All Things Alt: Sync’s Stability Bid, an Ivy League Alt and a Coin for World Domination
There are plenty of fresh faces and seasoned coin networks taking the altcoin world by storm these days, offering plenty of excitement (both the good and the bad kind) for those involved. Between the market fluctuations, of course, are the interesting and, at times, one-of-a-kind threads that make the alt scene what it is.
For just a taste of what’s happening around the community (as there’s never enough time to cover it all), read on to see some of the dynamics shaping alternative cryptocurrencies today.
Ironbankcoin seeks to build blockchain-based strategy game
Ironbankcoin is partnering with Blockchain Technology Group, a cryptocurrency technology firm that specializes in designing and managing digital currencies. Blocktech will manage the ironbankcoin network while the development team for the game handle the design and implementation of the game platform.
According to the alt’s official Bitcoin Talk post, ironbankcoin will function as an ownership token for the game – the more IBC you hold, the more land you own. Yet, because the alt will be traded and exchanged in active markets, the value of that “land” is very much at play. Finally, the coin will function as an in-game currency as well.
The development team noted on Bitcoin Talk:
“Have you ever wanted a coin that doesn’t need to be tied to BTC? An economy made from a “game”, but a game that can make you more of the currency. The land will have value in IBC and that is what the marketcap can be tied to. Easy to defend a small portion of land for small profits. Near impossible to rule a kingdom alone. Who can you trust to help you rule?”
The comments above imply that the game will require cooperation and intrigue between players. While the announcement did not contain specific details about the nature of the gaming platform, the development team told CoinDesk that it will focus on kingdom management, diplomacy and economic management.
Ironbankcoin is currently holding an initial coin offering (ICO), offering 50 percent of the coin’s 100 million coin supply during a seven-day pre-launch sale. According to the development team, coins will be distributed on a proportional basis depending on the amount of BTC received during the sale.
SYNC expands asset list, launches new wallet
Several weeks ago the SYNC community made waves in the markets when it announced SYNC Assets, a portfolio of digital assets that includes domain names and prominent cryptocurrencies.
For those who meet the requirements, proceeds from asset sales are distributed proportionally to eligible members.
Since the SYNC Assets launch, the team has built the list of domain names it controls and has continued to push value-added features such as airline miles and discounts exclusively for SYNC holders.
CoinDesk spoke with SYNC Foundation co-founder Mike Fiol, who said that the fundamental purpose of SYNC is to give individuals an entry point into crypto-investment with a vehicle that seeks greater stability compared to other available coins.
Fiol explained that beyond that, the goal of the project is to give investors a way to avoid some of the problems associated with altcoin markets, including projects that turn out to be fraudulent in nature.
“We’re trying to create something that has some tangible value to it. It was a response to all the scams going on, a response to the realization that anyone can work on a coin.”
One of the projects under development is the creation of a mobile app that will allow SYNC owners to tap a range of discounts and consumer benefits. According to Fiol, the app will enable SYNC investors to find businesses nearby that offer these benefits. Notably, inclusion in the membership program requires owning at least one SYNC, which at press time costs an average of 1.2 BTC across all exchanges.
Fiol summed it up:
“If you use it correctly, you can save outrageous amounts of money.”
Two percent of proceeds from the Foundation’s asset and coin sales are directed to a program called SYNC Kids. This initiative devotes funds to the Spenser Somers Foundation, a non-profit organization which sponsors a Ronald McDonald House children’s charity center in Minneapolis.
Looking ahead, the SYNC team recently released a new wallet and is looking to continue expanding on its existing services. Fiol hinted at upcoming releases that will expand the scope of usability for SYNC.
Educational initiative for altcoin trading takes shape
The altcoin world owes much of its existence to the diverse community of investors, traders and Twitter pundits fueling speculation and exchange in the marketplaces. While some bring years of experience in traditional financial and asset markets to the crypto realm, there are others who enter the environment with little idea of where to begin.
Ivyleaguecoin, a new altcoin initiative, aims to provide a vehicle for novice investors to gain insights into the nature of buying, selling and trading.
CoinDesk spoke with the ivyleaguecoin organizer, who said that the goal is to provide a platform for people to gain perspective on the various aspects of trading on a level that is comfortable for them. The planned courses will be structured in several tiers and include resource documents, live webinars and one-on-one instruction.
No pricing information is yet available, but an ICO is planned that could raise as much as 2 BTC to pay for platform development and instructor compensation. The organizer told CoinDesk that participation in the tiers will require varied pay scales, saying:
“Each tier will have different cost and include some coins. The intro level will be basic documents to start a user if they don’t feel the need for live training. The novice and advanced [levels] will have live training sessions to better help people understand what they see and where.”
The team behind ivyleaguecoin has yet to reveal an initial launch date, but with a planned two week-long ICO period, the program may not go live until next month at the earliest.
Strange alt of the week
Here on All Things Alt, we’ve covered our fair share of bizarrely branded coins. For better or for worse, some development teams choose potentially copyright-protected properties and attempt to build cryptocurrency network.
Lemurcoin continues this proud tradition by using popular characters from the DreamWorks Animation film series Madagascar, including the character “King Coolian” who is embossed on the coin’s official logo. The film collection focuses on a group of animals who find themselves thrown into wacky adventures around the globe, and the broader franchise itself has generated hundreds of millions of dollars in global revenue.
For this appraoch, lemurcoin has won this week’s Strange Alt of the Week award.
As an altcoin itself, lemurcoin is pitched as a low-supply investment opportunity tied to, according to its official Bitcoin Talk post, the number of lemurs alive in the world.
The post reads:
“[The] value of lemurs in the world fauna is very high; smart, uncharted and mysterious creatures of the world. King Coolian believes their coin deserves same high value!”
The development team has a number of proposed initiatives in mind, most notably a Madagascar-focused airdrop. The announcement post explores the question of whether or not the currency could act as a so-called country coin like auroracoin, saying:
“Is lemurcoin an official cryptocurrency of Madagascar? Huh, what kinda questions is that, sure it is! His Countryness King Coolian himself said so!”
The coin is expected to fully launch on 17th August. CoinDesk reached out to DreamWorks for comment but did not receive an immediate response.