Nitro is an ambitious ICO which is meant to bring cryptocurrencies to the gaming world. Although a lot of cryptos targetted at gaming already exist, Nitro separates itself by having partnered with icandy, which is a gaming developer/publisher which claims to have 348 million users of their games.
Nitro has several points to make about the gaming industry:
- Gamers contribute their revenue to the industry, but aren't able to participate fully
- The top 10 gaming companies made 54% of the revenue, causing smaller developers to be crowded out
Nitro claims to solve these problems with their platform. The crux of their platform is to fund games that they want to see made using Nitro tokens.
So, is it worth it to get in? Nitro's main competitor, it seems, would be kickstarter. It is entirely possible that they could compete with kickstarter, however going up against an already well established company would take a lot of skill and work.
Here are some more stats about their ICO:
Pre-Sale: 19 November to 23 November 2017
Crowdsale Date: 01 December to 26 December 2017
Crowdsale Rate: 1 ETH to 800 NOX (equivalent in BTC)
Currency Accepted at Crowdsale: Ether (ETH) and Bitcoin (BTC)
Pre-sale Incentives: 30% bonus to Crowdsale rate Minimum quantity of 5 ETH is required
Crowdsale Early Incentives:First 24 hours – 25% bonus Subsequent 48 hours – 15% bonus
Max To Raise at Pre-Sale / Crowdsale:75,000 ETH (Nitro Team may consider an oversubscription of up to 85,000 ETH)
I think this is an interesting project worth looking into, however I have two concerns with them. They also have something called a Nitro Dollar, their currency which is supposed to be pegged to one US dollar. I don't like Tether, and I don't like their idea of a Nitro Dollar. I don't really see the reason they would make that, except nefarious ones. The second point is that they have crowdsale bonuses for whales, and I don't like the idea of whales buying a massive percentage of the supply to then dump as soon as the token goes on exchanges. In conclusion, I reccomend at least looking into the ICO more, and having cautious optimism for it's future.
Sources: Nitro.live
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