Project PAI, Softbank has made its second move, following its previous investment in a blockchain game public chain project.
Softbank has recently announced its’ partnership with Ludos. Prior to this merger, top-tier crypto-investment firms including DU Capital, BA Capital and Collinstar Capital have participated in the Angel round. With Softbank, Ludos’ investment partners have now grown stronger and this serves as a recognition for Ludos’ leading position in terms of public gaming chain development. Ludos aims to bring in players who can transform the gaming experience and provide game developers with an integrated game development environment. Furthermore, this also presents investors the chance to invest in an optimised gaming experience.
While most blockchain technology companies aim to integrate their digital currency into the business world, few have achieved it successfully. With Ludos, consumers in Japan will be able to make hassle free purchases with its digital currency, LUD coin. This was made possible in a tie-up with FullPay, a company that engages in the sourcing and provision of electronic fund transfer at point of sale (EFT-POS) terminals and peripheral devices which support WeChat Pay. Ludos has also partnered with JMode an analytics platform specialized in the fashion industry to help maximise returns using AI. With over 20 million users, it also aims to integrate the LUD coin into their system to enable purchases.
With the development of blockchains, companies are not only looking into fundamental technology, but its’ application as well. The Ludos team has mainly focused on blockchain games and it plans to develop a game ecosystem based on cross-chain and multi-sidechains technology. This seeks to tackle the pressing issues that arise in the current game industry.
Overcoming pressing issues head-on
The game industry is a fast growing industry. According to Digi-Capital, the revenue for global game software and hardware has increased by 50 per cent yearly. Furthermore, the industry’s growth is expected to hit USD 300 billion by 2021. However, this industry has faced a lot of issues that need to be tackled properly. These issues include the following and more: 1. The centralization of the industry has forced the players to passively accept the changes that game companies have caused; 2. The value of the virtual game assets cannot be properly protected and cross-game assets exchange is not readily available and this has led to the wastage of players’ money; 3. Each game is isolated and all the data and identity information are not freely communicated; 4. The traditional way of crowd-funding is inefficient and the use of funds are not transparent. The Ludos team is working on a blockchain-based gaming platform to address these issues.
Revolutionary technology backed by an efficient team
Ludos co-founder Joe Meng is an experienced game producer with extensive blockchain research and development experiences. As a core developer, Joe has been involved in the production of the LoveLive, a phenomenal game that has created a huge hype in Japan and Asia . Co-founder Phoenix Zhou, was the head of the Blockchain and Digital Assets Research Institute of IReseach, a professional Chinese internet consulting company. He has extensive experience and resources in blockchain industry. Co-founder Evan Zhang earned a master’s degree in Finance from Boston University and a bachelor’s degree in Economics, Applied Mathematics, and Finance from the University of Wisconsin-Madison. He was an analyst at Citibank and a senior analyst at a private equity fund called SFA.
To address the problem of low speed, poor performance and weak applications of the current blockchain technology, Ludos has come up with a multi-sidechains solution. Using this system, future games on Ludos platform will each has its own sidechain derived from the main chain. All the data-processing in the game will be done on the side chain through the State Channel. This allows the final results to be recorded on the main chain, which will greatly increase the processing speed of the whole system and ecosystem.
In terms of consensus mechanism, Ludos will adopt a PoW+PoS mechanism to reduce energy consumption and increase speed in the early stages. In the future, Ludos will fully adopt PsS to greatly enhance the performance.
New Integrated Game hub
Ludos plans to build a large ecosystem for the entire game industry. Gamers will have their own accounts on the Ludos platform and be able to use this account to participate in all games. Furthermore they will also be able to form a huge community in the process. Achievements across different games will be recorded under the players accounts and be used to redeem prizes and rewards.
Ludos will create platform wallets, digital asset exchanges, DAICO protocols etc. to serve the players and developers. Among the platform functions, the digital assets exchange will make full use of the cross-chain value-exchange technology to realize the asset exchange between different games. In this exchange, players will buy and sell their game assets freely. In this way, when the player does not want to continue to play a game, the previous input will not be wasted, rather it can be used to exchange for assets in a new game. At the same time, the rare equipment that players collected in the game, will also have real values and rooms for appreciation as they can now be traded in the exchange.
Ludos will develop API and designer tools to enable game developers to integrate their games on the platform. At the same time, the Ludos platform also allows game development teams to launch their own DAICO to raise funds. Compared to traditional ICO, DAICO allows investors to monitor the progress of the projects. Funds raised will be released only when short-term goals are achieved. DAICO is adopted to protect investors as well as to ensure the projects run smoothly. The token issued in DAICO by the game development teams can be purchased using LUD Coin which is issued by Ludos. Apart from fund raising, the community on Ludos can also provide instantaneous feedback to game developers and this will help the developers to learn about the players’ needs and demands as well as their comments on the games. At the same time, the platform will also include game publishers and promoters, so as to provide a turnkey solution for the game industry.
To top of that, game artists and content creator will also be an important component of the ecosystem. Artists can freely create things like posters, avatars, stories etc., and sell those through smart contracts. Game development teams can then use LUD Coin to buy the artworks. Content creators include game commentators and game news reporter etc, will serve the whole community by creating relevant information and be rewarded with tokens.
Unique Token Design
Ludos has a dual-token design – LUD Coin and DLV. LUD Coin will be the main currency on the platform, and this can be used to participate in DAICO and pay for the products and services purchased. LUD Coin also represent the voting rights. For instance, when the platform wants to make changes to the current regulations, it will call for the community to vote. DLV token represents the credit level and influences that users have and it cannot be freely traded on the secondary market. Users will enjoy more privileges if they have more DLV.
Currently, Ludos is still in the funding stage and its’ main net is planned to go live by the end of the year. Since the investment from Softbank, Project PAI has performed impressively. With a strong team, supported by high-profile investors, focusing on industry issues coupled with practical solutions, Ludos and the game ecosystem it is building, will revolutionize the whole industry in the near future!
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