A new opportunity for fund-raising has emerged on the blockchain to help independent iGaming developers take their technology to the next level.
ILP Fundraising on the Blockchain
Initial Loan Procurement, also known as the ILP, is an ICO alternative inherently available to all gaming developers to expand out of the app stage while supporting expansion of iGaming technology in regulating regions.
The Developer's Journey
Any game developer's journey commonly starts with creating the technology to support an app, so that their game is available on a platform such as Google Play where people can try it out and buy it, or it can be picked up on the public market by larger gaming companies.
Widening Technology's Appeal
However, to get picked up, the creator has to find a way to set his or her game apart from this embryonic stage, and get his or her game included on gaming websites. This requires funding.
The Blockhive Fundraising Solution
ILP funding can be obtained through tokens issued by Tokenote platform which is sponsored by the Blockhive blockchain project.
Based in Tallinn, Estonia, Blockhive is a technology company that collaborates with partners and develops blockchain strategy and technology solutions with them.
Blockhive's Blockchain Specialisations
Blockhive has four main businesses it specialises in: a digital wallet, a cryptocurrency mining facility, a venture capital fund for blockchain projects, and a new ethereum-based crowdfunding solution that is the ILP under Tokenote.
Blockhive's ILP Tool
Tokenote is the name of the ILP platform Blockhive has developed to help companies jump-start their next stage of growth.
Established in 2017, Blockhive brings an in-depth understanding of the blockchain space to their approach of adding value to new companies by helping them select their best blockchain integration strategy.
Blockhive helps individual companies streamline operations through upgrading quality control processes such as seizing control of data, identity, information and value by placing it in secured data storage structures on the blockchain to eliminate extraneous third party actors who otherwise take fees for data storage.
Streamlining iGaming Companies
By eliminating the middleman in data management, the blockchain provides companies with opportunities not available in past business models which break all barriers of standard business and investing structures, with Blockhive offering its unique and expanding brand of blockchain-based business models.
Process Improvement Features
These models provide new capabilities which are important to emerging iGaming business models such as transfer of value without boundaries; data transparency; and sovereign data ownership.
Operating in the Field
Operating out of one of the most advanced digital societies in the world in Estonia, Blockhive chose the site after seeing how the nation has already brought decentralized technology into the everyday lives of its citizens.
Creditor ROI on the Blockchain
Blockhive has mastered blockchain fundraising through the ILP as a crowdfunding solution empowering creditors worldwide to contribute to the projects they believe in and receive interest payments, with Blockhive's Tokenote platform providing creditors with that opportunity to earn income generated from Blockhive's ecosystem.
The Blockhive Network
Blockhive draws upon a diverse multicultural team of programmers, engineers, designers, mining experts, and financial specialists including natural-language-processing scientists from a partnership with Tokyo-based artificial intelligence company IMAY to Blockhive's founding team from Estonia-based startup Agrello.
Blockhive PR Director Speaks
We had a chance to catch up to Blockhive Marketing Director Michael Naftaliev, who was ebullient about the benefits of the ILP for gamers in general and iGaming professionals in particular:
"ILP is a great way for professionals in iGaming to raise funds because it provides them with an alternative financing solution and opens the international market. The token structure allows them to raise money without giving up equity and it allows lenders to participate in the iGaming industry without the need to set up a company or put down a huge amount of resources.”
Blockhive, ILP and iGaming
Naftaliev shared a great example of how the Blockhive ILP program is working with an iGaming project to expand out of the App Stage:
“I spoke with someone who has an online bingo game business. He has revenue coming in and has ideas for new games and how to improve the process but needs some additional capital.”
That's where the Blockhive's ILP Platform Tokenote can come in, tapping into a new source for venture capital on the blockchain: the creditor.
Blockhive and iGaming
Naftaliev also points out the allure of the iGaming industry as an attractive sector for the Blockhive ILP project, because of the “familiarity iGamers have with Tokens and ecommerce in general,” explaining that Blockhive uses “tokens to administer the loan and gamers use tokens to play, so the learning curve and steps to adoption could be less intense."
Blockhive's ILP crowdfunding technology Tokenote empowers token investors worldwide to become blockchain creditors and earn income as interest payments, while offering new hope to independent gamers for expansion into the greater iGaming ecosystem.
The Tokenote platform has the potential to empower larger iGaming companies such as online casinos, aggregators, and software suppliers to harness the benefits of emerging technology by more rapidly integrating the vision of dynamic independent gaming developers to thriving gaming technology enterprises.