GMO Announces Bitcoin Based Gaming Reward System
Japanese tech company GMO has developed a mobile application called “CryptoChips by GMO” that distributes cryptocurrencies as a reward within games to players. CryptoChips will have support for Bitcoin (BTC) and will reward players for in game ranking or for achieving missions. The cryptocurrencies will be distributed to players’ private wallets. The first use of this application will be with a game originally developed by GMO called “Whimsical War”.
In the press release GMO explained Whimsical War stating:
As the first initiative, CryptoChips will be mounted on GMO Internet Group’s real-time battle game “Whimsical War” and we will distribute Bitcoin in accordance with player rankings in the game starting in August 2018. CryptoChips will be mounted on GMO Internet Group’s other game applications as well. We will also get the competitors’ game titles on board in the future.
The company hopes to eventually offer CryptoChips through other game applications including some of its competitors’ games. GMO also plans to add other cryptocurrencies into the app in the future as it develops. The company has stated that one of their main reasons for creating CryptoChips is to help build worldwide awareness for cryptocurrencies. CryptoChips is one of the first uses for cryptocurrencies in the global gaming community. There are a reported 1.2 billion people playing videogames worldwide so leveraging the community to promote adoption of cryptocurrencies could end up to be a genius move.
GMO first entered the cryptoshpere in 2017 when they made an initial investment of $3 million in Bitcoin mining. The company recouped all of its $3 million investment within the first 3 months. The company uses 7nm chips to mine Bitcoin which is a high performance computer chip. GMO also plans to lunch a cloud mining service in August of this year.