Coinbase-backed Startup Launches Blockchain’s First eSport
SYDNEY--(BUSINESS WIRE)--Jul 9, 2018--Fuel Games has announced the pre-sale launch of their online game Gods Unchained, the world’s first blockchain-based eSport. The multiplayer strategy game showcases how blockchain technology can be used to offer gamers absolute, trust-free ownership of the items they purchase or earn in games.
‘Gamers spend tens of billions of dollars and countless hours each year acquiring in-game items. But game studios barely offer their users a licensing agreement for these items, let alone actual ownership - they’re a central bank with no oversight,’ said CEO James Ferguson, 26, who founded Fuel Games with his 21-year-old brother Robbie. The young duo were motivated by their own experiences in gaming, understanding the shortcomings that come with game developers having centralized control over in-game economies. ‘Offering players true ownership of in-game items, and the ability to trade those items freely on secondary markets, means gamers can finally be rewarded for their efforts and spending’, added Robbie. ‘As the games industry switches to asset-driven revenue models, players have a more urgent need than ever for guarantees about the value and tradability of those assets.’
The launch of Gods Unchained follows Fuel Games’ $2.4 million seed round, which was led by investors Continue Capital and Nirvana Capital, and soon followed by Sora Ventures and Coinbase. The funding is being used to create games and build their software platform, Apollo, which will allow game studios to integrate their titles with blockchain technology at scale.
In creating Gods Unchained, Fuel Games aims to demonstrate that decentralizing in-game economies is an evolution in gaming, and they want to provide consumers with an experience that sets new expectations for game publishers.
‘For blockchain-based games to be successfully adopted by the mainstream market, there needs to be a seamless user experience. Gods Unchained aims to offer all the benefits of decentralization while eliminating the friction traditionally encountered when using cryptocurrencies’ said Robbie, Fuel Games COO.
In February this year, Fuel Games released Etherbots, the company’s first game utilising the Ethereum blockchain, which offered players ownership of digital robots that could be used to battle other players. Within two weeks of the game launching, Fuel Games had sold over $1M of in-game items, with individual items won in-game later trading for prices up to $18,000 USD.
Although gaming will benefit from blockchain technology, the brothers feel that the blockchain industry itself stands to gain just as much. ‘Decentralized games will allow people to familiarize themselves with blockchain technology in a fun and user-friendly environment’ added Robbie. ‘I won’t be surprised if gaming ends up being blockchain’s first killer application outside the financial space. Gamers have always been early adopters, and this time will be no different.’
Gods Unchained Website: http://godsunchained.com/
View source version on businesswire.com:https://www.businesswire.com/news/home/20180709005333/en/
CONTACT: Burson Cohn&Wolfe, on behalf of Fuel Games
Will Cullen, +61-451-799-750
KEYWORD: AUSTRALIA AUSTRALIA/OCEANIA
INDUSTRY KEYWORD: ENTERTAINMENT ELECTRONIC GAMES OTHER SPORTS TECHNOLOGY ONLINE RETAIL SOFTWARE PROFESSIONAL SERVICES FINANCE RETAIL MOBILE ENTERTAINMENT ONLINE SPORTS
SOURCE: Fuel Games
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PUB: 07/09/2018 09:00 AM/DISC: 07/09/2018 09:02 AM