The Virtual Gaming startup is looking to begin their public presale starting March 23rd, where participants will be able to purchase CHI coin, the native currency of Chimaera. CHI will be used for transactions on the blockchain, but also between blockchain and game channels.
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Game channels is a gamified version of the Lightning Network, a new development in cryptocurrency allowing for feeless and instant microtransactions. Chimaera would use game channels to enable players the ability to connect to not only one another, but the games world directly on the Chimaera blockchain.
With no need for a server, game developers have no maintenance costs when it comes to server upkeep. Another benefit is that since all gaming takes place on the blockchain, no human moderation is needed with players being automatically protected from cheaters.
Since all gaming takes place on the blockchain, gamers also keep real and liquid ownership of their in-game currencies, assets, and characters. Players can trade these with other players, and sell them for real-world currency if they desire.
This allows players to farm desirable items or traits for currency, or new users can purchase coveted items or get a boost by purchasing a skilled character without having to go through the grind themselves.
Chimaera will host a 30% discount in the presale and a 15% discount in the first main stage, incentivizing interested participants in acting sooner rather than later.
PARADIGM SHIFT IN VIDEO GAMES
This mentality enables a play-to-earn framework for all gamers, which could trigger a paradigm shift in the way players play. For the first time, gamers could realize either virtual or real profits from their efforts, increasing the retention rate for developers.
This framework would also eliminate sunk costs that come with players losing interest in a game, or choosing to play another game instead.
NEW PROJECT, VETERAN TEAM
While the Chimaera project is quite new, the team behind is very much experienced in relevant fields. For example, the team initially worked on Huntercoin, one of the first gamified cryptocurrencies which launched in 2013.
Using the knowledge gained from Huntercoin is just the beginning. A member of the team, Dr. Kraft, not only invented the underlying game channels technology, but also contributed heavily to the Bitcoin Core codebase, and is also a lead developer of Namecoin.
Other members of the team have decades of experience developing both indie and triple-A titles, working with studios like EA and Square Enix. Responsible for blockbusters like Command and Conquer and Medal of Honor, as well as IP’s like Star Trek and Walking Dead.
Fund allocation will see an even split between game development as well as business development and operational costs, accounting for 60% of total funds raised. 23% will be used for marketing efforts, through both online campaigns as well as strategic appearances at important events. 8% is reserved to the team and founders, 5% to advisors and partners, and the last 4% set aside for any legal fees.