Blockchain Gaming Company Launches Free Fantasy World Cup Tournament with $135K Prize Pool
June 19 2018 - 10:43AM
ADVFN Crypto NewsWire
A blockchain-based gaming company which offers
its own cryptocurrency for in-game purchases has announced it is
collaborating with a fantasy sports giant and offering free
tournaments to mark the World Cup.
GameCredits is teaming up with
FanDuel, a large daily fantasy sports company,
and says the competitions will run throughout the major sporting
event. As well as $35,000 in cash, the prize pool also offers
$100,000 worth of GAME – the platform’s cryptocurrency.
It is hoped that the fantasy football tournaments, which
commence on June 14 and run until July 15 – the date of the World
Cup final – will help introduce a whole new audience to the GAME
currency.
The company says it has long wanted to break into the
world of fantasy sports – especially since Matt Fortnow joined its
team. GameCredits says he created the very first site in
this now bustling marketplace all the way back in 1999 and ended up
selling the company to CBS, the US entertainment giant.
After news of the collaboration emerged, Mr Fortnow said: “Working with
FanDuel presents an exciting opportunity to establish a presence
among fantasy sports users and to continue to grow awareness for
GameCredits globally.”
According to GameCredits, FanDuel has built a
community of more than 6 million players since launch, generating
more than $4.5 billion in payouts to its community.
“By gamers, for gamers”
GameCredits offers a suite of products designed to
cater to developers, as well as the gamers they wish to reach with
their titles.
Among them is GPlay, a gaming store where developers
receive 90 percent of the revenues generated from sales as well as
in-game content. The company says this figure is substantially more
than the market average, as the likes of Google Play and Apple’s
App Store take as much as 30 percent commission when purchases are
made.
Players also have the chance to earn GAME currency
through an app known as GShare. Here, gamers lease the unused GPU
and CPU cycles in their PC, earning crypto in the process. From
here, the funds can be used to purchase “the best, newest and most
popular PC games” – often at a discount.
This is coupled with GWallet, a universal wallet which
is designed specifically for buying games and purchasing extras in
play.
Now a 100-strong team with team members in Russia,
Serbia, India, the US – GameCredits says the company’s founders are
“first and foremost gamers” who are determined to change the
industry for the better. They argue that gaming has been unfairly
dismissed as a waste of time, when in fact it can relieve stress
and be used as an educational tool.
Benefits for developers and gamers
GameCredits says its ecosystem benefits developers by
ensuring they receive payments faster. Whereas some platforms
impose a 60-day waiting time before remuneration is delivered, the
company says its creatives can expect compensation to arrive within
60 hours instead.
The young company, established in 2016, also hopes to
boost the revenue potential of developers by introducing “limitless
deposits,” helping earnings to rise substantially. At the same
time, it believes its blockchain technology will help cut the levels of
fraud seen when virtual transactions are being made.
The platform also aims to enhance the purchasing power
of players by ensuring that the credits earned in one title can be
easily transferred to another through the universal wallet.
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