CryCash ICO - Desperation or genius?

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DarkStar02

2[H]4U
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Mar 1, 2006
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I just saw a facebook ad for this. Apparently Crytek is working on an ICO for a gaming crypto called CryCash that will be used for in game marketplace purchases, betting, and advertising. The concept isn't original but they might have the IP to pull it off. What does everyone think? Is this CryTek trying to cash in on the crypto currency hype right now or is this a legitimate business move?

https://crycash.io
 
Almost certainly just crypto hype. For in game purchases, it is 100% to the advantage of the company to maintain strict control of their currency. You want to be able to set pricing and conversions to other currency per whatever makes you the most money. There would be every reason not to want to cede control to some sort of distributed "crypto" system. What's more is that crypto coins, as least as they've been implemented so far, take shitloads of computation time to use. An in game currency takes next to nothing, it is just numbers in a database, a database you are running anyhow. Why would you want something that would need more power, when you already have a working system that uses less?

The whole reason games do in game currency at all is control/market manipulation. They could just charge you straight dollars/euros/whatever for things where you buy an item on your card when you want it. We know that works, that's how Steam and others do it. However abstracting away the real money works well. It lets them game the system, by offering preferential conversion rates when they want (putting the currency on sale) and making sure that once you are in to their currency, you can't convert it to cash later, except through them and they then set the rate (most simply don't allow it). Some "coin" type of system just defeats all that and so there would be no reason to want it.
 
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