DENVER, Jan. 09, 2018 (GLOBE NEWSWIRE) -- SPYR, INC. (OTC Pink: SPYR), a holding company with a wholly owned subsidiary in the mobile game & app development and publishing industry, today announced that it will be integrating Blockchain technology into its flagship game, Pocket Starships, and currently is taking steps to execute the integration.
According to the Harvard Business Review, Blockchain is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way." Blockchain, combined with the use of cryptocurrencies like Bitcoin and others, allows games to be connected to the real-world economies through crypto exchanges and P2P (player-to-player) transactions. Since cryptocurrencies can be traded on an exchange or between people, it opens an opportunity for funding using the in-game currency.
In SPYR’s new “Blockchain Universe,” players of Pocket Starships will be able to purchase a planet that will exist on the blockchain and will create resources for that player. Players will be able to buy their planets with cryptocurrency. Each planet will be wholly unique and will be buyable, sellable and tradable on a public planet real estate market.
SPYR’S Blockchain Universe plan includes the release of new planets on a regular basis. Because the planets will reside in the blockchain, they will be capable of integration and use within space-based games developed and published by others, not just in Pocket Starships.
Players will have more ownership of the planets they purchase. With a Blockchain record, players are guaranteed ownership, which gives their planets value to both the owner and other players. This will make players more likely to spend money in the game because a chance to “cash out” by selling your planets keeps them active but at the same time, allows players to recover some funds that they deposited.
SPYR will generate revenue by charging for the upkeep of planets and by getting a percentage of purchase prices on the sales and trades of planets.
SPYR’s CEO and President, James R. Thompson, stated, “Our SPYR team has worked diligently to come up with the best way to first incorporate Blockchain technology into Pocket Starships. I believe that we have come up with a very exciting way to implement Blockchain technology both within and beyond Pocket Starships. The ability to own a planet that creates in-game resources is something that will appeal to our players and keeping the planet on the blockchain will allow SPYR to work with other developers and publishers to have the planets exist in any number of space-themed games.”
About SPYR
SPYR, INC. is a holding company that through its wholly owned subsidiary SPYR APPS, LLC, is engaged in mobile application and game publishing and development. The Company is currently exploring opportunities for additional acquisitions in these and other verticals, including mobile application and game development, in order to expand its holdings, to drive and increase revenue and to generate profits and build value for shareholders.
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