Blockstream’s Samson Mow To Launch Space Alien Gaming Token on Bitcoin

by | May 27, 2019 | Bitcoin, Blockchain, Cryptocurrency, Cryptocurrency News

Blockstream | Pixelmatic |Infinite Fleet | Bitcoin | Tokens

Samson Mow, the CSO of bitcoin startup Blockstream and the founder and CEO of the gaming company Pixelmatic since 2011, has plans to incorporate Blockstream’s new token platform on his gaming company, to launch security tokens on bitcoin via its sidechain Liquid.

Pixelmatic will use Blockstream’s new token platform to issue tokenized securities for its upcoming game Infinite Fleet. Fleet will be a science fiction, humans-versus aliens space fighting game. As per the game’s Twitter profile:

However, one of the unusual parts of the plan is that it will be launched either on bitcoin blockchain or, at least, a network that is tied to the bitcoin network.

Notably, Mow has been an ardent critic of the hype that surrounds crypto token sales and a part of his critical attitude was that so many of them have been launched on the smart-contract platform ethereum. He went on to state that ethereum has “failed” investors because of its scalability problems.

Though it seems that his apprehension comes from pervasive fraud in the space. Mow told CoinDesk, “My main criticism is there’s no substance. The leaders of many ICOs have no intention of actually creating something.

Mow asserts that Infinite Fleet offers substance, “That’s why we’re doing a security token, not a token with no obligation.” He added that they’re trying to pioneer a new token model called a “dual-token model,” that effectively uses two tokens for two different purposes.

As per him, in order to raise funds, they are selling a so-called “security token,” i.e. a breed of crypto-token that has been gaining traction as they’re subject to regulation and require investors get a return on their investment.

So far, the security token sale is private along with only a few “bitcoin OGs”. Infinite Fleet aims to raise $16 million with the token, by the end of the year, which is when they expect more exchanges to be processing security tokens. The utility token INF will be disbursed randomly to players in the game.

Users will receive coins based on “proof-of-participation,” or how much time they put into the game and whether they participate in “major” game events.

Gaming and Currencies 

The incorporation of virtual currencies in the gaming ecosystem is not new, but as per Mow, Pixelmatic is planning to add a unique spin on the idea given its characteristics.

For instance, the World of Warcraft, one of the most popular MMOs utilizes in-game gold as a means of payment for items and between players. Though persistent issues with so-called “gold farmers”, wherein they sell their funds to other players, making game maker Blizzard to effectively peg the value of gold to a “WoW Token”, to be bought and exchanged for either gold or 30 days of play-time.

Another example is  EVE Online, a sci-fi focused game that utilizes several different currencies across its galactic economy. At times, the economics of the game gets complicated and have real-world ramifications. Once EVE went to the length of hiring an economist, so as to steer the economy away from recessions and its negative impact on a user’s gaming experience.

Amidst this backdrop of troubles, Mow told the publishing that he originally got interested in bitcoin specifically because he saw a path for disruption of these gaming economies. Mow envisions a similar model with Infinite Fleet, giving it the same benefits with a cryptocurrency thrown in.

He added that “Our token will be like that but not under our control,” rather, the players own and control their own tokens. Mow went on to highlight one use case that addresses an issue experienced by players in MMOs where players can pool resources, only to suffer when one bad actor walks away with the loot unseen.

As per Mow, “People have been known to infiltrate guilds and steal the funds.” He argues that  Liquid, guild members can build a more secure guild model governed by certain rules, like “multi-signature” bitcoin transactions, that require five of 10 guild members to sign the coins with their private keys before they can be released.

Read more: Swisscom, A Major Swiss Telecoms Firm Plans To Distribute Tokenized Artwork

Image source – Infinite Fleet Twitter

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