It was only a matter of time until things took another turn in the world of cryptocurrency. We have seen so many connections already between blockchain technology and Pokemon-like projects. Indeed, we now have a project called CryptoPokemons. It’s not necessarily the best idea, considering that Pokemon itself is a major brand and registered trademark.
CryptoPokemons is a Thing now
Given the success of CryptoKitties and similar projects over the past few months, it has become evident that there will be a lot more of these platforms in the future. We have already seen tanks, dancing pandas, and cars use the same business model. To the trained eye, there is a clear connection to Pokemon.
Keeping all of that in mind, it is not entirely surprising to see a project such as CryptoPokemons come to market. This blockchain-based game works incredibly similarly to CryptoKitties and other projects, with a strong focus on one-of-a-kind Pokemon. The objective is to collect them all, although there is no real catching involved. Rest assured there will be some interest in this project, even though it remains to be seen how successful it will be.
In using Ethereum smart contracts, the project uses the same technology as all other similar projects which came before it. The main reason for using this technology is that it allows for automating most of the creation process, as well as the trading of Pokemon and the exchange of value.
With every Pokemon being unique, it is good to see the team focus on how the real Pokemon game works. Every creature is connected to its own contract, which players can purchase with Ethereum. If someone wants to obtain a Pokemon owned by someone else, they can pay more for its contract. This approach has been utilized by similar projects in the past.
As one would expect, there is a gamification aspect to all this as well. More specifically, there are four tiers of levels for each Pokemon. As more transactions occur involving an individual Pokemon, its actual value goes up. As such, early buyers can turn a creature worth 0.01 ETH into 1 ETH and more over time. It is evident this business model will attract a lot of attention from potential investors.
The big question is how successful this venture can be. Importantly, the Pokemon brand is trademarked, and using it without the parent company’s approval will be problematic in the long run. Since the project also uses the original Pokemon artwork, they may find themselves in legal trouble. If so, all CryptoPokemon investors may find themselves in the hot seat as well.