SRG: The first decentralized loyalty program for gaming announces ICO token sale
Latest posts by Dean (see all)
- Shrimpy review: automate your crypto trading the easy way with portfolio rebalancing - March 23, 2019
- What Are the Best Blockchain and Software Development Countries? - March 22, 2019
- Betbox ICO Review: create personal challenges, bet on everything - March 15, 2019
Going under the slogan ‘Play & Earn’, SRG is developing the first decentralized, blockchain based loyalty program for the gaming industry. The company is running an ICO token sale starting on October 4th 2017.
A decentralized intra-game platform
At the heart of the SRG offering is an intra-game (spanning multiple games) platform based on Ethereum smart contracts. This platform is set to include both loyalty rewards for regular players and a referral system to reward anybody who introduces new players to a game. As an Ethereum based project these rewards will be distributed automatically and transparently according to fixed rules which cannot be changed without deploying an entirely new contract and starting again from scratch. And of course they will be paid out in cryptocurrency.
Games developers will be able to plug into this system with zero advance fee through an API. The aim of this is to provide easy integration into new games, and to only charge developers as and when they earn money themselves from targeted actions (like new player sign ups).
Maximizing the number of active users through the acquisition of new players and the retention of older ones is the biggest challenge for most games. There is such a massive amount of choice available to gamers today that even the best games can struggle to get themselves noticed. Unsurprisingly therefore, marketing is also a major cost for developers, and one which must usually be born without any guarantee of success.
By sharing this marketing budget with players SRG aims to create a win-win situation. Players get rewarded for the time they put into a game and for their efforts in spreading the word about it, while developers get a pay-as-you-go marketing system in which they are guaranteed to only pay for results.
In addition to the platform itself, stretch goals include e-sports tournaments, an application for popular consoles, a trading platform for in-game items, in-house games development and the establishment of an industry specific investment fund for new blockchain based start-ups.
Not content with simply creating a platform and waiting for an ecosystem to develop around it, SRG have actively developed some impressive partnerships and are promising between 150 and 300 games available immediately after the official launch of the platform.
These partnerships include the Mail.Ru Group, who have a large stable of established games, and development firms Saber, T-bull and Lucky Kat.
The company have also signed a partnership with CEO of Quinto Capital Partners Dmitry Cheleby.
ICO token sale
To raise funds for both the development and marketing of this project SRG is running an ICO crowdsale starting on 4th October.
A total of 20,000,000 tokens will be issued, and 60% of these – 12,000,000 tokens – will be made available for the public ICO sale. Tokens will be sold for $2 each and any unsold tokens will be burnt, permanently reducing the supply and increasing the value of the other tokens.
Every six months 50% of SRG’s profits will be distributed to token holders on a pro-rata basis.
More information on the project itself and the ICO sale can be found here: https://srg.io/