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EON Protocol (EOT) ICO Review

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EON Protocol is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameEON Protocol
Token SymbolEOT
WhitepaperView Whitepaper
Website LinkHome
Price1 EOT = 0.0000476 ETH
PlatformEthereum
Soft Cap10,000 ETH
Hard Cap30,000 ETH

More about EON Protocol (EOT) ICO:

Founded in Singapore, with offices in Palo Alto, Beijing. EOT foundation is dedicated to empower developers to create more games to our users. Our mission is to bring cryptocurrency to more people through dgames, as game is the best way to educate people about new technologies.

EOT (EON Protocol) is the protocol for DGames. It helps game developers to build blockchain games easily and quickly. EON Protocol uses a layer 2 solution to help DGames run smoothly as if on traditional web hosting. It also helps DGames to support different public chains, cryptocurrencies and digital assets.

Highlights:

1. Track record in blockchain tech: has launched a successful crypto game called CryptoAlpaca, which has 200k+ registered users, 50k+ ETH holders. Those users are from 100+ countries.

2. Top-tier Team: team members are from famous tech companies (Facebook, OculusVR, etc) and game companies (NetEase, Zynga, etc).

3. Advisors: they have rich experiences in blockchain and gaming, including the founding director of USC Game department (No.1 Game department around the world), early investor of Ripple/Coinbase.

4. Partnerships: USCGames, Quarkchain, U Network, Merculet.

The global games market (software) revenues reaches 116B in 2017, which is even bigger than global sports business. By 2017, there are 2.2 billion active gamers in the world, of which 47%, or 1.0 billion gamers, spend money while playing. Besides, almost every game has its own in-game currency, which supports in-game payment of digital assets and other services. Gaming is not only a fast-growing industry with huge market size, but also the one actively embraces new technologies. From PC, smartphone to Virtual Reality headset, gaming is usually the first application to take off and effectively educate the mass market. Hence, we see gaming as the best user case for blockchain technology and games are easily to be integrated with cryptocurrencies. If 10% of gamers use cryptocurrency as payment in the game, there will be 220m new cryptocurrency holders. This will efficiently educate people about what is cryptocurrency and blockchain technology, as well as expanding the market size of the whole blockchain industry. In order to accelerate this process, we initiated EON Foundation to build and promote EON Protocol (EOT). EON Protocol is a protocol for dgames (decentralized games, or blockchain games). It uses a layer 2 solution to help dgames run smoothly as if on traditional web hosting. It also provides in-game wallet feature for game developers to support multiple cryptocurrency payment and the exchange of digital assets (non fungible tokens). The concept of EON Protocol was developed during the process we built CryptoAlpaca, a dgame based on Ethereum, with more than 200k registrations. By building a dgame by ourselves, we found the pain point of dgame development. We want to help game developers build dgames easily and fast, and our mission is to bring cryptocurrency to more people through games.

Introduction

Game Industry Overview

In 2017, the global games market (software) revenues reaches 116B, which is more than three times the $38.6 billion in movie ticket sales. As gaming continues its convergence with traditional media and entertainment, new comparisons can be made. An increasingly striking comparison is one to the global sports business. If we add revenues from console gaming hardware (around $10 billion this year) and PC gaming systems and peripherals (around $23 billion in total), gaming is already a bigger global business than sports.Gaming is not only a fast-growing industry with huge market size, but also the one actively embraces new technologies. From PC, smartphone to Virtual Reality headset, gaming is usually the first application to take off and effectively educate the mass market. The phenomenal success of CryptoKitties[2] have proved that gaming is the best way to educate the mass market about blockchain concepts.

DGame Overview

History of DGame

While CryptoKitties is the first game most people played on blockchain, it is not the first dgame (decentralized game, or blockchain game) ever created. The history of dgame can be dated back to 2014 February, when Huntercoin[3] is released. It claims to be a live experimental test to see how blockchain technology could handle full on game worlds. In the game, you compete with other players to mine Huntercoin. After Ethereum was released in July 2015, it became easier to build a decentralized app on blockchain, and more dgames were created. CryptoPunks[4] is one of those pioneers. There’re 10000 unique collectible characters generated algorithmically in the game, and people can collect and trade those characters. CryptoPunks is a great demonstration of value exchange powered by blockchain technologies. The 3 features of blockchain: free, trustworthy and globally accessible, greatly increase the efficiency of digital assets trading among game players. And when the asset is a digital cute cat, the world goes crazy. On the peak, the transactions of CryptoKitties take up more than 20% of all transactions on Ethereum, and the highest price for a cat is $114,481.59.

DGame 2.0

Although gaming is leading the innovation of blockchain, those early dgames’ gameplay are not well designed. Most of those games were built by blockchain engineers, not game designers. Hence, we call them dgame 1.0[5]. The feature of 1.0 dgame is: A) game assets are built on blockchain(e.g., Ethereum); B) gameplay is simple and weak. A game of weak gameplay cannot attract people to play it for a long time. In order to further push the boundaries of dgames, we created CryptoAlpaca[6], a 2.0 dgame. During the process of developing CryptoAlpaca, we always put gameplay as our highest priority. No matter it is PC game, mobile game, or dgame, gameplay is the key to the success of a game. We created a rather complex gameplay that can retain players for a long time. The game was successfully launched in February 2018 and proved to be a success. It has more than 200k registrations 3 months after the launch, and 50k paid users (in ETH). In a word, 2.0 dgames start to focus more on the gameplay, rather than showing off blockchain technologies.What’s more, we find that 40% of CryptoAlpaca players don’t hold cryptocurrencies before. This means that they purchase cryptocurrency in order to play dgames. We can see that good dgames effectively attract people to hold cryptocurrencies.

Difference Between Traditional Games and DGames

After building a dgame by ourselves and talking with other dgame developers. We start to find the answer to a crucial question: what’s the difference between traditional games and dgames. Only by knowing the differences, we can build better dgames. Our answers are as follows: 1) traditional games’ in-game currency can not be used outside the game, while for dgame, gamers can exchange the currency of different games. This is a huge challenge for traditional game designers, because they’ve never done this before. 2) most of traditional games’ in-game assets cannot be traded inside or outside the game, while for dgame, developers can create digital assets as non fungible tokens, which can be traded inside or outside games; 3) parts of games’ logic can be written using smart contract (public and audit-able), which means game developers cannot make money by tricking players anymore; 4) the governance of games may change, traditional games’ lifecycle is controlled by a centralized game developer, while for games, the future of a game is governed by the game community (e.g., Huntercoin continues running even after the developer behind it is dead). We see 1&2 as the first crucial steps for dgame to take off. And after the penetration rate of dgame reaches 10% (10% of gamers around the world uses cryptocurrencies in games as payment), games with 3&4 features will become more and more. The core of a good game remains the same:

providing a great game experience, yet the economy system, business model and governance of a game will change dramatically. It will be even bigger than the change from pay-to-download model to free-to-pay model.

Problems to Solve

As we mentioned above, there are 4 major differences between traditional games and dgames. This means that game developers have to learn lot of new things in order to integrate their games with blockchain. That’s why we have the original concept of EON Protocol. We want to lower the barrier of developing dgames by providing blockchain toolsets to game developers. Those toolsets will be integrated into the existing game building pipeline. Hence, game developers don’t have to learn new programming languages (e.g., Solidity of Ethereum) that are usually not used in game industry. They can focus on the design of the game, while integrate their games with blockchain easily and quickly. By accelerating the process of building more good dgames, we’re attracting more people to hold cryptocurrencies. This we believe will contribute a lot to the whole cryptocurrency world. The first version of EON Protocol will generally solve the following 3 problems in developing dgames. And in the future, we’ll add more features to EON Protocol.

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