ChainRepublik is a soon-to-be-launched online video game that will run on a decentralized peer-to-peer network. There is no company or central authority behind the game, allowing it to run solely on the blockchain. ChainRepublik will function with the help of a cryptocurrency called ChainRepublik Coin (CRC) that may be exchanged for fiat money.
ChainRepublik is described as an economic, political, and military simulator game. A man named Vlad Cristian is listed as the CEO, founder, and lead developer of ChainRepublik. According to his LinkedIn profile, Cristian is a native of Romania and founded ChainRepublik in January 2016.
Cristian’s LinkedIn profile also lists him as the founder and CEO of a company called ANNO1777, which is described as “a lead developer of high complexity real cash economic simulators.” The company was founded in 2008 but a Google search found little substantial information about the company, although part of that may be due to the fact that the company is based in Romania.
The ChainRepublik also lists four employees aside from Cristian. One is listed as a programmer, another as a java programmer, another as a PHP programmer, and one as a front-end developer and designer.
How ChainRepublik Works
Part of the goal of playing ChainRepublik is to earn coins. Players may be rewarded for their time and gameplay success with CRC. What exactly players have to do to be rewarded with CRC is unclear. However, there is a page on the ChainRepublik website that appears to explain some of the features and functions of the game itself. Among them are:
- Find a job – Work at a virtual company within the game and then either invest it or cash it in for real money.
- Start your own company – Choose from 30 different types of companies to start.
- Write and get rewards – Create content and get rewarded when fellow players upvote it.
- Get into politics – Get other players to vote for you and receive coins based on your number of endorsements.
- Fight for your country – Become a warrior and fight for your country within ChainRepublik, getting rewarded based on your military experience.
- Run your own node and start mining – Earn coins by spreading the word about ChainRepublik.
- Spread the word – Refer others to ChainRepublik to receive coins.
- Start a decentralized autonomous corporation – ChainRepublik allows you to write code to create your own decentralized autonomous corporation such as casinos or banks.
- Issue your own asset – Create and issue your own type of token.
ChainRepublik will create no more than 21 million total coins. Of those coins, 100,000 will go to developers and 10,000 will be put aside for a bounty campaign. There will also be 800,000 coins available during an ICO that starts on March 30. On that day, one CRC will be available at a price of $1.
The cost of one CRC will increase by five cents for each subsequent day until the official launch of ChainRepublik on June 1. Cryptocurrencies BTC, LTC, ETH, ETC, BCC, DASH, ZEC, NMC, and DOGE will all be accepted as payment. After paying for ChainRepublik, you will receive an email with a private key that will allow you access to your coins.
Is ChainRepublik Right for You?
If you are a fan of both video games and cryptocurrencies, ChainRepublik may be right for you. It’s too soon to say if the game will be worth playing from an entertainment standpoint, but it should at least be on par with similar types of simulation games. It also gives players the chance to earn coins that can be turned into real money, creating at least the opportunity to profit from playing the game.
Benefits & Side Effects of ChainRepublik
The top benefit of ChainRepublik is that it’s potentially a fun game to play. The chance to earn cryptocurrency through gameplay and referrals is a bonus. However, it remains to be seen how easy it will be for players and how much time they will have to put in to earn a substantial amount of ChainRepublik coins.
In the end, ChainRepublik may end up being little more than a niche for people who are equally passionate about computer games and cryptocurrencies.