Lotuscore (LTS) ICO Review – ICO Token News
The digital game industry has shown remarkable growth in global revenue and adoption during the last two decades. The gaming industry made US104.4 billion in revenue in 2016, for example. Game consoles can be shared with a friend or a family member as simply as handing over a game cartridge, but it is difficult to share digital games with friends and family.
Lotus Core is the decentralized platform for investors, players, and developers that is built on Ethereum blockchain technology (similar to other ICO token such as BunnyToken, Seal, Streamity, Darico, Bountie, Fintechbit, KaratBank, HeadStart).
Players will be able to effortlessly trade games with their friends and family.
Digital developers will be able to make a profit from their hard work by selling their digital assets by using the blockchain platform. Investors will be able to fund game projects through this platform.
Lotus Core (LTS) Analysis
What is Lotus Core (LTS) all about?
Lotus Core is a decentralized platform developed using Ethereum blockchain technology and advanced smart contracts for the funding, ownership, and distribution of digital games around the world. Players will be able to trade digital games online with their friends and family present on this platform. 100% of the total revenue derived from selling the game can be earned by the game developers. Moreover, game developers will find excellent funding opportunities through crowdfunding campaigns within the platform.
An innovative and new way to distribute and register digital games
- The Lotus protocol develops a digital game through the blockchain and smart contracts when a game is purchased or loaned in the digital store of this platform.
- The smart contracts are developed with a digital signature and systematically record it in the Ethereum blockchain technology.
- The use of smart contracts and blockchain technology guarantee the authenticity of each copy of the game developed.
- Moreover, it provides players access to their games even when the user is offline.
- Backed by modern blockchain technology and a team of dedicated software developers, this platform effectively seizes the opportunities inside the decentralized global market of digital games that are traded securely within this platform to systematically represent the ownership of property.
Ownership of software
- By being able to provide ownership of software without third parties, players within this platform will have direct relationships with the game developers.
- The ownership proof of the purchased digital game will reside in the blockchain and not in the servers of any company.
- Players around the world will be able to play games on gaming software as if it was a physical copy, which means that players will be able to exchange the purchased game or sell it to other players on this platform.
- All the trades and exchanges on this platform will be carried out by using advanced and sophisticated smart contracts, which will protect all the transactions carried out on this platform from piracy while also providing benefits to game developers.
What problem is Lotus Core (LTS) solving?
Players find it difficult to share digital games through traditional platforms. Nowadays, game developers struggle to finance their gaming projects. A lack of funds is one of the major barriers to the development and completion of developers’ gaming projects. Crowdfunding platforms don’t allow the funding of gaming projects of developers without bureaucratic needs and requirements. Traditional funding platforms don’t release funds quickly, which hampers the game development process.
The traditional and centralized crowdfunding platform lacks transparent automated rules without any interference from any third party. The crowdfunding platforms have many divergent interests as they don’t focus on gaming projects alone.
The solution provided by Lotus Core
The Ethereum blockchain technology and smart contracts are used by the development team to develop a decentralized, open-source, and secure game distribution platform for investors, players, and game developers.
Why is Lotus Core (LTS) a good project?
All the traditional digital distribution marketplaces exist on various platforms and venues. The digital distribution market spaces around the world are conceived as closed environments. This restricts the use of games, takes a percentage of sale revenue from developers, and lacks proper opportunities for investors to fund projects within the same platform. The existing problems and issues are acknowledged by the Lotus Core platform and they are attempting to build a solution for the PC territory venue. It has a great opportunity for improvement thanks to a particular technology gaining popularity on this platform and the openness of personal computers worldwide.
Benefits for investors
Honest and transparent
- The secure funds of this platform unlock funds to developers only if they have accomplished certain specific milestones.
- Through a decentralized and transparent voting system, the milestones will be approved by investors.
- Bureaucratic barriers to fund gaming projects will be reduced using this decentralized platform.
Investors will be able to invest in a project they believe in
- By creating reward-based crowdfunding campaigns, the game developers find investors to fund their gaming project through the Lotus Investment Program created by Lotus Core.
- The core development team behind this project writes smart contracts to define the terms of funding.
- They will set up a percentage per sale to be efficiently returned to the investors.
- In addition, they will also define the terms of an eventual refund in the case of a campaign that does not meet its funding goal.
Benefits for developers
Access to funding capital for launching a new or existing project
- Game developers will receive funds for developing their games taking advantages of the Lotus Core platform by following their roadmaps.
- This platform is ideal for developing new gaming project for new developers.
- Blockchain technology ensures complete transparency in the funding process for a new gaming project.
Gives profits to developers from each operation that involves LTS tokens
- The cryptocurrency assets provide players with a series of options to trade games in different ways that allow the development of new business models.
- It lets game developers participate in them.
- Game developers will be able to write trade conditions that benefit game developers by using smart contracts and blockchain technology.
Secure system to avoid piracy
- The team behind this project provides developers with a convenient system for checking the authenticity of a game copy.
- It lets the developers check the ownership status even in offline mode.
- The Ethereum blockchain and smart contracts will introduce the concept of digital scarcity.
- The blockchain technology allows the creation of unique cartridges to protect the trading process of digital games.
Benefits for players
A fair DRM system
- The development team of this project will be able to write rules that specify the sale of a game is not a trade barrier for a free market to emerge.
- The blockchain technology will allow the owners of the game to sell, exchange, or lend the game after purchasing it.
- Game developers will also benefit from these operations with smart contracts.
Access to a new loan market
- This project will tap into new business opportunities such as a loaning system due to unique game cartridges in the Ethereum blockchain technology and smart contracts.
- Professionals will be able to write a program that provides a game cartridge to a player for a limited time.
- It will also automatically remove the game cartridge from the library of the players.
Games work in offline mode
- The traditional DRM system required an active internet connection to check the ownership of the software in real time.
- The team behind this project can check the validity of any owned game cartridge in offline mode using cryptographic digital signatures.
What is the innovation behind Lotus Core (LTS)?
Game purchasing process on this platform
The platform will provide an API for the creation of unique cartridges in the blockchain to guarantee the ownership of the games developed. By the recipient address, the validity of game cartridges will be given to the developers. The developers of the game will receive 100% of the profits per sale in a direct relationship with the final user of the game.
In order to allow the use of valid game cartridges in offline mode, all the game cartridges used in this platform will be digitally signed using Ethereum smart contracts. It is essential and helpful when someone wants to know the accurate number of copies of a digital game and history of each one.
The process also serves as a convenient and customizable DRM protection system, which will allow developers to access the software in offline environments. Players will be able to share the software previously sold, which will allow them to share, trade, or exchange their games with other players on this platform.
A channel for communication will be provided by this platform for the purpose of creating communication between final users and software developers without taking part in the sale process. This platform makes game distribution a truly decentralized experience.
Anti-piracy system and digital signatures
Each game cartridge will have a digital signature in order to avoid hacking and to allow players to access their digital games even when they are offline. The digital signatures used with each game cartridge are impossible to replicate in case a user attempts to fake the ownership of cartridges they had not bought. To avoid the hacking of the software, the private key to sign the cartridge will be the same as the purchase address.
The users need to sign a random string with the private key used to purchase the game to prove the ownership of the software. A digital signature can only be verified with the public address of the signer, which it impossible to generate a valid signature without knowing the private key of the signer.
The platform will come up with a method for players to effectively download games to provide a truly decentralized experience. The development team will implement the Lotus Decentralized Storage (LDS) to accomplish this task. Players will be able to download as many games as they want as long as they have enough tokens to pay.
In acting like storage nodes by lending an agreed amount of local drive space to the network, players will be able to earn tokens. Players will also be able to purchase tokens on the Lotus store. In addition, they will be able to gain tokens by owning a game for a certain amount of time.
Execution or launching process
The compatible applications will connect with the background process that systematically verifies the blockchain and keeps a record of the digital games of the players when the game is launched or executed by a player.
LTS token price and token sale
LTS is a cryptocurrency that will be used for the trading and funding of games within this platform. The LTS token is a standard Ethereum ERC20 token just like other ICO tokens such as ORCA, Bitnation, Cappasity, Lotuscore, DIW, Koios, XYO, ORIGAMI NETWORK. All the unsold tokens will be equally distributed among all the token holders after the ICO sale ends. 35,000 LTS tokens can be purchased for 1 ETH during the pre-ICO sale and ICO sale.
LTS pre-ICO sale
- Token symbol: LTS.
- Start date: March 21, 2018.
- End date: April 21, 2018.
- Hard cap: 100 million LTS.
- Soft cap: No minimum.
- Bonus for pre-ICO: 50%.
LTS ICO details:
- Start date: May, 2018.
- The hard cap of the ICO sale will be 600 million LTS.
- Soft cap: 1000 ETH.
- Bonus: 15%-30%.
LTS token allocation:
- Total LTS token: 1,000,000,000.
- 60% of the tokens will be issued for ICO sale.
- 10% tokens will be reserved for the community.
- 10% tokens will be reserved for marketing and partnership.
- 10% tokens will be reserved for the development team and advisors associated with the project.
- 10% of the LTS tokens will be issued for pre-ICO.
How to participate in the LTS token sale?
Interested participants need to go through a 4-step wizard before the ICO token sale starts.
- Enter their email address.
- Get the ICO contract address.
- Make a deposit of the desired amount of ETH into the given contract address.
- Then receive the LTS token into their Ethereum account.
Investors will receive a stage bonus of 50% when they purchase LTS during the pre-sale event. There is no minimum amount to participate in the token sale.
Within the Lotus Core platform, players will be able to trade games, developers will be able to earn 100% revenue derived from selling their software, and investors will be able to fund game projects.
Put simply, Lotus Core is the future of the distribution of digital games—and that is why any ICO token investor should consider joining ICO sale of Lotus Core. Of course, we advise you to check read the project’s website white paper thoroughly before making the final any investment decisions.
If you wish to grab more information on how to invest in ICOs, then click on our page.
- MAURICIO REYES(Cofounder) - Mauricio is a full stack developer with 7 years of experience. He has a deep understanding about cryptocurrencies and the inner workings of the blockchain technology.
- PEDRO PIÑANGO(Cofounder) - Pedro has been part of the management team of startups recognized by programs such as TechStars, Wayra and Startup Chile. His role is to put the right pieces together to achieve success in business.
- ALEJANDRO ROJAS(Financial Manager) -
Alejandro has 10+ years delivering data-driven solutions and products. He is a seasoned entrepreneur boasting degrees from Duke, Berkeley and MIT.
- ANDRES SALAZAR(Full Stack Developer) - Andrés is a software developer with 7 years of experience in the field, working in projects with global outreach. He is a well versed cryptocurrency enthusiast.
- ALBERTO SANCHEZ(Full Stack Developer) - Alberto has 8 years of experience developing web applications for startups in different stages.
- LUIS MIGUEL BELLO(Experience Designer) - Luis is a psychologist with 5 years of experience in market and UX research for companies.
- SEBASTIAN GARATON(Visual Designer) -
Sebastian has been responsable for the UI and visual design of many projects. He has also made beautiful illustrations as different pieces of work, like the ones from the successful mobile game “Wordie”.
- GERMAN JABER(System Adminitrator) - Germán is an experienced system administrator skilled in AWS, Linux systems, web hosting and metrics collection. His role is to find simple solutions for complex problems.
- MARCEL IMERY(Legal Advisor) -
Founder of Imery Urdaneta, Attorney (UCAB), LLM (Duke), MBA (Hult) will be providing his legal advise for Lotus Core.
- CESAR ROMERO(Game Dev Advisor) -
Senior Machine Learning Engineer at Unity Technologies is now supporting Lotus Core from his perspective as an engineer of the popular game engine.
- KEN BERGER(Venture Advisor) -
Venture consultant and crypto currency event organizer, assisting major VC firms in deal sourcing, and mentoring/investing in tech startups worldwide.
- 108.2017Protocol and app design
- 209.2017Branding & Design
- 311.2017Launch Project Site
- 412.2017Base Contracts Development
- 502.2018Presale Campaign
- 603.2018Presale Event
- 705.2018Crowdsale Event
- 806.2018Developer Tools module development
- 908.2018Library and Store modules development
- 1010.2018Funding module development
- 1111.2018Private Alpha in the testnet
- 1201.2019Public Beta version in the mainet