Hi, we are developing a new game and we created a crypto-token for various models of gameplay such as:
Play to earn
NFT based user created assets
Pooled Gaming (smart-contract) enables multiplayer pool challenges where players on each team can agree on a an amount of the currency and the winning team takes the pool, done with smart contacts and a multisig escrow wallet.
Player to player payments and trades
My question is once the game creates the income level for paying Epic Games, how would a crypto based game do this?
How often does the payment need to take place?
Will Epic Games accept Bitcoin, Ethereum or others?
Our token is custom, it is multi-chained.
We are based off of Algorand, this is the original token. Our token on other blockchains are Stable tokens based of off the Algorand version.
The token is MAGMA and these are the current pairs
MAGMA/ALGO + 5 OTHER ALGO TOKENS
MAGMA/XLM + 5 OTHER STELLAR TOKENS
WITH HUNDREDS MORE COMING THIS YEAR.
Not only that we are working with various exchanges to make the swaps work and ties the MAGMA MULTI-CHAIN TOKEN ALL TOGETHER.
I mean it’s very highly likely that you will simply never hit the $1 Million threshold to have to worry about this and pay them anything.
My advice is, start worrying about this once you hit the halfway mark of $0.5 Million.
It’s very likely that the problem will sort of solve itself for you, since at that point you will likely have a contact person at Epic. (IF you manage to make a highly successful 500k+ game they’ll want to talk to you.)
So then simply talk to that Epic developer contact person, or ask them to refer you to someone who can help you.
My guess is no, Epic will not accept a Crypto Currency as payment.
But of course who knows, times could change. Most likely you’ll just have to convert their royalties amount to USD and send them the USD.
As someone who once worked for people that were literally shut down by the fbi for online gambling, I have to ask…
Isn’t creating a match for an amount of crypto currency essentially gambling? Won’t this trigger / be shut down by federal gambling laws in the states?
It goes without saying that if the premise is not legal, epic won’t want to have anything to do with either profits or anything about it at all, since otherwise they accept liability/culpability at least in part…
Even game of war (that mobile crap) was shut down for gambling for a bit.
Gambling Offenses—To unlawfully bet or wager money or something else of value; assist,
promote, or operate a game of chance for money or some other stake; possess or transmit
wagering information; manufacture, sell, purchase, possess, or transport gambling equipment,
devices or goods; or tamper with the outcome of a sporting event or contest to gain a gambling
I’m not sure how
Goes over, but any “game” is a game of chance.
I would suggest having legal seriously look at it, possibly even before approaching epic.
Play to earn is obviously not a violation. Betting you win, to me, is a red flag…
It’s not betting, it’s like going to bingo, but imagine 10vs10 teams each team member pays a fee to enter the competition the winning team members takes the winnings after a fee is taken out and paid to the creator of the game.
But I will have it examined by our attorney, just to be sure.
I’m sure winners can also be gifted with something else like NFTs. But we will find out.