The video-game industry has exploded in the past few years. According to a study published by Newzoo, the global gaming market is expected to reach $108 billion this year, and $128.5 billion by 2020.
However, only a small minority of gamers are actually rewarded for their abilities and manage to become sponsored professional players. Most just buy a game, learn how to play properly, enjoy the competitive scene for a while, and then move on.
Enter the Next Level Token (NLT), a blockchain-based solution that rewards players with digital currency tokens when they win multiplayer matches, so as to promote a strong competitive community and guarantee an interest in cryptocurrencies. These tokens can then be used to purchase in-game upgrades, or be cashed out for real world value.
Uniting the Blockchain and Gaming Industries
Next Level Token is already developing games that will be connected to its blockchain. Its flagship, Diplomatic Deathmatch, already has a demo version available on app and has been well-received. Mini arcade games are also being developed for less skilled players to be a part of the Next Level Token Economy.
As stated, players will be awarded tokens for winning multiplayer matches. These tokens can be used on items, game improvements, or be cashed out. As more tokens are given, the more the value of each of these tokens increases, while the amount paid per victory is reduced to increase scarcity. The games apply a small transaction fee when awarding the tokens through an Ethereum smart contract.
When there are less than 20 million NLT tokens in circulation, a subtoken will be created to increase NLT’s value. This means players will either have NLT tokens by winning competitive matches and tournaments with their skills, or by purchasing them from Next Level Token.
Next Level Token’s end goal is to help by introducing gamers to the cryptocurrency ecosystem, by providing them a user-friendly introduction, as all they have to do to earn tokens is win multiplayer matches. Soon enough, through experience, players will be immersed in blockchain related terminology and will be familiarized with cryptocurrency wallets, markets, and regulations.
The Next Level Token’s ICO started on August 14, and will end on August 31. NLT adheres to the SEC’s securities guidelines and ensures that ICO investors will receive quarterly financial statements that outline where the funds are being spent. Issued tokens won’t be viewed as securities, but as a digital asset given for in-game value.
Early ICO investors have an edge over their competitors, as they will have access to exclusive content, which means they can get to know the game before others. However, at the end of the day, winning games will come down to skill.
Tokens can be purchased with Ethereum (minimum 1 Ether investment), or with a debit/credit card. You can keep up with the project using Facebook, and Twitter. Users are thoroughly advised to read the project’s whitepaper.
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