mechanics, what to focus on in the next release, etc. With the possession of a token (anyone playing the game) is provided the mechanism for voting giving every member of the gaming community an equal voice through a vote.
The first game from 8 Circuit Studios is D-PARC. Players will be put in the position of the central AI operating the intergalactic cruiser D-PARC with the mission to transport a cryogenically-static human colony to a new world-PARC will fall within the management genre and will combine strategy, tactics, and moral choices as the player uncovers the future’s past and determine humanity’s fate.
With D-PARC players will be able to claim complete ownership of their digital property allowing them to manage, sell or exchange it as they like using their ecosystem and currency, 8Bit Tokens.An alpha version of the game will be release for PC in August of 2017, with version 1.0 scheduled for a Q4 release. Early gameplay trailer and screenshots are available at https://8circuitstudios.com.
PROJECT I: THE GAME, their first launch title, is being built using our new development method, and will leverage blockchains as a core feature to establish and enforce our system of digital property rights.
PROJECT II: THE ECOSYSTEM their second project builds upon the successes we are already producing in the development of D-PARC.
It fulfills the larger vision of connecting the functional groups needed to build in an open and enterprising way. They believe there is an unexploited opportunity to leverage this system to revolutionize:
- How players claim ownership of their own digital property
- How creators collaborate and profit from the content they produce
- How gamers and developers connect and create
- James Mayo — President
- Kabriel Robichaux — CTO and Development Architect
- Mike Jones — Business Development
- Mark Nicolino — Art Director
- Filipe Tessaro — Systems Designer/C++ Programmer
- Terry Hammer — Producer
- Shingai Thornton — Evangelist Advisor
- Evan Jensen — Legal Counsel
For me the million-dollar question is, do they have the expertise to execute it. Though they are Ethereum/Blockchain enthusiasts and have good amount of experience in game development but the lack of a full time Blockchain or even a Ethereum developer was a big question mark. Also, their slack channel is open only for the 8Bit token holders and there are no direct ways to contact them, neither through Slack, Telegram or any other chat. They have Twitter, Medium and Facebook though but my question on twitter has gone un-responded for quite some hours. They even do not have a whitepaper but rather a set of blogs that tries to explain their vision. And while their minimum cap to raise funds is 1.5 Million but even for that the preparation for the ICO seems very bad and raises questions as to their intent. But again, as I said either they or any other ICO can even emulate 50% of their vision, this can bring a big boost to the Blockchain industry beyond just Fin-Tech solutions.
Disclaimer: This is not investment or trading advice, always do your own independent research.
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