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Crypto Collectibles Site Plans to Invite Developers to Create New Games, Polls and Content

A blockchain-based platform where crypto enthusiasts can own digital collectibles inspired by public figures is planning to open up its ecosystem to developers — in the hope that new games and competitions will be added to its burgeoning marketplace.

MyCryptons launched in May 2018. The company has been developing its social media presence, and more than 2,000 tweets have been sent from its official Twitter account over recent months. These posts have often reflected topical events in the news, primarily the tumultuous state of politics in the United States.

On its website, enthusiasts are given the chance to buy Cryptons. Each represents a fictitious version of public figures, including politicians, presidents past and present, talk show hosts and musicians. They come with a custom-made cartoon, and the owner is also able to add their own witty tagline and share it on social media. Some examples include Queen Elizabeth (“Jewel in the Crown”), Eric Trump (“Don’t blame me. I was cloned”) and Donald Trump (“I am just tired of winning”).

When it comes to developing interactive content, MyCryptons also hopes to offer polls and engaging activities to its user base. Its Mating Game saw two politicians mated with celebrities, resulting in brand-new Cryptons that were an amalgamation of each pair. A portion of the proceeds of the sale of the new “offspring” Cryptons goes to the owners of the parent collectibles. Users can request particular pairs to be mated by emailing the company, but MyCryptons intends to automate this process shortly.

MyCryptons has also launched the Angry Mobs game, where users can create memes by drawing on any Crypton using an array of tools. Memes can be used to both jeer and revere someone or something, and the platform hopes its base will find this activity both fun and meaningful. It is currently free for users, but MyCryptons intends to monetize this in future and share the revenue with the owners of the Cryptons involved in the memes, potentially making these collectibles more valuable. For example, if a politician is going to jail, users can use the pen tool to draw bars on the Crypton and the text tool to write “Guilty” before downloading the image. Other fun symbols can also be added, such as a kiss, rose, dollar symbol, mustache and sunglasses — all of which can be resized and rotated.

Other games, including Flip and Flop and Truth or Dare, are under development. In all cases, the company intends to share revenue generated through these games and activities with the owners of the Cryptons featured in a starring role.

How buying a Crypton works

The price of every Crypton is clearly indicated on the website, and some of them are yet to be purchased for the first time. Once someone possesses a collectible, they can be bought out at any time, by use of a price escalation feature — and they will receive up to double the price they paid. An owner can prevent their Cryptons from being lost by paying a one-time protection fee and setting their own price.

According to MyCryptons, one of the most compelling opportunities presented by its platform is the potential to buy digital collectibles before they become popular. Though a prospective U.S. presidential candidate for the 2020 election may not be coveted right now, demand could intensify as the campaign nears.

MyCryptons is also exploring the potential for its digital collectibles to be used for charitable purposes. The smart contract being used by the platform enables special fundraiser Cryptons to be created, with all proceeds from the sale of a collectible going to a good cause instead. Once a certain target is reached — 200 ETH, for example — the Crypton reverts back to a for-profit collectible. According to the company, active discussions are already under way with a female crypto celebrity, with a Crypton in her image being prepared as the last few details are finalized.

A distinctive type of token

MyCryptons uses a non-fungible token known as ERC-721. Each of them carries unique information and they cannot be divided, meaning it’s impossible to buy half a Barack Obama or end up with two Donald Trumps. It’s this scarcity which enables the marketplace to function.

Demand for virtual collectible games is growing. As reported by Cointelegraph, another concept known as CryptoKitties recently secured $12 million in funding from a group of investors. Last year, it was reported that five of the digital kittens on this platform sold for more than $100,000, with the most expensive fetching $120,000.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Lufthansa, SAP Competition Seeks Ideas for Blockchain in Aviation

Major airline Lufthansa has partnered with software giant SAP to launch a blockchain competition aimed to boost blockchain adoption in the airline industry.

Announced Friday, the Aviation Blockchain Challenge seeks “groundbreaking ideas” for blockchain applications that can advance the airline industry and lead on to pilot programs assisted by Lufthansa and SAP.

The initiative comes as a response to the limited efforts being made currently to explore potential use cases for blockchain in the aviation industry, the two firms said in the announcement.

“While many industries have found their first use cases, the impact on the aviation sector is not noticeable yet. We want to change that together with SAP and see substantial potential in our industry to utilize blockchain and other plays of decentralized networks,” Lufthansa said.

Specifically, the competition is looking for concepts for blockchain applications in three major areas: flight booking/purchasing and loyalty programs; internal data processing; and supply chain use cases involving third party suppliers.

Blockchain startups whose ideas are eventually selected will potentially be able to advance to pilot projects and launches of minimum viable products using SAP’s blockchain-as-a-service platform, launched in June.

With an initial submission deadline of the end of August, Lufthansa said the final pitches for the best ideas will take place in Germany in October later this year.

Lufthansa has been exploring how to put reservations and traveler itinerary information on a distributed network through a partnership with an ethereum blockchain startup since October 2017.

Lufthansa image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Singapore Launches Blockchain Challenge with Funding Prizes

Singapore’s government is launching a challenge that will reward successful blockchain projects with funding.

In an announcement Thursday, Singapore’s Infocomm Media Development Authority (IMDA) said the challenge aims to boost blockchain innovation as part of a wider goal of the digital transformation in the city state.

According to the fact sheet for the challenge, the bureau is specifically targeting two categories of blockchain applications: “enterprise” and “transformation.”

The agency further explains that it is looking for distributed ledge technology that can either streamline business operations or that more broadly envisions changes in social interactions, such as within public services.

The IMDA said participants that are shortlisted will have six months to develop either a minimum viable product or proof-of-concept. Winning projects will receive S$50,000 (US$38,000) for the enterprise section or S$100,000 (US$76,000) for the transformation category.

Philip Heah, senior director of sectoral transformation at the IMDA, commented:

“To ensure every business is a digital business, Singapore’s Digital Economy requires technologies which can accelerate sector transformation. Through the IMDA Blockchain Challenge, we will drive awareness and spur development and adoption of this promising technology throughout our economy, including non-fintech segments.”

Separately, the IMDA is also calling for broader industry collaboration with blockchain startups focusing on identification-related solutions or any more general project that is interested in working with the agency on blockchain development.

The challenge is being launched at a time when Singapore has repeatedly been voicing support for moves to adopt the technology.

As previously reported, the Monetary Authority of Singapore, the city-state’s de facto central bank, is already working on a cross-border remittance solution based on blockchain – called Project Ubin – through partnership with the Bank of Canada.

Singapore image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.