ALAX, a new venture between blockchain technology company DECENT and games distribution platform Dragonfly, has released a white paper outlining further details of its token structure and confirming a token generation event (TGE) beginning Apr. 17.
Access to millions of ‘unbanked’ consumers
The token-based ALAX platform will give developers access to tens of millions of game and app consumers who do not use credit or debit cards (the World Bank Global Finance Index 2014 identified two billion unbanked adults worldwide), yet do have relatively easy access to cash and 3G/LTE smartphones.
With the ALAX platform, customers will be able to purchase ALA tokens in cash through the existing Dragonfly retailer network. ALA tokens are then used in-app to purchase games and apps direct from the developer. Not only does this quicken the transaction, and reduce the price of content, it also opens gaming and app purchases to customers without access to traditional methods of payment.
The platform will also represent a fairer deal for developers. DECENT estimates traditional purchase methods result in game developers receiving a maximum of 70 per cent profit from an app, with payments often taking along as six months to be processed. In contrast ALA token payments will be made directly to the developer and can be exchanged for a FIAT currency at any time.
Mobile games revenue in Southeast Asia is predicted to reach $2.4 billion by 2021. This and pending deals allows ALAX to provide app and game developers with access to millions of new consumers in emerging markets.
ALAX’s TGE begins Apr. 17th, and will run six days. One billion ALX will be issued, and these tokens can be used to acquire ALA tokens (tied to FIAT and used for in-platform purchases) on the one-way ALX/ALA exchange at a 20 per cent discount.
The ALAX platform will be immediately available to consumers and developers following the TGE’s conclusion.