The idea sounds fantastic: play video games, earn bitcoin. Although this is one of those instances where something sounds “too good to be true,” it actually may be true – at least according to GMO’s new proposition.
GMO is a massive Japanese internet company that launched CryptoChips – an in-game Bitcoin rewards system. The report concerning the system indicates that the application gives players the opportunity to earn Bitcoin as rewards for playing mobile games. As players participate in the game, they can earn the Bitcoin rewards by unlocking hidden levels, completing difficult missions, and succeeding in various other missions.
As GMO states, CryptoChips will be available on the platform’s “Whimsical War” mobile game. The game is a real-time battle game that can be accessed on both iPhone and Android.
The announcement concerning CryptoChips states,
“CryptoChips can be mounted on the game application and allows players to receive cryptocurrency as remuneration within the game – like a ‘secret pocket money’ – depending on the players’ rankings or when players have achieved missions or acquired items. The players must have their own wallets (cryptocurrency accounts) to receive the remuneration (cryptocurrencies).”
GMO’s actions may be just what the company needs to propel itself to the stage where it is a leading figure in the global bitcoin market. The company has identified that one of the main purposes of the CryptoChips launch is to enhance cryptocurrency awareness around the world. Further, the company’s moves may leverage popularity of the global gaming industry and promote the adoption of cryptocurrencies in general.
Today, the company is heavily involved in the Bitcoin mining venture since beginning its venture in 2017 with an initial investment of $3 million. The base of its initial operations was northern Europe due to the cheap electricity and the positive climate. After renting a space for three months, the company not only recouped its investment, but it earned beyond the initial funds. As of May 2018, the company has mined more than 900 BTC and 500 BCH.
Aside from mining Bitcoin, the company also operates a cryptocurrency exchange and wallet service. Such a service was the company’s first move into the world of cryptocurrencies and it has enabled the company to pay some of its employees’ salaries in Bitcoin.