Our goal is to combine cryptocurrency and gaming industry – interview with the FLUX team
Gaming market capitalization reached $99.9 billion by the beginning of 2017 and continues growing. According to experts, it will be $118.6 billion by 2019, and there is more to come. It is a huge entertainment industry, which covers millions of people around the world.
At the same time, the game community is very separated and scattered among a variety of different services, communities and information resources. The FLUX team offers problem solution: the platform of the same name that unites all members in the gaming industry, from developers to players, into one ecosystem. The platform is blockchain-based, and the interaction between participants is regulated by multiple smart contracts.
The platform developers spoke on blockchain projects in the modern gaming industry, main problems and how FLUX is going to solve them.
– Good day, following your concept, FLUX platform should unite different parts of gaming industry and its audience in one ecosystem. How is this possible, and is it actually possible?
Good day, gaming industry now waits for dedicated solutions to make it profitable for gamers and community, or to grow developer's profit. We are building the platform, which will give legal and transparent way to monetize competitive games and tournaments for players and developers. The latter will earn every time when someone plays competitively in their game or buy and sell gaming items.
Specially for developers, there is a Market where they could upload their game with best conditions (I mean low and loyal purchase and transaction commission for in-game store and goods).
We will also launch a solution for streamers, where they could broadcast FLUX tournaments and games, attracting additional audience and earning rewards from FLUX.
Besides, we are giving an opportunity to raise funds for development for young development teams inside the platform. All these features are united using multiple smart contract systems, while all data is stored in blockchain. In this way, we are properly uniting all gaming directions in a platform, which is absolutely transparent, fair, and could be audited by anyone.
– FLUX platform allows betting on competitive matches. Such activities can be regarded as gambling. Given the international nature of your decision, will there be no legal problems within different jurisdictions? Have you worked out this issue?
First of all, there are no bets in FLUX. Unfortunately, it is a misunderstanding – it is hard to replace a word “bet”. FLUX gives a possibility to be engaged in paid matchmaking. It means you can't make a bet on someone's match, you could make a bet only on your own victory. In this way, it is not a betting platform. It is more like your own small tournament with a prize pool.
Also, we would like to admit, that matchmaking system won't support games where the gameplay relies on randomization. All competitions should be skill-based only. As for popular games like Dota2, where it seems to be a random element in gameplay – it is wide-known mistake. In this games there is a «pseudo – random», which is a certain math algorithm. In this way, while FLUX doesn't rely on a random system, which is the main term of gambling, it is not a gambling at all.
– Why did you choose ICO as a fundraising tool for your project? Why didn’t you fix upon venture capital financing?
First of all, we have paid an attention on this tool as it is quite popular right now, and became a good opportunity to raise big amount of funds, which is what we need in FLUX.
We are sure in natural and organic growth of token, which should attract investors.
Besides, successful ICO is a good marketing move for further platform development.
Our goal is to unite these two industries (crypto and gaming) and let everyone earn.
– There are a lot of ICOs related to gaming industry right now. Why do you think your platform will be needed?
We are glad that the gaming industry looks so attractive. We are always tracking new projects, and if some of them looks like a good one, really working and possible to develop, we always try to make a contact with project representatives to establish cooperation.
But, unfortunately, the amount of good projects in this area is extremely low. Most of ICO projects in gaming claim to become a solution for a specific problem in the industry, or just looks good for an investor, who is not keen on gaming industry. Meanwhile, the industry itself simply doesn't need this solution.
We believe that one of the main gaming industry problems is diversification. We mean that users always have plenty of connected platform to satisfy their needs, and they are always switching between them, and some parts of these platforms are even almost copying each other.
So what did these ICOs have achieved for 2 years?
They gave a lot more platforms to users, but now they are blockchain based.Our team stays against such «solutions».
We are not going to focus our customers on blockchain solutions – most of them are absolutely not interested in technology of the platform. We just make a proper, correct and organic implementation of blockchain in our platform, and now we can guarantee transparency and fairness of the platform, and give our users an opportunity to gain additional profit while our token is growing.
– Why did you decide to run your blockchain-based platform? What are the benefits of blockchain for such platforms?
One more problem of the gaming industry is that there is no trust between participants: between competitors or traders, platforms and users. Blockchain gives an opportunity for everyone to make his own audit of any transaction. Smart contracts are the guarantee of correct and proper transactions and operations.
In our concept, a user who makes big investments in gaming projects (investor), becomes 100% a part of our platform. In this case, FLUX gives him SaaS – a node-server, which will be a verifier of gaming results and sessions. Investor will gain profit for verification as well.
– How do you plan to develop the platform?
We are already developing it. We plan to develop every part of a platform step-by-step, attracting players, developers, traders, streamers.
Besides, we are planning to launch big tournaments with huge prize pools, and we are already working on approaching new partnership with game vendors. There are plenty of ideas, and we are always updating our strategy. We have worked out a logical and smart way to widen functionality of our platform step by step. We won't overload our users with dozens of functions simultaneously.
For example, soon we will release our MVP, which is now actually tested by a group of active players, and everyone will have an opportunity to participate in interesting and profitable event, but let the details be a surprise.
– What did you like most about Blockchain & Bitcoin Conference Stockholm and Kyiv?
We were excited and satisfied with organization level of both events, good list of respected speakers, and productive networking during the conferences and afterparty.
Such events are a good opportunity to establish new contacts for your project, and learn something new.