Update: Soft cap wasn’t reached during the ICO. All funds were sent back to the investors and the initial team abandoned the project.
With people spending more and more time indoors glued to consoles and television sets, the team behind CryptoHunt felt like things needed to change. They wanted to give people the opportunity to go out, meet new people, and wanted to financially entice them in order not to have them feel like they’re “wasting their time on video games”.
CryptoHunt is an augmented reality game which uses game theory and economics to entice users into playing. For simplicity’s sake, you can say that the game itself is conceptually similar to Pokemon Go, where players run around the real world and capture virtual objects. The biggest difference from such games is in the financial side. Users will earn CryptoHunt tokens as a reward for completing educational and challenging outdoor missions and puzzles, and for trading unique items with other players. Players will explore real world locations in search for virtual chests, items, and creatures, investigating a layer of a mystical world placed on top of the real world. They’ll compete and race to complete challenges, work together and against each other, and earn money while doing it. The company’s business model rests on the massive adoption of the game, bringing along lucrative sponsorship deals and partnerships with retailers, bars, fast food locations and other points of interest. Sponsors can benefit from signing up with the game by making their retail location a point of interest, and players will have to venture there. Sometimes sponsored locations have higher rewards. (1)
The game will have a few additional game mechanics, which are explained below.
Proof of Care and Cheat (PoC)
The CryptoHunt team uses PoC to reach a stable version of the game much sooner than with individual tests, thus benefiting the game’s whole ecosystem. The PoC system will reward players for more improvement ideas, designs, submitted challenges and stories, and even proofs of cheating methods.
Players who find ways to circumvent the GPS reliably and present themselves as being somewhere they cannot possibly be, or those who manage to fool the game’s system into thinking they have something they shouldn’t have in their inventory, will be rewarded with CryptoHunt tokens (redeemable for money) if they prove how they did it and thereby help the developers prevent such issues in the future.
In-game, players will be able to earn the coins through tasks and challenges, through selling their rare and unique items to other players. Additionally, the coins will slowly decay if the player does not log into the game for a long time. This has two effects:
– The player is encouraged to play regularly, but in moderation.
– The number of tokens decreases over time, making the remaining tokens more valuable.
After a stable release, the game will have support for live stream tipping. The team will pick the most cryptocurrency-friendly live-streaming service, and integrate with it, providing the viewers with the option to reward the players they’re following with CH tokens. As a trivial and dumbed-down example imagine the following: a player’s task is “Get the chest that’s resting on top of that statue”. But then the viewers request the player to get there hopping on only one leg. If the player succeeds, the viewers reward the player with extra CH on top of what he already gets if the chest he’s after is the right one.
CH Debit Card
A debit card is planned for the future which would allow players to spend their tokens directly or withdraw from ATMs. With the result that people can really spend their earned tokens in an easy way.
Use of the CryptoHunt Token (CH)
The game’s isolated, but globally compatible micro-economy serves both as a means to fund in-game actions by players and as a means to reward players for not only completing in-game tasks, but also during live-streaming events by the audience.
Because it’s an ERC20 token, most exchanges can support it, so it could be globally traded for other assets. Theoretically, instead of using the tokens in-game, the active players who earn the CH tokens can exchange them for Bitcoin and trade on the cryptocurrency markets, or they can use the tokens with the CryptoHunt debit card.
60%: Token sale contribution; 20%: Game rewards; 13.5%: Company; 3.5%: Advisors and partners; 3%: Bounty and reward program.
The team’s tokens will be released at a rate of 15% per year. Additionally, once the ICO is over, the tokens given to the contributors will be locked for 30 days after the ICO, and will be gradually freed up at a rate of 12.5% per week after that, to be 100% released on launch day (June 1st).
Team and advisors
CEO: Sascha Srdoch, founder of multiple mobile apps and services. Including: Morch, a model booking app; Truth or Dare; Pixpost.me: a postcard selling app. (2)
CFO: Milan Urosevic, almost 20 years of experience working in the financial industry. He was the COO of Safe Invest for 5 years, a financial services provider in Central and Eastern Europe. (3)
CTO: Bruno Skvorc, a blockchain developer and owner of the Bitfalls.com technical tutorial magazine and consultancy company. (4)
Lead backend developer: Ivan Voras, a backend developer with a PhD in computer engineering. Multiple projects managed, from blockchain technologies, operating system kernel development to hardware solutions for Internet of Things devices. (5)
Advisor: Joe Blackburn, the Creator and Co-founder of Crypto Coin Trader (currently 92k members). (6) He advised over 20 Blockchain related projects and has a vast history in social media and community building. (7)
Advisor: Ivo Ugrina, MSc in Computer Science and Mathematics, PhD in Mathematics, 15+ years of experience as an IT and statistical consultant, software developer, researcher, head of a data analysis team and entrepreneur. (8)
No confirmed partnerships yet
’16 M1: Start of game development
’16/17: Game development
’18 M1: Final demo testing
’18 M2: Demo release, Whitelist application
’18 M3: ICO start
’18 M4: Start token release
’18 M5: Final game release, Major exchange listings
’18 M6: Application for the CryptoHunt debit card
’18 M10: Debit card shipments