Reality Clash Creator Aims to Raise £1.5m via Security Token Offering
The team also plans to license its technology.
Reality Gaming Group, the company behind augmented reality (AR) combat experience Reality Clash has announced plans to raise £1.5 million towards expansion plans, through a Security Token Offering (STO), as well as a traditional equity investment.
The investment drive will use the funds to help drive development of Reality Clash, as well as new titles using Reality Gaming Groups’ AR and blockchain platforms. Just like Reality Clash, these will have an ecosystem in which tokenised in-game assets can be used.
Teaming up with TokenMArket to launch the STO, Reality Gaming Group explains in a press statement that the STO is: “A new, digital type of equity share offering that offers investors the same rights as ordinary shares. Ownership of the share is recorded on the blockchain, with an STO holder able to sell on their investment at any time.”
“Reality Clash has proven to be a hit game with real resonance – think Pokémon Go meets Call Of Duty, with tradable player-owned assets. We’re tremendously excited to be embarking on the next phase of Reality Gaming Group’s growth,” said Tony Pearce, Co-Founder of Reality Gaming Group, in a statement. “As one of the first games companies to have raised money via an ICO in 2017 and successfully delivered a blockchain-based game, as outlined in our original white paper, it’s great to offer investors another pioneering way to invest via a Security Token Offering.”
In addition to the STO the company also plans on licensing its mobile geo-location AR platform and blockchain peer-to-peer digital asset marketplace to third-party developers.
Reality Clash began a phased roll-out earlier this year in Australia, New Zealand and Denmark, followed by the UK and Western Europe several months later. With a narrative set in a world of cryptocurrencies and hackers, players are able to compete in real-time first-person shooter (FPS) battles with their friends or bots. Players are placed in futuristic maps which are overlaid on the real world, allowing them to run around and shoot each other. Outside of combat, they’ll need to mine for resources, build new weapons or customise the ones they already have.