I mean no disrespect, but by now there are a hundred gaming related coins and tokens. Some of which have already partnered up with major industry players. What is different about TriForce and how will TriForce tokens survive among the competing gaming tokens?
Hi Zendalet,
It's ok, it's a fair question to raise
. Also please don't take our response as a challenge either, we just have to clarify a few points.
So there are two main areas we have to look at to answer this question. The first is, is the games industry market saturated with cryptocurrency solutions? The second is, how diverse is the games industry and how does our particular project fit into this diversification. Or in short, how is our project unique?
We have to consider that the games industry is huge. Think about how many cryptocurrency users exist, how many exchanges there are - and our crypto industry is nothing compared to the number of people playing games and revenues generated through businesses in the games industry. Just to highlight the difference in the crypto industry to the games industry - a recent benchmark study by Cambridge University suggests that there are around 5.8 million active users in crypto exchanges and up to 11.5 million active wallets.
Compare that to the games industry there is reported to be a staggering 1.2 billion people playing games globally. That means something like 1 out of every 6/7 person on the planet is a game player. Consider as well the revenues generated in this industry well exceed $106Bn and grows on average by 6.5% annually. It's just simply a massive industry with hundreds of niche areas to engage with.
Then to look at all the gaming crypto projects that are being launched - none are really in full production, none have dominated the market because it's just such a new innovative industry. You say that there are hundreds of gaming related crypto projects, but if there is really that many, how many are actually penetrating the market? We know of a small handful that are making real progress - but again they are not established. We're not saying that other crypto projects in this space are bad (as you mention some have secured partnerships) - it's just early days for this industry with massive opportunities as we all know.
So specifically where do we fit into the games industry then and how 'different' are we?
Our project is focused on developing/fostering the interactive games communities - that exist in a multitude of formats. We are creating specific solutions that doesn't just throw a product or service at gamers and developers, it has been carefully structured and crafted to create stronger unity between them. For example, one particular aspect that we are developing is addressing the issue of gamers going in breach of EULAs for games. This is lost revenue for the developers and publishers, plus is not smooth sailing for gamers that actually wish to pursue these avenues. Our solutions actually work to benefit both gamers and developers in these situations - even going so far as to improve player retention. This is just the surface, to really get into the detail it would be best to go through our white paper
https://triforcetokens.io/resources/white-paper-v3.3.pdf and pitch deck
https://triforcetokens.io/resources/pitch-deck-v1.4.2.pdf.
We understand the challenges faced by both sides having been involved in some external game markets myself, I can tell you there is a massive opportunity to monetise these activities, something I have yet to see other projects address.
Then comes the actual structure and ethos of the project. This is a business and we are putting things in place now that will place us in a much stronger position for future mergers and partnerships, making us more adoptable and attractive to the bigger institutions. We are advocates of positive change and are working on big challenges such as piracy and protection of players - so our vision is much more comprehensive than simple digital assets as many other projects focus on.
Hopefully this gives a little more clarity on what sets us apart? Ultimately innovation comes from those that are prepared to push the boundaries and those that have the ability to respond positively to trends - something that I know our core team has plenty of.
~ Pete Mardell, CEO TriForce Tokens
Thanks for your response.
I'm unfortunately not that much wiser.
I understand your first point. That the market is big enough for multiple gaming related coins and tokens.
Your second point is... vague. For instance, finding a solution to game piracy, and counterfeit in a broader scope, is one of humanity's biggest puzzles. Please forgive my skepticism about a blockchain startup claiming to provide that which countless DRM companies could not.
It's as you say, I should dig into your white paper, as well as the white papers of other gaming coins and tokens, to get a real answer. Not exactly an elevator pitch then.
But I appreciate the gesture.
If I may add to this...
We are fully aware and understand that piracy is not simple nor will it be completely eradicated. No matter what policies, procedure, software, technology etc is put in place, people will find away around it. What we aim to do is to work closely with Coventry University to better understand that root of the problem, why people pirate games. With this knowledge we are able to build our technology to provide a solution that helps minimise piracy by making it more profitable to the pirates whilst making it profitable to the developers where possible. We want to find that balance and fine line to ensure that we provide solutions to the industry that help make an impact, especially for smaller games developers.
Yes there are plenty of other organisations out there that already conduct such research and provide such solutions. But is it working? From the research we have conducted already, punishing someone only leads to further negative behaviour. By pointing out their mistakes and offering them a chance to redeem themselves, people seem to take a more positive approach. Not to mention, we aren't targeting these large development companies, our main target market is that of indie game developers, the underdogs if you will. The developers who lose large amounts of revenue to organisations who simply provide a gateway to consumers. We want to help the underdogs, providing them with new and unexplored revenue streams whilst helping reduce revenue loss through piracy. Thats not to say we won't provide our solutions and technology to the big guys, we are just concentrating our focus and therefore market.
Regarding the white paper, what Pete meant by that was its easy to judge a book by its cover. But until you delve into it and really get into the grit of it, will you really see their true colours. The white paper will allow you to make a true judgement of a project. Websites, banners and social media channels are all designed to look good and entice you, which anyone can do with the know how or the money. But to put together a solid and sound white paper, with real solutions to industry problems, now that takes time, effort and dedication.
Lastly, I understand your scepticism. However, ask yourself this. Why would an internationally recognised institution such as Coventry University put their reputation on the line for a blockchain start up that they don't believe in, baring in mind all of the controversies around it? Our team including myself have pitched our project to and met the director of the university who seemed more than happy to agree a partnership - We must be doing something right.
I hope that has shed some more light on the matter. Please feel free to let us know if anything is unclear or you have any other questions.
~ Jake Ashby, General Manager TriForce Tokens
Its no fun if I tell you all of them.
