Smilegate Stove Coin: Videogame Cryptocurrency Token?
Smilegate is committed to utilizing seamless communication, mutual respect and unmatched expertise to knit a community that seeks to accomplish their common objective. Their goal is to create timeless classic games that can expand their enterprise to allow a bigger audience to experience what the platform has to offer.
What Is Smilegate Stove Coin?
The idea of Smilegate coin is to take the crypto scene to the video gaming sector. With the blockchain technology, the video gaming platform is set to change—for the better. Currently, if you own an item in a video game, it’s only a fleeting database that anyone can snatch from you any time, when a company stops supporting that game.
With the blockchain technology, the ownership continues. The item still belongs to you, in your digital wallet. You can sell, trade, or HODL. The technology will open floodgates for new decentralized gateways to trade your digital assets, beyond he vendor from whom you got it. The idea of ‘Internet of Value’ is taking the world by storm—your crypto assets will continue to have value, and even interoperability.
Smilegate Stove Coin Videogame Cryptocurrency Token
South Korea is not new to digital assets. Along with some of the biggest names in eSports, Smilegate is launching its virtual currency. This will be a copy of the Reddit version (Steemit). On February 7, the company signed a business agreement with the Blockchain-based company The Loop.
The agreement states that Smilegate will introduce its virtual currency in the course of the year to activate its stake, the game portal. The coin has been baptized ‘stove coin’, which is still a tentative name. Stove is a type of game distribution site that can provide eleven kinds of PC and mobile games like Crossfire. It can also raise questions, answers, strategies, and videos.
Smilegate Stove Coin ICO Details
Gamers will use stove coins in exchange for activating an online community on the blockchain. For instance, when a user posts a video on the stove community and attracts a big number of views or receives recommendation from another user, the user will receive a coin.
The system is similar to what takes place in online community such as STEEM, based on overseas blockchains. The SteamBlock Chain rewards users who comment or write with a virtual currency. The higher the viewership and recommendations, the more coins a user receives.
According to a Smilegate official, “The stove coin is not a mining method, and Smile Gate is going to sell all of the coins to the users.” However, Smilegate will not have a virtual currency disclosure that reveals the business plan, sells the virtual currency to the investors, and collects the investment money. This is because the country banned the use of ICOs. With new entrants into the scene, the future is going to change considerably.
Overall, Smilegate Stove is committed to creating a new paradigm for the video gaming community, in which there will be no barrier between the creators and the users. They hope to achieve this by building a ‘decentralized platform’ using the blockchain technology so that the creators are guaranteed clear rights to their contents and the users have unlimited access at sharing their contents.