The RHOVIT ERC-1155 Contract
There are many exciting things coming up for RHOVIT as we prepare to have an awesome 2020! This includes the launch of our game RHOAM, as well as the release of phase 2 of the platform, both of which are heavily focused on token-owned assets.
If you follow this space you know there’s no shortage of blockchains and communities to build atop of, yet for us building our own contract using the the Ethereum 1155 protocol made the most sense. Before we get into all the reason why, lets first take a look at our use cases on RHOVIT.
RHOAM
RHOAM isn’t just a stand alone game, it will be intricately tied to the RHOVIT platform with every single member a click away from playing and winning! Imagine if on YouTube or Twitch you earned game assets through your support of the platform. Next, imagine you could just hit a button and use those assets to play a game and win even more prizes. That is essentially how RHOVIT and RHOAM function. Accept 3 of the 4 types of assets you play with will be token-backed and yours to own.
What about the size of the player-base?
When the next phase of RHOVIT releases it will be geared towards a main stream audience and easier on-boarding of new creators. It will also allow more benefits to creators to bring their existing fans to RHOVIT. Per Variety, YouTube now has 2B monthly active users. If we capture just half of one percent of that…RHOVIT would have 1M active users/players.
Our goal is to far exceed that but the point is, as RHOVIT grows, RHOAM grows and so to does our minting of assets.
RHOVIT Next Release
We have been in beta for a little over 6 months now. While we have released some updates; the biggest one being the Rbit Shop, most of the new features are yet to come.
Features are based on; our own plans, community feedback, and the ecosystem being fully operational. You can read more about the latter part here.
One of the major things we will be updating is the ability of our creators to offer their own rewards. This will not only include things like stickers and custom emojis, but token-backed and collectible assets.
Our Own Contract
First off, we would like to thank Nick Juntilla, lead developer at ReceiptChain who created one of the first ERC1155 contracts, for consulting with us. His insight into the whole space is invaluable!
For the reasons and use cases mentioned above, everything we create needs to be able to scale and do so at a cost-effective rate. By controlling the contract we can offer our creators a virtually free way to reward their fans and create rules and an interface for them that makes sense for RHOVIT.
As a platform that already houses all content and information for our creators, we will also be able to create our own metadata storage, therefore negating the need to rely on a third party.
The first token minted on our own contract will be the RHOAM Founder’s Token. BIG announcements about that coming next!
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