Remember Pokémon Go?
The augmented reality game that took the world by storm in 2016 needs no introduction. While many games on the same concept had existed long before the release of Pokémon Go, the way that this iteration popularized the usage of real-world locations into an endless map of in-game exploration opened doors to a whole new genre of gaming.
Several games have since been developed on the same concept, some of which have struck a chord with their target market whereas others have failed to meet the expectations.
However, this mixed reaction to augmented reality is not stopping other developers from delving into this segment to the point where experts from other technology sectors are also exploring it in order to achieve more real-world functions through this amalgamation of virtual and physical activity.
One such project is IZETEX, which aims to revolutionize the online advertising industry through the use of augmented reality games, blockchain technology, and the platform’s native cryptocurrency.
What is IZETEX (IZX) and What Does It Do?
IZX is a blockchain-based platform which allows game developers to integrate sponsored advertisements into their augmented reality maps in an effective manner.
This allows developers to have sufficient revenue by becoming direct publishers of in-game advertisements, provides advertisers with the assurance that their content is being viewed by a certain audience and not by people who would not be interested in it, while also giving viewers the choice to only see advertisements by their own discretion rather than being bombarded by in-game ads at times where they least expect them to make an appearance.
This does not only provide present an effective use case for augmented reality games, but also solves the problems that the online advertisement industry faces at the moment.
Ads which are provided by advertisers and presented on various platforms by publishers are seldom seen by the targeted viewers, who either have their ad blocker ebbing away the ads before they could make their way to them, or get so frustrated at being presented with advertisements that they simply leave the respective platform altogether.
In other cases, the ads are seen and clicked on by the competitors of advertisers or simple bots that are created to waste advertisement revenue, which leaves publishers with no real data to present, advertisers with no gains against the capital they spent, and viewers with no content or services to enjoy just because they did want to witness undesirable ads on their screens.
By integrating advertisements and promotional campaigns into an augmented reality environment, IZX ensures that advertisers are spending their revenue on ads which will be seen by real and interested viewers, publishers – which in this case will be developers – can gather relevant data about user retention towards a presented advertisement, while viewers themselves will take interest in these promotional offers instead of running away from them due to the way participating in these advertisements would incentivize their overall gaming experience.
The ads placed into the augmented reality environment presented by IZX will be backed by its native IZX tokens which will incentivize their collection by ad viewers/game players. By collecting the in-game tokens, participating individuals will be able to exchange the respective tokens through any offer that is being presented by the advertiser.
While a mobile game is the most widely used platform of deployment for such augment and virtual reality games, IZX presents itself as an open platform where its solutions could be integrated by any platform through the usage of smart contracts. The major conditions are for the developed game’s code and structure to be compatible with IZX’s blockchain based solutions.
The product has already gone through extensive test phases with 23 advertisers and is currently ready to be launched in select regions and parts of the world, the most notable and first of which is the Hero Central Park in Kuala Lumpur, Malaysia.
About the IZX Token and Its ICO
While the IZX platform is based on Ethereum and has its native IZX defined as an ERC20 token, its in-game tokens are dubbed as IZX Drive tokens, which are fully customizable and will be completely usable in the aforementioned settings. Developers will be able to create these Drive tokens by utilizing the ERC20 tokens as fuel on the platform.
Since IZX Drive tokens will be created and utilized in-game, the token which is being presented in IZX’s initial coin offering (ICO) is its ERC20 token.
The soft cap for the crowdsale is set at $5 million, while the hard cap is set at $25 million.
Overall, a total of 5 billion IZX tokens are to be created, 50% of which will be allocated towards the crowdsale. A brief list of token allocation is outlined below.
- 50%: Crowdsale
- 30%: Ecosystem Incentives
- 13%: Core Team
- 5%: Advisors
- 2%: Bounties
The crowdsale phase for the IZX ICO will begin on July 18, 2018, and will continue until August 31, 2018. The value of 1 IZX is pegged at $0.01.
The team behind the IZX project seems proficient on paper with its founder and president Aleksey Zagainov having more than a decade’s experience in global technologies, while its co-founder Alexander Gryaznov holds the distinction of conducting the first academic course regarding Ethereum at the Innopolis University.
Whereas, the project’s chief technology officer Alexey Studnev is touted to have extensive experience in software as a service (SaaS) project development and currently runs another blockchain based project by the name of Bloxy, which is an analytical tool for blockchain platforms in order to assess their reliability.
Is IZX a Good Investment Choice?
IZX is an ambitious project with a specific market. Unlike the Basic Attention Token (BAT) or Oyster Pearl (PRL), it does not go after the general population for advertisement reform, which gives it an edge over the competition by carving a niche for itself in a sub-sector of the medium. However, this is a two-edged sword since it can also push IZX back in the race to be the next generation solution for online advertisement.
Therefore, while the project seems promising, it constitutes considerable care by any investor in order for them to know what they are getting into before they set aside their funds for its crowdsale. In any case, everyone should be wary of investing an amount that they cannot afford to lose, and only delve into unpredictable investments with any savings which they can easily do without while waiting on the project to gain significant momentum.