STO launches token that offers exposure to a portfolio of video games

advertisement

A group of former video game executives have banded together to launch a new token that will offer investors exposure to the growing gaming industry.

Rocket Token, announced Thursday, promises to offer every day investors the opportunity to tap into the $135 billion gaming business via a token that provides returns from a portfolio of games. The token can be compared to a REIT, which trade publicly on U.S. stock exchanges and offer investors exposure to a suite of real estate investments. The difference, however, is that Rocket Token will trade on a blockchain of the firm is devising.

Steve Grossman, former executive producer of Nintendo World Championships, leads the firm behind the token, Planet Digital Partners. 

"We’re thrilled to bring  blockchain to our games and deliver compelling new experiences to gamers that were previously impossible," Grossman said. 

Of course, investors could buy shares of companies such as Electronic Arts or Game Stop to gain exposure to the gaming industry. 

But Grossman says its token will provide something to the ecosystem for potential investors and the folks who develop the games. For the developers, Grossman says the firm offers fairer terms to so-called studios (who come up with ideas for games) than game producers (who buy the games from studios and then market and sell the games). "They don't lose intellectual property and we treat them a lot better," Grossman said.

As for investors, Grossman says the token allows them to profit from a suite of games early on. "As an investor, if I wanted to invest in this business, I would want to invest in the gaming business from the ground floor."

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

More