Reality Reflection Raise $5 Million With Cryptocurrency Pre-ICO
Successful pre-ICO Cyptocurrency sale funds development of new location-based AR title Mossland.
Videogame development can be expensive. With cryptocurrency and blockchain featuring more and more frequently in the news, some developers are turning to alternative currencies such as Ethereum as a new way to raise funding for new videogame projects. The latest to attempt this is Reality Reflection, who have successfully raised over $5 million (USD) during a pre-ICO for augmented reality (AR) title Mossland.
Mossland is an AR mobile title that draws on similar location-based ‘check-in’ technology to social apps such as Fourquare to create a game involving buying and selling virtual real estate. Users will be able to identify nearby virtual properties and then buy, sell or trade them, using various methods to try and increase the value. This is incentivised by the integration of Cryptocurrency, whereby the virtual properties can be liquidated into cryptocurrency.
After the successful pre-ICO sale, developer Reality Reflection will be embarking on its main ICO (Initial Coin Offering) using Ethereum blockchain technology to fund continued development of the title. The Main ICO for Mossland will begin on 19th February, with an exclusive bonus of up to 15%.
In addition to buying, selling and upgrading virtual property, users can also take advantage of the P2P advertising platform integrated into Mossland. All Mossland users will be able to run an advertising campaign on the platform by setting a budget and using the intuitive interface.
Wooram Son, CEO of Reality Reflection, said: “Thanks to the overwhelming interest of users in Mossland, the Pre Sale could be closed successfully in just 38 minutes. As many people are excited as we are to create a mobile game that you can own famous landmarks, we will put all of our effort in developing Mossland to give unique experience to our users.”
Further news on Mossland and other new and upcoming AR titles will be right here on VRFocus.