According to an announcement on the company’s website, Japanese Internet Service Provider (ISP) GMO Internet is looking to incentivize online gaming and the spread of cryptocurrency adoption. The company, which offers a variety of consumer services including cryptocurrency trading, says that its new “CryptoChips by GMO” cryptocurrency will allow for advanced distribution of digital currency through game playing.
The token allows players to receive cryptocurrency for use as “secret pocket money.” The amount received by a user is based on his or her rankings within a particular game, as well as on the acquisition of certain items or completion of missions. In order to receive the crypto, the users must have their own cryptocurrency wallet. CryptoChips will only support Bitcoin (BTC) at first.
The first initiative for the project will launch in August through the ISP’s “Whimsical War” game. The game is a real-time battle strategy game where winning is contingent on the proper placement of characters on the battlefield. Individual players can team up with others, if desired, to engage in “tag team” combat in order to win. Players will receive BTC based on their rankings.
GMO Internet Group has been offering cryptocurrency trading and cryptocurrency foreign exchange service since May of last year. Last December, it announced that it had begun a cryptocurrency mining operation in “northern Europe.” The exact location was kept secret, but the company said that the location was chosen due to the high amount of renewable energy found in the area.
Three months ago, the company provided details on a two-year rental contract that would make its cloud mining operations available to miners. The contract is worth $5 million, which would be used to pay for electricity, equipment maintenance, land use and security. The mining operation is targeting Bitcoin Cash and BTC, and will be open to eight contracts a month.
GMO has embraced cryptocurrency more than virtually any other company. Apart from the other ventures, since February of last year, the company, through its GMO Clock foreign exchange (forex) brokerage, has offered forex services through its BTC wallet, GMO Wallet. Four years ago, it was an early adopter of BTC when it announced that it would provide BTC acceptance at all of its 48,532 Japanese merchants.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.