Reality Gaming Group, creator of Reality Clash, is looking to raise £1.5 million through a Security Token Offering. The funds raised will be used to further develop the game and create new games which will also feature in-game tokenized assets.
Reality Clash and its Security Token Powered Expansion Explained
Reality Clash is an AR combat video game. Reality Gaming Group, the company behind the game, is now leveraging TokenMarket to raise £1.5 million through a Security Token Offering (STO).
The funds will go towards continued development of Reality Clash, and new titles under Reality Gaming Groups’ AR and blockchain platforms.
The game features tokenized in-game assets, which the new titles are also said to feature.
Reality Gaming Group described the STO as,
“A new, digital type of equity share offering that offers investors the same rights as ordinary shares. Ownership of the share is recorded on the blockchain, with an STO holder able to sell on their investment at any time.”
The company will utilize TokenMarket’s security token platform to assist with the offering.
In describing the game, Reality Gaming Group co-founder Tony Pearce said,
“Reality Clash has proven to be a hit game with real resonance – think Pokémon Go meets Call Of Duty, with tradable player-owned assets. We’re tremendously excited to be embarking on the next phase of Reality Gaming Group’s growth.”
Besides the STO, the company has plans to license its mobile geo-location AR platform and blockchain marketplace to third-party developers.
Back in July of this year, TokenMarket raised £240,000 through its own STO. The STO was approved by the Financial Conduct Authority (FCA), the United Kingdom’s financial regulatory body.
In addition to equity, security tokens have seen successful implementation in assets such as real estate, investment funds, and even fine art.
What do you think about Reality Gaming Group looking raise £1.5 million with an STO? Let us know what you think in the comments section below.
Image courtesy of Reality Clash.