Blockchain-powered mobile games distribution platform ALAX raises US$3.8M via token sale

Sainul Abudheen
Blockchain-powered mobile games distribution platform ALAX raises US$3.8M via token sale

ALAX claims consumers and game developers will now benefit from faster transaction times, reduced price of content, and will open gaming and app purchases to millions of ‘unbanked’ consumers

ALAX, a blockchain-powered mobile game distribution platform with dual headquarters in Hong Kong and Geneva, has raised US$3.8 million via private token sales.

The funding will go into driving product development, international expansion and recruitment. Additionally, the startup plans to bring mobile gaming content to Asia.

Launched in Q1 2018, ALAX is joint venture between DECENT (a blockchain content distribution platform) and Dragonfly (an app and game distribution platform). The company aims to provide a platform for content creators and gamers alike, including ‘unbanked’ consumers worldwide. The ALAX partnerships means DECENT’s proprietary blockchain technology will be immediately rolled out to Dragonfly’s over 100 million active users.

Since its launch, ALAX claims to have seen a sharp rise in mobile phone, consumer electronic and retail partners, including in priority markets such as China, Hong Kong, Indonesia, Malaysia and the Philippines.

In March, ALAX announced its partnership with China- and India-based smartphone maker Gionee. Following this, ALAX has announced partnerships with Torque Mobile, a manufacturer of smartphones and tablets in the Philippines, and UTOO, a purveyor of mobile phones and accessories in Southeast Asia with over 106,000 stores across Malaysia and Indonesia.

The partnership with Torque will allow ALAX to be pre-installed its smartphone and tablet devices, which helps bring mobile gaming content to millions of people in the Philippines and Asia.

UTOO, meanwhile, will sell ALAX top up cards in exchange for digital currency in their stores via their e-wallets. This enables consumers without credit cards or bank accounts to make mobile game purchases easily. UTOO will receive ALAX tokens in the form of top-up cards from ALAX for a fixed price. UTOO can sell these cards to end users with an added margin.

ALAX claims consumers and game developers will now benefit from faster transaction times, reduced price of content, and will open gaming and app purchases to millions of ‘unbanked’ consumers. Previously, game developers would have to face fees of up to 70 per cent and wait for the settlement for up to six months. Now, through ALAX, they will receive the payment immediately and the cost savings can then be transmitted into the development of their game portfolio. From the user point of view, they will have access to better game content for a lower price, and the possibility to use a method of payment that is as easy as an SMS payment.

The ALAX token is going to hit various exchanges, starting with QRYPTOS, followed by YoBit, CREX24, and Coinbene.

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