Blockchain Gaming: Komodo (KMD) Up 25% as Komodore64 Virtual Console Nears

Komodo (KMD) leapt 25% in value leading into Sunday, possibly buoyed by anticipation surrounding Komodore64.

That’s the name of a Netherlands-based company working on bringing 3D gaming to the Komodo blockchain. The Komodore64 virtual console promises to usher in the next evolution in blockchain gaming – an arena which has been dominated by monotonous Cryptokitties clones until now.

3D Gaming Coming to Blockchain?

komodore64 screenshot

One of the benefits of blockchain gaming is its ability to root out cheaters and con-artists. When every in-game action is logged on the blockchain, the scope for manipulation is rendered potentially non-existent.

That’s not necessarily why someone would play it, but the use case is there. As for Komodore64, early screenshots and video clips look promising. Graphical fidelity at first glance resembles something from the PS2 era – which with the right art style can still look modern today. Check out the short video clip in this tweet for an example.

The fortunes of the K64 team took a positive turn at the end of May, when they acquired a large amount of funding from backers. From the Komodore64 Twitter page:

“We were doing already great, but we are going beyond the madness. So since a week we have been in deep negotiations, filed some crazy paperwork. The result is that we got some serious backing. And we are talking about 78M funding for this year.”

On May 31st a post appeared promising exciting news in the coming week, as the team opens up a new office. From the post:

“[We’ve] moved to a new office & have been working night & day on documents, tech & preparing the expo. Expect a lot of exciting news in the coming week.”

Komodo Benefits; PirateChain (ARRR) Pumps

This isn’t Komodo’s first brush with gaming – in February its devs released a blockchain version of a Rogue-like game, which can be found for free on Github.

Komodo is a multi-function blockchain project, with many of the same features as the likes of Ethereum, Zcash, and more. Indeed, digital tokens and assets can be launched on Komodo; private transactions can be made thanks to its Zcash-based tech; and the source code for creating a DEX has been long available.

If cryptocurrency valuations were based solely on tech, Komodo would perhaps be above its current top-fifty market cap ranking. The project has toiled without a marketing budget, or strong PR presence since its inception.

Check out Why Investors Should Pay Attention to Komodo for a brief rundown.

There was more hustle and bustle on the Komodo front this weekend, as one of the projects hosted on its blockchain underwent a successful block reward halving. The privacy coin, PirateChain (ARRR), surged 68% alongside Komodo on Sunday morning.

That’s fresh off the back of news that Komodo is developing its own mobile DEX – one which would presumably give more exposure to Komodo-hosted coins like PirateChain.

Komodo Price – KMD/USD

From Saturday night’s low of $1.37, the KMD price jumped to $1.72 by Sunday morning, marking 25% growth.

komodo chart

Komodo’s revival from the depths of the winter low has been charging ahead for some time. The coin is up 45% for the week, 75% for the month, and as much as 102% for the previous quarter.

The current valuation is way above the early 2017 launch price of around $0.10, but there’s plenty of leg room between here and the all-time high of $15.41.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. Chart via CoinMarketCap.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.