DenCity (DNX) ICO Review – ICO Token News
Dencity offers a virtual platform where people can become who they always wanted to be. The blockchain-enabled platform lets users define their lifestyle and rules. Additionally, one can sell goods and services within the ecosystem and earn DNX tokens. Similar to ABT, CRYCASH, PocketInns, Quasar, Dencity is also Ethereum-based token which is ERC20 compliant and may be used both in real and virtual worlds. Moreover, the tokens will have value beyond the virtual world of the Dencity metaverse. The citizens of the metaverse will be able to transact and transfer assets among themselves using DNX tokens. The Ethereum blockchain technology distributes the power of decision making from a few people to all the stakeholders of the ecosystem.
Problems of the simulated world
In the simulated world, there is no real user incentivization and tokens used in the virtual world do not mean anything outside the gaming infrastructure. Assets such as coins, armor, and gaming equipment earned in the game have no value outside the gaming world. Moreover, most of the users don’t pay to play. If these could be monetized through incentives, the industry could earn greater profit.
Moreover, the users have zero control over the governance. The industry is basically covered with secrecy. Another problem plaguing the industry is that the centrally managed companies do not take into consideration the impact of their important decisions on the gamers.
Games with social interaction features constantly outperform the ones without these features. However, by integrating these social features, the game developers also expose us to the tracking of our gaming behavior. Such data in the wrong hands can be used for cyber bullying of innocent people. To overcome this issue, Dencity encrypts all the data and gives access only to the user. One can make friends and build communities. The platform also provides the capacity for multiple uses including community meet ups, business meetings, and virtual dating.
Decentralization of governance
Blockchain is the top enabler of decentralized governance. In the gaming world, it’s even more important as the opinions of the players are taken into account during decision making. To facilitate the decentralization of the governance, the platform developers have introduced the CASTX protocol where each denizen (citizens of Dencity) is allotted the same number of CST tokens as there are DNX tokens with the user. The CST tokens are auto credited in an election event and unused ones are automatically destroyed after the event.
Overcoming the problems: benefits and key features
Only a small fraction of gamers make purchases in the gaming world. This is because the players do not perceive any real value addition from these purchases. Dencity overcomes this problem by facilitating an environment in which people will pay to play. it facilitates the economic operations through the DNX ICO token which is the primary medium of exchange in the ecosystem and will have a similar value outside of the ecosystem. The platform developers envision that this revolutionary game incentive will attract the masses to the platform. Earnings on the Dencity platform will translate directly into earnings in the real world, as the meta environment replicates the actual environment.
Advantages for you
At Dencity, you are limited only by your imagination. You could be anyone – a bookseller, grocer, detective, or rock star.
Renting to brands
Users can rent their real estate to brands who are always on the lookout for high-traffic land parcels to promote their events, products and services. This way, they will be able to earn tokens. Brands may create shared virtual experience to engage with the audience.
Offline communities can gather on the Dencity platform by renting their real estate, provided the owners are rightly incentivized. Centralized multiplayer games and chat groups can easily port their communities to the platform.
Creators of digital content can publish and distribute their content on the platform. They can earn the tokens by charging a small amount for it.
Companies with worldwide operations whose workforce is stationed in different regions of the world can buy or rent real estate on the platform and use it for business meetings between clients and staff.
Anyone can set up their own marketplace on the platform and sell products or services to earn DNX tokens. The marketplace can be of any type, for example a publisher can sell books, or a fashion designer can sell their latest collection to the people, and earn DNX tokens.
Token distribution and supply
A total of 3 billion tokens will be produced during the whole project.
Here is how these DNX tokens will be used by the fundraisers:
- Presale and ICO: 30%
- Reserved for future: 23%
- For the founders and team: 20%
- Development: 20%
- Advisors: 5%
- Bounty programs: 2%
The management aims to raise USD30 million during phase 1 by selling 900 million tokens. Like other ICOs, such as SkyChain, Rate Date, Havven, Amon, TokenLend, BunnyToken, XWIN CryptoBet, DNX ICO token has also different phases. Each DNX token will be priced at USD0.034. The funds raised during phase 1 will be utilized as per the plan provided below:
- Platform and engineering: 40%
- Marketing and business development: 20%
- Operations: 15%
- Research and development: 15%
- Legal and license: 10%
Team at work
- Diego Matic, Co-founder and CEO
- Andre Broz, Co-founder and CTO
- Anshul Srivastav, Advisor
- Somon Coking, Advisor
- Dean Barozzi, Advisor
- Juha Harinen, Advisor
- Rafael Stoppa, Advisor
Dencity developers have developed a 3-layer architecture to run on the platform. Denizens or the citizens of Dencity will be expected to abide by a certain set of principles. There is a focus on inter dependence and self-reliance. Through interdependence, the denizens can earn four types of rewards which include emotional, social, instrumental, and opportunity awards. Moreover, each denizen is required to take care of the basic needs of food, water, clothing, and shelter of their own. For survival, the denizen will be expected to build interpersonal relationship with fellow denizens and have financial independence for which they should have an occupation that generates income.
- DIEGO MATICCO-FOUNDER/CEO
- ANDRE BROZCO-FOUNDER/CTO
- MARLOES POMPPROGRAM OFFICER - BLOCKCHAIN DUTCH GOVERNMENT
- ALOK GUPTADIRECTOR OF DATA SCIENCE AT AIRBNB
- ANSHUL SRIVASTAVCIO, UNION INSURANCE
- SIMON COCKINGEDITOR-IN-CHIEF, CRYPTOCOIN.NEWS
- ANDREW KOHDIRECTOR, INVESTMENT MANAGEMENT ASSOCIATION OF SINGAPORE
- MICHAEL STREETSENIOR DIGITAL STRATEGIST- BURRELL
- DR. STYLIANOSDATA SCIENTIST, MEMBER OF ROYAL STATISTICS SOCIETY, LONDON
- CORDELL CARTER, IIEXECUTIVE DIRECTOR, SOCRATES PROGRAM, THE ASPEN INSTITUTE
- 1PHASE 0.5- RELEASE OF RULE BOOK - Prior to the release of Phase I Homestead Nebula, we will be releasing a rulebook which the citizens of
DenCity namely, Denizens, will be expected to abide by in the metaverse. This will be the basic rulebook
which will list all their rights and duties as a Denizen. To be noted, this rulebook does not alter the format of
decentralised governance and is only a basic survival guide
- 2PHASE I- FIRST DENIZENS - In Phase I, In Phase I, every denizen will be required to fulfill his/her basic needs of food, clothing, shelter along with
having one of the basic occupations listed above in the Rules and Principles section to generate an income
to fulfill their basic amenities. This phase will see the formation of DenCity’s first civilization, Homestead
Nebula. Phase I will be the building block for all the events in next stages and civilizations.
- 3PHASE 2- FORMATION OF MULTIPLE CIVILIZATIONS, ADVANCED PROFESSIONS - In Phase II, ma In Phase II, many civilizations like Homestead Nebula will be released by the Core Development team.
Along with this, players will be able to select advanced professions such as business manager, entrepreneur,
designer. In the 2nd phase of DenCity, Denizens will also be able to pursue a number of hobbies in their
- 4PHASE 3- INTER CIVILIZATION INTERACTIONS & TRADE - In Phase III, the major upg In Phase III, the major upgrades will be ability for civilizations to communicate and trade between denizens
of other civilizations. This phase will see a huge surge in the number of transactions fueled by unrestricted
interaction and trade between civilizations.
- 5PHASE 4- TECHNOLOGICAL INVENTIONS - Phase 4 of DenCity will be a leapfrog into the technological era which will see an increased quality of life in
DenCity. This will lead to much lower costs of living which will make lives much easier and fun for Denizens.
- 6PHASE 5- PLANETARY EXPLORATION - Phase 5 of DenCity will be giant leap from Phase 4 when the denizens will start exploring other planets in
the universe and try to start a civilization on other planets
- 7PHASE 6- INTERPLANETARY TRADE AND COMMUNICATION - In Phase 6, In Phase 6, we will see successful implementation of exploratory initiatives started out in Phase 5. With this,
we will see colonisation of other planets and a great level of communication and trade happening between