Friday, November 24, 2017

NITRO - Empowering the Video Games Economy

NITRO is an independent blockchain based online collaboration project that involves the creation of an online electronic marketplace for the various stakeholders of the game economy (“NITRO Marketplace”) and a new cryptocurrency called NOX token (“NOX” or “NOX Tokens”). As they are being built based on the blockchain technology, the NITRO Marketplace and the NOX tokens developed are decentralised systems running on the Internet.

Development of the NITRO Marketplace and sale of the NOX Tokens will be undertaken by Nitro Interactive Ltd (“Nitro Interactive”) , a private limited company incorporated in the British Virgin Islands. The NITRO project is supported by iCandy Ventures Ltd (“iCandy Ventures”), a 100% owned subsidiary of iCandy Interactive Limited (“iCandy Interactive”), an Australian incorporated mobile games studio group that is publicly traded on the Australian Securities Exchange (ASX), with presence in Australia and Southeast Asia. iCandy Ventures has beeen appointed as the publisher for all games funded by NITRO. iCandy Ventures will make use of all its experience and resources to promote games funded by NITRO , which would greatly help to kickstart the development of the NITRO project.

Nitro consists of 2 key components, the Nitro marketplace and 2 tokens that holders can use for different purposes; NOX (Nitro Token), a club card with privileges attached and NOD, a USD-pegged sub-token to be used as a form of in-game currency (Nitro Dollar).

With NOX, holders can:

  1. Participate in the economy by voting on games to be funded, 
  2. Receive a discount when purchasing NOD, to be used as a form of ingame currency, 
  3. Receive bonuses for activities taken in the network.

Nitro will fund games voted in by NOX holders on the platform. Promising Game Studios (PGS) will have access to much needed funding and will be able to connect with gamers earlier on in the development cycle. This will greatly improve the quality and variety of games produced.

There is no easy way to participate and benefit from the video-games economy

The Problem of Imperfect Information
Apart from funding, the main reason for this boils down to imperfect information flow; which is a problem caused not by a lack of will, but a lack of opportunity.

Promising Game Studios would like to incentivise gamers to play new games that have been launched, but current means of communicating (either through ad platforms or app stores) make it difficult to reach out to gamers directly. Communication is only possible through forums and/or social media platforms.

Promising Game Studios too would like to receive feedback (via playtests or other types of tests e.g. polls) from these gamers, such that they can create games that can be well-received. However, it is typically difficult to gather a large enough community of representative gamers for feedback to be meaningful, with this problem being more pronounced for Promising Game Studios due to their lack of resources.

Solution: Nitro, an Alternative Platform
This would be the first blockchain-based cryptocurrency ecosystem to be backed by a publicly traded company - iCandy Interactive Limited (ASX: ICI), a mobile game studio group publicly listed on the Australian Securities Exchange. It has already attracted the attention of the industry, and is currently backed by both game industry veterans and venture investment professionals.

The platform - Nitro – harnessing the power of blockchain technology and cryptocurrency, will empower token-holders globally to benefit from the video game economy via:

  1. Participating in selection and funding of promising games curated by experts 
  2. Engaging with game producers, marketers, publishers and financiers in the games marketplace and exchanging tokens for in-game items/currency or other benefits. 
  3. Potentially receiving rewards from the success of the games funded by the Nitro network.

What is envisioned, is that the new platform will fix what we see as fundamental problems within the industry. These problems, as mentioned in the earlier sections, refer to the difficulty of the layman in participating in the video-games economy, the lack of diversity caused by the presence of large oligopolistic market in the industry and the communication inefficiencies that exist between all gamers and game producers.

On the macro-level, Nitro seeks to connect what we see as a fragmented and disconnected value chain, envisioning a holistic platform which brings together developers, marketplaces, publishers, and gamers, in order to solve the problem of participation and information flow between these various players for the overall benefit of the industry.

Details of Token Sales

Pre-Sale : 
  • 19 November to 23 November
Crowdsale Date  : 
  • 1 December to 26 December 2017
  • TOKEN PRICE : 1 ETH = 800 NOX
  • TOTAL SUPPLY : 120,000,000 NOX
  • MAXIMUM TARGET :  85,000 ETH

More Info

Ann Thread :
Website :
Whitepaper :
Abridged Whitepapper : Here
Facebook :
Twitter :
Telegram :

Author : mriansa;u=886049
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