iCandy Interactive Limited (ASX: ICI) presented its pre-sales data report for its first ever block chain game Cryptant Crab on November 13, 2018 i.e. today. Commencement of the pre-sales began on October 25, 2018 and it was done through the Cryptant Crab website. In a span of 10 days from the day of commencement, the block chain game, Cryptant Crab has contributed over USD $50,000 (AUD $69,000).
The initial results from the presales promotional period were far above the expectations set by the ICI management and have laid very strong points towards the future growth potential and revenues for the company. Results above expectations provide a clear signal that the gamers in iCandy’s network are first time or early users of block chain-based games and technology. In initial period of 10 days of pre-sales promotional time, the block chain game, Cryptant Crab has sold more than 1000 virtual crabs at an average price of USD$50 per virtual crab through online platform. Conversion rate remained at high levels from the purchase through website despite the requirement to establish a secured crypto-wallet that is capable of receiving the virtual crab purchased by the clients or the users.
Company will continue with the pre-sales of the block chain game, Cryptant Crab. In order to further increase the sales, the company will continue with the active marketing of the game across its network that comprises of almost 350 million gamers.
The block chain-based game, Cryptant Crab is based on the similar concept and pattern as in Asian past time of raising fighting fish. Just like in Asian past time of raising fighting fish, Cryptant Crab is based on the concept of raising digital crabs that come alive on the blockchain. In compliance with the ERC721 standard, this remains completely a web-based game which completely ensures that cryptocurrency regulations don’t impact it under most jurisdictions.
The company has been awarded with various accolades under the mobile game development field, and it began the development of this block chain game Cryptant Crab after taking the idea from its very popular game, Crab War. The company has utilized for the first time, the Ethereum blockchain platform and has reworked it for its web-based game. Block chain game, Cryptant Crab is certainly one of the major milestones for the company. With the growing demand of the block chain concept and the technology, and its application in mobile game development, the company with its diversified portfolio and already existing 350 million gamers present globally can tap the increasing demand of the block chain-based games.
Highly positive pre-sales data along with strong global network presence that can provide unique and innovative block chain-based technology gaming experience to its huge gamer base, can certainly provide a strong revenue growth in future.
Continuation of the pre-sales along with the addition of new virtual crabs to the network and huge network base to meet the growing demand will support the long-term growth. The scrip which traded at the levels of $0.066 experienced some pressure after making day high of $0.068, and was down 2.9% on November 13, 2018.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.