NASSAU, BAHAMAS – A Bahamian technology firm is looking to hit the market as early as next month, with the world’s first reward-based Digital Collectible Game, targeting $1 million in sales by Q4 of 2019.
Marine archaeology company PO8 is gearing up to roll out the first phase of Skully, a first of its kind digital collectible game with unique cryptographic artwork embedded on Non-Fungible Tokens (NFT) that stands as the Bahamas’ entry into the rapidly growing $50 billion industry.
In an interview with Eyewitness Business, CEO of PO8 Matt Arnett said the launch would not only create jobs for local Bahamian artists who will be used to design their tokens that are called skullies, but it will provide opportunities for local software developers and produce another industry for the nation.
“We are answering the call of the government and I believe that technology could shift the future of The Bahamas from Tourism to technology and make it our third pillar,” he said. “So we’re hoping to release the first round in March and our goal is to sell $1 million in skullies this year alone.”
The pirate-themed game will see players adopt uniquely created skullies – which act as avatars in the gaming world – and race around working their way up in status, claiming ‘land’ with geo-flagging on the Blockchain that marks their ‘booty’, all while earning PO8 coins. These coins can then be used to either purchase more powers or one can cash out at any point in time.
“We’ll cash you out or you can find someone on the digital marketplace who may want to enter at your position and you can sell it to them,” said Arnett. “All of this is done through digital platforms and augmented reality.”
With an entry point ranging anywhere from $3 to $5 a skully, the company seeks to generate 10k active daily players on its app. It’s a marker valued by many in the gaming world as important as it indicates the game has potential for growth and other opportunities.
Once an app starts to record that amount of daily users, Arnett explained the company could see serious interests expressed from venture capital funds that put millions of dollars into a company because they see it as a profitable investment.
It’s one of the many reasons, the executive said paying attention to creative details like having one-of-a-kind artwork created was important for success.
“We will work with whoever is the most famous or talented artists in The Bahamas to create artwork for the bandanas on the skull,” said Arnett. “The artist will do a limited edition of say 500 runs and people from all over the world will buy these skullies. It’s a piece of art and it increases in value.”
The executive is now about to embark on a worldwide marketing campaign that involves spreading the information about the product at upcoming gaming conferences, forums and events.