Initial Coin Offerings (ICOs) continue to sprout up, especially in the gaming industry. The implication is that there is a strong demand for such offerings based on the plethora of them out there and continuing to be released.
In October, Inc.com contributor Melissa Thompson described one such offering -- Game Protocol -- as an upcoming and promising ICO for a "completely decentralized gaming ecosystem." The platform allows game developers to create and distribute video games on the blockchain, offering game creators a conduit to advertise and distribute their content and raising money to keep building their works.
Right now, there is only a pre-ICO sign up and no official countdown to the ICO launch. Instead, Game Protocol indicates that the pre-sale is coming soon with both the crowdsale start and end "to be announced."
When it actually launches, Game Protocol intends to be decentralized gaming economy that uses blockchain technology to become the one-stop-shop of gaming with a decentralized game store, a system for game developers to raise funds for their projects, a community that allows developers to easily contract with one another and tools to prevent against hacking.
The platform is clearly not intended for the largest video game developers. Instead, it is better suited for startups and medium-sized developers who may be able to better compete through a more level ecosystem.
"By creating a decentralized gaming store, indie developers have an equal opportunity in getting exposure to their games," states Game Protocol'sWhitepaper. "A decentralized gaming store offers true fairness for indie developers and lets the best games be displayed."
Much like many others in the space, Game Protocol will have its own native token called Game Protocol Token (GPT). Developers will be obligated to stake a certain number of tokens to even be given access to utilize the platform. Essentially, this serves as buy-in to create a strong commitment.
Will Game Protocol and others in the space generate significant interest to make it profitable for the entity as well as the developers? It is still very early in the process, but there appears to be potential based on what is perceived to be demand in the marketplace.