Bitcoin won’t be used on Saturn - INTERVIEW WITH DEMID CHUNTONOV, CRYPTOHIT CAO

CryptoHIT is a decentralized platform for financing gaming project, where both game developer and gamer can earn on their achievements. During the high season – CryptoHIT pre-sale is taking place now, Demid Chuntonov project’s Chief Analysis Officer found some time to answer our tough questions.

Anna Hare: Can you say something about the CryptoHIT history? When and how did you invent this concept and what was the impact for it?

Demid Chuntonov: We had this idea to make a gaming platform for years. In September 2017 we met our current CTO Sergey Bashkov at a cafe and he introduced us with a prototype of a blockchain game he invented called Gladiators.  First, we wanted to develop this game as a stand-alone but later decided to pursue our dreams and start the ICO to build a platform for all crypto game developers. This is shortly how our history began.

A.H.: I must admit, you are very creative in names inventing. What is the CryptoHIT etymology and why did you call your token - Galactic Credit Coin?

D.C.:  It’s an interesting question. The concept was derived from our aspiration to build a company whose passion will be to create gaming hits. Every new game title that we would develop is contemplated to become a worldwide hit that millions of gamers would play. That’s where the part of the name “hit” came from.

Since all of our games are powered by our own Galactic Credits (GAC) cryptocurrency, we decided that it would make sense to put the word “crypto” in front of “hit”. And once we did, the name automatically started to rhyme. CryptoHIT became a name that we decided to name our company. In colloquial English, everyone would be able to instantly memorize it. We believe the name should be simple and easy to remember.

Galactic Credits is a well-known Sci-Fi element in 70s fiction. One day we were discussing that bitcoin is a father of all crypto, but it has no future because of the slow blockchain transactions, high fees and volatility. Someone noticed that surely no one will use it in a distant future paying the bar tab on Saturn… it will be something like Galactic Credits… this is how the idea was born.

A.H.: Is there any real revenue standing behind this project? I’ve seen logo “based in Cyprus” but I couldn't find the information about the office or company.

D.C.:  Currently we’re a pre-revenue project, only in pre-ICO phase. We’re testing our concept, finding the right people, building community. We chose to incorporate our entity in Cyprus. It was chosen as the most comfortable jurisdiction to conduct business in after looking at a dozen of other jurisdictions, including Singapore, Hong Kong and Malta.

A.H.: Why do you think that financial games will blow up the market? 

D.C.: Have a look at CryptoKitties project, it was so popular that it disrupted the whole Ethereum network, doubling Gas prices.

A.H.: The success of your project depends directly on the gamer numbers.  How many players are you planning to attract? Do you already have some marketing concept or partnerships to achieve this goal?

D.C.: We’re planning to launch 4 games produced by CryptoHIT that should gather several million players in 9-12 months. We plan to release our first game in the nearest future. It is quite simple, but it immerses players into the crypto world, introducing the principles of cryptocurrency payments, using metamask, transaction processing, etc.

At this very moment, we’re engaged in active talks with Unity. Unity plays an important part in a booming global games market. More games are made with Unity than with any other game technology. More players play games made with Unity, and more developers rely on Unity's tools and services to drive their business.

More partners are pipelined and we will announce more partnerships as they come.

A.H.: Let’s talk about the CryptoHit future. Which markets are the most promising for you?

D.C.:  We believe that the most promising markets for us are China and South Korea. China has the most growing amount of users per annum (50% growth of devices every year). South Korea is also a lucrative market based on our perceptive. South Korea encompasses professional gaming gurus who are passionate about cryptocurrencies.

A.H.: According to your documents “GAC” supposed to be traded on “major exchanges”. If it is not a secret can you reveal on which?

D.C.:  After the end of pre-ICO, we will take a technical timeout, and within a week we will credit tokens to all investors. After that, we will start applying and negotiating for listings on all exchanges.

A.H.: After the end of the Pre - ICO? So, do you want to have your tokens listed before the main-sale?

D.C.:  It takes several months to list a coin, so we will start applying and negotiating during the ICO stage. I can't say where and when it will be listed exactly.

A.H.: Correct me if I am wrong, but I haven’t seen any game developers in your team. Do you have enough experience and knowledge to handle a gaming platform?

D.C.:  Our team has some experience in game administering and promotion, however, we intentionally decided to abstain from pushing this. We consider gaming industry too orthodox and plan to build our work on new principles, more popular in the decentralized crypto community.  

A.H.: Do you already have some games in your portfolio we could see? If yes, please give the names.

D.C.:  
We have experience in building and popularising a browser MMORPG strategy game. We cannot present this project to the public, because it was sold to a third-party and later closed (due to core players rejecting new greedy governance). Currently, it’s non-existent.

A.H.: What if you’ll not collect the soft-cap? Will you give funds back to investors or rather prolong the ICO or reduce the soft?

D.C.:  In the event that we don’t accrue the entire Softсap, it will be apparent that the company will not be able to fulfil its aspirations, and the product will never be developed.

In the unfortunate event, if this ever happens, it is our obligatory requirement to refund every single penny to all of our investors in their entirety. I wanted to emphasize on this aspect separately to those who may be sceptical.

A.H.: Could you give me or anybody else 3 reasons to invest in CryptoHIT?

D.C.:   The market is very competitive, several projects have already raised funds since November and with each passing day new ICOs are emerging in this field. First of all, with a market volume of 100 billion dollars, dozens of platforms can coexist here, practically not competing with each other, so we don’t see a problem in that. But, I must say, most of the projects, unfortunately, have existing websites with running business processes that simply use the crypto market to raise additional funds for the development. There is no need for decentralization for them, and the coins they issue are not functional, but simply work as a padding between fiat money and virtual goods.

All our games will use blockchain in their essence. They are not ported to the blockchain, they are built on top of it.

1. Since our token cuts across all game processes (e.g. each new game issues tokens), it will be in demand for purchase by both players and developers. In addition, we have developed a system for burning tokens, we plan to concentrate our efforts as much as possible on creating a deficit and the demand for GACs. Based on this, we believe the price of the token will grow organically on a continuous basis.

2. We will seek common ground with both small studios and huge corporations. According to our data, there are now about 3 million game developers in the world. We have a lot of interesting synergies to "lure" them in: rotation of users on the platform (they are millions of free players for any project with zero investments in advertising), saving on commissions and transaction fees for up to 60%, generate revenue on a connected user through their game even when that user leaves the game for any other game on our platform.

3. All investors get the opportunity not only to sell GAC tokens profitably after the cryptocurrency has been listed on the exchanges or to keep a long position for strategic purposes but also to start using a number of investments and earning opportunities almost immediately in our first games.

Demid Chuntonov, CryptoHIT Chief Analysis Officer has been consulting, propelling and administrating gaming projects for the past 7 years. Additionally, he has an experience with business research and analysis. In the CryptoHIT team, he is responsible for all aspects of division's operational policies, day-to-day operations, business development and initiatives.


If you would like to learn more about the CryptoHIT project check the links below:

Website:

https://cryptohit.io/

Whitepaper:

https://cryptohit.io/docs/CryptoHIT_White_Paper_EN_2018.pdf?v=20180427

Currently, project’s Pre-ICO is taking place. CryptoHIT prepared some juicy bonuses for the early investors. More details below:

https://cryptohit.io/  (section: tokens)

Social media:

Facebook: https://www.facebook.com/cryptohitico/

Telegram: https://t.me/cryptohitico

Twitter: https://twitter.com/cryptohitio  

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