KAMAGAMES
The Token Gesture: Adventures in Cryptoland
KamaGames’ Director of Global Communications, Sam Forrest, shares the results of a multi-month marketing experiment utilising crypto and blockchain technologies.
I
n August of 2018 KamaGames embarked on a marketing-based experiment through the sale of the KamaGames Token (KGT), utilizing crypto and blockchain technologies. Due to the nature of the execution, the goals set for the token sale differed from those of an ICO. We never looked to attract investors’ money and did not look for speculation related to the tokens and therefore, never intended to list it on any of the crypto exchanges.
There were 5 objectives we set out to achieve; 1 To obtain hands-on experience and to “test the waters” of the blockchain and cryptocurrency industries.
cryptocurrency in that was it potentially useful for all of our players or for just a very small, vocal minority?
3 To understand the similarities, if any, in the cryptocurrencies and KamaGames’ own established players. The goal being to potentially attract new users above and beyond the existing conventional UA channels.
4 To increase player loyalty and retention and to return lapsed players with a new proposition (offering a token instead of a promotion with chips).
5 To increase the company’s revenue by event.
We heard many promises ranging from the unrealistic to the unimaginable
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Firstly, we focused on our existing players and on increasing their loyalty and retention by issuing them with KamaGames Tokens as bonuses. The concept of the token was specially built so that the players would stay with us, hold the tokens and receive bonus chips on a daily basis. They also had the option of playing on Pokerist daily and gaining further bonus chips.
At this point, we also had players who
bought tokens in order to gain an advantage in the form of bonus chips and being able to purchase chips at a discount.
The KamaGames Token project received a lot of attention from the gaming, blockchain and cryptocurrency industries. An interesting fact is that many of those we spoke to about the sale were adamant that KamaGames had some kind of secret plan in place. They wanted to know what it was and how they could get involved in the early stages. It was hard to make our peers understand that we were not doing an ICO, we were not attempting to attract investors and we were not going to the token (crypto) exchange.
Even after several talks, press
announcements and interviews, it took some time for this to sink in. In fact, some people are still asking about soft and hard caps, investments and exchanges even now. From June to December 2018, KamaGames interacted in one way or another with all areas of the crypto market across the world. This included engaging with promoters, advertisers, mentors”, various exchanges that wanted to list sales, investors, traders, banks, auditors, news portals and crypto media, ICO trackers and
Due to this wide range of exposure in all areas of the market, the team behind the KamaGames Token sale have learned a number of key elements that will be taken into account when planning the company’s development strategy for the future.
THE CONCLUSIONS
Despite several years of our existing players demanding the ability to make payments in cryptocurrencies, when given the opportunity, interest was much lower than even our pessimistic forecasts, both for our existing players and newcomers. Was this due to the fall and depression in the cryptocurrency market?
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