Placing creation at the core of the business since inception, KamaGames embarked on a marketing-based practice in 2018 designed to exam the waters of the blockchain and cryptocurrency space.
Via the launch of the KamaGames Token, the association emphasised a primary aspiration of rewarding existent players, and to serve drive the captivate for new users.
Establishing a different set of goals to a normal ICO, with a aim of attracting investors’ income not even on the radar, a judgment was built to safeguard that players would stay, reason the tokens and accept reward chips on a daily basis.
Amongst the countless issues of fraud, falsification and a wider miss of understanding, KamaGames found that a immeasurable number of people only wished to utilize the token to make a discerning buck.
A number of complications concerned within the whole routine was a primary regard of only a “miserable number of people” found to be meddlesome in creation payments around cryptocurrencies, aside from a “very small, very outspoken percentage” of players.
Andrey Kuznetsov, CEO of KamaGames, elaborated on some the issues concerning crypto payments, “So when we started, we had a number of questions we wanted to answer. Firstly, to see what the tangible direct was by giving people the event to compensate with crypto, and see what happens. If they decided to take to it and if there was a big demand, we’d think about a intensity long tenure doing of such a remuneration resolution into our products”.
“Secondly we wanted to try to attract some new players, outward of our usual, required user merger channels. We had carried out some early investigate and found similarities to those people shopping cryptocurrencies and investing in them and our existent actor base”.
“We also wanted to offer something new to our existent players, mostly to urge retention, urge loyalty, urge engagement. This was the categorical reason because the token was designed the way it was.”
At the early stages of the token sale it was pure that attempts to rivet over players didn’t work as well as finding that If something is holding too long, or is too complicated, people are fast going to switch off.
Further issues came in the form of falsification and a miss of understanding, with Kuznetsov explaining, “The immeasurable infancy of people do not want to indeed use these so called application tokens. They buy them to sell after on an sell to make a discerning profit. If you call yourself an investor, because would you deposit in the company, and then rush to sell your stake, whatever it is in a month or in a week.
“Individuals do not want to indeed use the tokens for their dictated purpose”
“You’re not an investor, you’re a trader, if you’re not researching anything about the company, you’re not even perplexing to know the value of what you are perplexing to deposit in, so you are quite personification a pricing game.
“Looking at the wider so called application token market, people do not want to indeed use the tokens for their dictated purpose, they simply want to trade them. This is one of the reasons because there are so many authorised complications compared with application tokens and their uses.
“We have been opposite anyone perplexing to resell any of our tokens on exchanges or to assume it anyway. We didn’t want it, we weren’t means to means to do it because of the risks and intensity authorised consequences that could impact us as a tolerable and flourishing business.
“We didn’t sell that many tokens, we had around 30,000 participants in sum opposite the whole plan but if we had finished this token sale a year ago, we am almost 100% sure we would have sole as much as we wanted.
“There are also intensity issues with technical delays … we really couldn’t means to take that form of risk”.”
“That said, if that had happened, we also think we would have had a whole new set of hurdles to understanding with because even notwithstanding carrying all the explanations and information given to them time and time again, both our players and our new users that were not informed with crypto, were not only put off by the complexity of the whole set up routine such as formulating a wallet, joining it to an comment etc, but were also against to divulgence their temperament during the KYC theatre as of course they were only shopping elementary practical banking for the diversion rather than a financial asset”.
Finally, a number of discoveries were also found when looking at the awaiting of building a diversion privately for blockchain, one of which was the probability of KamaGames’ trust potentially entrance in question: “We really researched the probability of formulating a diversion on blockchain itself, but we faced a number of issues.
“First of all, it was just technically impossible, because we have more than 1.5 million exchange per notation in Pokerist and the number is growing. At that time there was no blockchain famous to us that could hoop that volume. There are also intensity issues with technical delays and deliberation our genre and assembly we really couldn’t means to take that form of risk.
“A serve regard was that of our RNG in that if we were to put it on blockchain it could turn much more predictable, and somebody will always censure us that we are not entirely transparent, not entirely decentralised and so because do it”.