The gaming industry is one of the fastest growing markets in the world at the moment, with a 2017 projected revenue of more than $107 billion according to a recent Global Games Market Report. The indie games industry is growing rapidly, with indie games on popular gaming platform Steam contributing more than $1 billion to this annual revenue.
There are a number of obstacles that stand between promising indie game developers and success, however. Creating a successful game not only requires programming skills, but also requires a firm understanding of the marketing process. Initial startup capital is also an issue, preventing many innovative game developers from releasing their products.
While Kickstarter has been relatively successful in launching a number of indie games, a new platform wants to bring the game crowdfunding model to the blockchain. GetGame, as part of the OpenLedger project, wants to become an all-in-one service that will offer game creators a comprehensive platform through which to launch their games.
The GetGame platform is about to launch an initial coin offering that has now been in development for over half of 2017. In this article, we’ll take a look at the GetGame REALITY Tokens REA ICO and find out what it plans to offer investors to help you determine whether it’s worth investing in.
What Is the GetGame REALITY Tokens REA ICO?
GetGame is a cryptocurrency powered platform that is being developed with the end goal of streamlining the game development process, providing them with the opportunity to generate startup capital to fund their projects. The platform aims to create a method for game developers to connect with investors, as well as streamlining the development process.
The GetGame platform operates on the OpenLedger blockchain project, which received more than $1.6 million USD in funding from a range of different international investors in July 2017. The OpenLedger platform is based on BitShares technology, and operates as a decentralized exchange.
How GetGame Works
Like most blockchain based crowdfunding platforms, the GetGame platform will operate on a native cryptocurrency token. These tokens- REA- will be used as the currency of the platform, which can be exchanged for tokens specific to each game that launches on GetGame.
REA tokens represent a stake in the games on the GetGame platform, and are used to invest in games that have a focus on virtual reality and augmented reality. The GetGame platform also incorporates a strict screening protocol that ensures all of the games accepted onto the platform are of a high quality level.
In order to launch on the GetGame platform, developers are subjected to a validation process, and must also agree to a revenue sharing model that reserves 10% of their future revenues with both the GetGame platform and REA token holders.
The GetGame ICO
The GetGame pre-ICO has already concluded, and the initial coin offering is slated to begin soon. Although the GetGame platform appears promising and has strong ties to the rapidly growing OpenLedger distributed exchange project, it does have some shortfalls that will hopefully be addressed before the ICO launches.
Firstly, GetGame has not provided a white paper detailing the specifics of the architecture of the platform, despite having announced the initial coin offering more than six months ago. Similarly, there is no information regarding the total amount of REA tokens to be generated, their value, how they can be purchased, or how funds generated in the initial coin offering will be distributed.
There are already a number of games that will be launched on the GetGame platform, such as augmented reality smartphone game DinoMess, which is described as a “cross between Jurassic Park and Pokemon Go”. Despite a brief mention in a recent press release, there is no further information regarding this project, nor any mention of it on the GetGame ICO website.
Attempting to view the GetGame white paper via the GetGame website directs users to a “coming soon” page. There is, however, a detailed team page that provides social links to all of the team members involved in the development of the GetGame project.
GetGame REALITY Tokens REA ICO Review Summary
The GetGame REALITY Tokens REA ICO project is a promising initial coin offering that could use some polishing before launch. The fact that there is no white paper available after more than six months of development is a serious red flag, although the project is supported by comprehensive team and creator information.
If you’re interested in following the progress of the GetGame project, it’s possible to sign up for email updates or reserve tokens via the GetGame website.