What is ALAX (ALX) Crypto Beginner’s Guide
Mobile gaming has become a mainstay in most people’s lives. Nearly everyone now possesses a smart phone or personal computer, and what was once considering a niche hobby is now a market that continues to expand. ALAX is a mobile gaming distribution platform that intends on bringing the gaming market to the blockchain.
One of the problems that ALAX would like to solve is found within emerging markets. According to their whitepaper, 2 billion adults worldwide do not have access to a bank account. However, most of them do have access to smart phones and cash. This causes a disconnect with merchants, as customers are often required to jump through hoops to purchase items and pay exorbitant fees for not doing so through a bank. In a field like gaming, payment intermediaries can inflate these prices which mean more cost to the consumer for money that the developer never receives.
ALAX is bringing solutions to these emerging market issues through the merging of two different technologies.
Dragonfly is a game distribution platform that is directed at the growing gaming community with an interest in the emerging market. It has been in effect since 2006 and growing steadily since then, offering distribution options in areas who don’t have access to common gaming markets like Google Play.
Decent has created an adaptation of the blockchain called DCore. It utilizes Delegated Proof-of-Stake which allows for fast and energy efficient transactions. DCore hopes to change the way digital items are exchanged worldwide and is open-sourced in order to encourage others in the development of their own blockchain ideas.
ALAX will utilize two tokens – ALX and ALA.
The ALA token is the currency of the platform and will be used to purchase games from the distribution platform as well as for in-game purchases. ALA’s value is based on fiat and will not be available in exchanges.
ALX will be the token available on external exchanges and the token used to purchase ALA within the platform. ALX tokens sold at the token launch begin as ERC20, but they will eventually be transferred into a DCore based asset. In order to continue the market demand for ALX, the platform will offer a 20% discount on all ALA purchases made with ALX.
Game developers will be able to request fiat payouts from the platform or receive rewards in the form of ALA.
The mobile gaming market is huge. Just last year, mobile games alone made up for 42% of the revenue within the global market, and as technology becomes more advanced and more affordable, many more people can obtain mobile devices. However, banking and financial institutions have not caught up in many ways to the digital age and some people either choose to not use traditional banking or do not have access to a bank at all. ALAX intends on approaching this market with decentralization to make mobile gaming accessible to those who otherwise would be missing out.