Jan 16, 2018, 11:00 ET
CANARY ISLANDS, Jan. 16, 2018 /PRNewswire/ -- Robot Cache is the first decentralized PC video game distribution platform that benefits publishers, developers and gamers. Utilizing blockchain technology, Robot Cache will reduce the fees publishers and developers pay by 80% and allow gamers to resell their digital PC video games. In addition, gamers can opt in to mine digital assets (IRON) that can be applied towards the purchase of games.
"Just a handful of companies dominate the multi-billion dollar digital download PC video games market. Robot Cache plans to revolutionize the industry by launching the first-ever workable decentralized video game marketplace that benefits both the creators of video games and gamers. All of this is accomplished by expertly leveraging the power, flexibility, safety, and transparency of blockchain technology," said Lee Jacobson, CEO, Robot Cache.
Robot Cache is a victory for digital PC gamers and the publishers who create games. The Robot Cache platform is created by industry veterans who understand the dynamics of what is needed to be successful and have the relationships necessary to bring the right partners to the table. Best of all, Robot Cache will be a full featured and live platform when gamers first come to it. Robot Cache expects to offer the latest and greatest video games on the Robot Cache platform for gamers' immediate enjoyment.
DEVELOPERS AND PUBLISHERS BENEFIT
Developers and publishers benefit from the lowest transaction fees of any digital PC video game distribution platform. Everyone from the smallest indie team to the biggest publishers, will retain up to 95% of the sales proceeds, which is 25% higher than the current industry standard. In addition, Robot Cache's revolutionary digital resale market allows developers and publishers to set resale pricing and earn 70% of the resale proceeds. Additionally, game makers will be able to control the parameters of resales, receive payment in minutes (not months), maintain secure ownership rights (due to decentralized blockchain management), and have a full suite of sales and marketing tools at their disposal.
"Earning any money on the video game resale market is unheard of for game publishers, and earning up to 70%, which is equivalent to the best margins publishers and developers currently receive on today's most popular digital distributions platforms is crazy. Allowing creators to keep 95% of new game sales, and 70% on game resales, provides developers, like us at inXile, with a strong financial stream. This gives us more resources to create new content and new IPs for fans," said Brian Fargo, CEO of inXile Entertainment and Founder of Robot Cache.
Gamers greatly benefit from Robot Cache's unique distribution approach. Previously, gamers could only resell physical retail copies of a video game, but now they can resell digital games purchased on the Robot Cache platform using the blockchain and retain 25% of the proceeds from the resale. Selling their digital games earn them digital tokens, named IRON, Robot Cache's cryptocurrency, which they can use toward the purchase of another game on the Robot Cache platform. In addition, gamers can opt-in within the Robot Cache client to mine IRON which they can then use to buy games on the platform. Robot Cache has also created an IRON reward program to incentivize gamers to use the platform. When various individual or community milestones are reached, Robot Cache will reward additional IRON to the gamers using the platform.
TOKEN GENERATION EVENT
Robot Cache will be creating IRON based on the ERC-20 standard. Robot Cache will sell and issue Simple Agreements for Future Tokens (SAFTs), which will convert into IRON upon launch of the platform which will take place in Q2, 2018. SAFTs are expected to begin being offered in an Institutional Pre-sale on January 17, 2018, and SAFTs are expected to begin being offered in an Accredited Public Pre-sale on February 15, 2018. Robot Cache will look to raise a minimum of $15M USD in a token generation event to be used to obtain exclusive content, develop partnerships and the digital PC video game distribution platform, and for sales, marketing, general, administrative, legal and accounting purposes. The solicitation, offer, and sale of SAFTs will be conducted in a manner that is compliant with applicable securities laws and regulations, including Rule 506(c) of Regulation D. Only verified accredited investors will be eligible to purchase SAFTs.
For more information and to sign up for product updates, please visit www.robotcache.com.
ABOUT ROBOT CACHE
Robot Cache is the first ever decentralized PC video game distribution platform with a revolutionary digital resale model utilizing the blockchain. Robot Cache allows publishers to keep significantly more revenues than other distribution platforms and gives gamers, for the first time ever, the ability to re-sell their digital games. Founded by video game legend Brian Fargo, Robot Cache is led by video game luminaries such as Lee Jacobson (CEO), Mark Caldwell (CTO) and Philippe Erwin (VP of Business Development). Robot Cache's advisory board includes a mix of video game and blockchain experts: Anna Sweet, Nolan Bushnell, Michael Maloney, Chris Keenan, Gordon Einstein, Scott Walker and Keven Baxter. For more information, please visit www.robotcache.com or follow @RobotCache at Twitter or RobotCache on Facebook.
FORWARD LOOKING STATEMENTS
Certain information set forth in this press release contains "forward-looking information" under applicable securities laws. Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, (i) the completion of, and the use of proceeds from, the sale of SAFTs; (ii) the expected development of Robot Cache's business, projects, and strategic partnerships; (iii) the execution of Robot Cache's vision and growth strategy, including with respect to future global growth; (iv) the sources and availability of third-party financing for Robot Cache's projects; (v) the completion of Robot Cache's projects that are currently underway, in development or otherwise under consideration; (vi) Robot Cache's ability to launch a fully-functional platform, which includes the related creation and issuance of IRON; (vii) renewal of Robot Cache's current customer, supplier, and other material agreements; and (viii) Robot Cache's future liquidity and capital requirements. Forward-looking statements are provided to allow potential purchasers of SAFTs the opportunity to understand management's beliefs and opinions in respect of the future. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this press release are based upon what management believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Robot Cache undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
This press release is for informational purposes only and does not constitute an offer or solicitation to sell securities. Any such offer or solicitation will be made only by means that are in compliance with applicable securities and other laws, including Rule 506(c) of Regulation D under the United States Securities Act of 1933, as amended. No information or opinions presented herein are intended to form the basis for any purchase decision, and no specific recommendations are intended. Accordingly this press release does not constitute investment advice or counsel or solicitation for investment in any security. This press release does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. Robot Cache expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in this press release, (ii) any error, omission or inaccuracy in any such information, and (iii) any action resulting therefrom.
SOURCE Robot Cache
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