What is Nitro
Nitro is a project backed by the prominent mobile entertainment group in southeast Asia, iCandy interactive limited (‘iCandy Interactive”). ICandy has shareholders like Baidu (USD60Billion market-cap chinese internet company), IncubateFund (early stage Japanese VC backed by Tencent) and others.
The company would be foraying into the sector to be able to make an impact in the video game economy. They seek to “democratise the video game economy by making it easy for anyone to participate in and benefit from the economy of the video-game- industry, while bringing together all the stakeholders of the industry onto an integrated platform and community.”
What’s Nitro up to?
The sector that Nitro is venturing into is an USD $100 billion/year economy, it is a sector that has a significant concentration of large corporations who control the releases of the various games in the market. According to one report, about 50% of the entire market is controlled by these large corporations.
Nitro is seeking to disrupt this flow of the production of games and it wants do that with two components, the first component will be through their cyrptocurrency which they are calling NOX. The second component will be an online marketplace called the Nitro Marketplace.
Their cryptocurrency NOX, will be a token based on the Ethereum platform and will be the focal point of project’s activities.
The cryptocurrency will allow global token holders to be full active participants in the video game economy by :
- Voting for new games that they wish to see receive funding from Nitro
- Engage with game producers and promoters
- Use NOX tokens for in-game items/currency
- Game-titles funded by nitro will share a portion of their revenue with Nitro and NOX holders stand to receive rewards for their participation and contribute to the network.
- The Nitro marketplace will allow all parties in the vdieo game indsutry spectrum to come together an efficient manner. Allowing for collaboration, interaction and transaction in a streamlined manner.
An example of this collaboration would be, allowing gamers to discover and play new games that are promoted by the game studios. This way the game studios are able to see how the users are reacting to it and what sorts of feedback they can retain while at the same time the gamers are able to collaborate with game studios and have an active hand in the game release.
The nitro platform allows for the integration of all aspects of the industry (promoters developers and gamers) to come together but the problem of trust and seamless transactions still are not addressed, this ever present friction is not conducive to fostering great collaboration and must be dealt with for success. This is where the NOX currency comes to play, introducing the aspect of a safe and reliable means of transaction. The cryptocurrency provides a great system to transact and realise value in a secure and efficient manner. Nox provides a way to transact but it can also be integrated into the games themselves as rewards or credits. Developers and gamers will then be a core user demographic and will most likely be the ones to the early adopters and see the potential of utilizing NOX.
ICO/ Crowdsale of NOX (NITRO Token)
Available by crowdsale, manage by iCandy ventures working within the legal framework of BVI (british virgin islands) where the company is incorporated.
The crowdsale will begin on 7th November 2017 and will be conducted via Nitro’s website at www.nitro.live. A pre-sale prior to the crowdsale will be announced on the website soon. There will be up to 60 million NOX available for sale, raising up to 50,000 Ethereum (ETH), carrying a value of approximately US$15 million at today’s prevailing Ethereum price.
Please see more information on NITRO and also more info about iCandy.