[UPDATE 16-02-2015 10:50 AM +2 UTC]
Geekkos failed to reach the success condition to their crowdsale (80 BTC). The amount raised (11.20 BTC) it isn’t enough to make their project possible. The refund is already underway as they promised. So this will give us another reason to trust it’s developer, not running with investors funds.
On other note they are preparing a remake of this crowdfund with the help and feedback of their investors hoping for a better performance this time, they admitting they have done a few mistakes that might have influenced this project, PR and organization related. With that said they are ready to start it again and better prepared, they also released a Press Release & Feedback Form to help them understand their investors better.
Press Release & Feedback Form : https://docs.google.com/forms/d/1klHfbkyrvtuS1tWjO8T3uK6uZxD-pRDDVzsyhckmoks/viewform?c=0&w=1
What is Geekkos ?
Geekkos is a project with several great ideas for gaming industry.
The main one is that they (the team) want to reward gamers for playing games they already play and reward investors for participating in the project with several revenue streams. They aim to make it all possible with a line of developments. A crypto currency (also called Geekkos, or by its trading symbol, $GEEK) similar to Bitcoin will be the base of the whole project and distributed through the crowdsale. After that, they will develop a software, a store and a game.
The software is called Proof of Play (PoP) and will be the responsible for rewarding gamers through the crypto currency fund, and is going to be distributed for free. The gamers will receive a number of coins based on the number of hours played and the total of gamers playing on a daily basis. GEEK will be easily exchanged for Bitcoin and currencies like USD and BRL. At first they will integrate recently launched games and other games decided by its community into the software. They will also generate income from ads that will be displayed outside game sessions, without disturbing gamers. This income will help them increase their fund to distribute more coins and also reward the investors since the team will be buying these coins in the open market from them.
The store will sell/exchange digital games and other things for GEEK coins, Bitcoins and other currencies. The game (called Unrekt) will involve the crypto community and famous characters, like Bitcoin’s mysterious creator Satoshi Nakamoto and Doge, within a MOBA style.
You can read more details of how the system will work inside the whitepaper linked below.
Links & Information
Initial coin supply: 10M (10,000,000) distributed via crowdfunding
Algorithm: Scrypt – 100% PoS v2 (Proof of Stake) + PoP (Proof of Play)
PoS: 10% fixed interest annually
Minimum stake age: 2 hours
Block time: 64 seconds