GTA and PlayStation veterans start blockchain-game publisher
Cryptocurrency investors have the chance to share in the profits of a video game publisher. Former senior executives from companies like PlayStation, Take Two Interactive and RedOctane have formed a blockchain-game publisher called Planet Digital Partners Inc. Its aimed at democratizing the process of video game publishing, development and investment.
The company plans to reach its goals by using blockchain technology and its own security-based token called Rocket Token (RKT), which is an ERC20 smart contract. The security token will be a new way to guarantee funding for upcoming projects, according to CEO Steven Grossman. Token sale will start in the first quarter of this year
The RKT token rewards investors proportionally to the growth of the game sales. RKT partners receive 80% of the net profits until completely recouped, and 40 percent net profits thereafter. Holders of the RKT token also get 5% of the sequel game net profits until 2025.
The team is selling 38 million tokens, worth one dollar each. There's a minimum investment of 25 thousand dollar per person. The investment period will end on April 1st 2019. The minimum for first closing is 500.000 dollars, and unsold tokens will be burned.
The blockchain aspect of the publisher isn't only in its investment model. The company wants to utilize the blockchain as an integral part of game development. There will be private keys within each game, creating unique games for everybody. Online tournaments, in-game rewards, permanent consequences, and map creation, are just some example of the things PDP wants to add to their blockchain games.
Among the games that will get a blockchain treatment, the publisher is mentioning Cooking Mama and the Cabela hunting series. The company is also looking at obtaining licenses for 'horde mode' and Godzilla.
The company suggests a three year development cycle for its games. Starting with a core concept prototype in the first two months, followed by a pre-alpha game six months later. Eight months later the game as a whole can be experienced, after which the team will take up to 18 months to polish the game and add all the needed graphics, physics, video and sounds. After which a game will be released with proper marketing.
Grossman is the CEO of Planet Digital Partners Inc and worked with a variety of media companies, including Nintendo, Warner Bros, Midway, Vivendi and Electronic Arts. Other positions are filled by Chris Deering, who's former President of Playstation Europe, and Kelly Sumner, who was the CEO of Take-Two Interactive when it launched Grand Theft Auto III and he also brought RedOctane to the market with Guitar Hero.
Posted from my blog: https://www.nederob.nl/2019/01/18/gta-and-playstation-veterans-start-blockchain-game-publisher/