Do you want to know what’s next for the game industry? Join gaming executives to discuss emerging parts of the industry at GamesBeat Summit Next in October. Register today.
Post-War Islands has raised $25 million from LDA Capital through the sale of in-game utility tokens for its Metaverse project.
Instead of raising funds through a conventional VC deal, the company chose to sell utility tokens from its metaverse game to LDA Capital over a period of time, David Lucatch, CEO of Aftermath Islands, said in an interview with GamesBeat. .
“We’re building a metaverse based on Unreal Engine 5 graphics, so it’s a break from the low-resolution cartoon-based graphics that everyone is used to,” Lucatch said. “We also use pixel streaming. And we’ve already earned over $2 million in revenue from 6,000 purchases. What makes us unique is that we have a kind of reserved, reserved decentralization. »
He added: “In the beginning we have decentralization with identity that makes sure that the people that are going to enter our metaverse are real people, real users. And in the background we have NFTs and stuff, but in the middle we still look to centralized gameplay because we need to have a clear direction for management and what to do.
This means that the company has not yet opted for a decentralized autonomous organization (DAO). The company has approximately 12,000 members on its Discord channel and 20,000 on Twitter.
The company will use the money to accelerate its roadmap for Aftermath Islands, which is working on both a realistic world where it will sell virtual real estate and a play-to-earn blockchain game to be unveiled upon “coming.” Aftermath Islands plans to develop its ecosystem, support the growth of its non-fungible tokens (NFTs), and work on its digital identity, multi-channel initiatives, game-to-win, virtualization and mixed reality, as well as others. decentralized initiatives.
“We make sure that people who enter our metaverse are authenticated at some level to reassure everyone that they are a real person,” Lucatch said. “We want real people to want one user one account. It’s really important. And we wanted it to be realistic graphics.
Aftermath Islands Metaverse Limited and Aftermath Islands Tokens Limited have secured the investment. The company is based in Barbados in the British Virgin Islands, while Lucatch is based in Toronto. LDA also has an option to purchase shares in Aftermath Islands Metaverse Limited.
Aftermath Islands Metaverse Limited is a Barbadian company 50% owned and controlled by Oasis Digital Studios Limited, a wholly owned subsidiary of Liquid Avatar Technologies Inc (CSE: LQID / OTC: LQAVF).
“LDA Capital is proud to be part of Aftermath Islands’ advancements in virtual worlds and games that will change the way players interact and transact with collectible NFTs in-game,” said Warren Baker, Managing Partner of LDA Capital, in a press. release. Most importantly, the company is the industry leader in digital identity verification, enabling a whole new world of in-game interactions. Ultimately, Aftermath Islands is transforming science fiction into history, and we are proud to be co-authors of this history to be.
Lucatch said the company has chosen to raise its initial funds from a long-term investor rather than selling tokens to the public initially. It plans to use digital identity to support safety, privacy and security and has adopted high-resolution images and pixel streaming to provide users with a fast, photo-realistic, no-download gaming experience on any computer. He said the company is building its world in Unreal Engine 5.
“It kind of emulates the concepts that Ernest Cline came up with Borrow player one, where you combine study and work in a virtual world. And then you can go out and do scavenger hunts and all kinds of great things. We can create communities of users based on things they do every day, but things they want to do, like defy the laws of physics and nature.
LDA Capital will purchase Aftermath Islands utility tokens over a three-year period based on the achievement of certain milestones, which Aftermath Islands plans to launch, but cannot guarantee that they will be reached by the end of 2022.
Aftermath Islands Metaverse is designed as a realistic open world graphics platform with islands representing destinations in a virtual world game. In the virtual world of Aftermath Islands Metaverse, users can buy, develop, trade, and sell virtual land, goods, and items such as buildings, crafted items, transportation, and other items, while in-game collectible NFT, a non-fungible token owned of virtual and other items.
Each parcel or parcel of virtual land is unique and owners can choose what content to put on their virtual land based on themes and other fair play rules. It can range from simple sets and structures to an interactive game, business, warehouse, residence, facility or destination.
Users can purchase virtual land and all other goods and services in Aftermath Islands Metaverse using fiat and other allowed currencies, coins and tokens. In the future, users will be able to use DUBS, short for Doubloons the Aftermath Islands Metaverse, the in-game currency. Aftermath will issue these DUBS tokens as cryptocurrency at some point in the future. But you can’t redeem it, otherwise it could be considered a regulated security in the United States.
Aftermath Islands Metaverse, powered by digital identity verification, is a shared virtual open world inspired by Ernest Cline’s science fiction novels: Borrow player one and Player two loan. Aftermath Islands Metaverse is scheduled to launch its beta platform in the second half of 2022 and will allow users to connect and communicate with each other, create content, craft, participate in activities and quests and play games.
Aftermath Islands Metaverse will have an in-game virtual economy where users can engage in economic transactions in the world and monetize the content, items, quests and apps they create.
The company has 30 people, internal and external, spread around the world.
Lucatch said the play-to-win game will be economically inclusive as you can buy plots of land for as little as $35 and you can earn NFTs by playing the game.
“One can go there to play, without having to buy land, make NFTs and sell them in the market,” he said. “And then they can earn enough tokens to buy land.”
Players can create their own items. Lucatch said the company will offer fun activities such as Metaverse Karaoke, where players can sing into their microphones, along with other unique features.
NFT opposition, crypto winter and competition
Lucatch is aware that hardcore gamers have expressed their opposition to NFTs as a scam.
“We didn’t go into the market for dollars, just to issue tokens,” he said. “We’ve done this in a way where our first funding is through an institutional funding group. We are a group of experienced people and do not hide behind pseudonyms. We are real people and we don’t promote and give in to the deal. We do it slowly and methodically to gain traction.
Regarding the crypto winter, he said the move to inclusiveness gives people a chance to try it out before they spend a lot of money. The target is therefore a more mainstream consumer, not just the crypto wealthy.
Of course, the hardest part will be facing Epic Games, Microsoft, Roblox and even Bored Ape Yacht Club.
“It’s going to be a big game,” he said. “But I’m thinking of amusement parks. I am a roller coaster fan and there are many amusement parks and travel destinations. We look for opportunities for collaboration and interoperability.
The company is currently testing a play-to-win game and hopes to open one of its islands soon, and it will have an open beta for its platform later this year or early 2023.
Lucatch has been in technology marketing for some 40 years and he and his team have worked in a variety of industries in the financial, entertainment and sports markets.
The GamesBeat Creed in dealing with the video game industry is “where passion and business come together”. What does it mean? We want to tell you how much the news means to you, not only as a decision maker in a game studio, but also as a game fan. Whether you’re reading our articles, listening to our podcasts, or watching our videos, GamesBeat helps you learn about and get involved in the industry. Learn more about membership.