Blockchain Revolutionizes Game Industry: Virt-U Launches Ico and First Cashout Platform For Gamers

  LONDON, UK - 10/30/2017 (PRESS RELEASE JET)

Virt-U, the first blockchain-based economic platform for virtual worlds to exchange gaming assets for crypto currencies, is launching its early adopters stage (i.e. early funds) Initial Coin Offering (ICO) on Nov. 14, 2017.

Virt-U uses blockchain technology to revolutionize the lives of billions of gamers. With 2.2 billion gamers already, digital gaming industry growth is expected to hit $104 billion by the end of 2018, and the number of players is growing at an exponential rate. And this is without the blockchain. Blockchain is a distributed ledger system, which enables creation of crypto currencies, as well as tokens. Virt-U is launching its new blockchain platform where game players and developers will be able to register and track their assets, trade, transfer and cash them out.

Virt-U provides the platform that would financially empower game developers. Gamers, for the first time, will be able to transfer their game activity into real world financial gains on a secure and trusted platform.

“We believe that owning virtual assets is the first step towards monetizing them,” said Daniel Doll-Steinberg, Virt-U co-founder. “We are looking forward towards enabling virtual world developers and billions of gamers to make money from doing what they love.”

With tokens an intrinsic part of the platform, Virt-U’s Network token (VRT) will be required to perform all transactions on the Virt-U Network such as registering, listing or selling an asset. Network transaction fees are used to fund development, promotion and maintenance of the network. VRTs are used for identity of participants such as game developers and creators. VRTs power the Network, including the Alpha release.

“Using virtual reality to augment real-life experiences, especially in the gaming industry, is a powerful resource and something that Virt-U founders have exceptionally leveraged for the opportunity to make money for the investors,” said David Drake, of his family office LDJ Capital. “The fiduciary responsibility is clearly outlined by the leadership and I'm trusting their future with my money.”

VRTs will be implemented as a token on Ethereum (ERC20 token standard).

Contact: Max Smetannikov, Irina Nazarova, MVG for Virt-U, +1 646 205 7030, info(at)mvgmain(dot)com

About Virt-U

Based in London, U.K., Virt-U operates around the world. Ethereum is the platform of choice for Virt-U’s platform because it offers a platform with a large technology ecosystem, and it guarantees immense transparency among users. The Virt-U team and advisors includes some of the leading names in asset management global platforms, games and blockchain. For more information about Virt-U’s upcoming ICO please visit virt-u.io.