Reality Gaming Group, publisher of the world’s first mobile augmented reality (‘AR’) combat game Reality Clash, is embarking on a £1.5m million funding round via a ground-breaking Security Token Offering (STO), as well as traditional equity investment.
Reality Gaming Group will use the funds to accelerate the development of its flagship mobile game Reality Clash, an action-packed multiplayer shooter that combines a mobile AR platform and in-game digital asset trading marketplace using blockchain technology.
Tony Pearce, Co-Founder of Reality Gaming Group, said: “Reality Clash has proven to be a hit game with real resonance – think Pokémon Go meets Call Of Duty, with tradable player-owned assets. We’re tremendously excited to be embarking on the next phase of Reality Gaming Group’s growth. As one of the first games companies to have raised money via an ICO in 2017 and successfully delivered a blockchain based game, as outlined in our original white paper, it’s great to offer investors another pioneering way to invest via a Security Token Offering.”
In addition to supporting the development of Reality Clash, the funds raised will also be used to build new games based on the same AR and blockchain platforms, creating an ecosystem in which the tokenised in-game assets can be used.
Reality Gaming Group has teamed up with TokenMarket to launch the STO – a new, digital type of equity share offering that offers investors the same rights as ordinary shares. Ownership of the share is recorded on the blockchain, with an STO holder able to sell on their investment at any time.
Since its inception TokenMarket has helped raise hundreds of millions of pounds for startups, enabling them to transform from single digit employee firms to hundred million-dollar enterprises.
Reality Gaming Group has also announced its intention to license its twin technology platforms for use by third party developers, so they can create their own virtual worlds and blockchain-based de-centralised in-game economies:-
- The DAT Platform (Digital Asset Trading) Platform: An open-sourced blockchain toolkit that enables developers and game companies to create ‘tokenised assets’, or truly-owned in-game items such as skins, weapons, apparel and more for third party games. These items can be used across multiple games, they can be sold to friends or traded on peer-to-peer marketplaces.
- The Reality Platform: Will enable licensees to accelerate development of Augmented Reality & geo-location-enabled games for iOS and Android mobile devices. The platform also includes a pioneering Ad serving tool, allowing brands to target ads based on player locations on the map.
Ransu Solavarra, CEO of TokenMarket, said: “With the addition of 40,000 users on the Reality Clash app we have seen the company’s growth skyrocket and we are pleased to be supporting the next stage of development by offering this opportunity to our users.”
Reality Gaming Group recently joined the Blockchain Game Alliance (BGA), with board members including Ubisoft, Enjin, Ultra, Consensys, Alto.io, EverdreamSoft, Gimbl and B2Expand.