(BlockBar) Samson Mow has been serving as founder and CEO of the gaming company Pixelmatic since 2011. It is to be noted that he is also the CSO of bitcoin startup Blockstream. Mow has launched a new plan to introduce tokens platform for launching security tokens on bitcoin. Pixelmatic will create a token for its upcoming game Infinite Fleet, a science fiction, humans-versus aliens space fighting game.
The most unusual part of the plan is that it will be launched on bitcoin – or, at least, a network that is tied to the bitcoin blockchain. According to Mow Infinite Fleet offers substance. He said “That’s why we’re doing a security token, not a token with no obligation,” Mow added that they’re trying to pioneer a new token model called a “dual-token model,” which effectively uses two tokens for two different purposes.
They’re in the process of selling a so-called “security token,” a breed of crypto-token which has got some attention recently, as they’re subject to regulation and require investors get a return on their investment. This is to be done to raise funds. The security token sale has been kept private, with a few “bitcoin OGs” participating so far. Infinite Fleet is aiming to raise $16 million by the end of the year with this token, when they expect more exchanges to be processing security tokens.
The utility token will be disbursed randomly to players in the game. Users will receive coins based on “proof-of-participation,” or how much time they put into the game. It is to be considered that the idea of creating completely virtual currencies for in-game economies isn’t new. However, according to Mow, Pixelmatic is looking to put a unique spin on the idea given its characteristics.
Pixelmatic is launching the token on Liquid. Mow said “I do believe in the technology,” he argued that it is “well-suited” for financial transactions because it doesn’t “stuff smart contracts in the chain.” He added that Liquid allows for more privacy than the main bitcoin blockchain. Blockstream has also been working on an implementation of lightning specifically for Liquid. Mow sees it as a useful feature that could be used in the game if enough people play it and transact with the native digital currency.