Blockchain Gaming Project Immutable Sells out US$6.2 Million Genesis Sale

The company, which offers players true ownership of in-game items, is disrupting the gaming industry

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Blockchain company Immutable, who build video games with player-owned assets, closed off the “Genesis Sale” for their game Gods Unchained, the highest-grossing and most popular blockchain game since its announcement in July of last year. In an announcement declaring the end of the sale, the developers also shared details about their new marketplace, set to launch in the next few days. Given the open nature of the assets, however, players will also have the opportunity to trade their in-game cards and items on a variety of 3rd party and community websites, none of which require Immutable’s permission to operate.

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“We’re levelling up the outdated practices of the gaming industry,” said CEO James Ferguson. “Players hold immutable rights for the items they purchase or can earn in Gods Unchained, and thankfully the community that has cropped up and this accomplishment in itself proves people are excited.”

The sale ended by selling out of all remaining card packs, hitting the set goal of 33,333 ETH in sales worth approximately $6.2 million USD at press time.

The game recently made global news offering to pay the lost tournament earnings to professional esports player, Blitzchung, after he was banned from competitive play and had his tournament earnings stripped by Blizzard for saying “Free Hong Kong. Revolution of our time” during a post-game interview.

@Blizzard_Ent just banned @blitzchungHS and stripped his Hearthstone winnings because they care about money more than freedom. We will pay for ALL his lost winnings and a ticket to our $500k tournament: no player should be punished for their beliefs. #freegaming https://t.co/ONvtkG4x9G

— Gods Unchained (@GodsUnchained) October 8, 2019

Immutable, formerly known as Fuel Games, recently received $15 million in a Series A investment round led by Naspers Ventures, part of Naspers, a global internet group and one of the largest technology investors in the world, and Galaxy Digital EOS VC Fund, a $325 million ecosystem development fund run by blockchain-focused merchant bank Galaxy Digital.

In just the beta alone, Gods Unchained has sold over 6 million cards, generating over US$5 Million in revenue, including a one-of-a-kind card sold at an auction in 2018 for US$62,000, making it the 2nd most valuable TCG card in the world. The first season of Gods Unchained includes a ‘Gods Unchained World Tournament’ with a current prize pool of over US$550,000. 

Blockchain game economies unlock the transformative potential of trustless, peer-to-peer exchange, with in-game items being controlled by digital smart contracts. Together, these features allow players to buy, sell or trade assets with limited censorship or restrictions, enabling free-market economies to exist for digital in-game assets.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  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 in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. 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, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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