777.Bingo Building Blockchain Marketplace and Cryptocurrency Payment Solution for Games
777.Bingo (Telegram Channel: https://t.me/bingo777) is a blockchain platform with an ambitious but a straightforward business plan – to make money by selling real people a product they actually want – games.
“For people in the game industry, the only thing is how to make games profitable,” the company’s Chief Strategy Officer (CSO) Matt Lee said. “Making money for us is the first priority. If you don’t make money, the blockchain is going to be useless.”
To that end, 777.Bingo is building a blockchain platform that will serve as a marketplace for online games. A key feature of the 777.Bingo marketplace will be a wallet that would enable users to pay for games with a wide variety of cryptocurrencies. There will also be a fiat currency payment channel for gamers who are not interested in crypto.
“Bingo is an application, not a chain,” Matt said. “The first idea for Bingo is to make profit. Just offer people a whole scenario of the application of blockhain, not another blockchain.”
777.Bingo is an application that will deliver entertainment to customers, Matt explained. Matt thinks there are too many blockchains, and not enough practical applications for the technology, in today’s marketplace.
Cryptocurrency Payment for Traditional Games
“We are going to make crypto payments connectable for the traditional games,” Matt said.
“The first step of Bingo is to release games,” he added. “The games are going to be divided into two parts; the traditional ones, for example, the games you can play nowadays on screen, and blockchain-based games.”
Matt’s business plan is to release games, such as those available through the App Store, on 777.Bingo. Games will be provided by publishers, content providers and indie developers . Matt’s gaming company, Mob Arts Entertainment, will also launch its own game through the platform.
The games can be paid for with a wide variety of cryptocurrencies including Ethereum (ETH), Bitcoin (BTC), Qtum (QTUM), and Bitcoin Cash (BCH), and the platform’s own token – 777(Bingo) or “triple seven.”
A Blockchain Company currently not planning a Token Generation Event
The 777.Bingo team is so dedicated to building their platform that they are not even planning a token generation event (TGE) at this time. Instead, they simply plan to start distributing triple-seven tokens through a series of private placements, the 777.Bingo whitepaper indicates. Those placements should begin in March, globally, Matt said.
“The triple-seven token is the token we are proud to bring to the public,” Matt said. “It is an Ethereum-based token, it is ERC20.”
Among other things, 777 will serve as a rewards-points system for regular users of the Bingo platform. Matt and his team hope to lure gamers to the platform by rewarding them with 777. ERC20 tokens like triple-seven can be easily converted into Ethereum (ETH) or sold on the open market, which increases their value.
“If you play the game by 777, we are going to give you more bonus, we are going to give you more items,” Matt said.
The 777 token will first be sold in Europe and Japan. Matt hopes to bring it to major cryptocurrency exchanges, such as Poloniex.
“Triple-seven is not open to Americans and Chinese,” Matt admitted. Ironically enough, legal restrictions keep 777 from being sold in the country where it is based: China. Similar restrictions will keep U.S. residents from purchasing 777 Bingo for the foreseeable future.
Blockchain-Based App Store
Matt envisions 777.Bingo as an alternative to the App Store and Google Play where developers will sell games to the public. He thinks Bingo can attract developers by offering higher levels of reimbursement than competitors.
“I think Bingo is going to allow content providers, as we call them, publish games and other entertainment products,” Matt said. “Bingo is just for those kinds of people, those kinds of companies. They can find an alternative way to publish their games, besides the App Store or besides Steam.”
Helping Game Producers Make More money with an App Store Alternative
“We are going to be more competitive than the traditional app stores, people can make more money,” Matt said. “It’s an alternative choice to them.”
A better marketplace for games is needed because a lot of game developers simply are not making money. One of 777.Bingo’s main goals is to become an open marketplace for games.
“The way to monetize Bingo is advertisement and sharing games,” Matt said. “Income from games will be shared with content providers and players.”
The marketplace would enable game creators that lack the money and resources to distribute and promote their games to market their products. More importantly, 777.Bingo would enable game developers to make money off their work.
Mob Arts is Coming to the Blockchain
777.Bingo is backed by the highly-successful gaming company, Mob Arts Entertainment Corp, where Matt serves as CEO.
“We are not amateurs,” Matt said of Mob Arts, which has been in business since 2010. “The number of game users for one of our games was 50 million; and monthly revenues were over twenty million US dollars.”
Mob Arts has created many successful games including Space Tanks Online; which was at the top spot in the South Korean App Store during the first week of sales in 2013. Two more games were also featured by Google Play Store. As one of the best card games in China, one of them quickly rose to TOP 1 Grossing games of the Chinese App Store, just 3 days after the launch.
Mob Arts is working with Tencent Holdings Partner
Another Mob Arts game, House of Heroes was the first third-party developed game released on all the Chinese platforms owned by Tencent Holdings. Tencent’s subsidiaries include WeChat and QQ. Tencent is more than just a partner for Mob Arts. It is also an investor in the Mob Arts Entertainment Corporation.
Americans might be familiar with Mob Arts because of its worldwide Strategy Game (SLG) Wrath of War: Endless Dark Age, which is available through the App Store and Google Play. Other Mob Arts’ games include House of Heroes and Dragon Knight 3D.
Mob Arts is also collaborating with NEXON Group – a Korean company that has been in the gaming space 1994. NEXON is the number game provider in South Korea with such popular titles as CrazyRacing KartRider and DNF.
DNF ranked number two in global revenues with $1.6 billion in revenues. It was the number two game in the world in revenue; exceeded only by League of Legends, and has been a best seller for over 10 years.
About to Release Games
Blockchain solution provider Qtum and Mob Arts will test one game through 777.Bingo – Qtum Heroes. Qtum Heroes is described as the global cryptocurrency payment supported game with specific gameplay.
More ambitious plans involve Mob Arts’ next strategy game, Doom of Aliens. Doom of Aliens will be released through both traditional venues like the App Store and Google Play and 777.Bingo.
Doom of Aliens will be the first traditional strategy game that supports cryptocurrency payment. Doom of Aliens was released and featured by Google Play in February and will launch on 777.Bingo soon.
Traditional Vs Blockchain Games
The big money in gaming will come from cryptocurrency payments, not from blockchain-based games, Matt predicted. He thinks blockchain-based games will be a niche product that will have a hard time finding an audience.
“The blockchain game cannot be as popular as the traditional game,” Matt said.
Instead of a technology for games, Matt sees blockchain as an application for delivery of games and a payment solution, rather than an end in itself. His plan is to create a marketplace where gamers will purchase play with cryptocurrency, the 777 ERC20 tokens, and fiat currency.
Matt compared the functioning of 777.Bingo to a cryptocurrency exchange. Users will be able to exchange altcoins and play games at the same time on the platform.
“For us Bingo is basic technology; it is an exchange, at the same time they can play games,” Matt said.
When asked why investors should be interested in 777.Bingo, Matt had a simple answer.
“The game industry is the ending of a total circle,” Matt said. “It is the closest industry to money.”
The long-term plan at 777.Bingo will be to offer a wide variety of entertainment for sale through the platform including videos. They also plan to add advertising to the platform in the future.
Matt’s team will start with games because that is where their expertise lies. Matt himself has worked on mobile games since the industry’s earliest days in 2003.
Matt worked as a game developer at Com2uS before starting Mob Arts. He also worked for a large electronics company Huawei and the American computer processor maker NIVIDIA.
More importantly, Matt is a lifelong gamer who started playing video games at the arcade when he was just four years old. He’s had real experience in the industry he is trying to the blockchain.
Matt will provide the strategy for tech industry veteran Chris Shintae Park; who serves as 777.Bingo’s CEO. Park’s experience goes back to web developing in the Silicon Valley in the 1990s. Lee’s company Mob Arts will serve as a technical advisor and development partner for 777.Bingo.
Park is a digital specialist who brings experience with Samsung’s Smart TV; the Samsung App Store, and Samsung’s e-commerce store in China to 777.Bingo. Park also has hands-on experience as a Ruby on Rails and mobile-app developer.
777.Bingo’s Chief Technology Officer (CTO) Peter Pan was in charge of the development of the hugely popular game House of Heroes. House of Heroes has been downloaded more than 50 million times. House of Heroes is one of the games Mob Arts plans to release through 777.Bingo.
Pan was also responsible for the development of NEXON’s success Space Tanks Online. Pan has had a vast amount of experience with gaming development and marketing in the real world. He doubles as the CTO of Mob Arts.
That means 777.Bingo has an established company with a highly-experienced management team behind it. That company has sold tens of millions of downloads of games and made hundreds of millions of dollars from them.
Building Social Media for Gamers on the Blockchain
777.Bingo also has plans to create social media solution for gamers on the blockchain. It is partnering with BeeChat, a blockchain-based messenger that also serves as a cryptocurrency community. BeeChat’s area of expertise is developing social media solutions for the cryptocurrency community.
BeeChat’s app provides messaging, video calling, and sharing of messages, photos, video and audio with end-to-end encryption. Since Bee Chat is supported by hundreds of global nodes, it is designed to provide quality communications throughout the world without VPN.
777.Bingo will be first rolled out to cryptocurrency fans. Once it is established with that demographic, Matt hopes to promote the technology to the wider gaming community. Matt hopes to use games to popularize cryptocurrency with the gaming community and average people.
“We need a scenario to make blockhain useful, Matt said. “We need a scenario to make cryptos useful.”
Residents of the United States and the People’s Republic of China are not allowed to participate in the private placement of 777 tokens.
For more information about 777.Bingo please visit:
Full details of the 777.Bingo Project can be found in this whitepaper: https://777.bingo/paper/Whitepaper.EN.pdf
Mob Arts Entertainment Corporation’s website can be accessed here: https://www.mobartsgame.com/
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