10 Questions answered about an ICO. Today an online real time economic strategy multiplayer game called Prospectors!
1. When will the ICO take place?
It should have already started on the 1st of June 2017 and the end date would have been a month later on the 1st of July but it got postponed. Yesterday they announced on Twitter that a new date will be announced soon.
2. What is the initial price?
1 Ethereum will get you 1000 Obligations (OBT).
3. What is the total supply?
100,000,000 OBT.
4. Will there be an additional issue of tokens?
There have been a few OBTs sold in the pre-sale to early investors but no tokens will be sold after the ICO ends. All unsold tokens will be burned. Minimum goal is 8000 ETH so 8,000,000 ETH.
5. What is the ICO structure?
- 78.5% totaling 78,500,000 Obligations will be sold to participants of the ICO.
- 1% totaling 1,000,000 Obligations are reserved for early investors that participated in the pre-sale.
- 0.5% totaling 500,000 Obligations will be given as bounties to people that like and follow them or social media, promote them on blogs, translations, etc. You can still earn bounties until the 1st of July 2017 (this date might be extended).
From all the ETH that Prospectors will receive from the ICO:
- 65% will be used for development,
- 20% will be used for advertisement,
- 15% will be held as a reserve.
6. What is a Obligations Token?
A Obligations Token represents a share of Prospectors and anyone holding an OBT will receive a part of the company's profit based on the amount of OBT they own. Furthermore, anyone holding OBT's will have a say in regards to: decisions on vital points for Prospectors which includes the amount of profit paid to investors and the distribution of funds for the development of the game.
7. How can I purchase and store Obligations?
Not 100% clear yet which wallets you can use but as they will be using the Ethereum platform i'm sure MyEtherWallet.com will give you the possibility to buy and receive the tokens and store them safely.
8. What is Prospectors?
Prospectors is what they themselves refer to as a Massively Multiplayer Online Real Time Economic Strategy (MMORTES).
The game is basically a strategy game where you start on a big map and in this case need to start of with finding a plot. Some plots have gold and some don't so you will need to do some research before buying your plot. Gold is very important in the game as this is the actual crypto-currency that is based on the Ethereum Platform. So whilst playing the game OBT is useless as the main currency and the only trade and settlement instrument in the game is the Gold token.
The main things worth knowing about the Gold token are:
- The only way to get Gold is by mining it in the game,
- To mine Gold you will need in-game labor and instruments
- The amount of Gold is limited, not known what the total amount will be at the moment,
- Like I mentioned: some plots come with a lot of Gold and some with no Gold at all,
- Gold can be retrieved and traded on exchanges.
To continue, after you bought your plot or parcel of land you can create (governmental) organizations to trade, produce and process things. There is a full range of raw materials/resources which can be collected by a certain amount of workers that are assigned to every player to begin with. These workers can also built or work for your and someone else can hire them from you, with your consent and for a compensation will be paid in Gold.
9. The Team
- Andriy Maslievich: Cofounder & leading developer and smart-contract developer
- Nazar Chervinskiy: Cofounder
- Max Karkach: Cofounder & Developer, designer and illustrator.
- Oksana Vasylytsya: Cofounder & leading economic model developer
- Taras Yeserskiy: Cofounder & author
- Sergiy Chervinskiy: Cofounder & author and illustrator
10. Should you buy it?
According to the (outdated) road map, which can be seen below, development on the games has not started yet so it is yet to see what this game will be like. If it ends up becoming the new Clash of Clans or as popular as World of Warcraft you are sure to become a wealthy individual. I do feel like people would enjoy playing an online real time economic strategy multiplayer game but it all depends on the execution of the idea and getting it among the masses. Although it sounds as a lot to 20% of all tokens for advertisement in the gaming industry you will have to go big on advertisement or your game won't be picked up by the masses. Just like it isn't always the best App that's first in the App store.
There hasn't been a lot of interest or news about this coin so there definitely is no hype going on. They have an insignificant amount of followers on social media, no proper whitepaper and although the concept of the game is very interesting I would've liked to see some more information (like game play screenshots). It is also unclear why they postponed it but now I am just thinking it's because of the lack of interest. Which might not be true at all but that's what people will start thinking when you don't clearly state why you postponed the date of your ICO.
Will keep an eye on the game and so I will join at an later stage, if it's promising, and so I don't see the need to invest in the ICO, to risky.
Thank you for reading, please share your thought and don't hesitate to leave a comment, follow me or upvote my posts!
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Sources:
https://twitter.com/prospectorsgame
https://prospectors.io/en
https://cointelegraph.com/press-releases/prospectors-ethereum-based-online-economic-strategy
http://coinews.io/en/category/1-crypto/article/448-prospectors-%E2%80%93-ethereum-based-online-economic-strategy-