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FREED ICO Review

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FREED ICO Review

In a novel campaign to maximize idle computing power, the FREED project by TVX Games looks to integrate gamers’ computers into a global network. In exchange for offering up critical computational resources, game developers are provided “with a new tool for the monetization of non-paying gamers and to provide them with an ability to earn extra in-game bonuses in exchange for the computing resources of their personal computers.”  

Over the past few months, the crypto industry has been criticized for consuming serious amounts of electricity. Some reports suggest Bitcoin mining uses more energy than 159 countries of the world.

The energy consumption does not only leave a bigger carbon footprint, but also makes the use of network expensive in the long run.

When customers use the system they compensate game publishers in the system’s currency, the FREEDcoin token. Game publishers, in turn, compensate gamers in game valuables: objects or in-game currencies.

For game developers, the new form of monetization can prove to be more beneficial than in-game purchases. Many gamers around the world do not pay for the games and also do not purchase in-game content, therefore developers can make use of the FREED blockchain to utilize gamers computational power and offer tokens in return

The FREED white paper states,  “The FREED Blockchain allows one to coordinate tasks, pools and billing and dynamically distribute the workload.”

Problem

A major problem in the world at the moment is that resources are unevenly distributed, be it natural or manmade. The uneven distribution leads to wastage of the unutilized resources.

A perfect example of poor distribution comes from the global spread of computational power.

Cloud storage offers one solution to this problem: As most computers have built-in storages, cloud storage infrastructure can be put in place thus allowing a coordinated approach from computer manufacturers and cloud storage services to reduce computational costs.

Similarly, FREED reduces the costs of operating massive gaming networks. No matter how highly-equipped one’s computing power may be, rarely are networks being upheld by commercial super computers. Thus, a secondary alternative, even to cloud computing, is through distributed computing.

Through distributed computing, FREED aims to efficiently leverage computational power and distribute resources evenly, ensuring no energy is wasted.

For example, most new blockchain projects use open-source software, but when it comes to infrastructure they tend to use one or a few of the following.

  • Cloud instance
  • Public Blockchain
  • Use inner reward system to attract users
  • Use private blockchain

While using a public blockchain can be one of the best options due to its cost-efficiency, it incurs greater costs to manage as the network expands.

On the flipside, using private blockchain can make systems unsafe as it draws unwanted attention from hackers.

The other major problem is the lack of monetization option in the gaming industry. At present, most games are available for free, and game developers rely on in-game content for earning money. FREED solves this by adding in-game incentives for both gamers participating and developers working to push the boundaries for quality entertainment.

Both gamers and game developers are providing one another with value via the FREED network.   

Solution

FREED is a clear-cut solution that brings game developers, blockchain project and gamers in one room. Game developers have a vast user base and can generate a huge computational power. With FREED everyone wins: Game developers, gamers and, ultimately, anyone participating in massive distributed computational networks.

From the above mentioned perspective, the outlays of a much broader use-case becomes very clear.

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So to be a part of FREED project, the game developer registers to the FREED platform and its system will develop a wallet for the developer. Once done, the game developer has permission to the FREED platform SDK and will integrate the software into the game

Soon after, in the next update of the game, gamers can install the new version and gain the opportunity to earn money in exchange for permitting the FREED network to use the computational power.

The game developer in return provides incentives to gamers for their activities in the game. The developers can also offer subscriptions or other valuables in return for gained tokens.

The FREED platform is intended to spur development in two markets: The game industry and cloud computing market.

This can be done in two ways: The first where the project uses the FREED server and the other where they have their own task coordinator server.

Once everything is set up, the project buys the resources they need and FREED suggests and provides the resources.

Token Model

The FREED token is an ERC20 token and is associated with the amount of computational power in its Network. The token can be used as the internal game currency, “Payment for IaaS service that FREED provides” and game developers can use the currency to reward its users.

The fees paid by those who need computational resources are distributed among producers. The white paper states “The user pays for the time of usage. If a user asks for more than [one percent] of the whole network capacity then a price is set for each full percent separately, if a network is utilized more than 95 [percent] then the price is set for each 0.01 [percent] separately.”

For now FREED platform is tested in a closed mode within the company’s own games. In a year, the company envisions audience’ growth up to 30 million users.

Team

Evgeny Glariantov, General Producer, has been with the company since its start and is responsible for the strategic management of the company. Mr. Glariantov has over 15 years of experience in the field of developing and publishing video games.

Dmitry Molokanov, Business Development Director at the company,  is a marketing expert and has vast experience in developing several B2B projects. Mr. Molokanov is also an expert in monetizing games and has worked on several gaming industry projects.

The project has a pool of experienced people that have formidable experience in the gaming industry.

The FREED project also has several big names associated with it as partners like IBM Corporation, Alawar, Penta Games and Red Machines. IBM plays the role of its strategic partner, offering expertise in developing the FREED blockchain.

FREED developers, for instance, made use of IBM’s Bluemix cloud services which shortened the period of development.

Alawar is a key partner of FREED and is a leader in game development in Russia. Penta Games are one of the biggest game developers whose games have been installed on more than ten million devices.

FREED is a project that benefits all members of the gaming ecosystem as well as contributing to the environment in a positive way. Simply put, the project ensures that no computational energy goes waste.

Even before that, collaborating game developers, gamers and blockchain projects is an accomplishment in itself.

More information about the project can be found on it Website and Whitepaper.

Currently, the project is at the pre-sale ICO stage. Interested parties can leave their e-mail on FREED’s website https://freedcoin.io and get the latest news and early bird special offers for the token sale.

 

Disclaimer: BTCManager does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.

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