CryTek is finalizing the development of Crycash, a cryptocurrency to pay testers and players of its games, which will serve as an incentive for them to play longer.

Video game developer CryTek has partnered with a startup to develop its own cryptocurrency, called Crycash. Testing has started in Turkey, with a small group of testers, where the company will purge users on Crycash for testing the free Warface title. CryTek co-founder Faruk Yerli believes this solution is a bargain for the company compared to paying users through a regular marketing agency. Yerli has also told Polygon that it could be extended to other games and esports.

Wachtang Budagaschwili, CEO of the cryptocurrency companies, spoke to Polygon in a conference call. Players, when they reach certain achievements or milestones in the Warface, will be rewarded with Crycash. The capital will be placed within a secure digital wallet. This cryptocurrency can be traded by users as they decide and exchange it for Bitcoin, Ethereum or other cryptocurrencies. They consider that users are already familiar with the cryptocurrency market and that they will be able to exchange it to use them for the cryptocurrency they like or the other way around.

This raises one, why not go for a cryptocurrency that is already on the market, like Bitcoin? Well, Budagaschwili has commented that: 'It is the same reason why Steam removed cryptocurrency payments from its system. It is because of the volatility of the market. It's ridiculous. You don't know what Bitcoin will look like tomorrow. I bought one when it was worth $ 4.000… now it is valued at 18.000. You cannot anticipate these movements. One day it falls and the next it rises'

Yerli believes that the issue is quality rather than quantity. Free titles need quality users in large numbers to develop a viable ecosystem. Most players spend nothing and those who do need someone to play against. To make a vibrant community that allows whales to play, they need a lot of smaller, healthier fish. Yerli has worked with many marketing companies, but: 'They told us that if we wanted users for our game we would have to spend, per user, maybe $ 5 to $ 10. But what kind of users are they?'

In addition, Yerli has highlighted that a large number of users bought through this system, but, users are not playing the game. 'I paid cash and my user base increased, but my active user base did not increase. Obviously there is a problem '

Crycash will not only increase the user base, but will also encourage players to play using this cryptocurrency, which will also speed up the payment process for those who create assets for CryEngine, CryTek's graphics engine for games. We will not need four weeks for the credit card transaction, the developers will be able to buy with Crycash assets and the money changes hands in real time, practically. In addition, he highlighted that there has been "almost zero" fraud in the tests.

We see a problem in this. There are currently two cryptocurrencies with simulation purposes, such as FirstBlood and GameCredits, which are more or less similar proposals. The problem with FirstBlood is that it has stalled in a single game and they have not added this cryptocurrency to other games, which is a problem and GameCredits at the moment does not have much support and is designed to carry out transactions within games, it is not given As a reward. CryTek's solution, to be optimal, must enter CoinMarketCap and must also be implemented at different exchange houses, otherwise it does not make sense and cannot be changed.

Source: Polygon