Game.com is set to debut a new mine-able token. The catch is, you mine the token by playing games
Game.com (GTC — CoinMarketCap) is creating a new token called GT (General Token) to be released August 9, 2018.
The concept is as follows. Each day through playing games on Game.com’s mobile gaming platform players will be able to mine GT tokens. At the end of the day, the amount of fees paid by the player into the gaming platform will be returned to the player in the form of GT tokens. For example, if a player paid 1000 GTC in fees playing games then the player will receive 1000 GTC worth of GT (at the market value of both GTC and GT). In addition, each day 80% of profits gained by Game.com will be distributed to GT token holders. 20% of profits will go back to Game.com.
Does this sound familiar? Yes it’s the infamous FCOIN exchange model but applied to gaming. The major difference being that instead of engaging in wash trading as way to mine coins (FT on FCOIN) people will hopefully be engaging in an activity they may be doing anyway (playing games) but be rewarded in the process.
Unlike other new tokens, there will not be an ICO for GT. What this means is that on the first day of mining (August 9, 2018) the demand for the first GT tokens being generated will likely be very high as even a small number of tokens should occupy a large portion of the profit share for that day. If FCOIN is any indication, the demand may be sustainable as a feedback loop is realized where players play more to mine more which generates higher profits which incentives mining more.
There are two alternate ways to get GT before August 9. The first is if you are a GTC coin holder who froze GTC in the mobile app before June 18. In this case, you can exchange 1 GTC for 1 GT token in the Game.com mobile app. In addition, you can buy GT in a private sale for 1 USD (see white paper). However, GT obtained using either method will be frozen for 1 year. After August 9, GT-USDT pairs will be available on exchanges.
The company has already announced that 3 games will have GT mining at launch: Kitty Fishing, King of War and Pet Planet (full release of the Tron Dogs game):
Given that the Game.com mobile app already has a pretty large following in China (380,000 user accounts as of July 3), the player base will be there on day one to mine for GT tokens. It will be interesting to watch how much the launch of GT will be able to further increase traffic into the mobile app. If the token mining / profit share model works for gaming, one can imagine a future where the same model is applied to many other activities on the Internet like social media, video watching etc.
You can find instruction for downloading the Game.com mobile app here:
Introducing the Game.com Mobile Gaming Platform
The Chinese language version of the white paper can be found here:
Check out Game.com’s social media:
Telegram: https://t.me/gameico
Official twitter: https://twitter.com/gameblockchain
CEO’s twitter: https://twitter.com/gelert
