REEF

It took more than 35 years for the global games business to grow to $35 billion in 2007, the year that the iPhone was introduced. Since then, the games market has added an extra $100 billion in revenues to arrive at this year’s total of $137.9 billion worldwide. The uptake of smartphones has been a key contributor to the accelerated growth of the games market, in terms of both engagement and revenues, but is only one of the many factors that have brought us to where we are today.
The way games are run has changed completely in only 10 years, from both an organizational and a business perspective, regardless of platform. Add to that the ongoing global alignment of distribution channels, franchises, and business models and it becomes clear that this is more than several individual trends happening simultaneously. Ultimately, the consumer has determined the pace of change. No other form of entertainment or media gives as much power to the consumer as games. Today, not only do games empower people to actively participate, but allow them to enjoy their passion for gaming in ways that suit any mood, interest, lifestyle, location, and budget. The viewing experience is part of games’ DNA. Almost any new game includes competitive modes that could lead to a professional esports scene, including live events, pro-gamer heroes, and teams with millions of fans.
The global games industry has reinvented itself to maximize consumer engagement and revenue growth on a global scale. It is time to do away with old terminology and re-examine how we segment consumers based on the wide variety of game behavior and preferences.
Gaming has evolved into an all-around entertainment phenomenon. If you add up all playing and viewing hours, gaming is the world’s favorite pastime. Buying and owning physical products that are specifically developed for gaming adds to the possibilities for consumers to enjoy their passion for games. How a person divides his or her time and/or money over playing, viewing, and owning differs greatly. An additional overlying dimension is how actively people share or engage with gaming content and discussions on social networks and other (online) communities.
Gaming is fun however Reef believes the majority of gaming platforms today look to exploit that but their intentions are different. Reef wants to create a platform which is not only fun, but also gives gamers the opportunity to get paid whilst they play. The more you play the more you earn. This concept forms the cornerstone of Squid Networks’ business plan.
Squid Networks Ltd is a technology company who aim to create a decentralised gaming platform called Reef by launching an initial coin offering (ICO). Reef will allow both gamers and developers to earn currency within the platform. We believe Squid Networks has the power to disrupt the £70 billion gaming industry by utilising blockchain technology and open the possibility for gamers and developers to earn Squid Tokens and profit from playing games.
Reef will greatly increase the number of gamers worldwide that can earn whilst gaming by creating a decentralised gaming platform which will reward users with utility tokens (called SQUID tokens) for participation in the platform; Gamers will get paid to play and developers will earn a small percentage of tokens in the process as gamers play their games.
This will be made possible through the unique Proof of Gaming (PoG) algorithm which will allocate tokens automatically to the gamers and developers.. The algorithm will allow for regular, consistent and secure payments direct to the user which is currently not found anywhere else in the gaming industry on this scale.
Reef will allow gamers to have the opportunity to directly interact with the game developers of the games they play on Reef. Reef will create the first meaningful review system which will use gamers rankings and in-game statistics to allow developers to differentiate between helpful and unhelpful reviews. This will ensure that gamers feel their opinions count and help developers improve their games.
Reef aims to bridge the gap between gamers and developers and allow gamers to get paid to play. They strive to allow gamers to have a direct impact on the games they chose to play through community voting whilst giving developers the chance to showcase their developments. They also want to break down the existing barriers to entry within the market and create more opportunity to interact with the community. Finally Reef want to increase the amount of gamers that can get paid for doing something they love, they aim to achieve this by introducing the native SQUID token.

Features of the Platform

  • Community Driven - Unlike other gaming platforms which limits the power of gamers, Reef intends to provide gamers with opportunities to control the platform. An example of this is the SquidProval feature, gamers will be able to vote for games to enter Reef platform. Gamers will also have dedicated space within the Squid Networks forums where they can interact with the rest of the community, directly contact game developers and share feedback.
  • Get paid to play - No other gaming platform today works like Reef will. Through the unique Proof of Gaming (PoG) algorithm, gamers will be able to earn SQUID Tokens by simply playing the games they enjoy the most. The PoG algorithm will automatically send 97% of tokens earned to the gamers wallet, and the remaining 3% to the corresponding developer.
  • Ethereum Blockchain Technology- ThIs revolutionary technology is used to store data and facilitate the transactions between the PoG algorithm and the user.

How the Platform works

The platform functions firstly by game developers advertising their game to SquidProval, where it is judged by the community. If the game is voted into the platform, the developer must integrate their game with the Reef API to allow for themselves and gamers to be rewarded for playing their game. Gamers will then be able to earn SQUID tokens whilst playing the game on Reef and all rewards will be sent to their Reef Wallet which is linked to the Ethereum blockchain.

Advantages of the Platform

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Why choose Reef?

Reef will:
  • be open to all genres within the gaming market
  • create a decentralized platform for all gamers
  • utilize blockchain technologies
  • offer many features including a combination of early access, F2P and P2P games
  • allow P2P games and in-app transactions to be purchasable with the native SQUID Token
  • be a community driven platform connecting gamers and developers
  • allow both gamers and developers to help maintain the platform
  • have a customisable platform interface for both gamers and developers

Benefits

  1. As the platform will utilize the blockchain technology there will be heightened transparency between developers and gamers. Statistics and transactions are public, creating more trust and ultimately a more coherent market.
  2. Squid Tokens earned by gamers and developers will be exchangeable for other cryptocurrencies and fiat currency. This will be possible by listing our coin on exchange websites.
  3. Once Reef is at a suitable stage of development, the gamers and developers will play an increasing role in the up keep of the system. Ultimately moving towards becoming a fully decentralized platform unlike anything in existence today.
  4. Reef will have enhanced accessibility, the platform will have a user-friendly interface for both gamers and developers. Features such as tailored views and statistics will ensure users maximise their experience whilst using the platform.

The SQUID Token

The Squid Token is an ERC-20 token. Squid Tokens have been designed for use within the Reef platform; SQUID is the reward earned by gamers for spending time gaming on the Reef platform. This reward is automatically calculated by our Proof of Gaming (PoG) algorithm, which operates within the platform itself. This algorithm will also allocate 3% of the tokens earned by gamers, to the corresponding game developer(s). Squid Tokens use-case is based around gaming within the Reef platform.

Token Details

  • TICKER: SQUID
  • PLATFORM: ERC20
  • COUNTRY: United Kingdom
  • ACCEPTING - ETH
  • PRICE: 1 SQUID = £0.30
  • SOFT CAP: 22,750 ETH
  • HARD CAP: 77,697 ETH
  • TOTAL TOKENS: 9,125,000,000
  • AVAILABLE FOR SALE: 1%
  • KYC REQUIRED: Yes
  • WHITELIST: 17 JUN 2019 - 24 JUN 2019
  • PRE SALE: 17 SEP 2019 - 24 SEP 2019 (0.1125 GBP = 1.0 SQUID)
  • PUBLIC SALE: 17 DEC 2019 - 17 DEC 2019 (0.1425 GBP = 1.0 SQUID)

Token Distribution

Road Map

Q1 2017
  • Idea of Squid Networks conceived
  • Market research into the gaming industry, other gaming platforms and the blockchain
Q2 2017
  • Start up capital raised for initial costs such as whitepaper translation, SSL badge website hosting, advertising, and video creation
Q3 2017
  • Development of token and token sale smart contracts began on the Ropsten test network
  • Research conducted into market & concepts are tested. Findings recorded in a draft whitepaper
Q4 2017
  • Website development
Q1 2018
  • Website published along with development of white paper version 1.0
  • SQUID NETWORKS LTD. is officially incorporated via companies house
Q2 2018
  • Development of the smart contract for SQUID token and integrated onto the Ethereum blockchain
  • Team expansion to meet the growing needs of the business
Q3 2018
  • Full Legal compliance ensured including GDPR
  • Development of the marketing plan
Q4 2018
  • Prototype of the platform developed
  • Expansion of game partnerships for the Reef
Q1 2019
  • White paper v2.0 released
  • Market campaign commences
  • Private sale details will be sent out to all registered users
Q2 2019
  • Private sale commences
  • Development of the Reef platform commences
Q3 2019
  • Pre-sale commences
  • Further expansion of the team
  • Mobile development begins
Q4 2019
  • Public sale commences
Q1 2020
  • Beta-testing phase and feedback gathering before the public release of the network
Q2 2020
  • Reef will be fully developed. The platform will be open to everyone and the PoG algorithm will come into full effect

Team

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AUTHOR : Nyosop

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