As the biggest entertainment industry on the globe and one of the most profitable online-based economies, at an annual turnaround of over USD$100 billion, video game market is a very attractive sector for innovation.
Gamers around the world cannot complain about a lack of diversity. Thousands of different games are developed and distributed every year on multiple platforms to satisfy the desires of the most demanding players. However, this has represented a problem for developers. With so many titles in the market, the quality of the game has in itself lost relevance for the commercial success of a game. Getting consumers to notice it via marketing strategies and choosing which platform to launch the titles in, has become of increasing strategic relevance for developers and distributors. Today, marketing budgets for high-end games often exceed the cost of actual game development. On the side of users, interaction with game developers remains restricted and reward opportunity structures are limited.
In a world of increasing connectivity and relentless feedback loops, the video game industry still under-recognizes the potential of direct involvement with their own user base for the improvement of their products and above all, effective user affiliation.
Fortunately, technological developments are quickly offering solutions for these and other issues, and for this particular sector, blockchain technology has the potential to completely revolutionize the way games are used, promoted, distributed and developed.
One of the core changes the team behind The Abyss is trying to develop is a reorganization of the marketing structure for developers, changing it from competitive to collaborative. The project proposes that, instead of spending valuable advertising resources on inefficient all-out marketing campaigns, developers can, through The Abyss, buy and sell targeted traffic from each other, being able to identify specifically which group of users each developer will be more interested in attracting to its product. Developers are encouraged to bring users into the platform, as a referral program allows them to continue to earn rewards from the gamers’ use of the platform, regardless of the game the user plays. The project aims to foster a sort of partnership amongst developers which accrue financial benefits from each others’ success within the platform.
The Abyss will introduce a parallel system for gamers, through motivational programs and referral system that rewards the players for the friends they bring into the platform and any further users these friends bring in as well. Gamers are also rewarded for personal achievements within the games. Users can also earn income by selling in-game items through auction and create user syndicates to potentiate joint reward earnings.
The Abyss intends to offer any kind of games, providing a unified go-to platform for gamers regardless of the product developer, overcoming the need to choose where to launch the product for maximized user impact.
The Abyss uses its native token ABYSS to perform payments within its network, as well as fiat currency. The basis of its business model is that its structure will be money-saving to developers, who can reduce its investment on advertising by accessing an extremely targeted and effective pool of potential players for a fraction of normal marketing costs. In essence, these savings could be directed to game development and game industry improvements for users.
On the other hand, the platform aims to become rewarding and retentive for users, through a reward structure. A user that enters the platform will be given a referral link. He can then invite friends to the platform through the referral link and win a percentage of what the friends spend on the platform. Those friends will then invite others to join and so on and so on. The project’s Whitepaper suggests that through the six-steps of separation theory, technically anyone in the world could end up on anyone else’s referral ladder, including what is known as an F2P MMO whale, that is people that spend hundreds of thousands of dollars per year in in-game purchases.
Under this scheme, an extensive referral network could be a considerable source of income.
Developers receive 70% of the earnings in their games. From the remaining 30% that goes to The Abyss, one third is used to pay off referral program. This innovative reward structure is designed to greatly benefit early gamer and developer adoption, to maximize income, and to impose a strong relationship or affiliation with the community. This strategy has enormous user acquisition potential. After all, who doesn’t want to get paid to play their favorite games with their friends?
The most groundbreaking innovation in The Abyss project, however, has to do with its ICO. The team is launching the first-ever DAICO in the history of the crypto world. DAICO stands for Decentralized Autonomous Initial Coin Offering and it is the brainchild of Ethereum founder Vitalik Buterin. Its innovative design aims at increased transparency and security for investors in ICOs by leveraging crowd wisdom and stricter budget control, characteristics found in Decentralized Autonomous Organizations (DAO).
Until now, investors in ICOs had very little control over project development and fund use by the team and were subjects to fraud and scams by ill-intended actors.
The DAICO is based on a smart contract, and the team establishes a reasonable, although not too high, amount of money to be disbursed by the contract to the developing team every month. If the team needs more funds for whichever reason, it can launch a poll, and token holders can vote, depending on the number of tokens they hold, if they approve of the disbursement of extra funds or not. The team’s tokens and the token reserve do not have a right to vote, and prevention protocols have been included to protect against abuse by large token holders like exchanges.
Further, if the team fails to properly implement the project, there are provisions within the smart contract that allow investors (with the help of Oracles, acting as arbitrators) to conduct the poll for the refund of the remaining funds within the contract. This system gives a level of security and control that is unprecedented and represents a refreshing development for a practice that has produced so many fraudulent schemes. While improvements are still expected to take place within the DAICO concept, it is likely that the concept gains traction within the crypto community.
Token name: ABYSS
Token base: Ethereum (ERC20 compliant)
Total token supply: 609,500,000
Token sale start date: 7th March, 2018 (15:00 UTC)
Token sale target: 5 000 ETH (Soft Cap) | 30 000 ETH (International Hard Cap), 20 000 ETH (The U.S. Hard Cap), 300 000 BNB (Additional Hard Cap)
Token exchange rate: 1 ETH = 5000 ABYSS