Tapinator Introduces New Subsidiary Focused on Decentralized Blockchain Apps
Revolution Blockchain LLC to launch first product in Q2 2018
January 03, 2018 --
NEW YORK, January 3, 2018 /PRNewswire/ --
Tapinator, Inc. (OTCQB: TAPM), a leading developer and publisher of mobile games on the iOS, Google Play and Amazon platforms, today announces the formation of a new subsidiary, Revolution Blockchain, LLC, to develop and publish distributed apps and games that leverage blockchain technology.
Revolution Blockchain's first product is currently under development and scheduled to launch in the second quarter of this year. This product will leverage blockchain technology for both payment (i.e. the purchase & sale of virtual assets) and the storage of these assets via non-fungible tokens that live on the blockchain. The new subsidiary has also completed an initial private placement for $100,000 with an individual accredited investor resulting in the issuance of membership interests that are convertible into Tapinator's common stock at a price of $0.25 per share.
"We believe that we're at the dawn of a new revolution where the applicability of blockchain technology will expand from currency trading to industry-changing applications and games," commented Ilya Nikolayev, CEO of Tapinator. "The formation of our Revolution Blockchain subsidiary allows us to plant a hard stake in the ground and make a long-term commitment to the distributed app market. Our management team has been in the application development and publishing space for over ten years now and successfully made the transition from social/desktop to mobile ecosystems. Similarly, we now believe Tapinator is extremely well positioned and qualified to create early leadership within the decentralized apps market."
Decentralized apps (or DApps) are applications which run on a P2P network of computers instead of on one single computer or server; eliminating the issues involved with having a central point of failure. They are considered to be a form of software program designed to function on the Internet without being controlled by a single entity. DApps can have front-end code and user interfaces written in any language, just like a traditional application, which can make calls to its backend.
"We are very enthused about the crypto gaming products we have in development," Nikolayev added. "As we get closer to the Q2 launch date, more details will be released."
The Ethereum Platform is currently the leading blockchain platform for DApps and allows developers to write smart contracts and decentralized applications where the developer chooses its own rules for ownership, transaction formats and transition functions. Multiple types of DApps are now being created across multiple categories, including finance, governance, community, legal, health, education and gaming.
Specifically, as it relates to Tapinator's core business of gaming, players can currently invest thousands of hours in games to build up powerful or unique in-game assets, and yet they have no ownership over them. Given recent industry concerns over loot crates and skins gambling, the ownership and control of in-game items has become a real issue for the $100+ billion games industry. Blockchain-based gaming apps provide an increasingly real solution to these issues.
According to CoinMarketCap, the aggregate market value of cryptocurrencies increased from $17.7 billion to over $600 billion in 2017, which clearly indicates the rising interest in adoption of blockchain and cryptocurrency.
Tapinator develops and publishes mobile games and DApps on the iOS, Google Play, Amazon, and Etherium platforms. Tapinator's portfolio includes over 300 mobile gaming titles that, collectively, have achieved over 450 million player downloads, including games such as ROCKY™, Video Poker Classic, Solitaire Dash, and Dice Mage. Tapinator generates revenues through the sale of branded advertisements and via consumer app store transactions. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in the United States, Germany, Pakistan, Indonesia, Russia and Canada. Consumers can find high-quality mobile entertainment wherever they see the 'T' character logo, or at http://www.Tapinator.com.
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the next stage of our development, the deleveraging and strengthening of our balance sheet and the execution of our organic growth strategy to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, whether Revolution Blockchain will be successful in launching its first product by the second quarter of 2018, if at all, and whether such product will be well received in the marketplace, our belief that we are at the dawn of a revolution where the applicability of blockchain technology will expand from currency trading to industry-changing applications and games and our belief that we are well positioned to become a leader within the decentralized apps market. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the Company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the Company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the Company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, see Tapinator's Risk Factors which are available within the disclaimers section of Tapinator.com.
SOURCE Tapinator, Inc.
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