Blockchain China gaming company Cocos has successfully raised $40 million from global investors including big names like Binance Labs, and NEO Global Capital for developing a new platform named Cocos-BCX. Around 500 startups have also contributed to the fund-raising activity. It is created by the Beijing-based team and credited for developing hit mobile games such as Badlands, Clash of Kings and the ever-so-popular Angry Birds. The platform dedicated to massive open-source game development believes that the blockchain technology is just perfect for developing games.
With the help of this new capital, the company will accelerate the development speed of a new gaming platform that is based on blockchain technology. According to the Co-founder of Cocos, Richard Yang, every game has an economy and both developers and players are allowed to validate scarcity by blockchain. Yang further added that businesses and gaming platforms can use this evolving blockchain technology for managing supply and ownership of virtual resources that the players collect while they are playing. These resources include weapons, coins, cards, and even rare items.
The blockchain China Company posted that the technology will contribute to the creation of a transparent community and deepen the bonding between the gamers and the developers. Cocos believes that it is possible because the source code on the platform of blockchain is easily visible, and hence, the public can verify it. According to Forbes, the upcoming blockchain-based game will feature a development environment, a blockchain technology-inspired game engine, and CocosChain.
Incidentally, the main aim of the company is to come up with a one-stop-platform for building, releasing and maintaining games across the diverse blockchain systems. The CocosChain has been designed specifically for games and to ensure high-transaction and high-performance applications, says ETHNews. The Cocos-BCX blockchain platform’s tokens will be served as a medium of exchange as well as compatible to ERC-20.
The blockchain China enterprise started the development of a new platform in November last year and tested its first demo version in March 2018. As per reports, the full testnet version will release in the last quarter of this year.
The post Blockchain China Gaming Company Cocos-BCX Raises $40 Millions From Global Investors appeared first on OWLT Market.
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