Good day GAME Credits faithful,
Welcome to the monthly update which will cover the full scope of the networks operations as we gear up towards our transition to Ethereum in July. We will cover all of the functional groups at GameCredits along with details on the merge and some other developments that we are very excited about.
Once we cut over to Ethereum this summer we will begin doing functional group updates through Medium to compliment the monthly update. We are growing very fast right now as a company and to maintain our level of communication and transparency with the community this change will be needed. Another step in the right direction for the World’s first gaming crypto — now lets jump right into it!
We keep growing in the development group, recently adding in another full stack dev to assist us on various areas of the platform. We are constantly looking to add more resources as you can never have too many quality devs in-house.
We are speaking with several more currently and plan to double the size of our development group in the next twelve months. The key to this goal is ensuring that our growth is done in a sustainable way. Creating quality on-boarding and new-hire material is something we are making time for so that we are able to ramp up quickly. In terms of focus, we are spending time rounding out our test cases for the MVP, adding in functionality for the Rewards portal as well as GAME MINT and GAME Exchange. These features will be deployed to the Ethereum mainnet over the course of the year.
Stay tuned for development-centric updates post merge which will include a defined road-map for features and some visuals on what each feature will look like once it is live on the platform. In terms of our second layer solution partner, Skale is progressing well with their testnet which is allowing us to perform our testing in lockstep. We plan to have everything lined up in this regard for our July mainnet debut and with how important Skale is to us in the long term, we are excited to see them progress to the point where they will soon be able to fully support us.
There is a litany of daily activity in the marketing group so I am going to provide some highlights on the key programs being worked on for this summer / fall. As these programs mature fully the marketing team will be making announcements and will also begin giving group-centric updates that go over and beyond what is encapsulated in the monthly updates here.
Some of these items are part of bigger campaigns we have going on later in 2020 so we are being careful to not give too much away just yet:
The platform group is now busy undertaking the task of having the Rewards portal up and running for the July main net release. This means fleshing out improvements in the UI / UX, speaking to games to get them signed up for July and understanding what their needs are. This last part is where we are truly beginning to form strong relationships with games.
The Rewards portal is setup in such a way that we can tailor the approach we take to delivering rewards based on each game developers needs. If a game wants to hit certain metrics with their players in-game, we can help cultivate incentives for this via our tiered rewards. When a holder of GAME stakes on a certain game they like, they begin earning loyalty points from that game. Over time, the holder of GAME can take those loyalty points and redeem them for various rewards available to them via the portal.
The higher the tier of rewards, the most costly the item will be in terms of loyalty points but also its rarity and exclusivity. To unlock the highest tier of rewards, holders of GAME may be required to achieve certain in-game feats. E.G. — a player of Nova Biltz must have a level 20 account to unlock the gold tier of rewards for NB on our portal. Only then will the player / holder of GAME gain access to that top tier to begin redeeming their loyalty points for the very best rewards that game has to offer.
This is just one of the ways we work with game developers at GAME Credits to help understand what metrics they are trying to achieve. The platform team is also hard at work expanding the use-cases of the Rewards portal. We are rather excited about this piece and cannot say much just yet however you can expect to see the Rewards portal evolving to offer more verticals. This will translate into more choices for holders of GAME and more opportunities for companies in and outside of the crypto space to work with GAME Credits and take advantage of the Rewards portal.
We have also just recently acquired a key piece of intellectual property (IP). There will be a separate announcement for this coming very soon that will detail why we acquired it and all of the benefits it brings to the company and holders of GAME. And finally, we have begun cultivating our Esports presence over the past few months. GAME Credits was created to bridge the gap of Esports and the world of crypto and blockchain, a commitment we take very seriously. Several advisors have been added to the team that are experts in Esports and that has begun paying dividends. There will be a campaign coming soon that will bring to life the full potential of what we can and will be doing for the Esports industry here at GAME Credits — stay tuned for that this summer.
Now that the initial dust has settled from the announcement of the merger, the industry has had some time to consume all of the information and the impact from this move. The feedback continues to be positive as we have had dozens of interested parties come to us looking to invest, with the company also reaching out to various entities to gauge interest in a capital investment. There are media opportunities and case studies we are looking to take part in as the word of our crypto M&A continues to spread through the non-crypto business world.
We have also had many doors opened with mainstream Esports entities which is the precise doors we wanted to gain access to as part of the merge. As we define our Esports strategy you will begin to see partnerships formed with companies and individuals that will play an integral role in fulfilling our strategy.
After a tremendous amount of discussion, coordination and planning — we are now ready with all of our partners to officially move forward with the merge. These transitions become projects unto themselves as every piece must be handled with care, thought out well in advance.
All of the details you need to know regarding the merge are contained below. We will also be making constant noise via our social channels and in the industry regarding the snapshot date so everyone is aware of the big move. The company put much thought into this process since it covers many areas of consideration. Essentially, we are taking two networks that each have unique values and merging them to create something that is greater than what either entity could become on its own. The reason this merger is working out so well is that each side truly brings something of value to the table that the other is missing. Both networks have had ample time to prove that they have something great to offer and that they also are struggling to achieve other key pieces. These pieces are the foundational blocks of what make up a top network in the crypto and blockchain space.
Our job in creating this merge is to find the fairest value for both networks when looking at all of the tangibles and intangibles they bring. To this end, we feel that both networks bring an equal value to the other. We could go back and forth endlessly debating various aspects of each entity internally as a company but at the end of the day, this harmonization of two networks works because they are equal dance partners. We understand it is an impossibility to attempt to make everyone happy and that is not the goal we are trying to achieve.
Some will feel that GameCredits is worth more in its current state before we came over and some will feel NovaToken brings more value due to the platform, team, funding and partnerships. We understand and appreciate that there will be many different perspectives and that is simply part and parcel with having a large community that is engaged with us. The following are the key details regarding the merge itself:
The outlook the team is taking to this fresh start is a long term one. We are on the cusp of what appears to be a prolonged financial downturn resulting from the near complete shutdown of the global economy. As more crypto and non-crypto businesses go under, it becomes clear that having a solid short, mid and long term strategy is going to be needed for this new decade. The above allocation of the supply allows us to move forward with the confidence we will not have to stop the momentum we have worked so hard to achieve because of short term funding issues.
We will aim to have as many of the redemptions processed as fast as humanely possible and have gone to lengths to ensure that the Nova and GAME community does not have to do much of any work. We wish this to be an enjoyable and seamless process that takes place as we transition to the new era of GAME Credits.
Your patience and support during this transition is something the team very much appreciates. We are moving our platform forward, forming new partnerships resulting from the merge all while coordinating the many moving parts of the merge itself — on top of that we are growing monthly as we add new members. This process has been much easier and enjoyable due to the great community we have here. Everyone at GAME Credits HQ is excited about where the future is taking us and we hope you decide to stay along for the ride.