Fast cars and cryptocurrency
Cryptocurrency investment was once upon a time the conversation around every dinner table, people were hearing about a way to make money and that has always peaked interest in most human beings.
The main problem was the obstacles in the way of these prospective crypto-traders – exchanges, tokens, blockchain, volatility, manipulation, pump, and dumps, and more. Where to start was the ultimate question.
For those already engaged with traditional finance and investments, the entire proposal looked quite familiar and they were able to benefit from making shrewd early adopter investments.
For the rest of us – and ironically the very people the blockchain proclaimed to be assisting – it has been a learning curve, one that has either seen many HODL tokens, engage with dapps, or perhaps exit the cryptocurrency space.
But for some, all that was needed was for the process to be put into a format they recognized. Enter blockchain games and the gamification of investment and reward functions within dapps.
Usability is king in this space right now. There are numerous dapps all with similar features that are all vying for space in the crowded market place.
The ones shining through are attempting to offer a utility and their users the most frictionless and beneficial experiences.
The IoI-Game provides an interesting insight into the gamification of investment functions in an attempt by the developers to onboard users.
Race and trade
The IoI-Game wants to be the bridge between Bitcoin trading and crypto games, merging them into one platform so that anyone can have fun while earning money playing online games.
Users are trading, but at the same time, playing a racing game. You predict market movements, create your portfolio, and bet that no other racer has done a better job than you.
In essence, it is extremely similar to cryptocurrency trading but with added layers of gamification and fun. To get involved the process is quite straightforward:
- Pick a race with the duration you like
- Pick your car;
- Fuel your car with any cryptocurrency from the list. You can also put a combination of coins; and
- Start the race
The system will track the cryptocurrency price for the selected duration so you can compete with other racers to win the prize pool for the current race. If you have selected the best performing fuel mix (crypto portfolio) you’ll win the prize pool.
The concept is straightforward, but on top of the standard functions, there are other bonuses from referrals, from staking or from joining a team. Top-10 players on each team receive a monthly crypto bonus for playing their part in the community.
IoI-Game is about the players, about the skill of the game. The creators claim that there is no such thing as the “house takes it all” or you “can’t beat the market” on the IoI-Game platform.
A new way to trade
It is certainly an inventive way to pair two things and we presume the ambition is to attract the demographic group most associated with cryptocurrency – Male, 25-45 with an interest in finance and luxury goods.
Fast cars and crypto would appear to tick those boxes but only time will tell if the project can go mainstream and fulfill their ambition.
It is essential to continually track the developments of the dapps listed on DappRadar. We will continue watching this space. Make sure you bookmark DappRadar and sign up to our newsletter below to get updates direct to your inbox.