TriForce is the next gaming product based on the blockchain protocol with an aim to provide player-centric benefits and upgraded security plugs to become ‘the’ landmark in the gaming industry for other companies to draw standards from.
The gaming industry is a relative environment where tokens and reward mechanisms are often used. Players are accustomed to these terminologies and associate themselves with the periodic and stage tasks assigned when playing. Bounty hunting is also another feature of this fun environment. they basically incentivize gamers for certain types of tasks accomplished to build followership and engage more users with the company’s product.
Globally, the games market is valued at $100+ Billion USD (as at 2016) with an annual growth of 6.2%, this figure is expected to reach $128.5 billion USD by 2020. This is a very good business and is also a lucrative venture, as many fans and players exist and generate so much income for developers and game companies. The revenues are generated through purchases and in-app purchases that come along with other utilities of the games.
About 50 – 60% percent of individuals fall into a specific category of subscribers: be it downloaded/boxed PC, browser PC games, console, tablet, smartphone; there’s a category for everyone.
It’s certainly not surprising that models such as this using the blockchain technology should be developed. The gaming industry is an economic asset to any nation as they contribute quite a wholesome amount of revenue to the state.
The most common types are those associated with smartphones, as it has changed the way people play them. It is a fact that with increased specifications and adaptive features of mobile smartphones, anyone anywhere can now play their sophisticated games and share the data across their connected devices. This means that there is a gradual adoption of the ecosystem to almost every sphere of technology due to convenience and accessibility.
As a fact, an estimated 62% of mobile smartphone users are players, as they install these apps upon receiving their packages from the store. This means that of the 3.25 Billion smart device users (to include smartphones and tablets) about 1.75 billion users are consistent clients of the industry.
The major problem of the gaining industry, especially with those of the indie groups, is that of high attrition of gamers. This is increasingly becoming a more difficult challenge to deal with, and it is creating a higher inefficiency ratio of the companies affected.
With this new token, companies can measure the system’s functionalities and account for how users really value their products. This data can then be used to improve on the output experiences and that of the sessions in real-time. In the end, there will be a vast change in how players respond to these applications and also lead to lower attrition rates.
More so, the idea of being able to link digital currencies will enhance the quality of play and also help the players benefit from the monetization scheme created by the tokenized industry.
The collaborative gaming experiences will create a new ecosystem of subscribers whose activities will increase developers programming quality and also generate income that can be used to improve products.
Most multiplayer games lack real-world incentives that can drive player enthusiasm and help the player attract more play turns. With this new ecosystem, players can tap into their playing skills and earn rewards as they play their favorite games.
This new trend has changed the way developers can access funds to develop these applications and oftentimes the market is choked with too many competing demands and very low qualitative supplies. Hence developers have to resolve to incenting players to patronize their products at the expense of low to no ROI.
Monetization of this system is the highest in the difficulty levels for both game players and developers.
New strategies to attract new players have to be creative to outshine other competitors and also not lose effective communicative values to their clientele. For large companies that are already established and well advanced in development, this may not be too challenging as they have already built their reputation on the early days of technologically enhanced gaming experience. But for smaller corporations, the challenge is not just striving for the crumbs but trying to stay alive as other competitors may pouch their clients if they aren’t looking.
Gaming API development is a tasking and intelligent process. The creativity behind establishing a relationship between gameplay and user experience is like passing a thread to a needle’s hole. Knowing how each user will interact with the game and have a similar effect on other users, is definitely a fine art. This requires that a company will hire the best developers and game-mode designers.
Other challenges would include an uncontrolled niche of piracy agents who make it difficult for developers to make the profit from their products once it gets to the market.
If each problem were to be tackled circumspectly, a platform that simultaneously creates motivation and an incentive-based research system will encourage developers to further their work. Human desires are a variant and that comes with a price tag, one not all developers can afford.
This is where TRIFORCE comes in. They are proposing a platform that connects the different stakeholders of the gaming industry to create better gaming experiences at an optimal valuation.
Competition in the current blockchain market will include Game Machine, PLAYKEY, NITRO, JOYTOKEN among others who are tackling part of the problems in this industry, from decentralized cloud services to mining and safe investment in gaming facilities. So it would not be a joyride for them, as there are other related tokenized products out there.
FORCE tokens are the new game based cryptocurrencies which are created by the TriForce company. The basic functionality of the token is for it to act as a utility coin. Playing the role of peer-to-peer currency trading type within the platform. Other function of the token will include an algorithmic anti-piracy solution.
More so, the platform can reward its users through a reward mechanism with the token to create an interesting pool in their product.
Their aim is to create an ecosystem that generates value for the product to the developer especially those of the indie category and also be a means of revenue generation for gamers.
TriForce crowdsale analysis
They want to conduct a token generation to fund the development of the product. By creating smart contract tokens based on Ethereum ERC-223 token standard, they will have a total supply of FORCE tokens to be 2 million and a sale of 1 million of it is meant to generate a maximum of $61 million USD for the project. However, if the main sale is unable to raise the minimum bar of $500,000 equivalent of the Eth price during the period of sale, all funds will be refunded to the contributors.
The public pre-sale is to commence on the 20th of February 2018 and end on the 6th of March 2018 (i.e. for a period of 14 days). The second phase of the token sale event will commence on the 20th of March and last until the 10th of April 2018.
The project started in February 2017, and is progressing gradually towards its TGE event. They have a product, a prototype version integrated into mobile applications; which was created around mid-2017. It would seem that they intend developing their platform until they achieve maximum and optimal results by 2019.
Pete Mardell is the CEO and lead member of the project. He is an in-depth gamer who has once served as a Head of Development of UK recruitment platform and has recently been involved in the crypto-evolution. He is of the opinion that his company will make an interactive community where gamers can find expression and earn a means of livelihood.
More so, developers are not left on the sidelines according to him, they will be able to generate new revenue models from the big data through the analytically integrated program codes.
The team structure is quite impressive with diverse fields which could relate to the success of the project. Especially gaming and blockchain based specialties. They have an incredible advisory team that has previous consultation experience with other blockchain based economy.
As for their strength, the team seems to have it all intact, their diverse strength can become their cumulative advantage.
Although this is their first project together, individually some of them have had experiences with game SDK development within the conventional gaming industry, like Vadim Bulatov, who is their Game Adviser has headed roles for World of Tanks, World of Warships and World of Warplanes.
Others on the team have the advantages of public relation and marketing skills. Moreover, the team has their public profiles and social media contacts available on the website.
As expected from an organization trying to tokenize this industry and attract the stakeholders, their finishing design is impressive and the outlay of information on the website is finally done.
As for their whitepaper, they have done a great deal of editing and the expressions are impeccable.
The project has social media accounts, at least in the populous channels to include: Twitter, Facebook, telegram, bitcointalk, medium, GitHub, LinkedIn, and YouTube.
They will be accepting Ethereum during the crowdsale event. CoinPayment will be the escrow in charge of the funds. The development team will not have access to the funds until the set agreements in their fund released strategy are met. So I would say that the project is not just a hype and investments are somewhat safe.