CRYCASH (CRC) Review – ICO Token News
CRYCASH offers an independent decentralized ecosystem that satisfies the needs of gamers and game developers by providing custom-tailored services. The ecosystem utilizes its own utility token known as CRC. It is comprised of Pink application, Advertising platform, Marketplace, and CyberSport Platform. They are working to create massive added value and a win-win situation for both gamers and developers.
What is CRYCASH?
CRYCASH is the first cryptocurrency designed to satisfy the needs of gamers and game developers with an ecosystem which offers customer-tailored services. The CRYCASH legal entity will issue the ERC-20 digital token, CRC tokens. These tokens are used within the CRYCASH ecosystem as a payment method. Game developers can utilize CRC tokens for promoting their products and getting the attention of gamers so that they can earn through their gaming.
The company aims to become a preferred global platform for skill-based eSports competitors and to play a vital part in developing the future of blockchain-based projects. Right now, it is focused on the gaming industry and looking forward to including all the competitive eSports games in its gambit. In addition, they have plans to work with game developers, developing symbiotic relationships in order to enhance the gaming experience of all users. With this, the company will encourage the level of participation on both parties’ platforms and bring CRC tokens and decentralized applications close to the mainstream.
CRYCASH gaming solution
The ecosystem is comprised of four components which are discussed below:
Plink Application: Plink application has advanced functionalities and features and CRYSCASH is using it to develop technology for rewarding players. Plink allows users to track their progress in different games and also receive updates on the activities of their friends who are playing, at any given moment of time. This technology also allows for the transfer of CRC tokens to users which will be delivered to the CRYCASH wallet in Plink. The CRYCASH legal entity has exclusive partnership with Plink and helps in promoting this application among gamers.
Advertising Platform: It is a win-win marketing tool designed for game developers to give direct access to players. The advertising platform uses Plink and CRYCASH CyberSport platform to engage with new users. It will allow for the setting of game tasks with a focus on choosing the right players based on their age, skill level, interest, and other parameters. Players will select their objective in the Plink application and receive CRC rewards after the successful completion of the game.
Marketplace: CRYENGINE’s marketplace was introduced in 2016 and allowed the developers access to Crytek’s own assets library and community contributor materials, 3D objects, and sounds used for developing their games. Right now, CRYCASH is available as a payment method in this marketplace. Moreover, game developers who are selling their products in this marketplace can also receive payment in the form of CRC tokens or utilize them to reward gamers for completing their tasks.
CyberSport Platform: It allows you to team up with other players on the platform to create your own tournaments, make bets on e-sports events or participate in third-party battles and win CRC. CyberSport is a decentralized platform on Ethereum. This blockchain was chosen due to its high functionality feature which can be achieved by using its smart contracts.
The gaming industry is internationally famous for its diverse nature. There are millions of gamers and a large number of developers who interact in this industry. But, this interaction is not sufficient due to the use of outdated marketing approaches and a traditional financial system. This raises the problem of the lack of an efficient tool for players to monetize their game time, communicate, and collaborate. This is the reason game developers are challenged by expensive fees in the marketplace and higher cost of gaining users.
CRYCASH is a decentralized gaming ecosystem which is designed to resolve such problems by providing revolutionary custom- tailored products and services for developers and players. CRYCASH aims to change the way in which the gaming industry is operating by using the programmable logic of smart contracts, blockchain enabled high-speed transactions, and the immutability of the blockchain ledger. These features are the prime elements of the CRYCASH platform and they exist in every product and service delivered by it. But, in order to create these features, a token is required. The CRC tokens works as a utility token for the ecosystem and are specially designed to incentivize the users to interact with the ecosystem and generate profits.
What problems are resolved by CRYCASH?
Crycash has proven beneficial in resolving various problems for gamers and game developers which are discussed below:
For the Gamers
In today’s scenario, gamers face various inconveniences and problems while playing games. The users spend a lot of time in gaming looking for valuable in-game assets that are worth something in the market and they still face problems while making in-game transactions. Moreover, there is a high entry obstacle for the new players who want to earn money by participating in the e-sport tournaments. The CRYCASH ecosystem successfully resolves the various problems faced by gamers by providing the following features:
- Earn CRC tokens after completing the task set by the game developer and adviser at Plink.
- Send payments via the CRC token within Crytek products.
- Pay for products and services in the CRYENGINE marketplace.
- Pay for games, trade with hard-to-get, in-game items, and rare and collective items.
- Pay with the ecosystem or cash-out to fiat money.
- Users can bet for e-sports events and win CRC tokens on the Cybersport betting platform.
- Create a team with other players of the Cybersport platform and create your own game tournaments or take part in third-party challenges.
- CRC token with blockchain technology to enhance the security feature of each transaction.
For Game Developers
Every year, game developers spend lot of money on customer acquisition. However, this money is wasted due to the inefficient tools of advertising available in the market. The CRYCASH ecosystem helps gamers by providing a wide range of tools that are successful in boosting their profits and promoting their online products. The ecosystem provides various benefits to game developers that include:
- Getting more users rapidly and cost efficiently.
- Allow access to a new, secure, and efficient way of receiving payments from gamers.
- Highly beneficial for reducing customer acquisition costs.
- Increase customer lifetime.
- Enhance new user’s engagement.
- Increase the return on every user due to in-game purchases.
Benefits for token holders
Token holders can reap various benefits such as:
- Safe and easy way to generate income through gaming and game development.
- Pay for items, services and in-game assets.
- Utilize CRYCASH SDK to integrate CRYCASH with your products and easily reach millions of players.
- It a viable cryptocurrency due to its buyback program.
What is the CRYCASH Buyback Strategy?
In order to secure the stability and stimulate continuous market demand for CRC tokens, the CRYCASH ecosystem will use a Buyback Program which is specially designed to provide benefits for all token holders. According to the strategy, CRYCASH ecosystem will purchase its own tokens from the secondary market to reward the players who successfully accomplished the game tasks selected via Plink applications, winners of bets, and CyberSport platform tournaments.
That’s why 30% of funds raised during the token sale will be reserved for the dedicated fund so that it can be utilized in the future for buyback. In future, up to 80% of the profit will be spent by CRYCASH for buying CRC tokens at an exchange in order to reward the users. In this way, they will ensure that CRC will flow seamlessly within the ecosystem and provide for its ultimate vitality.
Allocation of CRC tokens
The hidden hard cap will be revealed if 70% of the cap is reached. Once the crowd sale is completed these will be issued. You can purchase the CRC tokens with BTC, ETH, BCH, DASH, and LTC. The collected funds will be received and held in multi-signature wallets.
Distribution of tokens
- Long-term reserve : 15%
- Advisors & Partnership : 10%
- Token Sale : 60%
- Team : 15%
Founders and team contributors will be subject to a two-year vesting schedule.
1 – Tokens for teams are locked for first six months and will be vested over the period of 24 months. Team members will receive 25% of their tokens after six months and after that, 12.5% every three months. The list may be updated during the 24-month vesting period.
2 – The tokens for advisors are locked for two months and fully distributed.
CRYCASH token sale details
- Symbol : CRC
- Token sale date : December 14th 19:00 UTC
- Token sale end : January 31st 18:59 18:59 UTC
- Hidden hard cap : It will be revealed if 70% of the cap is reached
- Currencies accepted : ETH, LTC, BTC, BCH and DASH
- Token standard : ERC-20
- Token features : Utility Token
- Token exchange rate : 0.001 ETH per 1 CRC (i.e. 1000 CRC per 1 ETH)
- Planned listing on exchanges : 15- 28 February 2018
Bonus for all
- During the first 120 hours: +15%
- December 19th: 14%
- December 20th: 13%
- December 21st, 2017 – January 5th, 2018: 12%
Starting January 6th, 2018 the bonus amount will decrease 1% every 24 hours until 18:59 UTC on January 31, 2018
Bonus for big investors
- +20% for 200 ETH + transactions (throughout token sale)
CRC is a utility token that works as a payment method with the CRYCASH ecosystem. Any exchange, sale, purchase, or transactions done on the platform will require CRC tokens. It will be utilized throughout the CRYCASH ecosystem and in future, it won’t be limited by the ecosystem. The number of tokens will be limited. At end of the ICO token sale, no further tokens will ever be issued.
The received funds will be disbursed by the CRYCASH legal entity in the below manner:
- 30% will be reserved for a buyback program.
- 20% will be blocked for marketing purpose and business development in order to popularize the token among gamers and game developers.
- 30% will be allocated for the development of integrating decentralized technology into the virtual marketplace, decentralized tournament environment, and decentralized gamer vs gamer match wagering.
- 10% will be reserved for administration/operational expenses.
- 10% will be for contingency.
Team behind CRYCASH
Wachtang Budagaschwili (CEO)
He has been a consultant in the mobile and gaming industry and has worked with leading developers and publishers on monetization and user acquisition. Before becoming associated with CRYCASH, he was Director of Business Development EMEA at Visa’s Berlin office where he was working with the retail app and game developers, merchants, and data companies on strategic partnerships. Wachtang is a passionate leader, author, speaker, and networker who is renowned for his versatility, creativity, and problem-solving skills.
Daniel Tamas (CTO)
Daniel is a blockchain evangelist who has continuously provided his services for shaping the gaming industry over the last 10 years. He created one of Europe’s largest casual game studios which highlighted Daniel’s capabilities to devise gaming marketing, monetization analysis, and optimization strategies. This all is tied in with the smart use of technology, third-party APIs, and services. Now, Daniel provides his support for a new publishing paradigm where publishers can focus on the best, and the use of blockchain to eliminate the middlemen for advertising.
Sandro Kvlividze (CPO)
Sandro has been engaged in the gaming industry for many years. He is an enthusiastic developer as well as a crypto enthusiast. Apart from his role as a game designer for a big studio, he also co-founded the game venture and has done programming, production, and audio design. He received his postgraduate certificate from the elite Denius-Sams Gaming Academy.
- Michael Levin (CMO)
- Sally Shen (CBDO)
- Evgeniy Evgrafov (Lead Developer)
- Michael Khaimzon (Warface Creative Director)
- Faruk Yerli (Crytek Co-Founder and Managing Director)
In short, we can say that CRYCASH is a decentralized ecosystem developed with the aim of providing custom-tailored products and services for games in order to monetize their game and engage more players into their products in a cost-effective manner. CRC is the utility token used by the ecosystem.