KamaGames has been long established as one of the world’s biggest social poker operators. Now it is launching a token sale that aims to capitalise on its loyal playerbase to raise $25 million.
The Dublin-headquartered company has today announced its own KamaGames Token (KGT), an Ethereum-based altcoin that marks Kama’s first foray in crypto.
KamaGames Tokens will link to the in-game chips used on Kama’s platform to play its popular range of games, including Pokerist. As time passes, the number of in-game chips holders will be able to exchange KGT for will increase, encouraging some serious long-term hodling.
In fact, those who leave their KGT untouched for three years will be able to sell one KGT for 77 million chips – an elevenfold increase on the 7 million chips each token is worth at purchase.
“We always try to offer something new and exciting to our players, and the launch of the KamaGames Token is a perfect example of this,” said Andrey Kuznetsov, CEO of KamaGames.
“It’s a fantastic opportunity to not only thank our players but to also show how KamaGames is passionate about embracing new technologies, in fact we are the first social casino developer ever to offer a bespoke cryptocurrency to our players.”
What makes KGT exciting is that the token has off-the-shelf utility in a way few ICOs do. From day one, holders will be able to use KGT to exchange for in-game chips to play their favourite Kama titles.
But the strong incentive to hold and gain larger, tangible rewards (regardless of market movements) means there shouldn’t be too many looking to sell out immediately. Indeed, even those who hold out for six months will multiply the amount of chips one KGT is worth by 2.5 times.
KamaGames may be new to crypto, but this is a company that has some serious scale behind it and a fantastic history in social gaming.
Its Pokerist app was the number one grossing app in 101 countries on the App Store, and in 2017 the company’s revenues were up 63.4 percent to $57.5 million.
The pre-sale begins in just under 41 days. Check out more, including the whitepaper, at https://www.kamagames.io/.