OREN is a blockchain-based ecosystem that launched its token sale on September 15. Find out more about OREN today in our review.
What is OREN?
OREN is a blockchain-based platform that aims to connect the three core parties of the online gaming ecosystem, including gamers, game developers, and game publishers.
OREN wants to bring all three of these parties together into a new, disruptive, decentralized, and open market to ensure fairness, quality, and a competitive marketplace with low entry barriers. The ultimate goal is to help each of the three parties grow and develop in a more efficient way. OREN also seeks to solve some of the biggest problems in the gaming industry – like game developers not being paid a fair share compared to game publishers.
In more general terms, OREN wants to help game developers of all sizes – from big-name studios to indie studios – create and distribute games in a more efficient way.
How Does OREN Work?
The name “OREN” is the base cryptocurrency used within the OREN platform. The currency is used to pay transaction fees, to trade, exchange cryptocurrencies, exchange games and game assets, bid for game revenue sharing, purchase games and in-game items, and conduct other activities. The developers of OREN encourage you to compare OREN to Ether on the Ethereum blockchain.
The OREN ecosystem revolves around hundreds of publishing platforms called host nodes. These host nodes are connected to one another. Clusters of game developers and host nodes will decide how the revenue stream will be divided on a per game per host node basis.
Smart contracts are used to ensure that revenue distribution takes place automatically, instantly, and transparently.
OREN Platform Features
Some of the key features of the OREN Platform include:
Transparency: All auctions, contracts, deals, trades, etc. are recorded on the blockchain using a smart contract system. Transactions are instant, secure, and transparent.
Universal Game Development: OREN gives users the ability to create games with cross-platform support. The developers are working on implementing all types of game engines into the platform, and they claim easy-to-use API libraries will be released in the near future.
Open Market Auction Based Revenue Sharing: The revenue-sharing model between developers and game publishers is decided through auctions per game per publisher. This aims to make a fairer system for both developers and publishers.
Safety Mechanism for Price Drops: OREN has a safety mechanism in place to protect against huge price drops due to market manipulations – like a pump and dump scam. The platform has an automatic system that reduces the active supply of ORENs if a “mega dump” takes place. This automatic system involves offering the maximum possible interest rates for early coin lock-up. Within a couple of hours, this should nullify the effect of the market drop.
Built-in DEX: OREN Platform has a decentralized exchange – or DEX – built into it. The exchange is split into two sections, one for cryptocurrency exchanges and the other for in-game asset exchanges. This aims to provide easier access to OREN coins for gamers while also providing easier liquidity for publishers and developers.
Earn Money By Gaming: Most gamers would love to get paid to play the games they love. OREN aims to let gamers do that. Gamers can play “demanding games” and then sell in-game loot from those games on the DEX. Other income earning opportunities include competitive gaming tournaments, decentralized streaming services, and more. Overall, OREN wants to give gamers a way to make a successful income through the platform.
Who’s Behind OREN Platform?
OREN is being developed by Ronnie Mason (Founder and CEO), Sophia Neustadt (Co-Founder and CTO), Ralph Kalb (Executive Producer), Mike Chavira (Head Producer), and Timothy Ohara (Project Manager).
The idea for OREN was first formed in August 2016, and development began in December. By February, OREN had been deployed on a testnet. The company is aiming for a full public launch by the end of 2017.
What Problems Does OREN Platform Seek to Solve?
Obviously, the gaming industry already has a number of OREN’s features in place – we have Twitch for streaming, for example, and online game marketplaces. So what problems does OREN seek to solve? Here are some of the issues mentioned in the company’s official press release:
- Publishers tend to have the loudest and most powerful voices when it comes to restricting games, and determining how game revenue is allocated; this means developers (the people who actually make the games) are losing revenue, and are missing out on design and programming talent
- Merchants restrict access to certain games based on location; game developers in a number of countries can’t participate in the industry
- Payout delays and chargebacks take money away from developers
- Gamers are under-represented and under-compensated for their role in the gaming industry; pro gamers may compete for money, but the vast majority of gamers aren’t pros, and can’t make money through tournaments
OREN seeks to solve all of these problems using blockchain technology.
The OREN Crowdsale
The OREN ICO pre-sale is scheduled for September 15 to 30. The ICO will take place from December 30 to January 31. The price will be 1 ETH = 1750 OREN tokens during the ICO, or 1 ETH = 3000 OREN tokens during the pre-sale.
40% of the total supply of tokens will be sold during the pre-sale. 40% will be sold during the public ICO. And 20% will be reserved in an escrow-protected fund.
OREN is an ambitious project that aims to unite gamers, developers, and publishers onto one blockchain-based platform. The goal of the platform is to connect hundreds of publishing platforms – called host nodes – to one another, then allocate certain rights to clusters of host nodes – like deciding how a revenue stream will be divided on a per game per host node basis.
OREN’s crowdsale is taking place throughout September.