The gaming industry has been steadily growing year after year, with a total of $108.7 billion dollars worth of revenue projected for the year 2017 alone. However, the biggest boom was the in the mobile gaming market growing 19 percent year over year. Currently, mobile gaming has 42% of the current market with a projection of the future to take 50%. This is no doubt that the gaming industry will continue to grow for the years to come. It would then make sense, almost inevitable, for the two of the fastest growing industries, cryptocurrencies, and gaming, both being digital, to join forces.
One such team trying to implement cryptocurrencies into gaming is RewardMob. RewardMob has been around for 2 years now and even has a current product in the gaming industry to show for it. Now they are expanding to the blockchain by using a WAVES token. The idea is simple, work with gaming companies to implement the Reward Mob token into their game and gamers will receive rewards whilst completing the game. RewardMob, as a result, get a cut from advertising and also share this advertising profits with the game developers. Users can also use the tokens to buy-in into competitive competitions.
In order to find out more about the upcoming RewardMob ICO, I chatted with CEO Todd Koch.
Could you give us a brief history of you and your team and what brought you to the gaming industry?
I have always been interested in games since I was a little kid. I always thought how cool it would be making games for people to play. RewardMob took me in a little different direction. Instead of making the games, we help support the developers and create a new way for them to better engage their players and keep them playing longer and more often. We have a very well rounded team. My CTO Colin Bracey has over 25 years of development experience and he has been the lead developer for several fortune 500 companies. Travis Kraft, our CMO had a successful exit from another startup in the medical tourism industry. We identified a huge problem for mobile game developers and created RewardMob as a way to fix it.
You stated in Slack that up until this point, you have been developing the platform for two years with a great deal of preparation for your upcoming ITO (Initial Token Offering), could you tell us where you are at this point and where you plan to expand?
Our original model is Free-to-Play. Players can compete against each other for cash and prizes on their mobile devices. We launched in August of this year on Apple and Android and continue to add more games to the platform each month. We have seen the blockchain as a real revolution in mobile games and our reward system. After the token sale, players will be able to earn tokens which they can use to make in-app purchases in the games, cash them out or use them in the Pay-to-Play tournaments. With the Pay-to-Play users will be able to compete against each other in skill-based events for even bigger prize pools by using the tokens as entry fees. We feel this is a major advantage for us. Most tokens sales take place in order to raise money to build the project. We are using the token sale as a way of getting more people on the platform playing games and using the tokens inside the platform. The development and proof of concept have already been done and people can actually use the non-tokenized platform right now.
There are a few projects on the blockchain that is focused towards gaming, what makes RewardMob stand out from other projects?
Most of the blockchain platforms in the gaming space are focusing on the tokenization of in-game items called skins. This revolves around the buying and selling of these skins from different games. Our approach is completely different. We are focused on the rewards aspect of gaming and working with the game developers to give more value to the players themselves.
In the Free-to-Play games, a player earns rewards by completing objectives inside the game. When the user opens the reward to see what they have won they can either win prizes like gift cards and soon tokens or points that help them move up the tournament leaderboard. This model is ad supported and appeals to millions of people that currently play mobile games for fun. They can now play them and win tokens and prizes. It’s all free for the players to participate. Tokens that are earned can be used to make in-app purchases, sold or traded on an exchange or saved to play in our Pay-to-Play platform.
The Pay-to-Play platform is the next evolution of the platform. Soon players can play in tournaments for even larger prize pools by using their tokens to enter. Players can even create their own tournaments and set the number of participants and the entry fee. They can make them public or keep them private and just invite their friends. We are working with a network of influencers that will be able to live stream specific events and sponsors that wish to add prizes to the tournaments by purchasing tokens to be used as even more prizes.
We have even created a level based system where token holders are rewarded with free entries into monthly tournaments based on the value of tokens that they hold. We see this as a way of providing even more rewards for being a RewardMob token holder.
What kind of games and platforms do you plan market too?
Right now any Android or iOS game can install our reward SDK and be up and running in about 2 to 3 days. We are also creating an HTML5 SDK that will be able to support Facebook and web-based games. We have 2 major game release scheduled for January that will add a lot of new users to the platform and also introduce them to cryptocurrency and the blockchain. I think that is the one thing that I am most excited about. For a lot of people, the RewardMob token will be their first experience with crypto. We are building the Waves wallet right into our app. So each new user that creates an account with us will also become a new Waves wallet holder as well.
What kind of prizes can gamers receive?
Currently, players can win cash, gift cards, movie passes, we have given away snap glasses and other cool prizes from sponsors. This will only grow as we do. We have given away over $17,000 since August.
Why did you decide to move your tokens to the blockchain, and WAVES in particular?
I believe that blockchain is the future of all transactions. The very nature of the design is perfect for what we are doing in gaming. Our platform isn’t necessarily a major advancement in the technology itself. But more of a new practical application for it. I looked very closely at all of the blockchain providers. In particular Ethereum. The major problem was transaction processing speed. A typical mobile game can have hundreds of thousands to millions of users playing at any given time. Transaction speed was one of the major reasons we went with Waves. The new NG protocol was exactly what we were looking for. I have been on the Waves Slack channel and Telegram since June and the support I have received from the members from both a technical and business perspective has been fantastic. The DEX would probably be my other reason and when the smart contracts are introduced next year I can’t see any reason why anyone would build their project on any other platform.
If you would like to find out more about RewardMob, click here for the whitepaper.