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CloudMoolah was one of the most successful ICOs this year, having raised their target sum of US$15 million USD. They have proceeded to have their XMOO coin listed on the Coinsuper exchange, where it can now be traded with ETH.
Up until now, the bottleneck processes involved in game publishing in the Southeast Asian gaming market have been proven to be a huge constraint for developers. Cloud Alliance in partnership with Unity Technologies will use their flagship product, CloudMoolah, to disrupt this market space. It will essentially harmonize payment processes as a payment aggregator, and use its MOO App Store to help developers monetize their games. This will make it easy for them to access the unique opportunities of the Southeast Asian gaming market.
Unity’s role in the partnership is to help CloudMoolah have a platform where games can be built, integrated and marketed directly to their store.
Cloud Alliance is a company based in Singapore which explores the uses of blockchain technology to democratize the mobile gaming industry. The company is founded by experienced entrepreneurs who have put their collective wisdom and effort together to establish CoudMoolah, an incentivized gaming payment, distribution, and publishing platform.
The CloudMoolah games marketplace creates opportunity in the fragmented payment system of Southeast Asia. This is largely due to the low (less than 3 percent) credit card penetration rate. The solution they propose will enable gamers who do not have access to credit cards to use the platform’s XMOO token to pay for games and access in-app purchases. Revenues can also be generated for the developers.
Game payment revolution
Virtual currencies in video games isn’t a new concept and have been an important feature in many game designs. Using cryptocurrencies to replace virtual currencies is a new frontier and will truly scale-up the venture. The point of interest to CloudMoolah is the area of transparency, reliable stable income and curated content for both developers and gamers respectively. Incorporating blockchain into game marketplace design will enable them to achieve these objectives.
The XMOO currency is a utility token that is used for payments within the CloudMoolah ecosystem. The MOO store, an essential aspect of the ecosystem, is an app store that will allow users to purchase the finest games using the XMOO coin. This coin will also serve as an opportunity for developers to leverage publishing and marketing discounts on the platform.
Other service features such as value-added services and in-app purchases from third-party systems like Google, Apple, Amazon, Facebook, Xiaomi, and Samsung will incentivize game developers to create more games that will be popular with users. The potential market is over 500,000 retail point-of-sales across Southeast Asia.
Coinsuper is a cryptocurrency exchange that was established in October 2017 and recognized as one of the leading exchanges in Hong Kong. Crypto exchanges allow digital asset holders to liquidate or trade their assets with prospective investors or traders. This opportunity allows for a wider adoption of XMOO token.
The team behind the development of the exchange are experienced professionals in their field. Coinsuper uses high-security protocols like those found in banks for high-level data encryption. They trade many digital assets and the US dollar, thereby enabling crypto-to-fiat trading alongside the crypto-to-crypto trading.