Virtual Reality Game Chainbreakers to Be Developed on Ethereum-based Decentraland

  • Decentraland's platform will be used to launch a virtual reality (VR) game called Chainbreakers.
  • Chainbreakers is based on a "fictional story" centered around the events that took place in Ancient Greece.

Decentraland, a virtual reality (VR) platform developed on the Ethereum blockchain, has announced the upcoming launch of Qwellcode’s new game, Chainbreakers. According to Decentraland’s official website, the blockchain-powered VR network allows users “to create, experience, and monetize content and applications.”

As described by Decentraland’s blog post, Chainbreakers is a “strategic role playing game” - which has been developed to capture a “fictional and stylized rendition of Ancient Greece.” The main theme, or story, of the VR game is based on the idea of “a corrupt, evil government” and those opposing its authoritarian regime.

Players of the VR game may choose to be part of “various opposing factions”, that “must join forces and cooperate” to defeat the elite, or “ruling class.” As the VR game’s plot unfolds, and players move from one stage to another, they “explore the entire map of Decentraland.”

Players Rewarded In Non-Fungible Tokens (NFTs)

One of the game's goals is to find “questing areas” - which have been "hosted on parcels and estates” located in “Genesis City.” Here, the game’s players “can free slaves” while also being able to “recruit [them] as soldiers in their armies.”

There are also parts where users “crawl dungeons in search of loot and powerful items” and then fight against the ruling class. According to Decentraland, Chainbreakers is kind of like traditional role playing games (RPGs), however, Qwellcode’s (blockchain-based software solutions provider) developers aim to add something unique by introducing “scarce in-game items.”

In the VR game, these items are “represented” by non-fungible tokens (NFTs) - which are crypto tokens that represent “something unique” and are “not interchangeable.” Users may receive NFT-based rewards after successfully completing in-game tasks.

Blockchain-Based Games Becoming Increasingly Popular

Decentraland’s post goes on to explain that the Chainbreakers gameplay consists of several “dividend periods” - which usually take several days to complete. Each questing area has its own dividend period.

Players have to “strategize” by creating their own unique “squads of units” to fight against enemy armies. With experience, players are able to advance to “higher level questing areas” - which allows users to earn “better loot, and higher rewards.”

Further details regarding Decentraland’s Chainbreakers are available on its official website. As CryptoGlobe covered, a new DApp game called Tronbet was launched recently on the Tron Network and it was reportedly played over 10,000 times on the first day of its release.  

Kraken Raises $13 Million from Over 2,000 Investors to Expand Business

San Francisco-based digital asset exchange Kraken has reportedly completed a $13.5 million investment round through an internet-based fundraising platform, called Bnk To The Future (BF).

Notably, Kraken’s latest crowdfunding campaign is the largest investment round BF has managed. The regulated crypto futures and spot trading platform received investments from 2,263 different investors.

Kraken Seeking $4 Billion Valuation After Fundraiser

According to Coindesk, the American exchange operator had been seeking additional capital in order to increase its present valuation (as a company) past the $4 billion mark. The funds raised will also be used to make new acquisitions and also directed towards financing other initiatives that are aimed at further expanding Kraken’s business operations.

Kraken’s management has already made a few key acquisitions including a $100 million acquisition of UK-based Crypto Facilities (in February 2019), an established futures and derivatives trading platform. The US-based exchange has also acquired CryptoWatch, a financial data and trading platform.

$85 Billion In Crypto Trades Settled In 2018

As one of the leading crypto exchanges, Kraken settled trades worth a total of $85 billion in 2018. The exchange’s trading volume reportedly came from over four million traders located in 200 different countries.

In order to help Kraken further expand its line of products and services, BF has established a “Special Purpose Vehicle” (SPV) - which will allow the exchange company to receive equity from over 2,200 investors. Referred to as illiquid investments, the equity-based transactions will be facilitated through the SPV in an indirect manner.

Bypassing Current Regulatory Requirements

Acting as a single investment manager, the SPV will accumulate funds contributed by all parties interested in holding a stake in Kraken. Notably, Kraken’s decision to raise capital in this manner will allow it to avoid having to register as a public company - which existing U.S. regulations require under the 1934 Securities and Exchange Act.

Although Kraken’s investors will not be shareholders, they will be entitled to a certain return on investment (ROI) if the US-based exchange offers its shares via an initial public offering (IPO). However, the shares must be acquired through a different organization and potentially also through Kraken itself if it decides to opt for a Management Buy-Out.

High-Risk, Speculative Investment

Commenting on the initiative, BF’s management cautioned:

This is a high risk high returns platform – please understand this before investing.

Meanwhile, Kraken added that investors would be able to reduce risk as they would be acquiring a preferred share class with the ability to liquidate their funds. However, the American exchange did acknowledge it was a speculative investment.

An email sent to the initiative’s investors suggests that staking funds in Kraken’s business would have the following advantages:

CryptoWatch Premium membership, the ability to leverage shares for margin collateral, priority service from our client support team, invitation to Kraken’s exclusive investor chat room, subscription to Kraken’s Daily Hash newsletter and OTC Daily report, bi-annual Kraken investor update, beta access to new Kraken products and features, limited edition Kraken swag, [and] 5% investment rebate in KFEE.

Will Only Make Money If Kraken Sells for Over $4 Billion

According to an analysis by BF, a $1,000 investment in the company’s project would be worth around 48 future shares from a total of 201,612,210. If Kraken gets valued at $4 billion, then the 48 shares purchased would give the holder only a 0.00002380808% stake.

BF’s analyst further noted:

And that’s about the sum that you invested. But as you are in the “preferred share class” you get your investment back even if Kraken sells only for $112 million. Only if Kraken sells for more than $4 billion we will make money.