Magic Cube to build a new decentralized gaming ecosystem on NEO
Magic Cube, a NEO-based protocol is planning to build a decentralized gaming and entertainment ecosystem on the Neo platform. The company currently has 23 games live and in development, with an average monthly active user rate of 150,000 users per game.
Since it already has a presence in the gaming space as Magic Cube LLC, a game development studio and publisher, the company has taken this initiative, according to the Neo News blog. Magic Cube is committed to asset-binding all virtual consumer goods (games, music, film, etc.) and implementing a new token economy that drives
network effects for entertainment projects
Magic Cube (@MC__Foundation) is planning to build a decentralized gaming and entertainment ecosystem on $NEO. The company currently has 23 games live and in development, with an average monthly active user rate of 150,000 users per game. https://t.co/AH0tWRLmmf
— NEO News (@NEOnewstoday) October 9, 2018
Usually, when game developers are looking to release their game, they do so through game publishers, who in return do not provide necessary financial stability for long development cycles. The developers, in turn, forfeit the majority of rights to their games in the deal. Therefore Magic Cube with its blockchain based protocol will publish their own games without the help of these publishers.
Ideally, Magic Cube will replace publishers with a token economy. Through a crowdfunded initial game offering (IGO) with the Magic Cube protocol, developers can easily retain their own rights to the game. To freely trade in-game items, Magic Cube will support non-fungible tokens.
After completing an IGO and developing an in-game utility of the token, it will be tradable on an open market with utility tokens on other games. This will indeed create a positive network effect with both developers and users especially early adopters being fairly rewarded for supporting, marketing, or improving the game.
“I have long believed that blockchain technology will forever change the gaming industry, and Magic Cube is committed to being at the forefront of that change. The Magic Cube team’s deep experience in the gaming industry and global reach should allow us to expand our operation from China to other large gaming markets, specifically the U.S,” said Rudy Rong, CEO, Magic Cube.
Image via Shutterstock
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