KamaGames embraces cryptocurrency
KamaGames embraces cryptocurrency
KamaGames has unveiled its entry into the world of blockchain and cryptocurrency by launching its own token, utilising existing technology and the Ethereum platform.
Designed to attract a new additional audience, in addition to rewarding its current player base of over 100 million, the social mobile poker operator details that its KamaGames Token (KGT) will be sold as a collection of in-game chips that can be exchanged for in-game virtual currency only.
Andrey Kuznetsov, Chief Executive Officer at KamaGames, spoke to TotallyGaming.com about how this idea came out, its inner workings and the benefits that will be felt as a results.
We were finding that more and more players were asking if they were able to buy chips with cryptocurrencies, and so we wanted to look into what the potential options were and how viable it would be.
As an operator we are constantly looking at new ways to improve our games and innovate in the social casino industry, in fact we were recently given the award for “Innovation in Social Casino” at this years EGR Marketing and Innovation Awards in London.
As well are always innovating, we also try to offer something new and exciting to our players, and the launch of the KamaGames Token (KGT) is a perfect example of this. It’s a fantastic opportunity to not only thank our players but to also show how KamaGames is passionate about embracing new technologies.
The overarching KGT strategy is that we are actually executing a marketing / promotional campaign to attract new players and to reward our existing ones. We are giving our players the opportunity to buy our in-game currency, virtual chips, at a more lucrative rate and to also receive additional bonus chips during the first 6 months.
We are not looking to raise funding, we are not looking for any form of investment, the KGT is simply a “proxy” to purchasing KamaGames’ virtual currency.
Someone can buy a KGT, which is a standard utility token (ERC-20) and exchange it for virtual chips via an official KamaGames player’s account.
Holders of a KGT who have a player account can link their tokens to their account, and receive daily bonus chips and any other discounts, bonuses or services that we may make available exclusively to token holders in the future. If they do not have a player account, they can create one easily via the Pokerist app.
The TOKEN to CHIP exchange rate is guaranteed to be increased by KamaGames at a rate of 25% each month during the first 36 months and at a linear interest rate.
- At purchase, each token will equal 7,000,000 chips
- In 6 months, 1 token’s guaranteed worth will equal – 17,500,000 (X2.5)
- In 12 months – 35,000,000 (X5)
- In 24 months – 56,000,000 (X8)
- In 36 months – 77,000,000 (X11)
As far as benefits are concerned, it the KGT sale will help KamaGames potentially reach a whole new audience through crypto/blockchain technology, as we will be speaking to untapped areas of players worldwide that may have not heard of KamaGames or Pokerist before.
With regards to existing players the proposition is simple, we give them the most lucrative way to buy our in game currency, and to also receive free chips awarded daily along with any other discounts, bonuses or services that we will make available exclusively to token holders in the future. As an operator we are also expecting the KGT sale to drive player retention too, as KGT holders will be visiting the app on a regular basis to collect their daily chip bonus.
We are the first to market with such a concept and opportunity for our players. We are ahead of the giants in the industry, Zynga Poker and World Series of Poker who have both yet to offer an opportunity to buy chips using crypto tokens, and neither of them offer the ability to buy in game currency using cryptocurrency such as bitcoin, ethereum and others.
KamaGames is proud to launch its token sale, a project that’s ambitious, innovative and - best of all - a great deal for both new and existing players.
Totally Gaming says: Predictions state that the social gaming scene, as well as that of social casino, is to continue to boom on a global scale, with $86bn spent by customers on mobile apps in 2017. By embracing this new technology, which is capturing the imagination of many circles, KamaGames is attempting to continue to stay ahead of the game, and develop its offering further still.