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Pocket Full of Quarters (POQ) has become a Unity Partner to enable developers to implement blockchain technology for games.
The company has received certification as a Unity Verified Solution Partner. This means that all Unity game developers now have access to the POQ Software Development Kit (SDK), which will allow them to quickly integrate blockchain technology into their titles.
This means that developers can adopt the token from POQ and use it in a variety of games. Instead of getting assets through games, with POQ’s Quarter Token you can get virtual money through multiple games.
This is an interesting model for a company started in 2018 with a 12-year-old child. Yes, George Weiksner and his father Michael founded the company, and Michael Weiksner was the CEO.
“With more than three billion video game players and the metaverse representing an $ 8 trillion opportunity, investors, gamers, and developers deserve to be told about the upcoming game,” he said. Michael Weiksner, in a statement. “As the world’s largest blockchain project, POQ usheres in a new era of interoperability in games, empowering gamers and developers to create the future of gameplay and the metaverse we want. “
POQ offers Quarters, the company’s game-independent digital utility token, designed with the sole purpose of giving players the freedom and flexibility to switch between games, said Tim Tello, POQ’s Director of Operations, in a GamesBeat interview. He sees the token as similar to the physical tokens you use to go to mall arcades to play slots. It’s a way to keep kids in the arcade as long as there are tokens to play with, rather than quarters.
“We came up with the idea of changing token fragmentation. There were so many games out there, but none of them shared tokens,” Tello said.
The POQ can say that it is in line with regulations because the company received a “no action letter” in 2019 from the Securities and Exchange Commission, meaning that the regulatory agency has no intention of suing the company for the way it is structured. his video game currency. IMVU also received such a letter. This means that POQ can legally sell its Quarters tokens to consumers who do not register them as securities (which are strictly regulated and can only be sold to educated investors).
Although POQ can say that Quarters is a compliant, interoperable video game currency for the metaverse, the universe of virtual worlds is all involved, as are novels like Snowfall and Loan player usa.
Finally, POQ wants the token to function smoothly with properties between games. He wants it to be used by players of hundreds of game titles and genres.
The company’s investors and advisors include Tim Draper (Draper Associates), Michelle Phan (co-founder of Ipsy), and Chris Cross (formerly of Blizzard Entertainment). The company started in 2016 and was incorporated in 2018. POQ has raised funds and has about a four-year track record, but he would not say how many. It has just under 40 employees and generated $ 1 million in revenue last year.
“We are at the point now, where we have done well. And we have all the support and all the tools we need, and we can help these game developers really shake things up, ”Tello said.
Tello said there are games with two million users using the token, thanks to the help of Phan, one of the advisors. And Tello said the company has a patent on “zero-click” transfer technology, which moves the token from game to game.
“Now that we have a partnership with Unity, we have an engineer-less solution that can add blockchain to your game,” Tello said. “We’ve partnered with a lot of corresponding chains and helped you get a grant from a blockchain. It’s literally plug-and-play for what Unity has built. There’s one-click authorization.
POQ does not use non-fungible tokens (NFTs) in games. It’s just a blockchain -based token, and the price of the token is the same. In contrast, Ready Games has created NFT -based tokens that can be used in a variety of games.
“We want to develop blockchain integration in video games,” he said. “If you implement blockchain, I can tell you when a token was created, where it was used, where it was placed, where it was processed.”
But the company doesn’t have to worry about complying with privacy law because it doesn’t collect any personal information, only the purchase and sale history.
Cross-platform currency, with no financial value, offers developers greater flexibility in how they create, distribute, monetize and intermarket games, ultimately allowing them to create many new multiplayer experiences without losing creative and economic control to publishers, according to Tello.
Developers can easily “install” the POQ SDK to gain access to Quarters in their games, while maintaining full control over how they want to deploy Quarters. This includes adding to their current money or replacing their current money. Developers who want Quarters to exist with their native currency have many design and integration options. As a result, developers have found it easier to integrate Quarters based on their games, business models, and player requirements.
Why Stores Allow It
Because POQ is unlike others when it comes to alternative cryptocurrency payments, its quarters can be used in games launched at Apple, Google, and Epic stores. This applies to stores because neighborhood prices are always the same. They are not sold at discounted prices and their price does not vary between different platforms.
“Our token is very different from most,” Tello said. “There’s no face value other than its economy. It’s not a speculative token.
This means that Quarters is not a cryptocurrency, even if it uses blockchain technology. Quarters are more like a utility token. POQ has created its own brand, but it has also created a white label solution that can be used by game companies themselves. All games that use the token are interoperable.
Finally, POQ believes they have a system in place that benefits developers and players.
Tello said this system eliminates the tariff that exists between games. If you switch games, you have to give up your virtual money. Tello said it was a “100% tariff”. If you have virtual money in a version of Call of Duty, you won’t be able to use it next year for the next Call of Duty, he said.
“We’re very different from the rest because we want to restore power to the players,” Tello said.
With POQ, businesses that use the Quarters token can build marketing alliances that generate customers for each other. So far, 60 video game companies have registered to participate. Tello expects them to launch next year. One of the rules is that POQ does not allow its customers to place cryptocurrency in their games outside of Quarters.
“We remember the days when a token could be played on all arcade machines,” he said. “Connecting games with the same token is the challenge. All you can do now is use the blockchain to connect your game to 100 different games. When you use tokens, they disappear. But when you enter, they disappear. in another game, they’re there right away.And that’s important for the use case.
Roblox is the same example, as it has many virtual platform games in the world. These games use the same Robux currency, which only works within the world and is not sold outside the platform.
“But the gaming industry can’t be limited to one app and one machine,” Tello said. “You have to have Unity and so on. You should be able to build on any platform. And so we introduced the blockchain-as-a-service model to do that. We can connect the games to each other and check their transaction history. »
Players are unaware that they are using the blockchain. Tello said he is wary of cryptocurrency and NFT-based scammers trying to defraud people of their money.
“I want the games to be fun. I love video games, because I’ve been building them for a long time. I want games to be better, ”said Tello.
Tello said he believes the company received the no-action letter because it approached the SEC to determine compliance, and he also said there was no face value for the token. . You can purchase it in-game, but you can’t take it out of the game in the real world and convert the token into money. You can take the token to another game, but not in the real world. this type of structure avoids problems like money laundering, he said.
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