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Tuesday, September 28, 2021
Home News South African Blockchain-Based AR Game nears $1 Million in ICO Funding Goal

South African Blockchain-Based AR Game nears $1 Million in ICO Funding Goal

A new South African Blockchain-based augmented reality (AR) mobile game called Augmentors, made in South Africa, looks well on its way to meeting its crowdfunding target of $1 million dollars in their Initial Coin Offering (ICO). 

According to a report in South Africa’s Ventureburn, by journalist Hadlee Simons, the project’s  30-day crowdfunding round for the Android and iOS game, in the form of an initial coin offering (ICO), hit half of its US$1-million target in 24 hours. Supporters who purchased coins came from the USA, Ireland, Germany, Switzerland, Slovakia, Norway, Romania, Netherlands, Canada, and China.

Michael Deon and Kyle Haffenden pitched their Augmentors game on the Shark Tank TV show last year, with venture capitalist Vinny Lingham getting on board.

The crowdfunding campaign sees 70 million in-game “Databits” (15 000 Databits is the equivalent of one Bitcoin) being put up for sale. Databits will have utility and not only can the be traded in cryptocurrency exchanges after the ICO, they can also be used in the game.

“The exchange for 1 Bitcoin (BTC) will be 15 000 DataBits. People, who have bought DataBits during the Token Sales or from another player after the end of the Token Sales, will be able to trade their DTB on the Blockchain and exchange them for other cryptocurrencies,” their  website notes.

“Seed funding for the development of the game came from Lingham’s startup angel investment firm Newtown Partners, which he co-founded with Cape Town-based venture capitalist Llew Claasen, who is also the executive director of the Bitcoin Foundation,” noted their press release. “Fellow Shark Tank South Africa investor Gil Oved, group co-CEO and co-founder of The Creative Counsel, Africa’s largest advertising agency, is also an angel investor in Augmentors.”

The crowdfunding ICO drive ends on 28 February, with an alpha version of the game expected to launch in May 2017 and a beta launching “shortly thereafter”.

 

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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