Magic Cube Coin Introduction
We describe a network that facilitates the peer-to-peer development of an entertainment ecosystem, with an initial focus on the gaming industry. The network has two primary components: a utility token offering mechanism and an exchange mechanism to allow for liquidity and interoperability between utility tokens. Both the offering and exchange mechanisms achieve incentive compatibility between all involved parties through the design of the MCC token.
The Magic Cube network (herein referred to as Magic Cube) is a blockchain-based, decentralized entertainment ecosystem. Magic Cube is committed to assetbinding all virtual consumer goods (games, music, film, etc.) and implementing a new token economy that drives network effects for entertainment projects. Magic Cube Technology Foundation Ltd. (the Foundation) is putting these ideas into practice based on its own experience in distributing, channeling and publishing games. The promise of blockchain is a leap forward in the ability to engage in trusted transactions regardless of the surrounding institutional environment. Magic Cube intends to use blockchain technology to circumvent existing unfair institutional environments and drive network effects among users, with the goal of creating an entertainment ecosystem that fairly rewards producers and consumers of content. Magic Cube will initially focus on the gaming industry, due to our already established presence in the space. Blockchains can benefit game developers and players in the following ways:
• Reward the creators and early adopters of games
• Game development can be funded by the pre-sale of utility tokens to players.
• Players can have exclusive rights to certain features of their favorite digital media.
• Network Effects
• Game developers can have an alternative marketing approach to the monopolistic channels that currently capture a large percentage of developers’ revenue. Scarce, useful, liquid tokens in the hands of players will encourage players to market new games. Currently, it is difficult for developers to incentivize players to try new games. No one wants to play a game that no one else is playing. Rewarding players for putting their “skin in the game” can turn players into early adopters and therefore marketers of the ecosystem, similar to what we have seen in the ICO (Initial Coin Offering) market.
• Game players may resale utility tokens on an open and fair secondary market, potentially for a profit. Currently, players seldom receive benefits for being early adopters of a new game.
Magic Cube Coin Whitepaper pdf:
magic-cube-wp-en
