Reality Gaming Group to launch STO
Reality Gaming Group will be launching a Security Token Offering (STO) in a bid to raise $1.5 million to further develop its flagship mobile game.
It will be partnering with TokenMarket to launch the investment round which is a new, digital type of equity share offering that provides investors with the same privileges as traditional shares.
Ownership of the share will be recorded on blockchain technology which can be sold at any time.
Alongside progressing the Reality Clash game, the funds will be used to build new titles based on the same augmented reality (AR) and blockchain platforms, creating an ecosystem in which tokenised virtual items can be used.
It has also announced its intention to license its twin technology platforms. This will mean that third-party developers will be able to utilise them to create their own virtual worlds and decentralised in-game economies.
The first one is called the ‘Digital Asset Trading’ (DAT) platform. It is an open-source blockchain toolkit that enables developers and game companies to create tokenised assets.
The second will be dubbed the Reality platform and will enable licensees to accelerate the development of augmented reality and geo-location games for iOS and Android mobile devices.
“With the addition of 40,000 users on the Reality Clash app we have seen the company’s growth skyrocket and we are pleased to be supporting the next stage of development by offering this opportunity to our users,” explained Ransu Solavarra, CEO of TokenMarket.
Interested in reading more Reality Clash-related stories? Discover more about the game being shortlisted for two industry awards.