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Popular Arcade Game Launches Token Sale with Shapeshift

Op-ed - Popular Arcade Game Launches Token Sale with Shapeshift

Spells of Genesis, one of the most highly anticipated arcade games of 2015, developed by well-known game developer EverdreamSoft, is introducing and implementing bitcoin and its blockchain technology in the game’s storyline and as an in-game currency.

Before the game’s launch on both iOS and Android Play Store, EverdreamSoft plans to host a crowdfunding campaign for its game and storyline development. Spells of Genesis will be using BitCrystal tokens as its in-game currency which can be used to purchase game items and to trade with other users within the game.

The concept behind Spells of Genesis’ crowdfunding campaign is similar to Ethereum’s: People purchasing BitCrystals will become investors and will be provided with BitCrystals early on. BitCrystal is a tradable Counterparty asset, which can be traded and purchased on the Counterparty platform.

BitCrystals also operate on the bitcoin blockchain and therefore, there is not much difference in using bitcoin or BitCrystals.

“Both Bitcoin and BitCrystals are digital tokens operating on the Bitcoin blockchain, and both have monetary value,” Emily from ShapeShift told Bitcoin Magazine. “I don’t think there’s anything significantly different about using one vs. the other.”

EverdreamSoft initially planned to launch its in-game token sale on a decentralized bitcoin-powered crowdfunding platform Swarm. However, due to technical difficulties, the game developers will be launching its crowdfunding campaign on the BitCrystals website.

Furthermore, Spells of Genesis has partnered with ShapeShift to have the altcoin exchange power the Spells of Genesis BitCrystals Token Sale, begining on August 4.

The ShapeShift team explained on their blog, “BitCrystals were designed to purchase new card decks and game items while working as the medium of exchange within the gameplay. These tokens are tradable Counterparty assets which serve as the in-game currency in Spells of Genesis.”

“BitCrystals will be available to buy or sell on ShapeShift after the crowdsale is over,” Emily told Bitcoin Magazine.

Expected Sale

EverdreamSoft expects to serve tens of thousands of users in the first few months from its launch.

“We expect the first few months to quickly achieve about 50,000 MAU (Monthly Active Users),” Shaban Shaame of EverdreamSoft told Bitcoin Magazine. “Usually the conversion between a free player and a paying player in the game industry is about 5 to 9. If we convert 5 of the player base into purchaser we estimate to have 2,500 paying players. In our experience on our previous game Moonga the MARPPU (Monthly Average Revenue Per Paying user) is about $40 USD. So the first month’s estimated BitCrystal we receive should be around 2,500 * 40 USD = $100,000 USD value of BitCrystals per month.”

Shaban explained that the game intends to take full advantage of the Bitcoin blockchain and its shared economy.

“We believe when project [is] crowdfunded people who pre-purchased the product should receive a part of it,” Shaban said. “They should take part in fueling the game economy. Once the game is funded and up and running, all the assets we put on sale will be acquired with BitCrystals (BCY).”

Image Herckeim / EverdreamSoft