All Things Alt: Sync's Stability Bid, an Ivy League Alt and a Coin for World Domination
In this week's roundup: SYNC adds more services to its network while a block chain-based strategy game takes shape.
There are plenty of fresh faces and seasoned coin networks taking the altcoin world by storm these days, offering plenty of excitement (both the good and the bad kind) for those involved. Between the market fluctuations, of course, are the interesting and, at times, one-of-a-kind threads that make the alt scene what it is.
For just a taste of what’s happening around the community (as there’s never enough time to cover it all), read on to see some of the dynamics shaping alternative cryptocurrencies today.
Ironbankcoin seeks to build blockchain-based strategy game
An altcoin is looking to establish what it calls a “24/7 global game of Risk”, with the block chain serving as the basis for player action during the game.
Ironbankcoin is partnering with Blockchain Technology Group, a cryptocurrency technology firm that specializes in designing and managing digital currencies. Blocktech will manage the ironbankcoin network while the development team for the game handle the design and implementation of the game platform.
According to the alt’s official Bitcoin Talk post, ironbankcoin will function as an ownership token for the game – the more IBC you hold, the more land you own. Yet, because the alt will be traded and exchanged in active markets, the value of that “land” is very much at play. Finally, the coin will function as an in-game currency as well.
The development team noted on Bitcoin Talk:
The comments above imply that the game will require cooperation and intrigue between players. While the announcement did not contain specific details about the nature of the gaming platform, the development team told CoinDesk that it will focus on kingdom management, diplomacy and economic management.
Ironbankcoin is currently holding an initial coin offering (ICO), offering 50 percent of the coin’s 100 million coin supply during a seven-day pre-launch sale. According to the development team, coins will be distributed on a proportional basis depending on the amount of BTC received during the sale.
SYNC expands asset list, launches new wallet
SYNC is a curious entry in the lexicon of alternative cryptocurrencies, building its value proposition on a membership structure that offers several levels of potential return for investors.
Several weeks ago the SYNC community made waves in the markets when it announced SYNC Assets, a portfolio of digital assets that includes domain names and prominent cryptocurrencies.
For those who meet the requirements, proceeds from asset sales are distributed proportionally to eligible members.
Since the SYNC Assets launch, the team has built the list of domain names it controls and has continued to push value-added features such as airline miles and discounts exclusively for SYNC holders.
CoinDesk spoke with SYNC Foundation co-founder Mike Fiol, who said that the fundamental purpose of SYNC is to give individuals an entry point into crypto-investment with a vehicle that seeks greater stability compared to other available coins.
Fiol explained that beyond that, the goal of the project is to give investors a way to avoid some of the problems associated with altcoin markets, including projects that turn out to be fraudulent in nature.
One of the projects under development is the creation of a mobile app that will allow SYNC owners to tap a range of discounts and consumer benefits. According to Fiol, the app will enable SYNC investors to find businesses nearby that offer these benefits. Notably, inclusion in the membership program requires owning at least one SYNC, which at press time costs an average of 1.2 BTC across all exchanges.
Fiol summed it up:
Two percent of proceeds from the Foundation’s asset and coin sales are directed to a program called SYNC Kids. This initiative devotes funds to the Spenser Somers Foundation, a non-profit organization which sponsors a Ronald McDonald House children's charity center in Minneapolis.
Looking ahead, the SYNC team recently released a new wallet and is looking to continue expanding on its existing services. Fiol hinted at upcoming releases that will expand the scope of usability for SYNC.
Educational initiative for altcoin trading takes shape
The altcoin world owes much of its existence to the diverse community of investors, traders and Twitter pundits fueling speculation and exchange in the marketplaces. While some bring years of experience in traditional financial and asset markets to the crypto realm, there are others who enter the environment with little idea of where to begin.
, a new altcoin initiative, aims to provide a vehicle for novice investors to gain insights into the nature of buying, selling and trading.
CoinDesk spoke with the ivyleaguecoin organizer, who said that the goal is to provide a platform for people to gain perspective on the various aspects of trading on a level that is comfortable for them. The planned courses will be structured in several tiers and include resource documents, live webinars and one-on-one instruction.
No pricing information is yet available, but an ICO is planned that could raise as much as 2 BTC to pay for platform development and instructor compensation. The organizer told CoinDesk that participation in the tiers will require varied pay scales, saying:
The team behind ivyleaguecoin has yet to reveal an initial launch date, but with a planned two week-long ICO period, the program may not go live until next month at the earliest.
Strange alt of the week
Here on All Things Alt, we’ve covered our fair share of bizarrely branded coins. For better or for worse, some development teams choose potentially copyright-protected properties and attempt to build cryptocurrency network.
continues this proud tradition by using popular characters from the DreamWorks Animation film series Madagascar, including the character “King Coolian” who is embossed on the coin’s official logo. The film collection focuses on a group of animals who find themselves thrown into wacky adventures around the globe, and the broader franchise itself has generated hundreds of millions of dollars in global revenue.
For this appraoch, lemurcoin has won this week’s Strange Alt of the Week award.
As an altcoin itself, lemurcoin is pitched as a low-supply investment opportunity tied to, according to its official Bitcoin Talk post, the number of lemurs alive in the world.
The post reads:
The development team has a number of proposed initiatives in mind, most notably a Madagascar-focused airdrop. The announcement post explores the question of whether or not the currency could act as a so-called country coin like auroracoin, saying:
The coin is expected to fully launch on 17th August. CoinDesk reached out to DreamWorks for comment but did not receive an immediate response.
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