Hoard is a platform that aims to provide “true ownership” of virtual assets – including in-game items – on the Ethereum blockchain. Find out how it works today in our review.
What Is Hoard Exchange?
Hoard, found online at Hoard.exchange, is a platform that uses blockchain technology to verify ownership of in-game items.
The Hoard whitepaper mentions assets – like unique in-game items – comprise 78% of revenue generated by the entire industry. Despite the widespread appeal and value of these items, gamers rarely have ownership of the items. Ownership is controlled by the game’s centralized server, for example, instead of being genuinely owned by the user.
Hoard aims to solve that problem using the Ethereum blockchain.
Hoard first appeared online in March 2018. As of May, the platform is in active development, although the platform has not yet been released. Hoard is also planning an ICO for its HRD tokens in the near future, although dates for that ICO have not yet been announced.
How Hoard Exchange Blockchain Video Gaming Ownership Works
Hoard lets you “hoard” your in-game items as easily as you hold any token. Your digital assets can be represented by Ethereum-based tokens, then securely stored in your Ethereum ERC20 wallet. You have real ownership rights over your in-game item and those rights are secured with blockchain technology.
Transferring item ownership to ERC20 tokens leads to another benefit: it makes in-game items easy to trade. You can trade items – including the verified ownership of these items – as easily as you would swap any blockchain-based token.
Hoard isn’t just for in-game items like skins. The platform can also be used for things like licenses that prove ownership of a game or software, for example, or in-game currencies.
Some of the potential items that can be “hoarded” through Hoard include:
- Game Items: “From weapons to quest, levels and more, everything can be tokenized and represented on the blockchain,” explains the official Hoard website.
- Licenses: Sell your extra licenses, buy them as gifts, or trade them.
- Currencies: In-game money can be represented as digital tokens, giving it real value and better transferability.
Hoard has integrated their system with major gaming engines like the Unreal Engine and Unity. Hoard will release a standalone SDK in multiple languages. Developers can easily integrate Hoard with Unity or Unreal Engine games using a plugin. The platform also comes with a secure dashboard.
Developers, meanwhile, can get a complete overview of the items and money economy circulating for their game. There’s a Hoard dashboard that provides at-a-glance information about the various items and currencies within a game’s ecosystem.
Other key features include smart wallet and third party integrations, secure payment gateways, and the ability to setup complex behavior like renting and escrow using secure smart contracts.
Hoard’s SDK will be 100% free and open source.
The platform will also have a crowdfunding mechanism that allows game developers to launch their own ICOs. Game developers can pre-sell in-game currency to raise money for development, for example.
Hoard Exchange Features
Hoard’s platform will consist of three core pillars. Blockchain-based virtual item ownership is just one of these pillars:
True Ownership Of Virtual Content:
Hoard will enable true ownership of virtual content in video games via blockchain tokens. The platform will support blockchain-based ownership of in-game currencies, items, character skills and abilities, real estate, and more. Users who own virtual items will be able to securely trade those items as easily as they trade any cryptocurrency.
Hoard will also have a fundraising platform where game developers can create their own ICOs. Game developers won’t be forced to release trinkets, toys, or other gimmicks as a reward. Instead, they can reward early contributors with in-game items and currencies verified by blockchain technology.
A Solution For Technological Unemployment:
Hoard aims to tokenize virtual goods and services, thereby creating an entire ecosystem of virtual goods. Hoard envisions a future where “mom and pop”-style shops can sell any and all forms of virtual merchandise online.
What Problems Does Hoard Exchange Seek To Solve?
The digital asset marketplace is exploding with growth, yet the market is filled with various problems.
Today, the vast majority of money spent on games consists of virtual items or downloadable content (DLC). In 2017, virtual item sales accounted for 78% of total gaming revenue, or approximately $80 billion. This statistic doesn’t include gameplay-related virtual content, like content you receive for defeating enemies, looting an opponent, or completing in-game tasks.
Despite the enormous size of the Hoard market, there’s no good solution currently in place. Here’s how the Hoard website explains the problem:
“The current situation is that gamers do not truly own the content that they have purchased. They cannot trade them, sell them or even gift them to other people. In fact, these items are completely in control of game companies or distribution platforms, who can choose to revoke usage rights at any time, often without recourse.”
In other words, users have limited control over their in-game items. This is holding back the industry. Hoard wants to solve that problem.
Who Is Behind Hoard Exchange?
Hoard is led by CEO and founder Martin Amor, the lead programmer of Anarchy Online, one of the world’s first major MMORPGs. He was also the technical producer of the Hitman series (Hitman 3 to 5) and Mini Ninjas. Overall, Martin has 18+ years of gaming industry experience. He also has a track record of promoting Ethereum as a way to improve the world.
Other listed members of the team include Thomas Hagen Johansen (COO), Wendell Davis (Product Design and Co-Founder), and Cyryl Matuszewski (Lead Programmer).
Hoard is based in Denmark. The company lists Imapp and OmiseGo as investors/partners.
Hoard Exchange HRD Token ICO Details
Hoard is holding an ICO for its HRD token. The HRD is an ERC20 token on the Ethereum blockchain.
The date for that ICO has not yet been announced (as of May 2018).
Hoard is seeking to raise the ETH equivalent of $30 million USD during this token sale. There’s a total supply of 1 billion HRD tokens, all of which will be minted at the end of the crowdsale period.
Of the total supply of tokens, up to 50% are going to the public contributions pool (the crowdsale pool), with remaining tokens allocated to the private contributions pool (up to 25%), the Hoard A/S/project pool (12%), and to founders, investors, and team members (13%).
Hoard Exchange Conclusion
Hoard aims to create a blockchain-based ecosystem that facilitates the transfer and secured ownership of virtual items – including skins, in-game items, in-game currencies, and more. The platform also seeks to offer a crowdfunding mechanism that allows game developers to launch their own ICOs.
To learn more about Hoard and how it works, visit online today at Hoard.exchange.