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October 13 2017

ICO Alert Report: TriForce Tokens

ICO Alert Report: TriForce Tokens

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What is TriForce Tokens?

Q&A

ICO Alert: For those who are not familiar with TriForce, can you explain what it is, and what the goals of the project are?

TriForce Tokens: We are building strong community driven applications built on top of Ethereum to solve some common issues within the gaming industry. Specifically our solutions look to address issues around revenue generation, developer and player protection and fostering positive communities.
The idea is to create a strong community driven network where we are introducing completely new revenues models that everyone benefits from, not just developers. So a specific example might be, you’ve crafted a new in-game item, you list it on an open market place for others to purchase with the tokens — the developer can set their own transaction fee and the technology will handle this.
Another example relates to our honorary system — a connected network that allows the community to reward each other for assistance or helpful gameplay. So for example, I’m a new player to a game, I get chatting with a more senior member and he/she helps me level up. I could then send him an honorary token as a thanks.
Why we decided to start it?
We are all really passionate about gaming and through our experiences there are some issues for both developers and players that could be solved with blockchain technology, specifically smart contracts. We noticed some genuine gaps in the market that this tech could address really well. And we’re all really techy people so it just seems natural to combine all this.
Our goals are to become the most widely used crypto-currency across the globe for gaming platforms and to become the most recognised brand in solving some key issues in the gaming industry. Real user adoption is our priority which will increase the value of the tokens.

ICO Alert: How does the TriForce (TFT) function within the platform and why is it needed?

TriForce Tokens: The tokens are the currency that represents the value individuals all place on the interactions, the trading, the honouring and rewarding of each other. It will act as the asset that drives the network interactions across the community.
Also it allows the introduction of the revenue models that both developers and players are going to benefit from. So with the transaction fee’s, player to player trading and honouring — everyone is going to have an opportunity to make additional revenue — potentially overtaking existing models. What we mean by that is take ad-revenue as an example — the majority of players don’t necessarily appreciate constant adverts interrupting their game play. So developers could actually overcome this, by introducing our new revenue models.

ICO Alert: Can you explain your four phase ICO distribution model? What is the benefit of distributing funds this way?

TriForce Tokens: We decided to go for this distribution model as it provides a level of assurance to the project supporters and contributors that we must stick to our roadmap and deliver on these objectives in order to utilise the funds. This is how confident we are on advancing this project over the coming years. Many projects seem to fade into the background after funding or there is very little visibility on progress. We will be different; We will actively work on increasing the value of our tokens, by achieving real user adoption, and proactively communicating this with the community.

ICO Alert: PC, console, and mobile gaming make up a majority of the gaming industry’s total market share. How will the platform and token operate differently within each of these systems? Will there be cross-platform functionality?

TriForce Tokens: The technology we are building sits as an external layer, outside of these platforms, and thus it does provide cross-platform functionality. This is what the project is all about — decentralization and fostering collaborative communities.
As an example, you could be connected to a mobile app group, sharing resources, joining clans and so forth. You can also be connected to other groups from PC or console platforms. In this sense you have a single, central place you are connected to everyone in your gaming world, whatever the platform.
Bear in mind a part of the technology implementation will be down to game developers themselves and the wider gamer community. There could be ways of using our own technology that we haven’t even thought up yet.

ICO Alert: What are the problems faced by both indie and large company developers? How is TriForce looking to attract these developers?

TriForce Tokens: Indie game developers have to compete with big names and extremely competitive market places. It makes it tricky for their games to get noticed. On top of this, they have to pay typically 30% of the revenue they generate in games toward these platforms. With our technology they can introduce completely new revenue models, get paid faster and get to keep 100% of the revenues they generate.
We will also provide interesting solutions to combat piracy which is costing the industry billions in lost revenue. We will be playing a part in that so that developers can actually identify this and act accordingly.
Another issue is around negative communities, that can really put new comers off from playing a new game — this negatively impacts player retention on games. Interestingly some games have used punishment systems to counter this — but the most effective means is to actually reward good behaviours. This is why we are introducing an honorary system where the community work together to collaborate and help each other.
As Blockchain and Gaming, the intersection of these, is really unexplored right now, and there is huge potential for what blockchain tech can bring to the gaming industry, to solve some of its problems.

ICO Alert: In your whitepaper you discuss plans to initially establish TriForce in both the European and US market. With Asia also being a large player within the global gaming economy, do you have any plans to extend to the East?

TriForce Tokens: Yes of course, we understand and acknowledge that Asia is also the largest contributor to the gaming industry. We want to get a good foundation both here in the UK and Europe first, as its our home country, so it makes sense to start here. From there we will expand to the US as there is little to none language barriers and cultures are fairly similar. Asia will follow closely after the US, but will take more time to penetrate the market due to the language and cultural differences.
We could have claimed like others projects, that we are going global, right from the get go. How realistic this is however, really depends on the networks you have, resources and cultural understanding in order to actually launch globally. We are very optimistic, but also realistic. Our mindset is, let’s take positive steps towards reaching our dreams, rather than giant leaps that could ultimately fail.

ICO Alert: Is piracy a big issue within the gaming industry? How is TriForce seeking to limit or eradicate piracy cases on the platform?

TriForce Tokens: Piracy in general is a big issue. Piracy in the gaming industry is no different to that of the video and music industry. However, for smaller developers such as Indie developers, piracy can be detrimental to their revenue streams and time consuming to the point of poor ROI to combat it.
We plan to decrease piracy within the industry through our decentralized platform with the help of the blockchain. The use of Big Data will also play a huge role in helping detect piracy, to which we will provide all information to the developers. It is from there where the developers choose how to handle it.
We are currently going through IP audit process with the support of Coventry University Business Enterprises and Innovate UK and so revealing specific details on this would be detrimental to our project at this stage.

ICO Alert: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the TriForce platform?

TriForce Tokens: Absolutely. We are implementing ‘just in time’ models into the network interactions. What this means is, our platform will handle the bulk of the requests, up to the point when the requests need to leave our infrastructure and into the public domain. This means almost instant transactions are built into the ecosystem.

ICO Alert: As a non-TriForce question we like to ask for unique predictions for the ICO and crypto currency space in the future. Where do you see both in the next 3–5 years?

TriForce Tokens: It’s a really interesting question and something everyone in the community wants some clear insight into.
My experience of trying to predict markets, is that you can never tell what the future holds. Having been involved in the forex market for many years, I can tell you no amount of chart plotting, strategies, trading bots and so forth will ever tell you what is going to happen in the future.
My personal opinion however, is that the ICO market place is a new and interesting way for companies to raise funding they need to turn their vision into reality — and it rewards the community too by letting them enjoy in companies success. I doubt they will disappear. However, we will likely see tighter regulation as we have already witnessed. Once policies start coming into force, there will be stricter procedures to follow, and it wouldn’t surprise me if international governing bodies were put in place. This could take years though.
As for crypto currencies and blockchain solutions — the real problem solvers are here to stay. We will see less and less projects that are just cashing in on a quick way to raise funding. This is why we actually want some kind of regulation, so that it’s a much more authentic and trustworthy market place.
Overall the outlook is positive. The technology is moving really fast but is solving some real world problems, and adoption is growing. A few years ago most people you met on the street would never have even heard of Bitcoin. Now practically everyone has heard of the blockchain. Whether they understand it yet, is another barrier to cross.

ICO Information

The TriForce Tokens (FORCE) ICO will begin on February 20, 2018 at 12:30pm UTC and ends on March 6, 2018 at 12:30pm UTC. There will be a maximum of 2,000,000,000 FORCE tokens supply created, with 1,500,000,000 being available to buy. The soft cap is set at $500,000 and the hard cap will be set at $60,000,000.

FORCE tokens will be available for purchase at a ratio of 1 ETH = 6,000 FORCE. Only ETH will be accepted form of contribution.

Token discounts will be awarded based on supply that is sold. As more tokens are distributed, the discounts will decrease. To make sure you receive the highest bonus, you should try to contribute as early as possible.

The full discount structure is defined below:

TriForce Tokens (FORCE) has implemented a KYC and Whitelist process. Only approved contributors on the TriForce Tokens whitelist will be able to purchase FORCE tokens within the token sale event.

Visit the TriForce Tokens website for more information and to start your KYC application to become an approved contributor granting you access to the token sale event.

Token Distribution

There will be a maximum total of 2,000,000,000 FORCE tokens created, 1,500,000,000 will be made available during the ICO. Purchased tokens will be distributed at the point of purchase during the token sale. Any tokens not sold will be burned to counter depreciation due to over-supply.

Allocation

75%: Public ICO

10%: Team

10%: Early Investors

3%: Exchange Network

2%: Bounties & Rewards

Use of ICO Proceeds

40%: Marketing

38%: Development

12%: Operations

5%: Legal, Governance, & Audit

5%: Contingency


Team

Pete Mardell, CEO
Linkedin
Pete is an experienced Head of Development with a demonstrated history of working in the staffing and recruiting industry. He is skilled in both LAMP and MEAN stack, Database Modeling, Computer Literacy and AGILE/LEAN methodologies and more recently Unity3D. Pete is also a strong engineering professional graduated from Harlington Upper.

Raza Ahmed, CTO
Linkedin
Raza is an experienced Full Stack Web Developer with a demonstrated history of working in the computer software industry. He is skilled in Solidity(Ethereum), Javascript, Github, SQL, Node.js, AngularJS(1,2) and Web Applications. Strong engineering professional with a Master of Science (MSc) focused in Software Development from Coventry University.

Dr. Nazaraf Shah, Ph.D Research Engineer
PurePortal
Dr. Shah holds a BSc degree in Electrical Engineering and a PhD degree in computer science from Coventry University. He is currently a Senior Lecturer in Ethical Hacking and Computer Security. Nazaraf has a broad interest in Service-oriented Computing and Semantic Web and has published over 50 papers in the area of service-oriented computing simulation, scheduling and software applications development.

Jakub Kafarski, Front-End Engineer
Linkedin
Jakub is currently the front-end engineer at TriForce. He also holds the same position with CycloMedia Technology.

Sorina Rusu, System Developer
Linkedin
Sorina is a passionate developer with extensive experience in PHP and Node.js,.

Jacob Ashby, General Manager
Linkedin
Jacob is a highly motivated International Business graduate from University of Westminster, who took a year out to study business at Lycoming College, PA (USA). He is an enthusiastic and driven business academic.

Social Media
Twitter:​ https://twitter.com/triforcetokens
Facebook: https://www.facebook.com/triforcetokens
Telegram:​ https://t.me/TriForceTokens
YouTube:​ https://www.youtube.com/channel/UCzXH1e2bclPu8NkuM1yICfg
Slack: https://triforcetokens.io/slack-invite
BitcoinTalk: https://bitcointalk.org/index.php?topic=2222731
GitHub: https://github.com/TriForceNetwork

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References

(1) TriForce Tokens Website, Triforce Tokens, (2017)
https://triforcetokens.io/

(2) TriForce Tokens Whitepaper, TriForce Tokens, (2017)
https://triforcetokens.io/resources/white-paper-v3.3.pdf

Topics: Blockchain, Triforce, Ethereum, Bitcoin, ICO