BitGuild ICO Analysis

16 min

The next is an goal assessment of BitGuild ICO. The assessment relies on sure standards, which we predict are necessary for an ICO venture to succeed. We measure a profitable ICO by brief time period and long run ROI estimation.
The next will not be a monetary recommendation.


BitGuild is a decentralized gaming platform constructed on the Ethereum blockchain. The venture goals to revolutionize the present centralized gaming trade by making a decentralized, international and unified gaming setting, the place gamers personal their in-game belongings, and all in-game digital belongings are tokenized and tradeable. BitGuild additional aspires to redefine the connection between builders and gamers, by creating a global platform that fosters each player-to-player and player-to-developer interactions. The driving force of this platform would be the Platinum (PLAT). An ERC20 token can be used for buying and selling all in-games digital belongings on the BitGuild platform.

The venture is developed and managed by BitGuild Basis which is registered in Singapore. The staff and advisors behind the venture are extremely achieved and well-experienced leaders in each the cryptocurrency and the gaming trade. The founder & CEO of the venture, Jared Psigoda, was beforehand the Co-Founder and CEO of Actuality Squared Video games (R2Games) a global developer and writer of browser and cellular free-to-play video games with over 80 million registered gamers from over 150+ international locations. BitGuild has already established partnerships with TRON, and with three gaming firms which are at present growing blockchain video games for the platform. The venture’s early contributors embody Patrick Dai (Founding father of Qtum), Andy Tian (CEO of Asia Improvements Group and Gifto), Brock Pierce (Founding father of Blockchain Capital), Justin Solar (Founding father of TRON), and extra.


Let’s get going with our analysis!

The Gaming Business And Its Present Drawbacks

The gaming trade has skilled sustained development because it’s early days. Whereas within the early 90’s, the gaming market worth was estimated at round $100M with a number of million gamers, at this time’s gaming trade market is already valued at round $116Bn with over 2.Three billion gamers worldwide. In accordance with the trade development, the ability stability has modified. the cellular gaming trade is quickly rising and is progressively dominating the market. In line with NewZoo’s international video games market report, by 2020, cellular video games will seize 51% % of the whole market.


Because of the expansion of the cellular video games trade, the demand for firms to satisfy, and exceed monetary expectations, has elevated. In that sector, gaming firms are being judged solely on their revenues and profitability and never solely by VCs and buyers but in addition by third-parties, reminiscent of Apple, Google and so on. The “Prime-Grossing Board”, the place video games obtain increased site visitors, is simply primarily based on the video games’ revenues. Therefore, gaming firms started to dedicate nearly all of their assets to growing options meant to do nothing however enhance revenues. In consequence, sport firms started to impose insane platform charges, uneven phrases of service agreements, and extra. These are the issues that BitGuild seeks to deal with. Let’s flip to assessment these drawbacks:

True Possession of In-Recreation Characters and Belongings

The issue: Previous to the arrival of the blockchain know-how, gamers didn’t have “True Possession” of their in-game digital belongings. As a substitute, all these digital belongings had been saved on the sport firm’s server, the place the corporate had full management. In lots of video games, there are authorized agreements reminiscent of Phrases of Service (ToS) and Finish Person License Agreements (EULA) {that a} participant should agree each time they log into the sport. These authorized agreements normally clearly state that gamers don’t personal any of the belongings they purchase inside the sport. Furthermore, in lots of circumstances (for instance in World of Warcraft), based on these agreements, the sport firm have the precise to terminate any account for any purpose at any time with out warning.

Blockchain-based video games permit for digital belongings to be saved in gamers’ digital wallets, the place these belongings can’t be moved with out the participant’s permission. The sport server interacts with every participant by “studying” his linked pockets and loading a visible depiction of his character and objects. This idea is already proved: in April 2017, EverdreamSoft (EDS) launched the Spells of Genesis. A cellular buying and selling card sport constructed on prime of blockchain know-how, the place the blockchain playing cards could be exchanged and traded exterior the sport. Within the following months, CryptoKitties was launched. A digital collectible asset that’s 100% owned by the participant and could be traded in change for cryptocurrencies or different CryptoKitties.

CooperativeCompetitive World Gameplay

The issue – at present most on-line video games are cut up into areas and servers. Right now such separation drastically decreases the latent potential of significant social interplay in on-line video games.  In some video games this division derives from community latencies, in lots of different video games, the builders are not directly pressured to design that division. Recreation builders usually should work with intermediaries reminiscent of Fb or Tencent who in-turn work with extra intermediaries (native networks and banks). Since totally different platforms are being utilized in totally different areas (Fb in Europe and U.S., and Tencent in China), builders are not directly pressured to design their video games otherwise for various areas in accordance with these platform’s insurance policies. As well as, the builders’ native companions additionally need to adjust to native legal guidelines. For instance, video games in China can’t present skeletons and blood. Subsequently, in lots of video games, gamers from totally different areas are unable to speak and play with one another.

A worldwide sport requires integration of varied cost channels reminiscent of credit card, on-line cost platform and so on. this challenge raises a couple of issues. Firstly, a few of these cost strategies aren’t open to overseas international locations. Secondly, exchanges in non-native currencies could contain excessive transaction charges and lengthy settlement instances. Thirdly, it’s arduous to cost on-line objects when you have to think about the transaction charges and totally different billing phrases.

Blockchain-based video games: as we are going to talk about under, BitGuild’s intent was to design a unified international gaming platform on prime of blockchain know-how, the place gamers from all around the world will be capable of play and work together on-line and all in-game digital belongings can be tokenized and tradeable.

In-Recreation Gadgets Buying and selling

The Drawback – In recent times, increasingly video games prohibit gamers’ potential to promote or commerce in-game characters and objects. Neither for actual cash nor for different in-game objects. This pattern is prevalent primarily amongst free-to-play video games. Free-to-play video games are video games which require no preliminary buy, however as an alternative, digital objects inside the sport could be bought with actual cash. Since on this mannequin any merchandise that’s traded between gamers, is income that isn’t going into the builders’ pocket, the latter progressively imposed increasingly restrictions. To deal with this challenge, commerce has been occurring over the past a long time on third-party web sites, exterior of the sport ecosystem.  The issue with that method is in time period of belief. These web sites, in lots of circumstances arrange particularly to defraud costumers by promoting objects with none intention to ship them.

Blockchain-based video games: By utilizing good contracts, gamers will be capable of commerce instantly with one another inside the sport, the place a third-party will not be needed.


The issue: video games like HearthStone and Conflict Royale generate billions of {dollars} a yr primarily based on tens of millions of transactions that vary in worth from couple of pennies to 10$. Gamers aren’t cost-conscious relating to extremely low cost objects, even when these things add up in the midst of time. The principle drawback on that method is the transactions charges. Worldwide financial institution wires and even worldwide on-line funds are sometimes topic to extra everlasting price whatever the quantity of the wire. Subsequently, in microtransactions, thee charges may be increased than the transferred quantity. To deal with this drawback, in lots of video games, gamers should recharge a minimal quantity of actual cash, which in flip, transformed to an in-game foreign money. After the cash has been transformed, it’s then could be spent on microtransactions within the sport.

Blockchain-based video games: By using blockchain know-how, gamers would possibly be capable of carry out microtransaction instantly, as an alternative of recharge minimal quantity. Nonetheless, it’s topic to negotiation whether or not public permission much less blockchains of their present constructions are in a position to permit concurrently, low transaction charges and quick execution time, whereas participating high-volume of transactions.Cross-Recreation Compatibility of Gadgets and Forex

As mentioned earlier, since in blockchain video games, the digital objects are all held within the gamers’ digital wallets, technically, they are often loaded into totally different video games. For instance, if a developer created a brand new blockchain sport referred to as Crypto Pets, he might technically load a personality’s belongings from CryptoKitties within that sport. Additional utilization of this function, could possibly be to import and export objects from first era sport to their second-generation counterpart. For instance, if one developed a client-based 3d model for the CryptoKitties, let’s say CryptoKitties 2, Kitties which created within the first model could possibly be loaded into the brand new model and being modified with new 3D inventive. The above is feasible even when these video games created by totally different builders.

Zero Fraud

The issue: Client protections, are among the many highest priorities of Bank card firms and on-line funds channel. If a shopper has any points with purchases on his card, he’s free to dispute the bank card firms and ask for a refund. Let’s assume You bought a pizza at your native store, and the clerk by accident charged your bank card for 99.9$ as an alternative of 9.99$. Visa or Mastercard’s anti-fraud staff will rapidly understand {that a} clear mistake was made and can refund the transaction. Whereas such incident could be simply resolved in offline transactions, in on-line transactions, issues are getting extra sophisticated. If a shopper contacts the bank card firm claiming that he didn’t get an in-game merchandise he paid for, a refund can be issued. The sport builders may be unable to show that they did present a particular merchandise to particular character inside the sport. Even when the developer proves that he gives that merchandise, gamers could merely declare that their youngster purchased the in-game objects utilizing their bank card with out permission. Gamers could simply get refunded for all in-game objects, no matter whether or not they defective. Because the majority of the video games are free-to-play video games which their revenues primarily based primarily on these purchases, huge refunds to hundreds of gamers would possibly put these sport firms prone to being shut down. Moreover, builders need to spend money and time working anti-fraud groups, so as to forestall fraudulent purchases with stolen bank cards.

Blockchain video games: in blockchain video games, the transactions are everlasting, one-way, safe and clear. Subsequently, builders: (1) will simply be capable of present a proof {that a} participant acquired a particular in-game merchandise and (2) received’t need to spend money and time on anti-fraud detections (because the transactions are everlasting and safe).

BitGuild – The Platform

To deal with these points, BitGuild designed a world ecosystem for blockchain video games that include six main components:

Recreation Platform

the sport platform designs to be dwelling for each sport which has been developed by BitGuild, and video games which developed by a third-party. To ensure that a sport to be listed on the platform, it should make the most of blockchain and smart-contracts, settle for PLAT as the one cost choice and have tokenized in-game objects which are player-owned and tradeable.

Incentives for builders: To incentivize builders to launch their video games on the BitGuild platform, BitGuild present the next:

  • Localize: BitGuild’s staff has a wealth of expertise in sport localizations. The staff is prepared to help builders to localize their video games and can translate these video games into 15+ languages.
  • Advertising: builders will be capable of use simpler advertising methods. As a substitute of spending tens of millions of {dollars} on Google adverts, builders will be capable of pay that cash for the gamers as an incentive to play their video games. Business assets will turn into extra successfully used.
  • Funding drawback: BitGuild permits gaming firms to boost funds by way of using good contracts instantly from the gamers, and thus, solves the standard revenue-based funding points (can be mentioned within the Design Home part).
  • Crowdsourcing: BitGuild fosters a decentralized working setting for blockchain video games providers. Utilizing crowdsourcing, builders could scale back their operational prices.

 Incentive mechanism for customers:

  • Accounts: gamers will create accounts on the web site which can be linked to their wallets. New accounts begin at stage 1, and customers can achieve expertise level (EXP) primarily based on the quantity of PLAT they maintain over time: assumes you personal 10,000 PLATS which is saved in your pockets over a interval of seven days. On the finish of the week, your stability drops to 9,000 PLATS, the place it stays for the following 7 days, and so forth. Let’s stroll by way of an instance:

If the PLAT-EXP ratio is 1 PLAT=0.0001EXP per minute. Over the 2 weeks, you’ll achieve:

Week one – 10,000 PLAT * (7(days) * 24 (hours) * (60 minutes) *0.0001) EXP = 10,080.

Week two – 9,000 PLAT * (7*24*60*0.0001) = 9,072.

In complete: 19,151 EXP.

To incentivize customers to achieve EXP (maintain PLATs), customers who level-up their accounts will be capable of obtain platform and in-game rewards, titles, discussion board badges and so on.

  • Achievement – BitGuild platform will function an achievement part, the place gamers can achieve achievements by finishing platform or in-game duties. Gamers who will full achievement can be rewarded with non-transferable and non-tangible tokens.

Transactions charges: The revenues from transactions which happen on the BitGuild market will go to the promoting participant other than a Design Home contributor cut up. The particular quantity is but to be publicized.

Video games’ charges: all PLAT spent inside a sport on the BitGuild platform, can be cut up between the sport’s developer, Design Home contributors, and BitGuild. The portion allotted to BitGuild is not going to exceed 10% of every transaction.

BitGuild Wallets

BitGuild pockets will help PLAT, ETH, and different ERC20 tokens, and can show the PLAT stability and transactions historical past. The pockets will additional help a visible show of the non-fungible tokens (the digital in-game objects). In different phrases, a participant could have a transparent visible show of all of the in-game belongings that he possessed from the video games on BitGuild platform.

BitGuild Digital Asset Change

Each digital asset on the BitGuild platform can be tokenized and can be then tradeable within the BitGuild digital asset change in change for PLATS. Together with the BitGuild pockets, BitGuild will present customers with a free and open market the place gamers can put objects on the market, view present gives for buy and conduct trades.

BitGuild Neighborhood

BitGuild seeks to create the most important worldwide neighborhood of blockchain players on the internet. Therefore, BitGuild will implement a global discussion board system for customers, to facilitate worldwide player-to-player and player-to-developer interactions.

The BitGuild Design Home

As talked about earlier, Recreation firms are being judged solely on their revenues and profitability, and due to this fact, dedicate nearly all of their assets to growing options meant to solely usher in cash.

The Design Home’s predominant goal is to assist Builders to unravel these funding issues. The Design Home hope to create a clear market, the place sport firms will be capable of work together instantly with the gamers’ communities. Recreation firms will be capable of submit detailed plans about their sport: sport introduction, storylines and so on., and Gamers will be capable of assessment these submitted plans and select to contribute to their favourite initiatives utilizing PLAT. Subsequently, as an alternative of on the lookout for enterprise capitalists and buyers monetary exceptions, builders will be capable of deal with the gamers’ communities and their pursuits.

The design home makes use of good contracts to permit video games that attain their objective, to securely switch the event funds. The event funds can be launched to the builders solely when the latter hit sure improvement milestones (storyline full, playable demo, and so on.). If a sport doesn’t attain its objective in a specified period of time, all PLAT can be returned to the contributing gamers.

Moreover, the BitGuild design home intent to permit crowdsource for quite a lot of sport’s providers. For instance, a sport firm will be capable of put out a request for an artwork design of digital weapon and arrange a wise contract to pay X PLATS for a contract graphic artist who will design that weapon. This function will foster a decentralized working setting for blockchain video games.

(BitGuild) The Recreation

The primary sport launched on the BitGuild platform can be BitGuild: The Recreation. a sport the place gamers create distinctive particular person avatars which might accumulate distinctive objects by way of mining, crafting and preventing. A beta can be prepared in Q2 of 2018.

Token Use – PLAT

PLAT is an ERC20 token that can be used for buying and selling all in-games digital belongings on the BitGuild platform. PLAT would be the solely kind of foreign money accepted within the BitGuild Digital Asset Change.

Token Sale

BitGuild already raised 30Ok ETH, in the course of the non-public and Pre-ICO rounds. The early contributors embody Patrick Dai (Founding father of Qtum), Andy Tian (CEO of Asia Improvements Group), Brock Pierce, Justin Solar (Founding father of TRON) and extra prime crypto buyers that aren’t be disclosed.

Token Distribution

All PLAT tokens can be generated in a seed block and can be distributed as follows:

  • Token sale (45%): can be composed of preliminary PLAT token sale, non-public spherical, and pre-ICO spherical. Tokens which bought in the course of the non-public, and pre-ICO rounds can be discounted however topic to lockup restriction.
  • BitGuild Basis (25%): Basis’s token can be locked up for two years, with 15 being accessible after the tokens sale and 15 being unlocked each 6 months.
  • Contributors and advisors (10%): contributors and advisors could obtain PLAT tokens in change for advisory work. Most of those tokens can be topic to lockup restriction.
  • BitGuild Workforce and Founders (20%): token can be locked up for two.5 years utilizing the identical mechanism used for the Basis.


Throughout the first part, BitGuild will function a web-only platform. A cellular platform is anticipated to be launched later this yr. The preliminary video games can be developed in HTML and due to this fact, can be playable cross-platform (on each, PC and cellular). Within the subsequent few months, 2-Three video games are anticipated to be accessible on the platform, other than BitGuild (the sport).

  • 2018 Q1: Token Sale; Preliminary Platform Improvement; BitGuild (the sport) design full.
  • 2018 Q2: official launch; neighborhood performance launch; BitGuild (the sport) beta launch.
  • 2018 Q3: BitGuild (the sport) official launch; BitGuild pockets launch; BitGuild market launch; platform opens to third social gathering builders
  • 2018 This autumn: Min 5-6 blockchain video games launched on platform; Platform and all video games localized into 5+ languages; BitGuild Design Home beta launch; Migration to next-generation blockchain
  • 2019 Q1-Q2: 10-12 blockchain video games launched on platform; Platform and all video games localized into 15+ languages; BitGuild Design Home official launch.


Core Workforce

Core staff consists of 12 full-time staff members.

Jared PsigodaCEO & Founder

Jared was the Co-Founder and CEO of Actuality Squared Video games (R2Games) a global developer and writer of browser and cellular free-to-play video games with over 80 million registered gamers. R2Games licensed, localized, and printed video games in over a dozen languages, and had gamers from over 150+ international locations. Subsequently, he was the founding father of Livestar, a improvement studio centered on constructing stay streaming. Livestar utilized a gamified digital objects enterprise mannequin the place viewers might ship digital presents to streamers who would then obtain digital cash which could possibly be exchanged for actual cash (Much like Uplive by Asian Improvements Group, solely within the western world). In 2014, he was acknowledged as the one non-Chinese language member of the Forbes China “30 below 30.”

Curtis ChiuCOO

Curtis has gained in depth sport trade expertise whereas working as an govt producer and product supervisor in numerous prime gaming firms within the US and Asia reminiscent of Kabam, Outspark, Sega, and Konami. He beforehand served because the COO of Livestar.

Mikhail Larionov – CTO

Mikhail is a effectively skilled full-stack product and engineering chief. He led the Messenger Platform engineering staff at Fb and beforehand labored at The Walt Disney Firm as a product lead on Playdom video games reminiscent of Gardens of Time.

Advisory Board

Brock Pierce – Chairman, The Bitcoin Basis; Co-founder, Blockchain Capital,

Brock based IGE and IMI, which had been world leaders in digital foreign money buying and selling for video video games in addition to ZAM, one of many world’s largest media properties for players. Brock at present serves as co-founder of, the corporate behind EOS (a prime 10 crypto venture by market cap). He’s additionally the co-founder of Blockchain Capital, a well-known Enterprise Capital devoted to blockchain venture.

Justin SolarJustin is the Founding father of TRON and Callme (PEIWO) APP. TRON is the world prime 20 crypto community by market cap and an internet 4.Zero blockchain dapp platform. PEIWO is among the largest voice stay streaming apps in China.  He was listed on the Forbes 30 below 30 listing thrice between 2015 and 2017. He beforehand served because the Chief Consultant in Larger China for Ripple Labs.

Kevin Chou – Kevin is the Chairman & CEO of KSV eSports. Beforehand, Kevin was CEO and co-founder of Kabam, a frontrunner in growing console-quality cellular video games which was bought for practically $1 billion lately. Kevin serves on the Board of Trustees at UC Berkeley.

All staff members, advisors, and companions are listed on the BitGuild web site.

Conclusion- Professionals/Cons



The core staff, in addition to the advisory board are exceptional. It appears that evidently no higher staff could possibly be arrange for this venture. The core staff has a wealth of expertise in improvement, publish and function video video games in a few of the greatest gaming firms within the US and Asia. The staff additional brings a necessary expertise within the areas of sport localization and gamified digital objects. Together with the expertise within the gaming trade, the venture has a prime crypto advisory board (Brock Pierce and Justin Solar) and really attention-grabbing contributors (Andy Tian, Brock Pierce, Patrick Dai and Justin Solar). these collaborations, enhance the venture credibility and potential to ascertain extra vital partnerships within the crypto realm sooner or later.

Full hub for blockchain sport improvement and promotion

BitGuild goals to construct their very own blockchain video games, but in addition to draw third social gathering gaming firms to construct their video games and launch them through the BitGuild gaming platform. BitGuild helps these initiatives with authorized features, neighborhood attraction, improvement of the sport and extra. BitGuild created a win-win state of affairs, had been gaming builders flourish from launching their video games on their platform, whereas BitGuild will get pleasure from their person base and income development if the sport succeeds.

Venture feasibility

BitGuild’s aims are certainly bold. Nonetheless, contemplating the staff and advisors experiences, they appear affordable. The staff brings tangible expertise in sport localization and digital objects enterprise together with familiarity with each the US and Asian industries. R2Games (which led by Jared), licensed, localized, and printed video games in over a dozen languages, and had over 80 million registered gamers from over 150+ international locations. given their distinctive expertise, we imagine that creating a world unified gaming ambiance is a possible objective.

Honest ICO phrases

BitGuild seeks to boost a complete of 44 Ok ETH, whereas 30Ok ETH already dedicated. The non-public rounds could be thought-about as a serious disadvantage, as nearly all of the fund raised by way of these rounds are given with comparatively excessive bonuses. Nonetheless, BitGuild makes use of a lockup mechanism for BitGuild basis’s, advisors’ and early contributor’s tokens for a interval of two years (Vested evenly over time). As well as, Given the venture imaginative and prescient and potential, their arduous cap is affordable. All in all, the ICO phrases appears honest.


Early stage

(1) early stage of the venture: regardless of its bold imaginative and prescient, the venture remains to be in its early levels. whereas BitGuild’s web site and sport can be launched in Q2 2018, the pockets, market and Design Home can be launched solely round Q3/This autumn 2018.

(2) BitGuild’s adoption and success depend upon mass adoption of blockchain video games,

an immature trade. the idea of blockchain video games is pretty new. It could take time till Complicated blockchain video games can be launched and mass adoption will happen.

CryptoPotato ICO Analysis – end result

Workforce & Advisory board:  Extremely achieved and effectively Skilled staff and advisors (Brock Pierce, Justin Solar, Jared Psigoa, Kevin Chou). Rating 9.5

Stage of the venture: comparatively early. BitGuild’s sport and web site can be launched in a couple of months. The Design Home, pockets and market place can be launched throughout Q3-This autumn 2018. Rating 7

Venture potential: Aiming to create a unified international gaming platform. Blockchain know-how solves main drawbacks within the present gaming trade. Rating 9.5

Neighborhood and Media: ~10,284 Telegram members, ~6,976 Twitter followers. Rating 8

Token use:  PLAT can be used for buying and selling all in-games digital belongings on the BitGuild platform, no different foreign money can be accepted. Rating 9.5

ICO: Exhausting Cap – 44ok ETH ~ 39 M USD, 30Ok ETH ~ 26.5 M USD raised in non-public gross sales (Bonus of in the course of the non-public spherical 40% (Locked up, vested over 2 years) and 15% in the course of the pre-ICO). Rating 8.5

Whitepaper: Very detailed whitepaper. Clearly signify the necessity, the issue and the answer, in addition to the monetary circumstances of the venture. Nonetheless, there’s not a lot info relating to the technical features of the venture. Rating 7.5

Backend and Expertise: BitGuild platform, the sport, the pockets, Digital Asset Change and the Design Home. Proper use of Blockchain know-how. Rating 8.5

CryptoPotato BitGuild ICO rating: 8.59/10

To get invovled with BitGuild 

Be a part of BitGuild Telegram Group of 10,000+ members

Comply with BitGuild  on Twitter 

BitGuild Internet Website

For Extra Upcoming ICOs

The submit BitGuild ICO Analysis appeared first on CryptoPotato.

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Nikolai is a Canadian writer currently living in Singapore. His started writing on Blockchian and bitcoin since 2017, he do Reviews and Analysis on Coins, ICOs. He holds a Master in Business Management and have keen interest in Computer Since, Blockchain and love to write on latest trends in Blockchain space.

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