Coinpublish

  • Coins
    • Bitcoin Ethereum Ripple
      Bitcoin

      Frank Muller Develops Premium Watch Supporting Bitcoin Cold…

      May 27, 2019

      Bitcoin

      Report – Japan’s Parliament Transfers New Cryptocurrency Regulations…

      May 22, 2019

      Bitcoin

      HTC Announces Bitcoin Complete Nodes on Smartphone –…

      May 14, 2019

      Bitcoin

      Startup Reserve to Develop ‘Venmo Style App’ in…

      May 13, 2019

      Bitcoin

      E*Trade Grids to Attempt Crypto Trading

      April 29, 2019

  • Blockchain
    • Blockchain

      Christian Dior and LV Owner To Use Blockchain…

      May 17, 2019

      Blockchain

      Report – Blockstream Comes Up With a Security…

      May 16, 2019

      Blockchain

      Blockchain Center Established at Northeastern University in Boston

      May 8, 2019

      Blockchain

      Shrimp Producers in Ecuador Join IBM’s Food Trust…

      May 7, 2019

      Blockchain

      Microsoft and Starbucks Collaborate to Develop a Blockchain…

      May 7, 2019

      Blockchain

      Four Significant Drug Firms Based in the US…

      May 6, 2019

  • ICO
    • ICO

      Zilliqa Mainnet Launch date: 31 January, 2019

      November 19, 2018

      ICO

      Indian Tech & Finance industry takes initiative to…

      November 1, 2018

      ICO

      Cryptocurrency Under Threat from State Sponsored Hacks

      October 31, 2018

      ICO

      Cryptocurrency to be Treated as commodities in India,…

      July 13, 2018

      ICO

      Indian women more bullish on Cryptocurrency than men

      June 29, 2018

      ICO

      ICOs are a colossal risk to retail investor…

      June 21, 2018

  • Press Release
    • Press Release

      Stoyan Angelov Sheds Light on Evedo – Placing…

      April 16, 2019

      Press Release

      Title: 5 Partnerships That Could Make Litecoin The…

      March 12, 2019

      Press Release

      European Blockchain Investment Congress 2019 Bringing Industry Professionals,…

      January 21, 2019

      Press Release

      PermianChain Technologies launches its blockchain-based oil and gas…

      January 15, 2019

      Press Release

      Alibaba files the patent for blockchain technology directed…

      October 10, 2018

      Press Release

      South Korea Looking to change Blockchain Landscape with…

      October 10, 2018

  • Guide & Analytics
    • Guide & Analytics

      TRX – Is it the next big cryptocurrency?

      November 21, 2018

      Guide & Analytics

      6 ways Cryptocurrency and Blockchain are altering Entrepreneurship.

      June 22, 2018

      Guide & Analytics

      Top 10 Trends for Blockchain Technology in 2018

      June 21, 2018

      Guide & Analytics

      3 Most Promising Bitcoin Proposals

      June 21, 2018

      Guide & Analytics

      Asymmetrical Cryptography

      May 31, 2018

      Guide & Analytics

      Decentralized financial system

      May 31, 2018

  • Regulations
    • Regulations

      Report – Japan’s Parliament Transfers New Cryptocurrency Regulations…

      May 22, 2019

      Regulations

      India – RBI’s Regulatory Sandbox Welcomes Blockchain, Rejects…

      April 19, 2019

      Regulations

      Report – FSA Japan to introduce new rules…

      April 18, 2019

      Regulations

      Vladimir Putin Orders his Government to Embrace Crypto…

      February 28, 2019

      Regulations

      Bill Passed in Luxembourg to Give Blockchain Securities…

      February 16, 2019

      Regulations

      Financial Watchdog in Japan Intends to Regulate Unregistered…

      January 8, 2019

FacebookTwitterLinkedin
Coinpublish
Uncategorized

Tap Coin, Uniting Gaming Economies with Blockchain Technology

by CP TeamJanuary 7, 20180
Share0
Add

One of the more profound aspects of the modern-day world is the ability to monetize almost anything. All around the globe the very definition of money is being radically updated with new innovations that are causing disruption to the mainstream traditional financial establishment.
One of the biggest aspects of this financial revolution is the emergence of Blockchain technology. A lot has happened since those early days in 2008 when the Bitcoin whitepaper introduced Blockchain technology to the world. Amidst the wave of exciting new innovations that have been spurred by Blockchain Technology, Ethereum has established itself as a veritable means of expanding the sphere of applicability of the Blockchain.
Using the sophisticated application development and smart contract protocols, developers are able to create intuitive Blockchain-based applications. This influx of Blockchain-based applications has opened up several markets to the seemingly unlimited potential of the cryptocurrency and blockchain market.
Almost everything from news verification to payment processing and even music licensing and crowdfunding are being actively disrupted by this emerging blockchain phenomenon. One area of the digital world that has been identified as having a potential for being disrupted by cryptocurrency and the blockchain is the gaming industry. The Tap Project (TTT) is a blockchain-based project that is hosted on the Ethereum blockchain and aims to provide unique solutions in the gaming scene.
Overview of the Gaming Industry
The global gaming industry is believed to be 2 billion strong with over $15 Billion on content alone. The total revenue of the industry in 2017 was over $99 Billion and this figure is expected to grow to about $118 Billion which is an increase of roughly 20 percent. This is largely due to the rapid rate at which gaming technology is being revamped almost on a quarterly basis.
In-game currencies have become ubiquitous in the industry. Developers introduce digital currencies that players can purchase with fiat currency in order to make purchases and unlock resources within the game. These currencies can also be earned by completing tasks within many games.
The digital tokens do not have any real value outside of the game and there are a lot of problems associated with payments and transfers of in-game currencies. In this digital age where monetizing assets seems to have mass appeal, it does seem like the gaming world is slightly behind.
TTT Concept
TTT is set up to be a full utility token that services the entire gaming market. Rather than having a multitude of legacy digital tokens for each title or gaming company, all in-game currencies will be decentralized into one game currency which can then be exchanged for other cryptocurrencies or even for fiat money.
The aim of TTT is not to have Tap Coin become a replacement for in-game tokens, rather as a conduit for the monetization of these tokens. Gamers will be able to transfer their hard-earned game coins into Tap Coins which gives them entry into the currency exchange market. In a way, TTT is providing an incentivized platform for gamers to earn rewards for playing their favorite games.
The Tap Project’s ecosystem is made up of Game Developers, Gamers, Cryptocurrency Exchanges, and the Tap Project Network. The core relationship in the ecosystem exists between TTT and Game Developers. By forming partnerships with Game Developers, blockchain-based monetization framework can be established.
The Tap Project believes that Game Developers have a lot to gain by partnering with them. For one, these Game Developers will have increased exposure for their titles. This is something that is sorely missing in the market as many don’t have the funds for executing rigorous advertising campaigns.
Developers can also introduce smart contracts into their gaming rewards framework. Milestones and Achievement Levels, when unlocked in games, can trigger the contract to release Tap Coins to the gamer’s wallet. Apart from being able to monetize their gaming experience, gamers will also enjoy multiplatform support by virtue of the Tap Project. Rather than having to keep track of dozens and scores of in-game tokens, gamers can use the TTT dashboard to manage and monitor all their gaming content. They can also transfer currencies across games making it easier to obtain enhanced capabilities in different titles.
The Tap Coin Token
The Tap Coin is the native currency of the Tap Project network. Tap Coin is an ERC20 standard token which means it is supported by a variety of wallet options and can function seamlessly in other Ethereum-based projects which incidentally account for an overwhelming percentage of all blockchain-based projects and cryptocurrencies.
Tap Coin can be purchased, sold and exchanged for fiat money on cryptocurrency exchanges. The total supply of Tap Coin is capped at 1.5 billion tokens out of which 140 million will be given to early adopters and 610 million will be issued during the ICO.
The Tap Project Team
The Tap Project team is composed of individuals with experience in the gaming industry, finance, marketing, and blockchain technology. Some of the team members include:
1. Haniff Knight
Haniff has many years of experience in the gaming industry being a founder of a gaming company. He has also provided streaming services for a number of gaming events.
2. Hugh Knight
Hugh has more than 15 years of experience in network infrastructure and computational development. He is also an avid gamer and has competed in multiple gaming tournaments.
3. Rory Piant
Rory combines experience in journalism and finance to provide expert consultancy services to many successful ICO and crowdfunding campaigns. He is a marketing specialist with a keen insight into the dynamics of the cryptocurrency economics.
Verdict
Digital tokens in the gaming industry aren’t a new thing. However, The Tap Project adds a layer of innovation to the concept that sets them apart from the crowd. This difference is due to the fact that it provides gamers with the opportunity to monetize their gaming. In-game earnings will no longer have to be only useful within the game itself as they can now be exchanged for fiat money or other cryptocurrencies using Tap Coins.
While there might be issues with liquidity using this model, the idea to introduce an incentive for holding a set amount of Tap Coins can go a long way to solve the problem of liquidity. Like most blockchain projects, its success lies mainly in the degree of adoption it receives in terms of partnership with key stakeholders which in this case are Game Developers. The allure of being able to turn hours playing games into money is surely one that has the potential to resonate with a considerable percentage of that 2 billion strong gaming community.

Add
Share0
next post
Germany’s First Crypto Exchange Launched
CP TeamCP Team
CP Team
A team of enthusiastic youngsters who wanted the world to know the pros and cons of the misunderstood cryptocurrency and blockchain, came together and started the website Coinpublish. When we decided to start coinpublish we knew we were in a race which had strong competitors and we had to be better and different. So we decided to roll the dice with crazy ideas which turned into amazing steps for the world to understand us better.

Related posts

Russia to Launch Cryptorouble to Evade Sanctions

CP TeamJanuary 7, 2018

“All funds are safe”, declares Binance.

CP TeamMarch 8, 2018

Dubai License to Trade And Store Cryptocurrencies Granted to Gold Trader

CP TeamFebruary 13, 2018September 21, 2018

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Recent Posts

Frank Muller Develops Premium Watch Supporting Bitcoin...

Moeen KhanMay 27, 2019

Report – Japan’s Parliament Transfers New Cryptocurrency...

Moeen KhanMay 22, 2019

Christian Dior and LV Owner To Use...

Moeen KhanMay 17, 2019

Report – Blockstream Comes Up With a...

Moeen KhanMay 16, 2019

HTC Announces Bitcoin Complete Nodes on Smartphone...

Moeen KhanMay 14, 2019

Startup Reserve to Develop ‘Venmo Style App’...

Moeen KhanMay 13, 2019

Blockchain Center Established at Northeastern University in...

Moeen KhanMay 8, 2019

Shrimp Producers in Ecuador Join IBM’s Food...

Moeen KhanMay 7, 2019

Facebook Feed

Facebook

Recent Posts

  • Frank Muller Develops Premium Watch Supporting Bitcoin Cold Wallet
  • Report – Japan’s Parliament Transfers New Cryptocurrency Regulations to its Upper House
  • Christian Dior and LV Owner To Use Blockchain to Certify Luxury Goods
  • Report – Blockstream Comes Up With a Security Token Platform
  • HTC Announces Bitcoin Complete Nodes on Smartphone – Exodus 1S

Archives

  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org

Categories

  • Altcoin (12)
  • Bitcoin (110)
  • Blockchain (148)
  • Coins (65)
  • Ethereum (28)
  • Featured (6)
  • Guide & Analytics (44)
  • ICO (18)
  • News (228)
  • Press Release (47)
  • Regulations (40)
  • Ripple (17)
  • Uncategorized (732)

Categories

  • News (228)
  • Blockchain (148)
  • Bitcoin (110)
  • Coins (65)
  • Press Release (47)
  • Guide & Analytics (44)
  • Regulations (40)
  • Ethereum (28)
  • ICO (18)
  • Ripple (17)

Trending

Tron Might Officially Partner With Ethereum in 2019

Moeen KhanApril 8, 2019

MyEtherWallet Floats a New Open Source Ethereum Blockchain Explorer

Moeen KhanMarch 13, 2019

Swiss-based SIX Exchange Lists Ethereum ETP for Trading

Moeen KhanMarch 6, 2019

Constantinople Diagnosed with Vulnerability of Reentrancy attacks

Moeen KhanJanuary 16, 2019

Recent Posts

Frank Muller Develops Premium Watch Supporting Bitcoin Cold Wallet

Moeen KhanMay 27, 2019

Report – Japan’s Parliament Transfers New Cryptocurrency Regulations to its Upper House

Moeen KhanMay 22, 2019

Christian Dior and LV Owner To Use Blockchain to Certify Luxury Goods

Moeen KhanMay 17, 2019

Report – Blockstream Comes Up With a Security Token Platform

Moeen KhanMay 16, 2019

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Coinpublish
About US
Coinpublish is an up-and-coming independent publication delivering news around blockchain, cryptocurrencies, distributed systems and the decentralized global economy. We strive to provide unbiased and reliable information to our dedicated and influential readers across the globe. Our mission is to empower our audience with the latest news on price changes, project developments and technological advancements in the crypto space. Read More
Contact us: [email protected]
Follow us
FacebookTwitterLinkedin
@2018 - coinpublish.com. All Right Reserved.
Coinpublish
FacebookTwitterLinkedin
  • Coins
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • ICO
  • Press Release
  • Guide & Analytics
  • Regulations