CryptoHIT is a decentralized platform for financing gaming project, where both game developer and gamer can earn on their achievements. During the high season – CryptoHIT pre-sale is taking place now, Demid Chuntonov project’s Chief Analysis Officer found some time to answer our tough questions.
Anna Hare: Can you say something about the CryptoHIT history? When and how did you invent this concept and what was the impact for it?
Demid Chuntonov: We had this idea to make a gaming platform for years. In September 2017 we met our current CTO Sergey Bashkov at a cafe and he introduced us with a prototype of a blockchain game he invented called Gladiators. First, we wanted to develop this game as a stand-alone but later decided to pursue our dreams and start the ICO to build a platform for all crypto game developers. This is shortly how our history began.
A.H.: I must admit, you are very creative in names inventing. What is the CryptoHIT etymology and why did you call your token - Galactic Credit Coin?
D.C.: It’s an interesting question. The concept was derived from our aspiration to build a company whose passion will be to create gaming hits. Every new game title that we would develop is contemplated to become a worldwide hit that millions of gamers would play. That’s where the part of the name “hit” came from.
Since all of our games are powered by our own Galactic Credits (GAC) cryptocurrency, we decided that it would make sense to put the word “crypto” in front of “hit”. And once we did, the name automatically started to rhyme. CryptoHIT became a name that we decided to name our company. In colloquial English, everyone would be able to instantly memorize it. We believe the name should be simple and easy to remember.
Galactic Credits is a well-known Sci-Fi element in 70s fiction. One day we were discussing that bitcoin is a father of all crypto, but it has no future because of the slow blockchain transactions, high fees and volatility. Someone noticed that surely no one will use it in a distant future paying the bar tab on Saturn… it will be something like Galactic Credits… this is how the idea was born.
A.H.: Is there any real revenue standing behind this project? I’ve seen logo “based in Cyprus” but I couldn't find the information about the office or company.
D.C.: Currently we’re a pre-revenue project, only in pre-ICO phase. We’re testing our concept, finding the right people, building community. We chose to incorporate our entity in Cyprus. It was chosen as the most comfortable jurisdiction to conduct business in after looking at a dozen of other jurisdictions, including Singapore, Hong Kong and Malta.
A.H.: Why do you think that financial games will blow up the market?
D.C.: Have a look at CryptoKitties project, it was so popular that it disrupted the whole Ethereum network, doubling Gas prices.
Full interview you can read on our website: http://ruth.news/191-cryptohit-interview