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Press release content from TS Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from TS Newswire
Press release content from TS Newswire. The AP news staff was not involved in its creation.

Team3D Announces the Public Token Sale of VIDYA

September 9, 2020 GMT

New York, NY ( TS Newswire ) -- 09 Sep 2020

Team3D, an innovator in the blockchain gaming space, is proud to announce the upcoming public exchange listing of VIDYA a cryptocurrency designed to create and sustain a new gaming ecosystem on the Ethereum blockchain. The listing, timed for early September, will coincide with the release of an all-new blockchain game that will make use of VIDYA as its primary in-game currency.

The idea behind the VIDYA cryptocurrency is a novel one. It’s purpose-built to serve as both a transaction medium for a series of blockchain-based games as well as a real-world rewards system that carries measurable consequences for in-game decisions. The overarching goals of the VIDYA cryptocurrency are to create a funding stream for high-quality games aimed at the competitive gamer set, to fundamentally disrupt the current blockchain gaming status quo, and to bring bleeding-edge tokenization concepts to the medium like never before.

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According to Team3D’s community outreach team, “The purpose of this token is to sustain an economy built for real games that have been in development for over two years, that touch on different aspects of tokenomics that we have seen so much of lately, such as deflationary and proof-of-liquidity models. The limits are boundless, and you will always have a stake in everything we do so long as you hold this token.”

The idea had its genesis in the prior experiences of Team3D’s founding members. Made up of a group of experienced blockchain developers, game designers, and true competitive gamers, the founders were disappointed that blockchain gaming had become more of a novelty than a serious gaming ecosystem. As a result, they worked tirelessly to build blockchain games aimed at real gamers using best-in-class technology and experience design. But their efforts ran headlong into an Ethereum gaming environment that wasn’t suited for what they were trying to accomplish.

The problem they observed was a lack of any real mechanism to support blockchain game developers seeking to build immersive on-chain experiences. Instead, the existing environment encourages developers to build shallow, fast-built games aimed primarily at gaining viral success. To create a development environment that would foster more in-depth game creation that made use of blockchain’s unique feature set and game modalities, a new approach was needed. VIDYA is that approach.

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After going public, the aim is to use the proceeds to fund Team3D’s game development plans into the far future, while giving gamers a way to support and have a stake in those games through a VIDYA-based in-game rewards system. At the same time, VIDYA is designed to create real value for holders establishing a virtuous cycle that benefits the whole blockchain gaming community.

The public sale of VIDYA will include a token supply of 17.5 million, which represents 35% of the total supply of VIYA at launch. Another 35% was allocated to the now-complete presale period, with the remaining 30% forming the pool for developer funding and game rewards going forward.

Once the public listing of VIDYA is complete, Team3D also reports that it will become trackable on Coinmarketcap and CoinGecko for additional market transparency.

About Team3D

Team3D is a collective of blockchain developers, game designers, and avid gamers dedicated to creating new blockchain-based gaming experiences through the use of innovative tokenomics approaches that merge in-game mechanics with real-world rewards and consequences. They aim to create and sustain an emotion-driven, high-stakes gaming ecosystem that provides players with a first-of-its-kind way to both enjoy and profit from their love of the games they invest in and play. For more information about Team3D or VIDYA, visit them on the web at Team3D.io, on Telegram, or through their official Discord channel.