Banking & Finance

New Cryptocurrency for Online Gaming

Date: 31 January 2019; Type: Industry Updates; Source: Bernama

KUALA LUMPUR, Jan 31 (Bernama) - Five Colors Technologies Ltd has announced that new cryptocurrency, Five Colors Coin (FCC), is to become e-sports money and will be listed on CoinBene with the initial exchange offering (IEO) carried out today.  

“In IEO, it is difficult to deceive investors with fraud, and due diligence is done properly, therefore you can use it with confidence,” said a statement from the company today.

Five Colors Group began developing online games in 2012 and will develop an e-sports platform for casual games where all smartphone users can join easily.

The games are the world’s first skill-based games for smartphones certified by Gaming Laboratories International (GLI), a certification body for online gaming software.

FCC is easy to understand and can be used in games, as prize money and exchanged with other cryptocurrencies, the statement added.

To attract more participation not just from professional gamers but the general public, too, Five Colors Group released a casual game "with prize" e-sports platform (beta version) for smartphone users on Jan 30 at the Japan Block Chain Conference.

The coin prize for first place was 1,000,000 yen, second place 500,000 yen and third place 300,000 yen (converted at CoinBene, listed price 200 yen).

The statement added that an official launch is being planned soon, and a larger game tournament with prize money is in the works.

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