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Crytek Partners With Crycash, a New “Cryptocurrency for Gamers”

While Valve has removed Bitcoin payment options from Steam amidst the cryptocurrency flailing in value and stability, Crytek is doubling down on cryptocurrency by offering their very own form of encrypted cash, and its aptly named Crycash.

Crycash is an entirely new cryptocurrency designed with gamers in mind, likened as “an independent decentralized ecosystem of products for gamers fueled by an all-new, gamer-centric cryptocurrency.” The partnership with Crytek will see the blockchain-based cryptocurrency implemented into their free-to-play shooter, Warface.

The ecosystem is made up of four components all powered by the token (CRC), including: the Plink app acting as the umbrella for the entire operation with its messaging and chat service, a social network, a task manager, and a CRC wallet.

While most cryptocurrencies are obtained via “mining” them on specialized GPUs and CPUs, you can earn CRC via completing in-game tasks instead. These tasks are assigned to players via the Plink app, and once completed you’ll get CRC, a process likened as a replacement of menial in-game achievements.

You can use CRC on in-game items, or other games, or simply to resell later for cash if the value of the currency should go up. It’s currently valued against Ethereum (another cryptocurrency), which Gamesindustry.biz reports that CRC will be offered initially from December 12th through January 15th at 0.001 Ethereum for one CRC.

As one Ethereum currently trades for roughly $410, that makes a CRC equal to like $0.41. This price is only for the initial offering, and they’ll include early and bulk buyer bonuses. Crycash is hoping to get other third-party developers to sign on next year, while Crytek is getting 1.5% of all CRC transactions, and contracted developers will pay 20% tax on all transactions as well.

Crycash is even planning to launch an eSports gambling platform that will (of course) deal in CRC, by later next year. Prize pools for Crycash-based tournaments will be taxed at 4%. They’re also planning a Crycash-based advertising platform to allow developers to target specific demographics.

,
Brandon Orselli

About

Owner and Publisher at Niche Gamer and Nicchiban. Outlaw fighting for a better game industry. Pronouns: Patriarch, Guido, Olive.



21 comments
  1. Lucian Floria
    Lucian Floria
    December 8, 2017 at 1:53 am

    Ok, this is just desperate…

  2. orbo
    orbo
    December 8, 2017 at 2:10 am

    … This seriously reads like a joke article.

  3. Mr0303
    Mr0303
    December 8, 2017 at 2:17 am

    I wouldn’t trust Crytek to make sound business decisions.

  4. Udz
    Udz
    December 8, 2017 at 3:00 am

    Cryptocurrencies need to stop

  5. True Goddess Reincarnation
    True Goddess Reincarnation
    December 8, 2017 at 3:22 am

    Cryptocurrency seems like a long running con that is not only 100% risk meme currency it prob funds dark shit considering the “things” you can buy with it.

  6. Funtime Happysnacks
    Funtime Happysnacks
    December 8, 2017 at 3:28 am

    Kind of hilarious that they would decide to do this just as Steam drops Bitcoin as a currency.

  7. magicalfollower
    magicalfollower
    December 8, 2017 at 5:17 am

    Why?

  8. GameZard
    GameZard
    December 8, 2017 at 6:25 am

    SCAM!

  9. Chocolate ISISCream
    Chocolate ISISCream
    December 8, 2017 at 7:51 am

    Top kek.

  10. Chocolate ISISCream
    Chocolate ISISCream
    December 8, 2017 at 7:51 am

    t. poorfag

  11. RPG
    RPG
    December 8, 2017 at 7:56 am

    I thought the same exact thing when I was reading this XD.

  12. RPG
    RPG
    December 8, 2017 at 7:57 am

    CryCRASH is imminent.

  13. luggage lad
    luggage lad
    December 8, 2017 at 8:58 am

    feeling like you missed out?

  14. Andrew Krasy
    Andrew Krasy
    December 8, 2017 at 10:14 am

    CryCash

    It’s all there in the name.

  15. Spajeto
    Spajeto
    December 8, 2017 at 10:39 am

    Doesn’t add up, how is this a decentralized cryptocurrency?
    They’re just selling you funbux, there is no inherent scarcity beyond what they promise you. The white paper says they will attempt to have stability/value by buying back CRC from exchanges, essentially just artificially controlling the value.
    Should it ever reach any real value and have actual people wanting to purchase CRC, there’s nothing stopping them from creating an infinite amount of CRC and cashing out.

  16. Jared Bellow
    Jared Bellow
    December 8, 2017 at 11:37 am

    Sounds like quantitative easing.

  17. Bigfatdane
    Bigfatdane
    December 8, 2017 at 11:54 am

    You know why cash works, because regular normies believe in their declared value and can actually interact with the colorful slips of paper and finely engraved metal pieces in exchange for goods and services around the world.

    Bitcoins are for those who seek to evade taxation through the magic of converting something into nothing which they proclaim is worth a whole lot of something while at the same time mocking normies for not understanding how nothing can be worth a lot of something. Others do it to “”stick it to the man” by sinking all of their wealth into something you can’t show off to a normie because it doesn’t exist outside of a computer program.

    The problem is that both groups ignore that one day the normies they have to lower themselves to trade with will say “I need something more than two digits on a screen to give you this bread and water” and all they can do in response is to vomit out an endless talk about the power of something that doesn’t exist in the real world because cryptocurrencies entire value lies in being something that fall outside of all formally acknowledged monetary exchange programs.

    This brand of cryptocurrency will be even worse as its entire declared value comes from a company that not only expects everyone else to take their bullshit about it at face value, but that everyone will be willing to exchange something of value for a whole lot of nothing which you can’t exchange for anything else unless the others accept that your whole lot of nothing is actually worth something.

  18. Justin Williams
    Justin Williams
    December 8, 2017 at 12:39 pm

    No.

  19. Zombie_Barioth
    Zombie_Barioth
    December 8, 2017 at 5:40 pm

    That could be part of why they’re doing it, those who actually used bitcoin may go for this, or so they’d hope.

    I wonder if all the controversy surrounding loot boxes also have something to do with it.

    People may mock them for it, but look at how much games like GTA V make, if they got most games using it instead of their own fake currency they’d make serious bank for relatively little effort.

    For an ‘off the shelf’ game engine company it makes a lot of sense.

  20. UnpluggedBeta
    UnpluggedBeta
    December 9, 2017 at 5:05 pm

    Is it April?