Ryu Coin, a United States-based blockchain company offering wagering for players of mobile games, has announced a beta release based on its “Practice Coin.” The beta, which uses Apple’s TestFlight app for iOS mobile devices, features Ryu’s Home Base mobile app and three supported mobile games.
The Ryu Coin beta offers its users the opportunity to play three games: Slime Soccer, Slime Basketball, and Slime Volleyball. Users can choose to wager Practice Coin on their game outcomes. Practice Coin is a free test asset that is awarded to players every day.
Ryu Mobile Wallet
Ryu’s mobile app includes support for NEO and ONT wallets. Users will digitally sign all wagers with their wallet’s private key by approving a blockchain transaction. In user interface terms, the signature will involve approving a two-factor authentication request that is pushed to their phone by the Ryu Mobile App.
Ryu states that users can create new blockchain wallets, or import previously existing NEO and ONT wallets. According to Ryu, the wallet “will also have the availability to create an encrypted key with a password” that is backed up on the user’s email address.
RyuCoin Utility Token
Ryu’s planned utility token, Ryu Coin, seeks to comply with the SEC’s Howey Test through the following design features:
- It is of fixed value ($1).
- It will be “bought and sold directly by us to and from users” for $1.
- It is “non-transferable”.
- It is “not listed on exchanges”.
Ryu Coin is expected to be integrated into the Ryu Mobile app after its beta development phase is over.
Security Token Offering
Ryu’s planned registered securities offering will offer a token that awards its holders a portion of the revenue from its game tournament entry fees. Ryu’s tokenized security is intended for trade on regulated securities exchanges.
Game Library Expansion
Ryu Coin also says that it is “partnered with four video game developers” to offer more games that support Ryu Coin wagering in the future.
Ryu Coin’s full beta release announcement can be viewed at the following link: