NITRO is looking to build a blockchain-powered platform with the goal of empowering anyone that seeks to partake in the video game economy. It also purports to being the world’s first cryptocurrency backed by a listed company, that company being iCandy Interactive Ltd (ASX:ICI).
The project is counting on the gaming industry’s unquestionable growth and potential future. Indeed, gaming is one industry with great potential and in spite of having displayed growth over the past years and perhaps even decades among other industries, its potential is not shun amid big entertainment industries.
The industry’s potential alone might be great, but the team behind NITRO also appears to be on track and armed with the necessary knowledge to create an appealing yet advanced platform with the goal of democratizing and revolutionizing the video game industry. While this sounds like quite a stark statement, the roadmap of the project showcases a comprehensive path towards such incentives.
While NITRO’s team acknowledges the difficulties of partaking in the success of the gaming industry, bringing blockchain innovation in the game seems to have the potential to foster success. The project sets on improving the industry’s inefficient economics and indirect payment structures, this way benefiting both the consumer and companies in the receiving end of payments.
NITRO also sets on the goal of allowing developers to have easier access to funding, and according to the project’s whitepaper, plans to democratize that process by funding studios based on demand by token holders. Participants of the ecosystem holding the platform’s tokens (NOX) would be able to vote on their favorite projects, this way incentivizing studios to develop games that will be loved by the community.
This more direct approach to funding has the potential to revolutionize game making, as developers would be directly interested into pleasing the crowds when developing games instead of appeasing potential investors. Moreover, the reverse type of transaction is also conceptualized into being made possible through the platform. Essentially allowing game studios to incentivize players to complete certain tasks for NOX rewards.
Additionally and most importantly, revenue sharing is going to be favor token holders, as they’re going to receive timely rewards for funded games within the platform. Of course, this is going to be the final link in the chain of events that’d lead up to this point. For any potential game studio to enter the platform, it would need to go through the initial curation by the project’s developers first, for it to enter the platform for voting, and potential funding and revenue sharing at later stages.
All in all, with NITRO’s proposed toolset of utilities, gamers and developers alike would have a set of unique yet powerful abilities to base their activities upon. The platform’s concept has the potential to revolutionize aspects of game publishing of done right but potential investors ought to remember that the project is developed while big competitors are already established in the game industry’s arms race.
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