Ireland-based social mobile poker provider KamaGames announced its entry into the Blockchain and Cryptocurrency landscape Monday with the launch of its KamaGames Token product.
Working in a similar method to other tokens, the KamaGames Token will use existing Blockchain technology and the Ethereum cryptocurrency platform, and will be available as a collection of in-game chips sold in a bulk block. Over time, players will be able to exchange KGTs for higher numbers of chips. Players will be rewarded with a maximum 11-fold growth for leaving their tokens untouched. a company statement claims.
Andrey Kuznetsov, CEO of KamaGames, said that the tokens represent an opportunity to thank the company’s claimed 100 million loyal players, and illustrate KamaGames’ intention to embrace new technologies. He claimed that the company is the first social casino developer to offer a bespoke cryptocurrency to its players.
“The launch of the KamaGames Token will help us to attract a new, additional audience as well as rewarding our existing players, Kuznetsov said. “We are confident that this launch will continue to raise our profile and help maintain the momentum that we’ve had this year. 2018 is shaping up to be our strongest year to date for growth, revenue and new game releases.”
The KamaGames Token has the functionality of a standard utility token and can be exchanged for in-game virtual currency (chips) at any time using an official KamaGames player account. Players then use their account to redeem the free chips awarded daily along with any other discounts, bonuses or services made available exclusively to token holders in the future.
The KamaGames Token will deliver 11 times its original purchase value in virtual chips, the company claims. This number is guaranteed, and can be purchased for either local, conventional currency or via Ethereum coin.
KGT can only be exchanged for in-game currency.