Decentralised games ecosystem Nitro is getting a lot of attention thanks to its current ICO.
In the Nitro ICO the team are distributing NOX tokens to the public as part of the crowd sale.
So far so clear…
But also used within the Nitro ecosystem is Nitro Dollars (NOD). Here we’ll look at the difference between the two and how they are used within the Nitro ecosystem.
Why Have Both NOX & Nitro Dollars (NOD)?
NOX can be thought of the oil that keeps the Nitro engine running. The price of NOX will be volatile and can shift significantly over time. In fact an appreciation of NOX will be desirable so as to reward early adopters.
At the same time a utility token which can be used within the Nitro Marketplace and games is essential. This currency needs to be stable. This is the role of Nitro Dollars. Each Nitro Dollars is pegged to the the equivalent of !USD.
Nitro Dollars and NOX can be freely exchanged for one another either through the Nitro Marketplace or the API.
Having a dual currency means that both are able to achieve their desired outcome. NOX is freely traceable and thus can appreciate in value. NOD has stablitlity and so is a reliable medium of exchange.
How Nitro Dollars Are Used By Games Studios
Game studios and promoters will use open API and SDK to integrate their games into Nitro. They will able to use NOD as their in-game currency. Gamers will be able to use NOD to do things like buy power-packs, characters, virtual items and more.
Gamers will be incentivised to pay for their in game purchases by using NOD by receiving a 10% discount.
Using NOD as the in game currency will have a some big advantages for games studios. The funds that they earn from these in game purchases will be paid immediately. This compares to one to two months for typical payouts for in game purchases
NOX and NOD Exchanges
Inside of the Nitro Marketplace will be an online store. Visiting this online store holders of NOX will be able to exchange their NOX for NOD.
There is will be able an open API and SDK which will allow other participants in the system to use NOD and to integrate with the Nitro marketplace. These SDK and API will be available free of charge.
Gamers Using NOX
Games will be encourage to exchange their NOD for NOX in order to get the privilege of voting on which games are funded. They will also be eligible for special bonuses. They will also be rewarded for certain actions within the network with NOX tokens. Nitro will charge 5% tansaction fee for converting NOD to NOX.
Buying NOX In The Crowdsale
NOX is being distirbuted in a crowd sale. The key details for this are below:
Exchange rate: 800 NOX = 1 ETH
Start Date: 1st December 2017
End Date: 26th December 2017
Payment: ETH or BTC accepted
Maximum Raise: 75,000 ETH with the option to increase the maximum to 85,000 ETH if it is over subscribed