The gaming industry has been growing with the advancement of technology, the growth has been contributed by the introduction of the mobile gaming industry which has seen the industry grow from $104 Billion in 2016, $116 billion 2017 and expected to reach $124 billion by the end of 2018 according to industry revenue forecast it is estimated that the industry will reach a staggering $143 billion by 2020.
The gaming industry has evolved with technology and the recent blockchain, VR technologies adoption in the gaming industry will be a major contributor towards the realization of the forecasted sales expected in 2020.
Blockchain technology is being adopted by the gaming industry to help in th realization of the tokenized gaming industry were gamers will be rewarded for their efforts and allow a competition-based gaming system to be practiced at the comfort of your home. Blockchain technology is one of the technologies that will help in the realization of this tokenized economy thanks to its smart contract features, distributed ledger technologies and a decentralized gaming community who are ready to adopt this type of gaming environment.
One of the revolutionizing blockchain start-up planning to revolutionize the gaming industry is game loot network which plans to use blockchain features such as smart contracts and distributed ledger technology to decentralize the gaming industry. The gaming industry has been centralized and controlled by large institution who have monopolized the industry for their own commercial benefits. Game loot network is planning to use blockchain technology to allow players transact and get rewarded for their participation. Distributed ledger technology will be used on the game loot network to allow the players and developers control the ecosystem in distributed organization management system through a rich robust and transparent game loot network.
GAME LOOT NETWORK PLATFORM.
Game loot is a decentralized gaming platform that will allow players and developers build, play and earn in a transparent, secure and rich ecosystem. The platform will have its tokenized ecosystem that will allow micro-payments and micro-reward system using the power of smart contract. The platform is ready for review on its early stages of developments and interested parties are encouraged to download the application, register and create a user profile.
The platform is a rich ecosystem for developers allowing them to build their games in an ecosystem that is already being used by a large community of users, the developers will be empowered by tools available for them towards making the next generation of games. Game developers will be able to submit their games and create a special custom profile based and also include demos for gamers to try their products.
Gamers will also be able to play games hosted on the platform, the gaming environment is expected to be rich as more developers start usin g the platform to develop more games for the ecosystem, the gamers will be rewarded for their achievements are and also be able to compete in tournament in a decentralized environment.
Both gamers and players will also earn on the platform, developers will be able to earn through game plays and also as their games are bough on the ecosystem, gamers will earn through smart contract tracked achievements and also rewards for the games they win during competition and tournaments.
GAME LOOT NETWORK FEATURES
DECENTRALIZED GAME PUBLISHING.
Game developers will be able to publish their games in a custom portal, they will be able to publish screenshots of their games, offer demo game plays and also offer game play video footage and a description of their games. They will be able to be supported by the community who will sponsor their favorite game ideas, the community helping the development of the games will be rewarded through the revenue generated by the game itself. The gaming industry will dramatically improve in its operations and control through this game industry set-up
GENERATE RECURRING INCOME.
The community backing up the development of their game of interest will be able earn through smart contract in an autonomous payment system, the revenues generated will be shared also with the developer and the players will earn rewards through giving their experiences, views and feedback during game development.
SMART CONTRACT REWARDS.
The tokenized economy within game loot network will be controlled by smart contract features that will allow the network to maintain and manage the network in a decentralized environment where the transactions are expected to be very high.
GAMING TOURNAMENTS.
The players will also be able to participate in competitions organized in the network and include tournaments and peer to peer competitions that will be used to reward gamers in the game loot network. The gamers will earn rewards automatically in LOOT Tokens.
TOKENIZED ECOSYSTEM.
The loot tokens will be used in the ecosystem to act as the fuel to smart contract transactions and help manage and maintain the network through reward-based system. With loot tokens as an incentive player will be able to organize competitions and tournaments in a decentralized environment where the winners will receive rewards automatically through smart contracts into their loot wallet.
Token Sale Structure.
Game loot is currently running an ICO to help with the development of the program, marketing campaign among others, the tokens will be ERC20 Tokens with a total supply of 600 million LOOT, ICO soft cap is $5 Million and the hard cap is $41.6 Million, and the price for each loot is $0.35.
Distribution of Proceeds
The distribution of the capital generated during the ICO will be used towards operational expenses, service support and development of the platform. 20% will be allocated towards planning for tax planning of games developed on the platform, 10% will be reserved for bonuses and for founders and advisors.
Conclusions.
Game loot is an innovative project and its business model is quite detailed and inclusive of business and gaming industry expectation on the revolution brought about by blockchain technology. The tokenized economy through LOOT will see the network quickly adopted by gamers and developers.
References.
Website: https://gamelootnetwork.com/
Whitepaper: https://gamelootnetwork.com/assets/documents/gameloot-whitepaper.pdf
Twitter: https://twitter.com/gamelootnetwork
Facebook: https://www.facebook.com/gamelootnetwork/
Medium: https://medium.com/@gamelootnetwork
Telegram: https://t.me/gamelootnetwork_ico
ANN Thread: https://bitcointalk.org/index.php?topic=3180001.0
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
Ether Address: 0x8E8A5B6e2ABF1Bb64759bDd4DBe788F45B1D4f54
