Blockchain-based app and games distribution platform, ALAX, has finished its highly successful Token Generation Event by raising $3,832,493.
The company uses blockchain to bring better distribution, easier payments and integrated user rewards for games. It is hoping to break into the booming mobile markets of Asia, Africa and the Middle East – allowing the people in the developing world who don’t have access to a bank to be able to download and play games.
Its Token Generation Event saw ALX tokens generated which can be used in the ALAX store. They will be offered to end users via an internal exchange or using an existing reseller network of brick and mortar stores and mobile operators.
There were 300,000,000 ALX tokens dedicated to two rounds of the ALAX TGE.
ALX will soon be available at various exchanges, starting with QRYPTOS, followed by YoBit, CREX24 and Coinbene. ALAX is currently completing the TGE data in order to generate and distribute the tokens by that time.
Once the tokens are listed on the exchanges they will be tradable and available to obtain ALA tokens in the ALAX store with a 20% bonus.
And 15% of the proceeds from the TGE will be used as the legal contingency fund, while 10% on partnerships and integrations and 35% marketing, user acquisition, community outeach. Another 40% will be used for platform development.
The mobile game marketplace has traditionally had troubles, with gamers having to use a costly and inefficient system to buy games – using PayPal, credit cards or SMS.
ALAX’s platform changes this by allowing smartphone users to buy tokens through the existing Dragonfly retailer network only to then use them to purchase games and apps direct from the developer.
With all transactions recorded in the blockchain, developers are able to know exactly how well their games are doing and get a fair deal. This also quickens the transaction and opens gaming and app purchases to customers without access to traditional methods of payment.
This video explains how the ALA/ALX interchange will work.