Game Protocol today pronounced its strategic partnership with Bancor. Most of traditional fundraising mechanisms within the gaming industry are being put to the test by Game Protocol which has availed much needed tools to game developers. Such tools are crucial in helping them obtain direct funding from the community.
Game Protocol and its smart contract generating mechanism
The smart contract generating mechanism by Game Protocol makes it a lot easier for most game developers to generate the funds they need through the sale of tokens.
Financing the vision of any given developer is a costly affair from the onset. Most of the developers end up resorting to the sale of their own newly created game tokens to achieve their goal. It is from that point that they are in a position to integrate the game protocol SDK in their game.
The SDK then connects the game directly to Bancor’s liquidity network as well as to the Ethereum blockchain. And the Protocol token balance is crucial in offering the necessary backing to the game specific token.
The role of the Bancor team
To guarantee instant liquidity to the various game-specific tokens at any point in time, Game Protocol relies heavily on the Bancor liquidity network. A person well conversant with the matter, but who wanted his identity kept anonymous disclosed that the Bancor team would be offering Game Protocol much needed advice on a wide range of topics from marketing, architecture, security and other aspects of running a vibrant blockchain operation. If matters play out according to plan, Game Protocol might end up with a $30M USD token sale at the start of September.
Game Protocol CEO, Jonathan Swerdlow opined, “We are glad we got the opportunity to cooperate with the Bancor team. We strongly believe in their vision of user-generated currencies, and we believe we can apply this model to gaming. I’m certain this is the beginning of what will prove to be a strong collaboration.”
The spokesperson of Game Protocol has stated that they are quite pleased with the use-case of the Bancor Protocol.