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FEATURE

GAME ON

B

WHERE BLOCKCHAIN MEETS ESPORTS By Keina Chiu

OUNTIE INCORPORATES Blockchain and Cryptocurrency with gaming by tokenizing payouts with Bountie Coins, reducing the chances of fraud and transaction fees. Ever the avid gamer, Bountie Technologies Co-founder and CEO Lex Na hopes to help fellow gamers indulge in the best gaming experience. It is also his conviction to show the world living proof that the combination of career success and a gaming hobby isn’t inherently doomed to fail.

LinkedIn For Gamers

With a bank of gamer’s individual portfolios within the blockchain, Bountie gamers are able to utilize the platform as a Linkedin For Gamers. Unlike current social media sites, the decentralized nature of the technology eliminates the need for gamers to rely on a centralized system to store all their gaming credentials and data.

Bountie Coin Features

Bountie’s Proprietary Matchmaking Algorithms utilizes algorithms to matchmake players with similar skill sets. This stimulates competition and guarantees fair play. Primarily, the top 10 players on each leaderboards will receive additional Bountie winnings. Completing daily quests via the Quest Rewards System is an alternative means to earn Bountie coins as well. Immediate Match Rewards are perfect for players who derive satisfactions through instant gratification. Players make immediate earnings when they win in competitive matches that they pay a small fee to take part. To prevent potential fraud, winnings will remain pending until a match’s legitimacy is verified. The process typically lasts for less than a week until credits are wired to the winners’ accounts.

“Traditional platforms take only credit-card payments where commission rates can go as high as 3.9% in Singapore. For micro transactions below $5, this figure is simply unjustified. With Bountie Coins, transaction costs can be reduced to a negligible amount, making possible for trades to take place swiftly, cheaply, and internationally,” he says.

Future Outlook

“There are 2.2 billion gamers in the world now, which means that every 1 in 4 people is a gamer. According to Newzoo’s market research, the revenue of global games market has just hit US$122.7 billion in 2017. At the current growth rate, the figure is very likely to double in about a decade. We foresee that Esports is going to be as big as the FIFA World Cup or even the Olympic Games,” he says. With a database of thousands of gamers, Bountie anticipates to accumulate 1 million gamers by the end of this year, 30 million by 2020, and 350 million by 2025. Despite the luminous outlook, Bountie is also wary of a foreseeable influx of new competitors that the colossal potential of the budding industry of blockchain and Esports will draw. Other than that, the ever-changing cryptocurrency climate and regulatory practices are also macro factors that Bountie is bracing for. Bountie aspires to create a gaming ecosystem that revolves around gamers, the company, and partners. “Some of our current partners include computer hardware companies like Logitech,

No Shortcut To Success

As cliche as it sounds, there is simply no shortcut to success for those who aspire to make their early startups international and global. “Startups are really hard. If you want to get global, be prepared to work up to 18 hours every single day, 7 days a week, for years,” he says. “And if you’re lucky, you might witness success to some degree by then. Pick your wife wisely, but your Co-founders even more carefully as they are the ones who would be with you, deep in the trenches day in and day out, you’ll need people who have your back and whom you trust wholeheartedly. “Lastly, get a mentor who’s able to see things from the big picture and give you constructive criticisms and advice. Oftentimes, we become myopic from getting too caught up with day-to-day mundanities.”

ABOUT LEX NA Over the past nine years, Lex has established a presence in the e-commerce and digital space as Bountie Co-founder & Chief Executive Officer. His businesses range from O2O shoe stores to a digital agency specialising in web development. He runs a website development agency catering to SMEs in Singapore. Lex’s astute business mind and inclination towards technology led to a natural partnership with Jose, Guan and Darren to develop Bountie. Lex@Bountie.io | Bountie.io

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ASUS, and Samsung, as well as game publishers and developers like Bluehole Studio (PlayerUnknown’s Battleground) and Valve Corporation (Dota 2). Hardware companies can sell their products directly to gamers seamlessly both on and offline via our platform,” he says.

Startup Magazine of Hong Kong: Jumpstart Issue 20 (March/April 2018)  

In this March/April issue of Jumpstart magazine, we've scoured the region to bring together articles about what's being worked on to help im...

Startup Magazine of Hong Kong: Jumpstart Issue 20 (March/April 2018)  

In this March/April issue of Jumpstart magazine, we've scoured the region to bring together articles about what's being worked on to help im...

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