Mfun is described on their own website as being a rewarding ecosystem for gamers and game providers. It is focused on the South East Asia market and aims to give more power to both gamers and the people who provide their games.
Using Blockchain technology, they will offer a decentralized approach that helps everyone to earn rewards.
The pre-sale of tokens for the Mfun ICO is currently underway. The main sale is planned for October, with exact dates to follow.
We can look into this ICO in more detail by checking out the details on the Mfun site and in their White Paper
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Token: MFUN tokens
Hard Cap: : $25 million
Payment Methods: ETH, BTC, TEN, and QASH
Total Cap Size: 800 million MFUN tokens created (43% of them for sale in ICO)
Important Dates: Mobile proof of stake algorithm used to reward users. Smart contracts on Ethereum Blockchain
Private Sale: May-August, with pre-ICO sales in September
Public Sale: Planned for October 2018.
This is far from being the only Blockchain project looking to decentralize the game industry. So what is different about Mfun?
The idea behind this platform is that game providers get a good return for their work while players get a worthwhile gaming experience and some rewards.
By cutting out the middlemen, they hope to ensure that players and developers are rewarded for taking part. They also plan to focus on the fast-growing South East Asia gaming market.
The fact that they have already signed up some big name partners means that it is off to a strong start.
Project Use Case
The Mfun White Paper tells us more about how this platform will work in real life. When players spend money on in-game purchases, virtually all of this goes directly to the developers.
In the same way, when a games developer spends money on advertising this is given as a reward to players. Therefore, the idea is that money circulates in the ecosystem, helping everyone who uses it and makes it grow.
MFUN Team Overview
A core team of 9 members are listed on the Mfun site. The Co-Founders are Brian Fan and BP Tang. We can also see that Kevin Pang is the Chief Technology Officer and Michael Lee is named as the Head of Operations.
As we look further the list of team members we can see Head of Marketing Jeff Wong, Head of Communications Kerenina Sunny Halim, Senior Marketing Executive Yong Yun Lin, Head of Business Development Jaka Kristandi, and Senior Finance Executive Tirzani Melvin.
As we can see from that list, there is a strong emphasis on marketing and less on technical skills just now.
The Advisory board that has been put together includes the likes of Arief Widhiyasa, Ricky Setiawan, Jason Lim, and Indra Gunawan. As with the core team, there are links to the LinkedIn profile of each of them so that you can check out their backgrounds.
In all, there are 11 Advisors mentioned.
How Does The Token Work
The MFUN token will be used to reward both players and game providers in this ecosystem. 800 million tokens will be produced overall, with 344 million of them for sale in the ICO and private sale. The nominal price for each coin is listed as $0.10.
This is a utility token. Gamers can spend it to make in-game purchases and will also be rewarded for trying out new games. Developers will earn tokens when people play their games and can also spend on advertising using these coins.
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How The Investors Make Money
It is hoped that the strategic partners for this ICO bring in over 20 million gamers to the platform. If this happens then the resultant demand for tokens should help to increase their value.
With an initial price of $0.10 each, there should be scope for some added value if it is a success.
Opportunities & Risks
Gaming is an area that has attracted a lot of attention lately. It certainly appears to be an area that is ripe for a decentralized approach using Blockchain technology.
With millions of gamers spending time and money on playing every single game, this is a huge market waiting to be exploited. There is no doubt that some gaming ICOs are likely to be highly successful. Will Mfun be one of them?
If we look at the risks, the competitive and fast-moving nature of this industry is a big concern. New innovations and trends can quickly render platforms obsolete.
There is also the risk that other, similar ICOs come along to steal their thunder, or that legal issues make life awkward for Mfun.
ICO SIGNALS :
The prospect of a Blockchain-powered gaming platform has been growing closer for some time now.
There is little doubt that this is a terrific opportunity to revolutionize the gaming industry by rewarding everyone who is involved in it.
This is why there are so many other project around that are similar to this one.
So what makes Mfun likely to succeed in such a competitive marketplace?
The fact that there are focusing on a specific market and have some strong partnerships lined up is a great start.
If we look at the team working on this ICO then we can see a strong group.
However, it does currently seem to be focused more on their potential marketing ability, with a lack on the technical side that are needed to make an ambitious crypto plan come true.
It would also be good to see some sort of comparison showing us how they match up to their competitors and how they expect to beat them.
In summary, this project has a lot of good points but it is still too early to say with complete confidence whether it will truly take off.