Eon Foundation has raised $5 million for its blockchain game publishing business. In doing so, the Palo Alto, California, and Singapore company hopes to disrupt traditional game publishing through the new technologies of blockchain — a decentralized and immutable ledger — and cryptocurrency.
Eon Foundation has also launched its first game, Crypto Alpaca, to show how its platform works. Cherubic Ventures, Wei Guo (partner of UpHonest Capital) and Feng Li (an early investor in Ripple and Coinbase) led the investment in Eon Foundation.
As a publisher, Eon Foundation will help Bitcoin game developers launch games by creating the Eon protocol, a publicly accessible system of smart contracts (programs running on the blockchain) that can be used to exchange traffic among developers and gamers, so they can find players at less cost.
It will also advise developers on which public chains to use, help developers acquire players on the blockchain, and enable developers to maintain steady revenue in a fluctuating token market.
And Eon Foundation is also building a distribution network, Eon Network, which will allow wider distribution, greater efficiency, and offer support for most currencies, allowing developers to find new audiences.
Eon Foundation said it will give players and developers more ways to profit through a referral system, so players, developers, and influencers can exchange traffic using Eon Foundation’s token, Eon. Game developers on the Eon Network will receive 100 percent of their revenue, paying zero distribution fees, in contrast to platforms like Steam that take 30 percent of the proceeds.
“Our goal is to be the number one blockchain game publisher in the world,” said Aron Lyu, Eon Foundation’s CEO, in a statement. “Common publishing considerations like maximizing profit or finding an audience are totally different on blockchain. We’ve built successful blockchain games, and now, we want to help other developers thrive in this emerging market.”
Eon Foundation has developed the Eon system of smart contracts that can be used to exchange traffic among developers and gamers. It will also help developers easily launch their games on different blockchains (Ethereum, EOS, etc).
Games that integrate Eon Protocol will use Eon Foundation’s token, Eon. The company is also building a decentralized game network, the Eon Network.
Eon Foundation’s first game, Crypto Alpaca, launched earlier this year, and it has 200,000 registered users.
Crypto Alpaca is a decentralized pet-raising simulation game where you can adopt and breed alpacas. While existing crypto games are largely driven by community-assigned value based on personal aesthetic choices, Crypto Alpaca has a fiber-collection mechanic where you earn rewards based on your participation in the game. Unlike other pet simulation games, you can foster your “pet” alpaca to increase its real-world value.
Crypto Alpaca accepts Ethereum and the Eon token. ARCat, an augmented reality pet-raising simulator launched by Eon Foundation’s strategic partner InnoVision, will accept the Eon token as well.
“We see gaming as a big market for blockchain applications,” said M.K. Li, a partner at UpHonest Capital, in a statement. “Eon Foundation has a top-tier team of game veterans and blockchain experts, and I believe in their ability to add great value to the blockchain ecosystem.”
The Eon Foundation also has a team of advisors from Zynga, Facebook, and USC GamePipe Lab. The Eon Network will be launching in early 2019.