IQeon Review and Summary
IQeon ” A New Future for Gamers
There have been many online gaming platforms that came to be in the past fifteen years or so, Steam amongst the most popular ones, at least on the PC. Yet, even with Steam being very popular, secure and having a ton of players who play offline and online, its achievement system is somewhat lacking, in the sense that it doesn’t awards its players with the opportunity to earn real money.
The name of the platform is derived from two words, IQ, which means intelligence quotient and eon, a word with Greek origins, meaning a very long period of time, or by Plato’s denotation, an eternal world of ideas, one usually pushing or behind the perceived world. Combined together, they represent the human intelligence which is used to drive forward the progress of humankind.
This platform aims to accelerate the launch of new products, mostly games, that allow players to enter a competitive environment which praises intelligence and tasks which lean towards the logical aspect of competition, the winners and those with the best results receiving IQeon tokens, the internal currency which can afterwards be exchanged for real currency.
Both developers and gamers have incentive to join this platform, the developers since their products will get more coverage and since they will get better rates when withdrawing from the Google PlayStore and Apple Store. The developers also get access to an already established infrastructure with payments based on the cryptocurrency market. Developers get access to an API which allows for easy integration into existing ecosystems and a SDK for faster preparation and presentation of applications on the IQeon platform.
Players have an option to win coins whether on winning games, getting the best result or just completing tasks. The advantage of winning IQN tokens is that they can be exchanged into any other cryptocurrency, for example, bitcoin, Ethereum or Litecoin. This being a blockchain system, on an already well-established platform, namely Ethereum, using the ERC20 standard, the tokens are safe and sound. They cannot be refunded or forged due to the way how blockchains and decentralized systems work. This system allows the players to remain anonymous. The currency could be used in any game on the IQeon platform, making it accessible and practical. The currency, IQN, can later be exchanged for fiat money, in other words, real money.
Investors get the benefit of obtaining IQN tokens during the crowdsale period, when they are at their lowest price. As the platform develops and more third-party developers add their own games and content, the demand for the tokens will increase. Given how there is a limited number of tokens to be had, their value will increase. As a pioneer in the field of allowing gamers to get paid in cryptocurrencies on an online platform, investors are to gain more income from an influx of both players and developers. Since the number of tokens is limited, after the crowdsale periods, any unsold tokens will be burnt (thus increasing the value of the already sold tokens, many of which go to the investors themselves).
The team behind this project consists of fifteen people, a CEO, COO, CSO, CTO, financial consultant, USA and Canada representative, CLO, blockchain developer, mobile developer, CMO, software development engineer, smart contract developer, project manager, digital marketing strategist and community coordinator. Each of these people have been in their respective business area for at least 5 years, many of them being even longer than 10 years.
The team also has five advisors, in areas related to blockchain technology, mining and finance, whether online systems or actual bank systems.
Pre Crowdsale and Crowdsale Information ” Token Distribution and Allocation
For any upcoming investor, the tokens are the most important thing, given how they will be the currency they will exchange later on, most likely at a bigger price, due to increased demand as the platform progresses. Depending on the period of pre crowdsale or crowdsale purchase, the token number an investor receives per 1 Ethereum coin will vary.
The pre crowdsale period, divided into two rounds, 1 and 2, has different values per Ethereum coin. The first round which lasted from December 15th 2017 to December 24th 2017 gave investors 700 IQN tokens per Ethereum coin. A total of 500,000 IQN tokens were sold at the time.
The second round of the presale period, from January 8th 2018 to Jaunary 15th 2018 gave investors 550IQN tokens per Ethereum coin. A total of 800,000 IQN tokens were sold during that period.
After the two rounds of presale are over, enters the crowdsale or ICO (Initial Coin Offering). During this time, as crowdsales generally work, tokens are sold to investors for cryptocurrencies and are distributed as predetermined by the development schedule. The tokens are limited in number and any remaining ones after the crowdsale ends are burnt in order to increase the value of the already sold ones.Iqeon White Paper
The crowdsale period lasts from January 30th 2018 to March 13th 2018. A total of 5,700,000 IQN tokens are to be sold during this period, 1 Ethereum coin getting investors 325 IQN tokens. There is a soft cap of 2000 ETH coins and a hard cap of 19000 ETH coins which is around 18.217.409 US dollars.
The crowdsale period has a bonus scheme which decreases at a given schedule, the first day netting people a 30% token bonus, the first week 25%, weeks 2-3 20%, weeks 4-7 15%, weeks 8-14 10% and weeks 15-30 5%.
The majority of the earnings from the crowdsale will be directed to the platform itself, the development and enhancement, 60% of the earnings.
25% will be directed towards the marketing, a rather large yet expected sum, considering that a novel platform needs to attract both developers and players alike to function properly and be able to maintain both itself and have income to pay both players and developers.
8% of the funds will be going towards the operating expenses. 4% will be going towards the legal expenses and the remaining 3% towards anything else that might come up or require funds.
It is worth noting that the tokens purchased during the crowdsale period and presale period are not refundable. Having purchased tokens does not make you an owner of any shares in the company or provides you with any right to make decisions regarding the ecosystem and the platform itself. It is neither an investment nor a secure way of obtaining more money.
The tokens, can, however be exchanged within the IQeon ecosystem and once the platform launches, you will be able to exchange them for other cryptocurrencies, as it will become available on the market.
The IQN token total number which will be deployed is 10,000,000, 5% going in the 1st presale round, 8% in the 2nd presale round, 57% in the crowdsale, 12% to the project team, 10% as a bonus fund, 6% to partners and advisors and 2% for bounties. Tokens that are meant for the advisors and partners will be blocked in the system for 2 months, while those reserved for the partners, 6 months.
These tokens have many functions, and are intended to be used within the IQeon platform. Their primary use case scenario is a two-way exchange system. They are to be used for making bets, remuneration in game rooms or after a player gets player of the day award or player of the month award, as a means of resolving disputes. It is meant as a way of payment, namely paying the developers, the digital copyright owners, partner programs and to form a prize fund in future IQeon tournaments.
The platform will have its own web application which will allow developers and users to have their own accounts, link them to other applications, make purchases, transfers and exchange IQN tokens into other cryptocurrencies or fiat money. A mobile application, named IQeon wallet, will be launched after the main platform, allowing Android and iOS users to exchange IQN tokens for fiat money on a debit card, or vice-versa.
The IQN tokens are directly based on the ERC20 standard, meaning that they will be compatible with an Ethereum wallet, from the get go, allowing easy transfer to token holders. This standard will allow users to trade the tokens easily, since it will be based on an already well-established standard which had been used to make many tokens and is a large part of the current cryptocurrency market.
Tournaments which will be possible on the platform, will have a system backing it up, namely the platform’s API. Once all the conditions for the start of a tournament are met, player IDs are confirmed, IQN payment and tournament rules established, the API will make a smart contract and take notes of results and tournament progress. 8 people entering a tournament for a fee of 100 IQN tokens will have different prize pools. The winner would take 60% of the total prize pool, the semi finalists 20%, as well as the quarterfinalists. 5% of the total sum of commissions will go towards the platform itself. This is just an example of what a tournament might look like, the number of players and the fee being subject to change.
Project Milestones and Roadmap
The platform had its origins in Q3 of 2016, when the concept and business plan of IQeon were developed. The rest of 2016 saw a legal model being developed, as well as 50000 US dollars for an initial investment to develop the gameplay mechanics and a pilot application named IQ clash.
2017 saw a 300,000 US dollar investment, the IQ Clash company registration, team building of both the main team and the advisors. Later on, a mock up of the platform model was developed, the IQ Clash API was developed, the platform development was started. The ecosystem was also moved forward, with more than 30 partners. The last months of 2017 were used to prepare for the ICO, make a smart agreement for IQN token distribution and expand the already large system of partner, to more than 100 partners.
Q1 of 2018 is reserved for the development of the IQeon API and finishing touches of the ICO. The web application development is scheduled for this period, as well as testing the link between the IQeon API and the IQ Clash API. The marketing campaign is also to start during this period, as well as listing the IQN tokens on the cryptocurrency market.
Q2 of 2018 will see the platform integrated with the Ethereum blockchain, likewise, development of the IQeon blockchain control subsystem. Q2 will also see the platform beta launch, which means integrating the platform API with partner applications. The IQeon wallet and tournament support are to be started on.
Q3 will see the release of the IQeon wallet and the tournament mode. The marketing campaign will be continued during this period as well as those prior to it, to attract end-users.
Q4 has a goal of developing more IQ Clash applications, reaching 2,5 million active users and developing the IQeon SDK.
2019 and onwards have a goal of having a ready SDK, integrating AI technology into the IQeon API and SDK, as well as into the game mechanics. It will also see integration with the Xbox and PS systems and introduction of augmented reality and virtual reality technology into the game mechanics, as well as reaching a milestone of 15,000,000 active players and having more than 10,000 partners and 1,500 IQ Clash applications.
Frequently Asked Questions
Q: Why are you sure that players will come to your platform?
The answer is that the players will most likely be using the platform to earn pocket money and that the platform itself is targeted at peopled age 12 to 25. Their own study got a result that no less than 14% of the player base will be interested in just earning money from the system.
Q: Why should the crowdsale investors trust the company?
Basically, the smart contract for the token distribution dictates that the tokens must be released and the entire crowdsale is regulated by that open smart contract.
Q: Why will the token grow in price?
Since the token number will be limited, no more tokens are to be released after the crowdsale and platform launch are commenced. Since the player base will increase, the demand for the tokens will increase, which will be helped by introducing new applications and games.
Q: How many games are in the IQeon system?
Prior to the launch of the presale ICO, developers of 50 applications (and counting), showed interest in connecting to the IQeon platform.
There are more questions, some less notable, others necessary, such as whether there is a real office, or whether the company itself is a registered company (the answer to both is yes, and both the office and the company are registered in Estonia).
Conclusion ” A New Era of Online Gaming
IQeon has a very notable goal of providing both users and developers with a way to earn money in a decentralized network. The players have to gain actual money and their anonymity is protected by the decentralized network itself. The developers have to gain application publicity and money, like the players, due to the IQN token being introduced to the cryptocurrency market.
Based on the ERC20 standard, this token will be easily tradable with any other cryptocurrency, as well as fiat money, once the platform and IQeon wallet application are launched.
Primarily targeted for the mobile, Android and iOS market, the platform is intended to expand to the PC and console market afterwards.
As its own name suggests, IQeon looks to the future, by aiming to provide the gaming industry, meaning players, investors and developers with a means of earning money and sharpening their intelligence by challenging others in various games and puzzles.Iqeon White Paper