This website details an Initial Color Coin Offering (ICCO) to be made in Switzerland and governed by Swiss Law. The ICCO is being made by IOTA+ which is in the process of building a complex architecture to support online gaming. That structure is, in turn, based on a lower level system called IOTA which is a decentralised cryptographic type network originally conceived as a way for Internet of Things (IoT) terminals to communicate. To understand why IOTA+ is such an exciting concept you first need to understand IOTA. The best explanations are at the IOTA website, iota.org . A quick way of explaining IOTA though is that it is a decentralised system for allowing billions of machines and people to communicate – at essentially zero cost and at blindingly fast speed. That means that it can support a cryptocurrency (MIOTA). Unlike most cryptocurrencies you may know, it is green. It does not use blockchain mining but a far cleverer system.
The innovative part of the system being developed is the interaction of the IOTA network (and its fully established cryptocurrency) with a games platform (IOTA World and GameHub). This will enable a second tier of cryptocurrency, the so called utility token IOTA Experience Points (IEXP) to be fully integrated into gameplay. This will enable individual players to both enjoy game playing and to participate safely in the growing cryptographic economy. Indeed many will be able to build their own businesses within the system, creating unique Non Fungible Tokens that can be resold. Through the IOTA system any profits will easily be brought back to the historic financial system. The Fundraising – Initial Color Coin Offering is being made to launch the company, develope the GameHub and the first game IOTAplus and to make the utility token IEXP token work within it.
What have cryptographic utility tokens got to do with games? Well most interesting games already have some form of internal currency. Players can use it to gain advantage, and they can add to their account by being successful. Usually the creators of the game have control of that currency. When a player wants to move to a different game, they usually have to start again.
The IOTA+ system allows a radically new approach. IOTA GameHub will host a wide range of games and apps that support the utility token IEXP. Anywhere in the IOTA+ system, players will be able to buy items with IEXP and then trade them. Any time they want, they can then move to a different game, keeping their utility tokens. IOTA itself is a widely traded cryptocurrency so they can convert IEXP to normal money – dollars, euros etc when they wish. The players will be in control.