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Unity Gaming Engine to Integrate Kin Cryptocurrency
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Unity Gaming Engine to Integrate Kin Cryptocurrency

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KIN
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There is a tremendous amount of cross-over between avid gamers and cryptocurrency enthusiasts. Both are highly technical hobbies that involve knowledge of hardware and software. The recent announcement of a partnership between gaming engine Unity and Kik’s Kinship Foundation is unexpected, but not surprising. The agreement is mutually beneficial, and not just for Unity and Kik. The integration of cryptocurrency in gaming is a logical progression for the industry.

Unity is one of the most prolific game engines in the industry. They offer the tools necessary to make almost any type of game – and provide the backbone to many of the most popular games available. Their development kit is accessible to newcomers, but with enough depth to appeal to even Triple-A publishers.

Meanwhile, Kik operates one of the world’s most prolific messaging apps. Their recent creation of the Kinship Foundation brought them into the realm of cryptocurrency through the KIN token. The Kinship Foundation exists to further the aims of the Kin Reward Engine – monetizing digital applications in a way that preserves value for the user as well as the producer.

A Partnership that could Change Gaming

The partnership between Unity and the Kinship Foundation offers a new way for video game start-ups to monetize their games. The gaming industry is going through a change, much as movies and media have done before. The prior method of selling physical media at a brick-and-mortar store has almost completely evaporated. Digital distribution means are an increasing market share and cost substantially less. This cuts into the profit margin for gaming companies, and unfortunately makes indie games less viable.

The creation of the Kin Gaming SDK incorporates cryptocurrency monetization – something that creates a two-way road for gamers and developers. Developers can reward their players for engaging in the social media and promotional aspects of their games. They can provide KIN for impressive achievements or in-game events. Meanwhile, users can trade that KIN on open exchanges alongside other cryptocurrencies for real-world value. A unified digital currency allows KIN to be used inside any game that uses the SDK, a triumph of choice for the average gamer.

The Microtransaction Ecosystem

A controversial system since its inception, the microtransaction ecosystem for games has helped make up for shortfalls in gaming industry profits. Rather than simply buying a game at a one-time price, players have the option of buying in-game content at an additional price over time. Games that do this well, like Overwatch, restrict the purchased items to cosmetics. Players buy new skins for a nominal fee and can show these skins off to other players online.

The opposite side of the coin is industry giant Electronic Arts. Their egregious microtransaction systems created a social media firestorm that ultimately resulted in its complete abandonment. Part of this issue is a complete failure of comparison – something that the Kin Gaming SDK can fix. When there is a back and forth market for KIN that can be used in all games within the ecosystem, the choice becomes available. Games that attempt to fleece the players will find their bottom line impacted as gamers flock to other options.

The Immediate Result

It will take time for the Kin Gaming SDK to integrate into Unity’s system. In the short term, the Kinship Foundation will still benefit from this partnership through increased value to their currency. Unity will benefit from the intense public desire for blockchain integration. Companies like Kodak have found that simply announcing the integration of blockchain technology can cause a spike in stock value. Unity actually intends to use the technology as intended, which is a major bonus. For the cryptocurrency industry, this partnership represents another important step on the way towards public adoption.

We will be updating our subscribers as soon as we know more. For the latest on KIN, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Chris Ainsworth via Flickr

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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crypto trends
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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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