Is NEM the next platform for NFT? Intro to KF crypto Game
Updated: Sep 20, 2018
On this post, I would like to come back on our choice to build Krypto Football on the NEM Blockchain.
As I said in the previous post we have opened our KF private Beta with invitation open for a first batch of players. after 4 months of developments with a small team in "Commando" mode...
Our initial goal, was to explore the Blockchain, launching a first crypto auction platform that offers original work of arts focused on sport. We also wanted to “tokenize” these artworks to be able to create a fun crypto game around them.
We have first explored the Ethereum platforms ERC20 and 721 NFT (Non Fungible Tokens) possibilities but with the XP we accumulated building several tech platforms in the past, we quickly seen that Ethereum was not ready (among other thing, the time for transaction validations can be crazy) and too expensive (gas) to develop a serious scalable business for now. Good luck for the ones on it :-) (note that the "for now" is important as maybe in the future the things will change but we are building our game to be played right now not for the next 2 years...).
Also our aim was to provide a Divisible NFT that enables fractional ownership of assets (artworks). Something you can’t really do now with Ethereum (If you see the Crypto Kitty game, the cats are unique and you can sell a cat but not a part of the cat).
It is where comes the NEM Blockchain platform. We found it easy for developers (based on API and not specific language) and we appreciated the fact that it enabled us to develop off chain and on chain rules that communicate with the APIs ... In other words, you didn’t need to put all the Game in a Dapp which, among other benefits, makes the things easier and faster for the end user.
We also really appreciated the relation with the NEM (PH) team and the advices from Anthony Law, Trikar (Nem HK) and Nigel Hugues… Thanks guys for your support!
To come back on the KF private Beta, each card auctioned is a unique Artwork representing a Football (soccer) team. (thanks to Kieran Carroll the first artist we invited).
We are proposing a first batch of assets cards that represent the teams of 5 first Football (soccer) competitions (UK Premier League, Spain Liga, France Ligue 1, Italy Serie A and UEFA Nation Leagues) ... more are coming.
From there, we have (Tokenized) linked each asset to a unique NEM Mosaic and a defined number of tokens attached (based on the asset category from platinum to outsider). All transactions in KF are managed on the NEM Blockchain… and, yes, we have created our divisible NFT :-)
Around this Art auction platform, we have built a game that enables to reward the asset card (arts) owners based on the performance of the teams in real competition. To do so we have created a system that enables to take part of the auction profits to both feed competitions prize pools and directly redistribute some crypto dividends to asset cards owners. Other fun features are coming, stay tuned.
For now, our KF Crypto Auction platform is open to buy the artworks and build a portfolio of assets with the goal of receiving crypto rewards. Each week the players can bid on all the game asset cards. At the end of each week (Friday 9pm - GTM+8) the highest bidders will be able to buy the asset cards with one crypto selected (XEM, BTC, ETH for now but more are coming). The rewards and profits are distributed in XEM.
As each artwork is linked to a unique mosaic and its tokens, we will provide, in a near future, an exchange to buy and sell tokens, enabling fractional ownership of an asset, (thanks NEM to enabled us to create our divisible NFT).
In other words, if you own the “Athletic. Bilbao” work of Art with its 100, 000 tokens, you will be able to trade part of them. After that the new rewards/profits will be shared between the asset owners.
You can get more info on the game FAQ page
As I said above we are exploring the blockchain possibilities with humility as new kids in the playground and the feedback and suggestions during this private beta will be welcome.